Enbridge Inc asked the Canadian government on Tuesday to "use every pathway" to champion its Line 5 oil pipeline in a dispute with the state of Michigan, which has ordered it to shut down over concerns it could leak into the Great Lakes. Enbridge is also asking Ottawa to provide support for its U.S. federal court filings on Line 5, Vern Yu, Enbridge executive vice president of liquids pipelines, told a parliamentary committee. Line 5 delivers 540,000 barrels per day of crude oil and [Read more]
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Gear Energy Ltd. announces notice of redemption of debentures
CALGARY, AB - Gear Energy Ltd. ("Gear" or the "Company") (TSX: GXE) is pleased to announce that today it is issuing a notice of redemption to holders of its currently outstanding $12.7 million 7% Convertible Unsecured Subordinated Debentures due November 30, 2023 (the "Debentures"). As set out in the notice of redemption, the redemption date of the Debentures will be April 26, 2021 (the "Redemption Date"). The Debentures are redeemable for an amount equal to the principal amount of the [Read more]
Alberta energy minister defends war room petition attack on children’s Bigfoot movie
Alberta’s energy minister is defending her government’s attack on a children’s movie about Bigfoot, calling its anti-oil message inaccurate and “quite offensive.” Sonya Savage also says it’s critical to push back constantly against any false narrative that casts Alberta’s wellspring industry in a negative light. Savage is referring to a petition campaign recently launched by the United Conservative government’s so-called "war room" against the animated movie “Bigfoot Family" put out by the [Read more]
Leucrotta Exploration announces upsize to previously announced bought deal financing to C$30 million
CALGARY, Alberta - Leucrotta Exploration Inc. (the “Company” or “Leucrotta”) (TSX-V: LXE) is pleased to announce that, further to its press release dated March 15, 2021, it has entered into an amended agreement with a syndicate of underwriters amending the terms of its previously announced C$20 million bought deal financing to increase the size of the offering to C$30.0 million (the “Upsized Offering”). Under the terms of the Upsized Offering, a syndicate of underwriters, co-led by Haywood [Read more]
Canada-U.S. Commons committee exploring latest cross-border pipeline flashpoint
WASHINGTON - The latest pipeline dispute between Canada and the United States is back on the agenda in Ottawa. Enbridge vice-president Vern Yu is scheduled to appear today before a special House of Commons committee exploring Canada-U.S. ties. Enbridge owns and operates Line 5, a vital cross-border energy link that Michigan Gov. Gretchen Whitmer has vowed to shut down. Whitmer is convinced the dual pipeline, which runs beneath the Straits of Mackinac, poses too severe a threat to the [Read more]
Oil drops as rising stockpiles compound COVID-19 demand concerns
Oil prices fell for a third straight day on Tuesday as rising stockpiles in the United States added to concerns about risks to demand as countries including Germany and France halt COVID-19 vaccinations. U.S. crude was down 60 cents, or 0.95%, at $64.59 a barrel, after declining 0.3% in the previous session. Brent crude was down 64 cents, or 0.92%, at $68.12, having dropped 0.5% on Monday. Germany, France and Italy plan to suspend AstraZeneca PLC COVID-19 injections after reports of [Read more]
PrairieSky’s newly acquired seismic data available for prospecting
PrairieSky Royalty has over 16,700 km2 of 3D Seismic and 49,200 km of 2D Seismic spanning Western Canada from Northeast BC to Southwest Manitoba. This seismic is available for viewing in PrairieSky’s data room, to prospect for opportunities across its 8 million acres of fee title lands. Click here for an updated map of PrairieSky’s extensive seismic database, which includes 3,200km2 of recently acquired 3D Seismic and over 3,000km of recently acquired 2D Seismic. For further information, please [Read more]
In A&D mode? To be competitive today, you need to be more proactive
In today’s competitive oil and gas environment, it’s no longer enough to limit acquisition & divesture targets to publicly available opportunities. This is an environment of aggressive mergers and unlisted opportunities. To find the best deals and assets, producers need to be proactive in their A&D scoping. To succeed in A&D you need access to data not found in a listing agent report. You need to know where targets’ acquisitions are focused, what synergies come into play, what are [Read more]
Inclusive Energy actively seeking opportunities to invest significant capital into North American energy industry
Inclusive Energy Ltd., a leader in the oil and gas services sector, is pleased to announce the availability of its private equity capital fund dedicated to diversifying its investments in the North American energy and natural resource industries, including the upstream, midstream, infrastructure, oilfield services, and renewables sectors. The significant capital fund is committed by Inclusive Energy alongside its global partners with operations in nine other countries, including the United [Read more]
Abandonment is big business
Recent announcements, including the Alberta Site Rehabilitation Incentive Program, have generated significant opportunities to create positive impacts on the environment and economy. The funding from this program is in large part due to the federal government's COVID-19 Economic Response Plan. This plan’s goal is to put out of work oil field services contractors back to work, which has made well abandonment work big business in Alberta. As part of the federal government funding, Indigenous [Read more]