CALGARY - Distinction Energy Corp. (formerly named Delphi Energy Corp.) (“Distinction” or the “Corporation”) is pleased to announce the closing of a brokered private placement and a non-brokered private placement (collectively, the “Offering”) of an aggregate of 265,331 special warrants of the Corporation (“Special Warrants”) issued at a price of $15.00 per Special Warrant for gross proceeds of $3,979,965. The Special Warrants were issued pursuant to, and are governed by, a special warrant [Read more]
Headlines
Trans Mountain seeks to shield insurers from pressure
Trans Mountain Corp has asked a regulator to keep the identities of its insurers private as environmental activists push them to drop coverage. Activists have stepped up pressure on banks and insurers to drop financing and insurance for fossil fuel companies, leading to European companies like AXA and Zurich pulling back from underwriting coal and oil sands projects. Trans Mountain is nearly tripling capacity of the pipeline to carry 890,000 barrels of crude and refined products per day [Read more]
Higher oil prices boosting Alberta’s bottom line as budget looms
Premier Jason Kenney says a recent bump in energy prices in the third quarter of the current budget is helping the bottom line as his government prepares to introduce its 2021-22 budget. The budget deficit was on track to exceed $21 billion this fiscal year, but Kenney said it will now be about $14 billion. Alberta Finance Department officials declined to confirm Kenney’s estimate. It’s been a roller-coaster ride for Alberta’s deficit this fiscal year, which ends March 31. The [Read more]
Crescent Point announces 2020 results and reserves
CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2020. Crescent Point recently announced an accretive acquisition of Kaybob Duvernay assets for $900 million (the "Acquisition") that further enhances the Company's balance sheet strength and sustainability, including its expected free cash flow generation. For more information on the Acquisition, which [Read more]
XI Technologies: M&A Snapshot – ARC Resources Ltd and Seven Generations Energy Ltd
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. M&A announcements are dominating the headlines in the oil and gas industry. Scoping and evaluating corporate and asset A&D opportunities is one of XI’s specialties, so we are pleased to offer some high-level summaries of a [Read more]
Prairie Provident announces year-end 2020 reserves
CALGARY, Alberta - Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2020 year-end reserves evaluation conducted by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2020 (the “Sproule Report”). With recent commodity price recovery and additional liquidity provided by our lender, Prairie Provident has restarted its development program focusing on the Glauconite and Ellerslie [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Feb. 22 Completions Engineer PetroChina Canada Calgary Feb. 22 Senior Specialist, Communications - Internal Communications AltaGas Calgary Feb. 22 Junior [Read more]
E3 Metals appoints former Premier of Saskatchewan, Brad Wall, to advisory board
CALGARY, ALBERTA – E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium extraction technology innovator, is pleased to welcome Mr. Brad Wall to its Corporate Advisory Board, starting March 1, 2021. Mr. Wall previously served as the Premier of Saskatchewan for over 10 years until 2018, where he demonstrated a consistent ability to bring political and business leaders together as he implemented creative [Read more]
Osum Oil Sands stops opposing Waterous takeover bid
Osum Oil Sands said on Tuesday its board had withdrawn its recommendation that shareholders reject the all-cash offer by private equity firm Waterous Energy Fund for a bigger stake in the Canadian energy company, days after it raised the offer price. Last week, Waterous said it plans to buy 57 million shares of the oil and gas firm, higher than the 50 million it had offered to buy earlier at C$2.40 per share. It also improved the offer to C$3 per share, implying a deal value of C$171 million [Read more]
Keystone XL ‘clarity’ boosts Gibson Energy diluent recovery project, says CEO
CALGARY - The CEO of Gibson Energy Inc. says "clarity" about the future of the cancelled Keystone XL pipeline has prompted increased interest from potential customers in an expansion of its diluent recovery unit now under construction at the Hardisty crude transport hub in east central Alberta. Diluent, a light oil mixed with sticky, heavy bitumen from the oilsands to allow it to flow in a pipeline, makes up as much as a third of the volume of blended bitumen or "dilbit'' headed to U.S. [Read more]