Oil prices fell more than 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world's no.2 economy. U.S. West Texas Intermediate (WTI) crude dropped $1.89, or 2.77% to $66.03. Brent crude was down $1.86 cents, or 2.65%, at $68.35 a barrel. Factory output and retail sales growth slowed sharply in July in China, data showed, missing expectations as [Read more]
Headlines
Vermilion Energy Inc. announces results for the three and six months ended June 30, 2021
CALGARY, AB - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and six months ended June 30, 2021. The unaudited interim financial statements and management discussion and analysis for the three and six months ended June 30, 2021 will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml, [Read more]
SNC-Lavalin completes closing of Resources Oil & Gas business
MONTREAL - SNC-Lavalin (TSX: SNC), a fully integrated professional services and project management company with offices around the world, today announces that it has completed the closing of the sale of its Resources Oil & Gas business on August 15, following receipt of Saudi Arabian regulatory approval. SNC-Lavalin previously announced that it had closed the sale of a substantial portion of its Resources Oil & Gas business on July 29, pursuant to its binding agreement with Kentech [Read more]
Bonterra Energy Corp. announces appointment of new board member
CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") is pleased to announce the appointment of Ms. Stacey McDonald to its Board of Directors (the "Board"), effective August 16, 2021. With more than 16 years of experience across the energy and finance sectors, deep knowledge of capital markets, financial analysis and the oil and natural gas industry, Bonterra believes Ms. McDonald will bring valuable insights and meaningful contributions to [Read more]
Canada’s weekly rig count up 10 to 170
Canada’s active rig count improved by 10 and averaged 170 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 29% are drilling for natural gas, 60% are drilling for oil, 4% for other (helium, hydrogen, geothermal, or potash), and 7% are moving. Drilling activity by province is 69% in Alberta, 16% in Saskatchewan, 11% in BC, 2% in Manitoba, and 2% elsewhere. Precision Drilling holds the majority of the Canadian market share [Read more]
Petrus Resources Announces Extension to Credit Agreements
CALGARY, Alberta, Aug. 13, 2021 (GLOBE NEWSWIRE) -- 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 August 13, 2021 to August 20, 2021. The Company's second lien term loan provider has also agreed to extend the maturity date of the Company's second lien term loan from October 14, 2021 to October 21, 2021. The Company continues to be in [Read more]
Petro Viking Energy Inc. announces new Director and Chief Executive Officer
Calgary, Alberta - TheNewswire – August 13th, 2021 – Petro Viking Energy Inc. (Canadian SEC: VIK) (CNSX:VIK.CN) (“Petro Viking” or the “Company”) is pleased to announce the appointment of Leonard Van Betuw as the Company’s new Director and Chief Executive Officer, effective July 14, 2021. Mr. Van Betuw replaces Gregory Doucette, the former President and CEO of the Company. Mr. van Betuw was awarded a BSc (Hon.) Degree in Geophysics in 1987 becoming recognized for his expertise in the area of [Read more]
U.S. drillers add most oil rigs in a week since April
U.S. energy firms added the most oil rigs in a week since April as the total rig count more than doubled from a record low a year ago amid a recovery in crude prices. The combined oil and gas rig count, an early indicator of future output, was up for the second week in a row, increasing nine to 500 in the week to Aug. 13, its highest since April 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday. The total rig count was up 256 rigs, or 105%, from a [Read more]
Oil steadies as Delta variant stalls demand recovery
Oil prices bounced back on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions. U.S. West Texas Intermediate (WTI) crude rose 6 cents, or 0.09%, at $68.95 a barrel, after falling 0.2% on Thursday. Brent crude was down 5 cents, or 0.07%, at $71.11 a barrel, after dropping 13 cents in the previous session. The benchmarks are still heading for [Read more]
Exxon, Chevron look to make renewable fuels without costly refinery upgrades – sources
U.S. oil major Exxon Mobil Corp, along with Chevron Corp, is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said. The two largest U.S. oil companies want to produce sustainable fuels without ponying up billions of dollars that some refineries are spending to reconfigure operations to make such products. Renewable fuels account for 5% of U.S. fuel consumption, but are poised to grow as [Read more]