CALGARY, AB - PetroFrontier Corp. ("PetroFrontier" or the "Company") (TSXV:PFC) is pleased to announce the following: Private Placement PetroFrontier has completed a non-brokered private placement for aggregate gross proceeds of $373,469 (the "Private Placement") whereby the Company issued an aggregate of 4,979,583 common shares ("Common Shares") from its treasury at a price of $0.075 per Common Share. Proceeds from the Private Placement will be used to fund development and provide [Read more]
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Treeline Well Services LP acquires Kodiak Well Servicing Assets
Treeline Well Services LP is excited to announce the acquisition of the service rig assets of Kodiak Well Servicing. The purchase consists of one (1) high spec, new generation, double service rig built by KSM and two (2) boiler packages (80 HP and 100 HP). Kodiak Well Servicing has a respected and long-standing history in the northeast BC well servicing industry. This move is a continuation of Treeline’s growth strategy and enables us to build and grow our base in northeast British Columbia. [Read more]
Enerplus to report second quarter 2021 results August 5
CALGARY, AB - Enerplus Corporation ("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF) will be releasing operating and financial results for the second quarter of 2021 after market close on Thursday, August 5, 2021. A results conference call will follow on Friday, August 6, 2021, hosted by Enerplus' President & CEO, Ian C. Dundas, to discuss the results. Details of the conference call are noted below. Second Quarter of 2021 Results Live Conference Call [Read more]
Heavy crude discount narrows on rising demand, tight stocks
Canadian heavy crude's discount to West Texas Intermediate (WTI) narrowed on Wednesday due to rising demand and tight stocks: Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, traded at $13.30 per barrel below the WTI benchmark, according to NE2 Canada Inc, narrower than Tuesday's settle of $13.55 a barrel under the benchmark. WCS is seeing the highest outright prices in seven years, said Iqbal Gill, head of hydrocarbon supply at BarrelTEX. Refinery [Read more]
Strategic Central Alberta acquisition delivers strong free cash flow proposed conditional placing and primary bid offer
i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce that its wholly owned Canadian subsidiary has signed into escrow, pending receipt of irrevocable commitments for the Placing (as defined below), a definitive agreement with Cenovus Energy Inc., a senior Canadian oil and gas producer, to acquire certain petroleum and infrastructure assets within i3's Central Alberta core area (the "Assets"), for a total [Read more]
Oil steadies after tumble as market awaits OPEC+ clarity
Oil prices dipped on Wednesday, recovering from a steep drop in the previous session, after the cancellation of talks among OPEC+ producers that raised the prospect the world's major crude exporters will turn on the taps to gain market share. U.S. West Texas Intermediate (WTI) crude futures traded down 36 cents, or 0.49% to $73.40 a barrel. Brent crude was down 35 cents, or 0.47%, at $74.54 a barrel, after slumping more than 3% on Tuesday. Energy ministers from OPEC+, a grouping that [Read more]
Column: What would Putin do?
If you were running a country, and you’re not sure of the best path forward, a good piece of advice might be: What would Putin do? I get it, he might not seem like the best example. The Ex-KGB despot’s tactics tend to be a bit on the barbaric side, like explaining nature to a kindergarten class by releasing a bunny and a wolf into the classroom simultaneously. But hear me out. First and foremost, I’m no politician, and lobbing advice is easy, and I know that. But some things are [Read more]
Oil turmoil reminds markets of inflation pain points
OPEC+ brinkmanship has taken oil prices towards $80 a barrel, the highest since 2018, threatening to upend central banks' transitory inflation narrative as well as the post-pandemic economic recovery. Last year's Saudi-Russian oil war showed that disputes between OPEC+ members do not always result in higher prices, but this week's standoff within the group sent prices higher, building on year-to-date gains of around 50%. Many traders do not discount a return to $100 a barrel, levels last [Read more]
Shell second quarter 2021 update note
The Hague, July 7, 2021 − As a result of strong operational and financial delivery, combined with an improved macro-economic outlook, Shell will move to the next phase of its capital allocation framework and, subject to final Board approval, increase total shareholder distributions to within the range of 20-30% of CFFO, starting at the Q2 results announcement. The level of additional distributions will be determined with full visibility of the Q2 financial results. In the second quarter, [Read more]
XI Technologies: M&A Snapshot – Kiwetinohk Resources Corp. and Distinction Energy Corp.
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. M&A announcements continue to dominate the headlines in the oil and gas industry. As the premier tool for scoping and evaluating corporate and asset A&D opportunities, we are pleased to offer some high-level summaries of a [Read more]