Tourmaline Oil Corp announced a portfolio of transactions completed this year which is expected to generate higher cash flow in 2022. Also raises average 2021 production guidance to a range between 405,000 and 420,000 boepd from a previous guidance of 400,000 at the midpoint. Continuous Consolidation to Boost Cash Flow Brokerage Raymond James (raises TP to C$33 "outperform") says encouraged by the improved near-term free cash flow profile and enhanced longer-term growth opportunities [Read more]
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Kaybob Duvernay Opportunity
Bounty Developments Ltd. is soliciting offers for its 100% working interest in 106.5 sections (68,160 acres) of Duvernay and other PNG rights in the Kaybob area. Land is in two contiguous blocks of primarily intermediate term licences in the Light Oil Duvernay Window at Two Creeks/Windfall and at Kaybob North. This is the only large quality land base of undeveloped Duvernay rights in the Kaybob basin. Well control and extensive geological and petrographic work have de-risked land and show good [Read more]
XI Technologies: Pembina overview
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 Wednesday Word to the Wise delivered directly to your inbox, subscribe here. XI has covered the Montney play in March and the Duvernay in April. Today, we’ll draw on XI Technologies’ enriched industry data to offer a few perspectives as to what’s happening in the field of Pembina. This long-standing field [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 May. 18 COILED TUBING OPERATOR - (MHT) Trican Well Service Ltd. Medicine Hat May. 18 FRACTURING OPERATOR - (GPT) Trican Well Service Ltd. Grande Prairie May. [Read more]
Advantage announces name change to Advantage Energy Ltd
CALGARY, AB - Advantage Energy Ltd. ("Advantage" or the "Corporation") is pleased to announce that its name has changed from "Advantage Oil & Gas Ltd." to "Advantage Energy Ltd.", as approved by its shareholders on May 6, 2021. The common shares of Advantage Energy Ltd. will continue to trade on the Toronto Stock Exchange ("TSX") under the Corporation's existing trading symbol ("AAV") and it is anticipated that trading under the new name will commence within two business days following the [Read more]
Cenovus royalty sale first in plan to sell assets to reduce debt after Husky takeover
CALGARY - Cenovus Energy Inc. is selling an Alberta production royalty interest to Topaz Energy Corp. for $102 million, the first step in a plan to sell non-core assets to retire debt in the wake of its takeover of Husky Energy Inc. early this year. Cenovus says it retained the royalty interest in its Marten Hills oil assets when it sold them to Headwater Exploration Inc. in December. At the time, it said the assets which were producing about 2,800 barrels per day of medium gravity oil [Read more]
Tourmaline completes further consolidation of NEBC Montney Assets, positioning the company for higher free cash flow in 2022 and the revised five-year plan
CALGARY, AB - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce the completion of a further consolidation of NEBC Montney Assets and a guidance update. NORTH MONTNEY OVERVIEW Tourmaline continues to expand its position in the greater North Montney play area, a strategy that began in late 2016 with the acquisition of the initial Gundy property which is the current anchor of the Company's North Montney complex. With completion of the Gundy Phase 2 [Read more]
For LNG developers, another year of canceled projects
This week's decision by Australia's Woodside Petroleum Ltd to pull out of a big Canadian liquefied natural gas (LNG) project was the latest blow to a sector that has been heralded for its growth prospects worldwide. Demand for super-cooled LNG has surged in recent years as large energy-consuming nations like China and India wean themselves off dirtier coal. Demand is expected to keep hitting fresh highs, but three North American projects have stopped development in the past few months, as [Read more]
Topaz Energy Corp. announces strategic acquisitions of royalty and infrastructure assets in NEBC Montney and Marten Hills Clearwater, 5% dividend increase and bought deal equity financing
CALGARY, AB - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that in furtherance of its growth strategy of acquiring low-risk, premium growth royalty interests complemented by stable infrastructure revenue to generate free cash flow(1) growth, it has entered into definitive agreements with Tourmaline Oil Corp. ("Tourmaline") for the purchase of gross overriding royalty interests on approximately 535,000 gross acres in the NEBC Montney and working interest [Read more]
Woodside Petroleum looks to sell its 50 per cent stake in Kitimat LNG project
VANCOUVER - Woodside Petroleum Ltd. says it plans sell its 50 per cent stake in the proposed Kitimat LNG development in British Columbia. The Australian company says the plan includes the divestment or wind-up and restoration of assets, leases and agreements covering the 480-kilometre Pacific Trail Pipeline route and the site for the proposed LNG facility at Bish Cove. Woodside will keep a position in the Liard Basin upstream gas resource. Chevron Canada Ltd., the operator of the [Read more]