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U.S. energy firms this week added oil and natural gas rigs for a third week in a row, as a recovery in oil prices prompted some drillers to return to the wellpad over the past year. The oil and gas rig count, an early indicator of future output, rose three to 503 in the week to Aug. 20, its highest since April 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday. That puts the total rig count nearly double from the same period last year, when rig count [Read more]

Oil prices dropped on Friday, on track for a weekly loss of over 5% as new lockdowns in countries facing surging cases of the Delta variant dampened the outlook for fuel demand. Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to a nine-month high on signs the U.S. Federal Reserve is considering reducing stimulus this year. U.S. West Texas Intermediate (WTI) crude futures for September, due to expire on Friday, slipped 51 cents or 0.80% to $63.10 a barrel, [Read more]

Oil prices fell for a sixth day, the longest losing streak since February 2020, as a spike in COVID-19 cases worldwide fuelled fears over slower fuel demand while a surprise build in U.S. gasoline inventories added to pressure. U.S. West Intermediate crude (WTI) fell 98 cents, or 1.50%, to $63.60 a barrel, the lowest since May 24. Brent crude was down $1.08, or 1.60%, at $66.42 a barrel, after touching the lowest since May 24 at $67.10 earlier in the session. WTI has dropped over 7% while [Read more]

CALGARY, AB - Prairie Storm Resources Corp. ("Prairie Storm" or the "Company") (TSXV: PSEC) is pleased to report its unaudited financial and operating results for the three and six months ended June 30, 2021. Selected financial and operating information is outlined below and should be read in conjunction with Prairie Storm's unaudited interim condensed consolidated financial statements and related management's discussion and analysis as at and for the three and six months ended June 30, [Read more]

This is the second article in a series describing how Resource Plays (basin-wide plays in which hydrocarbons are the continuous phase) have often driven development throughout the history of the Canadian Oil and Gas industry. A link to the previous article is provided at the bottom of the post. Resource Play Type: Mudrock Oil (Second White Specks) Discovery Well UWI: 100/14-29-001-30W4/00 Lineham No. 1 (based on information from First Oil Well in Western Canada National Historic [Read more]

Collicutt Energy Services has signed an agreement with Rolls-Royce Power Systems to supply mtu engines and systems in Alberta starting June 1, 2021. The agreement covers both natural gas power generation and oil & gas sales and service rights. With its mtu brand, Rolls-Royce is one of the top power system manufacturers globally and has been serving the oil and gas industry for over 70 years with the highest standards in durability, reliability, and technological expertise. mtu diesel [Read more]