CALGARY, Alberta - Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces fourth quarter and annual results for the period ended December 31, 2020. Operating and Financial Highlights Three Months Ended December 31 Twelve Months Ended December 31 FINANCIAL ($000s, except as noted) 2020 2019 Change 2020 2019 Change Royalty and other revenue 25,793 36,827 -30% 89,958 140,837 -36% Net income (loss) 373 6113 -94% (13,931) 5,193 nm Per [Read more]
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Seven Generations Energy announces conditional redemption of all of its 6.750% senior notes due 2023, 6.875% senior notes due 2023 and 5.375% senior notes due 2025
CALGARY, Alberta - Seven Generations Energy Ltd. (TSX: VII) Seven Generations Energy Ltd. today announced that it has issued notices of conditional redemption (the “Conditional Redemption”) to holders for all of its outstanding 6.750% Senior Notes due 2023 (the “6.750% Notes”) at a redemption price of 100.000% plus accrued and unpaid interest, all of its outstanding 6.875% Senior Notes due 2023 (the “6.875% Notes”) at a redemption price of 101.719% plus accrued and unpaid interest and all of [Read more]
Line 5 ‘very different’ from Keystone XL, Canada will fight hard for it, says O’Regan
WASHINGTON - Canada's natural resources minister is calling the cross-border Line 5 pipeline a "non-negotiable" element of talks with the United States. Seamus O'Regan is vowing to defend the underwater pipeline as he testifies before a special House of Commons committee on Canada-U.S. relations. Michigan Gov. Gretchen Whitmer has pledged to shut down the Enbridge pipeline, which links Wisconsin and Sarnia, Ont., through the Straits of Mackinac between lakes Michigan and Huron. O'Regan [Read more]
Yangarra announces 2020 year end financials, operating results and reserves
CALGARY, AB - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX: YGR) announces its financials, operating results and reserves for the year ended December 31, 2020. 2020 was a volatile year with many challenges for the oil & gas industry in North America. Yangarra quickly responded to COVID-19 in early 2020 by reducing the capital program to zero until August 2020. Although this resulted in a decline in production, the Company worked to streamline operations and internalize [Read more]
Shell Canada employing ‘agile teams’ to power energy transition and reduce emissions
CALGARY - The president and country head for Shell Canada says its transition into a provider of cleaner energy is being driven by a network of "agile teams" of employees who are examining between 30 and 40 project ideas at a time. Michael Crothers says the teams formed from employees brought in from various parts of the company are looking at proposals that include the use of hydrogen, biofuels, and wind and solar energy to help the company reduce its environmental impact. Speaking during [Read more]
Oil strengthens on prospect of OPEC+ maintaining supply cuts, drop in U.S. inventories
Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing output at a key meeting later in the day lent support alongside a drop in U.S. fuel inventories. U.S. West Texas Intermediate (WTI) crude futures gained $1.02, or 1.68% to $62.06 a barrel. Brent crude futures added $1.13, or 1.8%, to $65.03 a barrel, after climbing more than 2% on Wednesday. "Prices hinge on Russia's and Saudi Arabia's preference to add more [Read more]
Vertex Resource Group Ltd. acquires Mad Oilfield Solutions
Sherwood Park, Alberta, March 2, 2021 (TSXV:VTX) - Vertex Resource Group Ltd. (“Vertex” or the “Company”) is pleased to announce that it has acquired MAD Oilfield Solutions (MAD), a privately-held company providing environmental services specializing in industrial cleaning, waste management and hydro-excavating, based out of Northern Alberta. The acquisition of MAD will add over 50 specialized units, along with other equipment to Vertex’s fleet. MAD is a leader in the industry, delivering [Read more]
Column: Don’t believe the activists, natural gas stoves are fine to use
Gourmets have been long-time aficionados of gas stoves because they provide better quality heat that is easy to control quickly. Most people prefer a gas stove as a better choice for cooking. Now the same people who are telling you not to eat meat are telling you not to be better cooks either. Most recently, they have been using a heavily biased report that was authored by the Sierra Club and the Rocky Mountain Institute. It goes without saying these authors have a biased view on fossil [Read more]
Ovintiv appoints Katherine L. Minyard to board of directors
DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced that Katherine L. Minyard has been appointed as an independent member of its board of directors, effective immediately. Minyard, 45, is an Investment Principal and Partner at Cambiar Investors where she focuses on energy, metals and mining, industrials, basic materials and utility equities. Before joining Cambiar, she was an Executive Director on J.P. Morgan's Equity Research Team covering integrated oil, refining, Canadian oil [Read more]
Canadian Natural Resources beats profit estimates, boosts dividend
Canadian Natural Resources Ltd beat analysts' estimates for fourth-quarter profit on Thursday, as crude prices staged a steady recovery during the period from pandemic-driven lows, also helping boost its dividend. An uptick in crude and natural gas prices has given operators some respite after a tumultuous 2020, when the COVID-19 pandemic wiped out one-fifth of global demand for fuel. After falling to record lows in the spring, Brent crude prices averaged around $45 per barrel in the [Read more]