Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2020. Q3 2020 Highlights Achieved revenue of $5.9 million. Realized an operating netback of $4.7 million, including hedging gains of $0.9 million. Attained quarterly adjusted funds flow from operations of $3.4 million or $0.04 per share (basic). Maintained average [Read more]
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Ovintiv names Meg A. Gentle to Board of Directors
DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Meg A. Gentle has been named as an independent member of its board of directors, effective December 16, 2020. Gentle, 46, currently serves as the president and chief executive officer of Tellurian, Inc. and as a member of its board of directors. Before joining Tellurian in 2016, she served as CFO and executive vice president of marketing for Cheniere Energy. Gentle graduated from James Madison University and holds an MBA from [Read more]
OSY Rental’s web series is back and better than ever
OSY Rental's hit web reality series has returned for an all new season 6. Watch the challenges the team faces during the pandemic and oil price downturn. OSY Rentals is an oilfield rental and sales company specializing in Vapour Tight Tank Packages, flares, knockouts and separators. The company launched its web reality series in 2017, and the show became an overnight success with episodes reaching as many as 50,000 viewers through their YouTube and social media channels. Visit OSY [Read more]
Headwater Exploration Inc. announces receipt of shareholder written consent for transaction with Cenovus Energy Inc.
CALGARY, AB - Headwater Exploration Inc. (the "Company" or "Headwater") (TSX: HWX) announces it has received written consents from shareholders holding a majority of the issued and outstanding common shares (the "Common Shares") of Headwater approving the Company's previously announced transaction (the "Transaction") with Cenovus Energy Inc. ("Cenovus"). Pursuant to the Transaction, Headwater will acquire 100% of Cenovus' assets in the Marten Hills area of Alberta. Headwater will issue 50 [Read more]
Birchcliff Energy Ltd. receives TSX approval for renewed normal course issuer bid
CALGARY, Alberta - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the notice of Birchcliff’s intention to make a normal course issuer bid (the “NCIB”). The NCIB effectively renews the Corporation’s existing normal course issuer bid which is set to expire on November 24, 2020. The NCIB allows Birchcliff to purchase up to 13,296,936 common shares (representing 5% of its 265,938,729 common shares [Read more]
What is happening with the Keystone XL oil pipeline?
TC Energy Corp says it is continuing to advance its Keystone XL (KXL) oil pipeline, the $9 billion project that would move oil from the province of Alberta to Nebraska. Most recently, a Canadian indigenous group said it would invest C$1 billion ($764.35 million) in the project, which has been in the works for 12 years. That surprised some, as KXL has been slowed by legal issues in the United States, and faces a potential fatal blow next year when President-elect Joseph Biden takes office, [Read more]
CAODC announces the release of its Q4 2020 and 2021 drilling forecast
Projected 2021 wells drilled: 3,771 – an increase of 475 from 2020 (3,296*) Projected 2021 operating days: 33,938 – an increase of 4,274 from 2020 (29,664*) Rig fleet expected to decrease by 27 (505 drilling rigs to 478 drilling rigs) Total jobs expected = 18,550, an increase of 2,349 year over year After a promising start, 2020 activity levels came to a crashing halt at the end of Q1 along with the global economy due to the COVID-19 pandemic. The industry faced historic lows in oil [Read more]
Indigenous prime contractor successful in SRP periods 1-4
Western Petroleum Management (WPM) is an Alberta based and federally registered Indigenous-owned company supplying engineering, project management, and onsite supervision to the upstream oil gas industry across western Canada since 2005. WPM has been involved with the Alberta Site Rehabilitation Program (“SRP”) since its inception and has been extremely successful in obtaining application approvals for numerous clients, from large operators to single well licensees. WPM has realized an [Read more]
Unlocking the lower Montney
Lower Montney zones have been extensively developed along the formation’s subcrop edge and in the southern conventional reservoirs at Kaybob, Kaybob South, Placid and Ante Creek North. But, in the unconventional siltstone reservoirs that make up the bulk of recent horizontal drilling, development of the lower zones lags that of the upper zones. Operators are beginning to add significantly to their reserves by going lower on their existing pads. Figure 1 shows the IP90 condensate-gas ratio (CGR) [Read more]
Oil up on hopes for delay to OPEC+ supply increase, vaccine
Oil prices firmed on Wednesday on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID-19 vaccine was more effective than previously reported. U.S. West Texas Intermediate crude gained 51 cents, or 1.22%, to $41.87. Brent crude rose 58 cents, or 1.28%, to $44.36 a barrel. Both contracts jumped by about $1 after Pfizer Inc said on Wednesday final results from the late-stage trial of its vaccine showed it was 95% effective. Last week, it had put [Read more]