CALGARY, AB - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") reports that it has today agreed to a further extension to the closing date for the previously announced disposition (see press release dated October 30, 2020) of its Countess area assets. In conjunction with this extension, Journey has also executed an amendment to its credit agreement with Alberta Investment Management Corporation to extend the maturity date of the $15 million tranche of term debt, to [Read more]
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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 Feb. 16 Oil & Gas Operational Accounting Edge Liability Risk Management Regina/Calgary Feb. 16 Permitting Manager Brunel Vancouver Feb. 15 Environmental [Read more]
Bonterra Energy Corp. provides operations update and announces fully funded 2021 budget and guidance
CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today confirms that the Company's Board of Directors has approved a fully-funded 2021 capital budget of between $65 to $75 million, along with the associated guidance, and provides an operational update. Operational Update Through 2020, Bonterra invested approximately $44 million1 in capital projects, a substantial reduction from its original annual capital budget of $70 million, [Read more]
Spartan Delta buys Inception Exploration and oil and gas assets for $148 million
Calgary producer Spartan Delta Corp. says it has agreed to buy private rival Inception Exploration Ltd. and two packages of oil and gas assets in northwestern Alberta for a total of $148 million in cash and shares. The company, founded last spring through a recapitalization of Return Energy Inc. that put in place a new management team, says it has also arranged an $80-million equity financing through National Bank Financial. Spartan says it has agreed to issue 23.7 million common shares to [Read more]
U.S. natgas soars over 10% as deep freeze strains output
U.S. natural gas futures jumped as much as 10.4% on Tuesday to an over three-month high as bone-chilling weather across the United States disrupted pipeline flows and pushed up heating demand. Front-month gas futures gained 12.1 cents, or 4.2%, to $3.033 per million British thermal units at 12:33 p.m. EST, having earlier hit a peak since Nov. 5 at $3.214 per mmBtu. In the spot market, next-day power at the ERCOT North hub jumped to an all-time high of $1,489.75 per megawatt hour [Read more]
Spartan Delta Corp. announces three strategic acquisitions and $80.0 million financing
CALGARY, Alberta - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV:SDE) is pleased to announce three strategic acquisitions, executing on its stated acquisitive growth strategy within western Canada. Total consideration for the three acquisitions (the "Acquisitions") is approximately $147.9 million, subject to certain closing adjustments. The Acquisitions include the corporate acquisition of Inception Exploration Ltd. ("Inception"), a Montney focused arm's length private company with [Read more]
Resurgent Canadian natgas producers look to edge in on U.S. market
Canadian natural gas producers are bouncing back faster from the COVID-19 pandemic than battered U.S. shale firms, putting them in a position to boost net gas exports to the United States for the first time in five years. The opportunity for Canadian firms to take a piece of the market back from U.S. rivals reverses one of the dominant energy trends of the last decade, where U.S. shale drillers unleashed a flood of cheap plentiful gas - largely a byproduct of crude oil drilling - and pushed [Read more]
Oil prices near 13-month highs, supported by Texas cold snap
Oil prices hovered near 13-month highs on Tuesday, supported by a cold snap that shut wells in the biggest U.S. producing state Texas, although gains were capped by a wage deal in Norway that averted supply disruptions in Europe. The global rollout of coronavirus vaccinations, fuelling expectations of a recovery in the global economy and oil demand, has also kept prices buoyant. Keenly watched U.S. oil inventory data from the API industry association and Energy Information Administration [Read more]
Plunger well operator doubles production with this new practice
A major producer in South Texas used ALiEn2 Expert to achieve 16,000% ROI. The producer had been using a simple time-based controller to operate a plunger lift well that was showing the production of 235 Mcf/d, which was lower than expected. The producer installed an ALiEn2 Expert controller in the hopes of stabilizing production by reducing downtime. Not only did production stabilize, but it also increased to 310 Mcf/d. Once the well stabilized, the operator turned on Adaptive Seeking Velocity [Read more]
Osum advises shareholders of the potential for a superior bid
CALGARY, AB - Osum Oil Sands Corp. ("Osum" or the "Company") wishes to advise shareholders that its special committee of independent directors (the "Special Committee") is currently in discussions that could lead to a superior offer to the current takeover bid of $2.40 per share by Waterous Energy Fund (the "WEF Offer"). The Special Committee expects to be in a position to announce the outcome of those discussions in the next several days and well in advance of the February 24th expiry of the [Read more]