Calgary, Alberta - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce it will commence operations of Phase I of the Mica Pad Development mid-July and should be on production by mid to late October. The first Pad will consist of 4 wells with 3 placed into the Lower Montney and one placed into the Basal Montney. The wells will have horizontal lengths of 2400 metres and be completed with a minimum of 130 fracs. Each stage will have 25-35 tonnes of sand per [Read more]
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Obsidian Energy announces change to board of directors
Calgary, Alberta - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") announces the resignation of Maureen Cormier Jackson and William (Bill) Friley from the Board of Directors (the "Board") effective immediately. Mr. Friley joined the Board in 2015 and Ms. Cormier Jackson joined in 2016. Gordon Ritchie, Chair of the Board, commented, "I would like to thank both Maureen and Bill for their invaluable contributions during their respective [Read more]
InPlay Oil Corp. announces extension of credit facility
CALGARY, Alberta - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces that the maturity date applicable to and redetermination of the borrowing base under the Company’s Senior Credit Facility has been extended from June 14, 2021, to June 30, 2021. A further extension of the annual renewal and redetermination has been agreed upon in order to provide additional time for InPlay and the banking syndicate to finalize the negotiation of terms. For further information [Read more]
Pembina highlights growing momentum with business update and extensive opportunity portfolio
All financial figures are approximate and presented in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"), which is a financial measure that is not defined by Generally Accepted Accounting Principles ("GAAP"). For more information, see "Non-GAAP Measures" herein. CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) today announced a mid-year [Read more]
Canada’s crude oil exports have increased 15-fold in 30 years
The value of crude oil exports from Canada has increased over 15-fold in the last 30 years, according to a report from Statistics Canada and the Canada Energy Regulator. The increase means exports of the resource accounted for more than 14 per cent of Canada’s total exports in 2019 with a value of $84.3 billion. In 1990, crude oil made up only 3.6 per cent of the country's total exported products. The report says crude oil production has also grown considerably over the last three [Read more]
Petrus Resources announces extension to credit agreements
CALGARY, Alberta - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) announces its syndicate of lenders has extended the borrowing base termination date on its senior revolving credit facility agreement from June 14, 2021 to June 30, 2021. Its second lien term loan provider has also extended the maturity date of the Company's term loan from August 16, 2021 to August 31, 2021. The Company continues to be in discussions with the bank syndicate on a one-year extension to the credit [Read more]
TC Energy appoints new independent director
CALGARY, Alberta - News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) today announced the appointment of a new independent director, William D. (Bill) Johnson, effective June 14, 2021. Mr. Johnson brings extensive experience in the energy sector to TC Energy’s Board of Directors. Mr. Johnson served as President and Chief Executive Officer of PG&E Corporation from 2019-2020; President and Chief Executive Officer of Tennessee Valley Authority from 2013 to 2019; Chairman, [Read more]
Minnesota court affirms regulator approval of Enbridge Line 3 oil pipeline
The Minnesota Court of Appeals on Monday affirmed a state regulator's decision that there is sufficient oil demand for Enbridge Inc to justify the replacement of its Line 3 pipeline. The decision marks another hurdle cleared for the Canadian pipeline company's efforts to replace an aging pipeline that carries Alberta oil sands crude through the state. Line 3, which entered service in 1968, ships crude from Alberta to U.S. Midwest refiners, and carries less oil than it was designed for [Read more]
Petro Viking Energy Inc. announces the execution of a binding agreement to acquire 100% of Avila Energy’s interests in West Central Alberta for $50,664,000 and the subsequent name change of the Corporation to Avila Energy
Calgary, Alberta – Petro Viking Energy Inc. (“Petro Viking” or the “Company”) (CNSX:VIK.CN) is pleased to announce the proposed asset purchase of 100% of Avila’s interests in 53,835 Acres, 43,935 Acres (Net), of mineral rights, associated wells, pipelines and facilities for the purchase price of $50,664,000 CAD. The Purchase Price for the Acquisition is being satisfied by way of the issuance of 40,440,000 Class A common shares (the “Common Shares”) at $0.60 per share and 30,000,000 convertible [Read more]
Oil prices climb as demand outlook improves, supplies tighten
Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply. U.S. West Texas Intermediate gained 89 cents, or 1.26%, to stand at $71.70 a barrel, earlier reaching $71.32, the highest since October 2018. The contract rose 1.9% on the week. Brent crude was up 85 cents, or 1.17%, at $73.46. It earlier rose to $73.12, the highest since May [Read more]