CALGARY, AB - Inter Pipeline Ltd. ("Inter Pipeline" or the "Company") (TSX: IPL) today announced that its Board of Directors ("Board") is recommending acceptance of the revised takeover offer filed on July 19, 2021 (the "Revised Brookfield Offer") from an affiliate of Brookfield Infrastructure Partners L.P. ("Brookfield") in light of the termination of the Pembina Arrangement (defined below). The recommendation follows consultation with legal and financial advisors and a recommendation of [Read more]
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Hemisphere Energy establishes new $35 million credit facility and announces early payout of its term loan
Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF)("Hemisphere" or the "Company") is pleased to announce that it has entered into a new extendible two year committed term facility with ATB Financial (the "Lender"), providing for borrowings of up to $35,000,000 (the "Credit Facility"). As part of entering into the Credit Facility, the Company has fully repaid and terminated its existing term loan with Cibolo Energy Partners (the "Former Term Loan"). The [Read more]
XI Technologies: Tracking Alberta’s 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. Alberta is showing its commitment to managing the clean up of oil and gas wells with the announcement of a new Directive for Licensee Life-Cycle Management (see our article from last week for details). With that in mind, we thought it [Read more]
Crescent Point announces Q2 2021 results and upwardly revises 2021 production guidance
CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the quarter ended June 30, 2021. KEY HIGHLIGHTS Successfully closed the acquisition of Kaybob Duvernay assets and disposition of southeast Saskatchewan conventional assets, both as previously announced, further enhancing the Company's balance sheet strength and sustainability. Reduced net debtŦ by approximately $360 [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 Jul. 27 Production Engineer West Lake Energy Calgary Jul. 27 Analyst, Measurement AltaGas Calgary Jul. 27 CMMS Business Process Lead Brunel Calgary Jul. [Read more]
Ovintiv reports second quarter 2021 financial and operating results
Dividend Increased by ~50%, New Debt Target Established Second Quarter Highlights: Generated second quarter cash from operating activities of $750 million, non-GAAP cash flow of $733 million and non-GAAP free cash flow of $350 million Reduced net debt(1) by $1.2 billion to $5.2 billion; accelerated expected timeline of $4.5 billion net debt target to year-end 2021 Continued to demonstrate industry-leading capital efficiencies with operational efficiency gains and supply chain [Read more]
Tamarack Valley Energy Ltd. announces second quarter financial results, operational update & executive changes
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce its financial and operating results for the three and six months ended June 30, 2021. Selected financial and operational information is outlined below and should be read in conjunction with Tamarack's unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2021 and related management's discussion and analysis ("MD&A") which are available on SEDAR at [Read more]
Oil prices retrench on massive hedge fund sales
Portfolio managers sold petroleum last week at one of the fastest rates for a decade, after an upsurge in coronavirus cases and an OPEC+ agreement to boost output caused them to reassess the likelihood of further price increases. Hedge funds and other money managers sold the equivalent of 172 million barrels in the six most important futures and options contracts in the week to July 20, the fastest rate since July 2018. The sales volume was the sixth highest out of more than 430 weeks [Read more]
Public relations strategies for the oil and gas sector
When it comes to measuring brand image - credibility, trustworthiness, and expertise are essential factors that play a significant role in shaping public perceptions. But with many important discussions happening around social and environmental issues, businesses that want to build trust and engagement cannot afford to sit on the sidelines. For an industry at the nexus of many of these discussions, the oil and gas sector has a particularly complicated job when it comes to managing a public [Read more]
Private equity firm to buy Canada’s idled Come-by-Chance oil refinery
Private equity firm Cresta Fund Management has agreed to buy a controlling stake in idled Canadian 135,000-barrel-per-day (bpd) Come-by-Chance refinery, a fund representative said on Monday, with the aim of converting it to renewable fuels production. The refinery, owned by North Atlantic Refining Ltd (NARL), has been idled for more than a year. Several refiners since then have announced plans to convert their operations to renewable fuels production to remain viable as both Canada and the [Read more]