Canadian heavy crude's discount to West Texas Intermediate (WTI) narrowed on Wednesday: Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $14.05 per barrel below the WTI benchmark, according to NE2 Canada Inc, narrower than Tuesday's settlement of $14.40 per barrel below U.S. crude futures. The narrowing differential reflects strong margins for refiners, and room for increased runs with some turnarounds wrapping up soon, an industry source [Read more]
Headlines
Oil drops for third day on concerns COVID-19 variant spread to cut demand
Oil prices fell for a third day on Wednesday on mounting concerns that the increasing spread of the Delta variant of the coronavirus in top consuming countries will cut fuel demand. U.S. West Texas Intermediate (WTI) crude fell $1.49, or 2.06%, to $68.76 a barrel. Brent crude oil futures slid $1.38, or 1.91%, to $70.90 a barrel. Both futures fell on Tuesday to their lowest since July 21 before regaining some ground by the close. The United States and China, the world's two biggest [Read more]
NuVista Energy Ltd. announces positive second quarter 2021 financial and operating results
CALGARY, Alberta - NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce financial and operating results for the three and six months ended June 30, 2021, and provide a number of updates which demonstrate continued successful advancement of our Pipestone and Wapiti Montney play development. This was a successful quarter for NuVista, with results that included the continued ramp-up of production in the new Pipestone North compressor station facility, the completion [Read more]
Razor Energy Corp. announces strategic light oil consolidation acquisition in Swan Hills, Alberta enhancing oil & gas, geothermal power, carbon capture, and hydrogen production opportunities
CALGARY, Alberta - Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce that it has entered into a definitive agreement to acquire certain non-operated working interest assets in its Swan Hills, Alberta core region (the “Assets”) for a total purchase price of $5 million cash, subject to certain closing adjustments (the “Acquisition”). The Assets consist of Swan Hills Unit No. 1 (the “Unit”), Judy Creek Gas Plant (the “Plant”) and South Swan Hills Unit Gas Gathering [Read more]
Paramount Resources Ltd. reports second quarter 2021 results and announces August dividend
CALGARY, AB - HIGHLIGHTS Sales volumes averaged 79,995 Boe/d (43 percent liquids) in the second quarter of 2021, ahead of the Company's guidance of 77,000 Boe/d to 78,000 Boe/d (42 percent liquids), driven by continued outperformance at Karr.(1) Sales volumes at Karr averaged 38,679 Boe/d (54 percent liquids) in the second quarter, ahead of expectations and approximately 5,500 Boe/d higher than first quarter production, despite a seven-day scheduled curtailment at the third-party [Read more]
XI Technologies: Finding opportunity in the Alberta Inactive Well List
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. Last week, we profiled Alberta’s Inactive Well List, looking at a six-month snapshot of activity in the list. Tracking the list can be a helpful indicator of the health of the industry, help drive liability decision-making, and [Read more]
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 Aug. 3 Pipefitters - Journeyman and Apprentices Roska DBO Grande Prairie Aug. 1 Stress and Vibration Engineer, Liquids Facilities Pipe Integrity TC [Read more]
Heavy crude discount narrows as monthly trading cycle begins
Canadian heavy crude's discount to West Texas Intermediate (WTI) narrowed on Tuesday, the start of a new monthly trading cycle: Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $14.40 per barrel below the WTI benchmark, according to NE2 Canada Inc, narrower than $14.70 per barrel below U.S. crude futures on Monday. Physical trading of Canadian crude is busiest in the first half of each month until nominations are due to ship volumes on [Read more]
Gibson Energy announces new tankage at Edmonton terminal
CALGARY, AB - Gibson Energy Inc. announced today it has sanctioned the construction of new tankage at its Edmonton Terminal. "We are pleased to announce the sanction of new tankage at our Edmonton Terminal, extending our pipeline of high-quality, long-term infrastructure growth projects," said Steve Spaulding, President and Chief Executive Officer. "We continue to see the need for additional tankage in Edmonton ahead of the Trans Mountain Pipeline Expansion entering service and remain in [Read more]
Gibson Energy announces 2021 second quarter results
All financial figures are in Canadian dollars unless otherwise noted CALGARY, AB - Gibson Energy Inc. announced today its financial and operating results for the three and six months ended June 30, 2021. "We are pleased to report another solid quarter from both an operational and financial perspective, with our Infrastructure segment performing in-line with our expected run-rate on a normalized basis and Marketing moderately above our initial outlook," said Steve Spaulding, President and [Read more]