CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) (“Cenovus” or the “Selling Shareholder”) and Headwater Exploration Inc. (TSX: HWX) (“Headwater” or the “Company”) announced today that they have entered into an agreement with Peters & Co. Limited and BMO Capital Markets (the “Lead Underwriters”), on behalf of a syndicate of underwriters (together with the Lead Underwriters, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, [Read more]
Headlines
Complete gas & liquids production company for sale
Gas production company with rights to the natural gas in the Mannville in section 11-053-01W5M which has a well, 102/07, with Ellerslie perfs at 1334.0-1336.0 mKB. No offsetting drainage issues. The well has its own automated choke/dehy plant with a separator building. The well produces about 5.5 bbl/MMscf of condensate and has a continuous cycling plunger-lift installed. The well is rate limited by the local gas co-op’s sales gas meter at 325 mcf/d. The well only produces during the [Read more]
Chair Resources Inc. – Property divestiture
Chair Resources Inc. and Chair Holdings Limited (collectively “Chair” or the “Company”) has engaged Sayer Energy Advisors (“Sayer”) to assist it with the sale of all of the assets of the Company which are located throughout western Canada. The Company’s oil and natural gas assets consist of long-life, low-decline, non-operated oil and natural gas working interests and royalty interests in the Verger, Lloydminster, Swan Hills, Nipisi, Hangingstone/Portage and Fontas areas of Alberta and [Read more]
Goldman expects oil prices to hit $90 by year-end as supply tightens
Goldman Sachs raised its forecast for year-end Brent crude oil prices to $90 per barrel from $80, as a faster fuel demand recovery from Delta variant and Hurricane Ida's hit to production led to tight global supplies. U.S. West Texas Intermediate (WTI) crude was up $1.66, or 2.25% at $75.59 a barrel. Brent Crude prices were trading at $79.72 a barrel, up $1.68, or 2.15%. Brent futures hit a near three-year high last week as global output disruptions have forced energy companies to pull [Read more]
Column: Worldwide energy shortage shows up in surging coal, gas and oil prices: Kemp
Record gas and electricity prices in Europe, record coal prices in China, multiyear-high gas prices in the United States and oil prices well above their real long-term average are all manifestations of the same global energy shortage. In the aftermath of the coronavirus recession, energy production has failed to keep up with rapid growth in consumption as energy producers struggle to raise output while demand has bounced back quickly. The business cycle downturn and slump in energy prices [Read more]
Velocity Group and MiraCAD partnership announcement
Grande Prairie, AB – Velocity Group and MiraCAD Technologies Inc. recently became a Strategic Partnership to deliver innovative solutions that combine Velocity’s proven Surveying, Environmental and Civil Engineering services with MiraCAD’s advanced Reality Capture and Visualization services. This new Strategic Partnership provides clients with a complete solution for all Industrial Facility Geomatics related requirements. From infrastructure development to 3D as-built surveying, Velocity and [Read more]
Global oil demand seen reaching pre-pandemic levels by early 2022
Global fuel demand is expected to reach pre-pandemic levels by early next year as the economy shrugs off pandemic woes, but spare refining capacity is likely to weigh on outlook, oil producers and traders said on Monday. While a persistent rise in COVID-19 infections in several markets has hurt recovery in demand for some refined products such as jet fuel, consumption trends of petrol and diesel indicate higher growth, the industry leaders said. They were speaking at the Platts APPEC 2021 [Read more]
Final week to bid on Century Auctions and ClubBid.com’s absolute public online oilfield equipment auction
Featuring: 3-Stage Compressors, Reciprocating Compressors, Separators, Dehydrators, Flare Stacks, Mud Chillers, Decompression Systems, Free Water Knock Outs and Much More! All of these assets can be found in Day 3 of our absolute public online Foothills consignment auction on ClubBid.com, closing on Thursday, September 30 at 10 a.m. (MST) View, join & bid on day 3 (Oilfield) lots here. Let’s take a closer look at some of the assets in this auction: The Startec Mud Chiller [Read more]
i3 Energy PLC announces interim report and dividend declaration
EASTLEIGH, UK - i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the unaudited results for the period ended 30 June 2021. A complete copy of the Company's unaudited 2021 H1 Report and Interim Financial Statements will be available on the Company's website at https://i3.energy/investor-relations/regulatory-news. HIGHLIGHTS Dividend Declaration Concurrent with this Interim Report, i3 announces an [Read more]
Baker Hughes sees global required LNG capacity at 800 mln tonnes by 2030
Oil and gas services giant Baker Hughes Co sees the need for global liquefied natural gas (LNG) capacity to rise to 800 million tonnes by 2030, more than double current capacity, its chairman said on Monday. Baker Hughes sees strong prospects for gas in the transition to cleaner energy, with LNG combined with carbon capture and storage helping to reduce the industry's carbon footprint. "We've taken up our estimate of the required installed base of LNG by 2030 up to 800 million tonnes," [Read more]