All financial figures are in Canadian dollars CALGARY, Alberta - Suncor today announced the signing of agreements with eight Indigenous communities in the Regional Municipality of Wood Buffalo (RMWB) to acquire all of TC Energy’s 15 per cent equity interest in the Northern Courier Pipeline Limited Partnership. This historic partnership includes Suncor, three First Nations and five Métis communities who will own a 15 per cent stake in this pipeline asset with a value of approximately $1.3 [Read more]
Headlines
Well of the Week – The Deep Basin era begins
This is the sixth post in a Well of the Week series detailing how Resource Plays (basin-wide plays in which hydrocarbons are the continuous phase) have often driven Canadian oil and gas industry throughout its history. Links to the previous posts are provided at the bottom of the post. There was a bit of an interregnum in the WCSB discovery timeline as the industry kickstarted by Resource Plays thrived on a series of conventional discoveries hosted in Devonian reefs and Mississippian [Read more]
Questerre announces carbon storage project and comments on news article
CALGARY, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today it has recently completed the engineering and work program to test a carbon storage reservoir in Quebec. The operation includes an injectivity test to estimate the optimal injection rate for carbon dioxide into the storage reservoir. The test will also estimate the volume that can be safely stored in this reservoir situated at a depth of over 1000m below the surface in the Potsdam, a [Read more]
i3 Energy PLC announces notice of half year 2021 results and webcast
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 that it will be releasing its Half Year Results for the six months ended 30 June 2021 on Monday 27 September 2021. The management team will host an investor and analyst webcast at 15 p.m., (London) and 10 a.m. (Toronto) on the same day, Monday 27 September 2021, including a question and answer session. The live webcast of the [Read more]
Westcoast Energy announces redemption of cumulative 5-Year minimum rate reset redeemable first preferred shares, series 12
CALGARY, AB - Westcoast Energy Inc. ("Westcoast") announced today that it intends to exercise its right to redeem all of its outstanding Cumulative 5-Year Minimum Rate Reset Redeemable First Preferred Shares, Series 12 ("Series 12 Shares") on October 15, 2021 at a price of $25.00 per Series 12 Share, together with all accrued and unpaid dividends, if any. Beneficial holders who are not directly the registered holders of the Series 12 Shares should contact the financial institution, broker [Read more]
Peyto Exploration & Development Corp. confirms dividends for October 15, 2021
CALGARY, Alberta - Peyto Exploration & Development Corp. (TSX: PEY) ("Peyto") confirms that the quarterly dividend with respect to third quarter of $0.01 per common share is to be paid on October 15, 2021, for shareholders of record on September 30, 2021. The ex-dividend date is September 28, 2021. Dividends paid by Peyto to Canadian residents are eligible dividends for Canadian income tax purposes. Shareholders and interested investors are encouraged to visit the Peyto website at [Read more]
Cenovus announces the pricing terms of its pending any and all tender offer
CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the pricing terms of its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 3.950% Notes due 2022 and its outstanding 3.000% Notes due 2022 (collectively, the “Any and All Notes”). The terms and conditions of the Any and All Tender Offer are described in the Offer to Purchase, dated September 9, 2021 (the “Offer to Purchase”). The Any and All Tender Offer will [Read more]
Oil surge gives private equity a window to exit stranded Canadian energy firms
A slew of private equity-backed oil and gas companies have been put up for sale in the Canadian energy patch, as higher crude prices prompt buyout shops to exit and free some of their capital that was locked far longer than originally intended. The sales are providing attractive opportunities for small and mid-cap Canadian oil companies to bulk up their operations, improving their chances to access debt and capital markets and cut costs through economies of scale. An industry source, [Read more]
Oil prices climb after drawdown in stocks, positive demand outlook
Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world's largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen. But a fall in China's crude oil throughput in August with daily refinery runs hitting the lowest since last May, and overall factory output faltering, capped oil price gains. U.S. West Texas Intermediate (WTI) crude climbed $1.82, or 2.57%, to $72.61 a [Read more]
Biden’s lofty climate goals collide with political, economic reality
President Joe Biden campaigned on a promise to restore U.S. leadership in the global fight against climate change and followed up with a dizzying number of executive orders and lofty targets to slash emissions. But nine months into his presidency, political, legal, and economic obstacles have forced his administration to make several moves in support of fossil fuels development at home and abroad, and raised questions about whether the Democrat will be able to meet his commitments to clean [Read more]