Saturn commences development drilling and workover program in West Central Saskatchewan Warrants from June 2021 equity financings are now listed for trading on the TSX-V as SOIL.WT The board of directors has approved the grant of 12.5 million incentive stock options Calgary, Alberta - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMK) ("Saturn" or the "Company") is pleased to announce the start of a three well development drilling program in West Central Saskatchewan. In addition, the [Read more]
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Abu Dhabi National Energy Co nears deal to sell some Canadian assets to Blue Sky
Abu Dhabi National Energy Company is nearing a deal to sell some light oil and natural gas-producing assets in Alberta and British Columbia to privately owned Blue Sky Resources Ltd. Abu Dhabi National Energy Company, also called TAQA, has reached an agreement on terms of the sale to Blue Sky and the deal is now awaiting approval from the Alberta Energy Board. "If and when any deal is finalized and approved by the relevant authorities, we will make an announcement in line with regulatory [Read more]
Oil prices slip, rebound runs out of steam on demand worries
Crude oil prices reversed course after an early bounce on Tuesday, as concerns over coronavirus curbs combined with slowing factory activity in key markets weighed on sentiment. U.S. West Texas Intermediate (WTI) crude was down $ 2.23, or 3.11%, at $69.37 a barrel. Brent crude oil futures shed $1.95, or 2.68%, to $71.22 a barrel. Both markets dropped more than 3% on Monday. ANZ analysts in a note highlighted resurgent economic risks to major oil consumer China from the coronavirus [Read more]
Inter Pipeline issues notice of change recommending Brookfield offer and provides update on Heartland Petrochemical Complex
CALGARY, AB - Inter Pipeline Ltd. ("Inter Pipeline" or the "Company") (TSX: IPL) today announced that it is filing its second notice of change to its Directors' Circular (the "Notice of Change") concerning the recommendation of the Inter Pipeline Board of Directors (the "Board") that shareholders accept the revised takeover offer filed on July 19, 2021 (the "Revised Brookfield Offer") from an affiliate of Brookfield Infrastructure Partners L.P. ("Brookfield"). Additionally, Inter Pipeline [Read more]
ConocoPhillips delivers strong second-quarter 2021 financial and operational results following recent 10-year market update
Reported earnings of $2.1 billion; adjusted earnings of $1.7 billion. Generated cash provided by operating activities of $4.3 billion; cash from operations of $4.0 billion. Produced 1,547 MBOED excluding Libya. HOUSTON - ConocoPhillips (NYSE: COP) today reported second-quarter 2021 earnings of $2.1 billion, or $1.55 per share, compared with second-quarter 2020 earnings of $0.3 billion, or $0.24 per share. Excluding special items, second-quarter 2021 adjusted earnings were $1.7 billion, or [Read more]
International Petroleum Corporation second quarter 2021 financial results and sustainability report 2020
TORONTO - International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2021. IPC also released its Sustainability Report 2020, which details the Corporation's environmental, social and governance (ESG) performance. Q2 2021 Business and Financial Highlights Average net production of approximately 44,600 [Read more]
Canada’s weekly rig count continues at 153
Canada averaged 153 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 33% are drilling for natural gas, 59% are drilling for oil, 1% for other (helium, hydrogen, geothermal, or potash), and 7% are moving. Drilling activity by province is 67% in Alberta, 18% in Saskatchewan, 12% in BC, and 3% elsewhere. Precision Drilling holds the majority of the Canadian market share with 34%, Ensign Drilling with 18%, Savanna Drilling [Read more]
Petrus Resources announces extension to credit agreements
CALGARY, Alberta - 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 July 30, 2021 to August 13, 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 September 30, 2021 to October 14, 2021. The Company continues to be in discussions with the bank syndicate on a [Read more]
i3 Energy PLC announces operational update
EASTLEIGH, UK - i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, announces the following update. Marten Hills Clearwater Drilling Well completion, production equipment installation and tie-in operations have been completed for wells 01-12-075-26W4 and 02-12-075-26W4. Eight horizontal lateral legs (totalling 13,057m in the 01-12 well and 12,644m in the 02-12 well, at a maximum true vertical depth of 630m) were drilled [Read more]
Imperial Oil earns $366 million; Kearl oilsands site sets 25-year production record
CALGARY - Imperial Oil Ltd. says it earned $366 million in the second quarter and boosted production to its highest level in 25 years for the same period. The Calgary-based company says it earned 50 cents per share in the three months ended June 30, compared with a net loss of $526 million or 72 cents per share in the same period of 2020. However, its second quarter earnings declined from the first quarter of 2021, when it earned $758 million. Its cash flow from operating activities in the [Read more]