Binding agreement to acquire 100% of Blackspur Oil Corp (“Blackspur”), a western Canadian conventional oil-weighted energy producer. Consideration of C$17 million; comprised C$12.1 million in Calima shares and a cash payment of up to C$4.9 million; plus contingent consideration tied to net debt adjustments at closing. Focused High Quality Asset Base: Blackspur’s operations include high quality, producing assets in Alberta Canada with an oil weighted reserve base: Net Reserves [Read more]
Headlines
Advantage Announces Revised 2021 Guidance, 2020 Year-End Results, and Reserves Highlights
CALGARY, AB, Feb. 25, 2021 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce increased 2021 production guidance, reduced 2021 capital guidance, and 2020 year-end results and reserves highlights. Results from Advantage's 2020 drilling program have exceeded expectations both in costs and well performance, positively impacting our 2020 reserves, financial outlook and 2021 guidance. Drilling in 2020 was entirely gas-focused at Glacier, with the first [Read more]
Razor Energy Corp. Announces 2020 Year-End Reserves and Operational Outlook
CALGARY, Alberta, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to provide a summary of its 2020 year-end reserves evaluation and an updated operational outlook. The highlights and reserves summary below set forth Razor’s gross reserves at December 31, 2020, as evaluated by Sproule Associates Limited (“Sproule”), qualified reserves evaluators, in an independent report dated February 19, 2021 (the “Sproule Report”). The figures in the [Read more]
Pembina Pipeline Corporation announces share repurchase program
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today the acceptance by the Toronto Stock Exchange (the "TSX") of Pembina's notice to commence a normal course issuer bid (the "NCIB") to purchase up to five percent of its outstanding common shares. Under the NCIB, purchases of common shares may be made through the facilities of the TSX, the New York Stock Exchange and/or alternative Canadian trading systems, commencing on March 2, 2021 [Read more]
Alberta sees budget deficit narrowing to C$18 bln as oil prices recover
The province of Alberta on Thursday estimated its 2021/22 budget deficit will shrink to C$18.2 billion, as its economy starts to recover from the damage wrought by the coronavirus pandemic. Alberta's 2020/21 deficit stood at C$20.2 billion, compared with a C$24.2 billion deficit projected in August, as recovering crude oil prices help the province narrow its deficit. Still, the deficit is larger than the historical trend, reflecting the impact of pandemic spending. Finance minister [Read more]
Pembina Pipeline Corporation reports results for the fourth quarter and full year 2020
Full year results reflect the resilience of Pembina's diversified and highly contracted business; pre-pandemic adjusted EBITDA guidance achieved All financial figures are in Canadian dollars unless otherwise noted. This news release refers to certain financial measures that are not defined by Generally Accepted Accounting Principles ("GAAP"), including net revenue; adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"); cash flow from operating [Read more]
NuVista Energy Ltd. executes non-core divestitures, reduces debt significantly, and provides production and operations update
CALGARY, Alberta - NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce the divestiture of its non-core Charlie Lake and Cretaceous Unit assets (the "Wembley Assets") in the Wembley area, as well as selected water infrastructure assets (the "Infrastructure Assets") in the Wembley/Pipestone area, for total proceeds of $94 million prior to adjustments. There is no change to NuVista’s ownership in our core Montney assets in Pipestone, Wapiti, and the surrounding area, [Read more]
Imperial Oil reports one-billion-barrel drop in bitumen reserves at end of 2020
CALGARY - Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers. In a regulatory filing on Wednesday, the Calgary-based company says its proved plus probable bitumen reserves fell to 4.46 billion barrels as of Dec. 31, 2020, from 5.45 billion barrels on the last day of 2019, with most of the change due to "technical [Read more]
Oil hovers near 13-mth highs as storm hits U.S. output, Fed assures rates staying low
Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. U.S. West Texas Intermediate crude for April was at $62.80 a barrel, down 62 cents, 0.96%. Brent crude futures for April lost 57 cents, 0.86%, to $66.66 a barrel. Both contracts touched their highest since Jan. 8, 2020, earlier in the [Read more]
Remanufactured oilfield equipment products
When purchasing oilfield equipment, you need to consider a few critical factors, such as equipment life span, cost, availability, and production timeline. Oilfield equipment comes in a variety of conditions: New: Equipment that has never been used and is typically sold by the original equipment manufacturer. New Surplus: These products have never been used but may have been built some time ago, so they may not have the latest features and may show some cosmetic imperfections. This [Read more]