CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) and (NYSE: CPG) has completed the disposition of its remaining non-core southeast Saskatchewan conventional assets ("Assets"), which were previously identified as disposition candidates, for cash proceeds of $93 million ("Transaction"). As a result of the Transaction, Crescent Point also reduced asset retirement obligations ("ARO") by approximately $220 million, or nearly 25 percent of its ARO balance as at [Read more]
Headlines
Worker operating excavator killed at Syncrude mine site in northern Alberta
FORT MCMURRAY - Occupational Health and Safety says a Syncrude employee operating an excavator was killed Sunday at an oilsands mine in northern Alberta. Government spokeswoman Natasha McKenzie says it happened at the company's Aurora mine, about 70 kilometres north of Fort McMurray. McKenzie says no other details can be released as the death is still being investigated. Syncrude says in a statement that the worker died Sunday evening "despite emergency response efforts." The company [Read more]
U.S. regulator tells pipeline operators to prepare for methane curbs
The U.S. Department of Transportation's pipeline regulator on Monday sent an advisory to oil and gas pipeline operators directing them to update their inspection and maintenance plans for curbing the release of potent greenhouse gas methane, as part of the Biden administration's broader effort to combat climate change. The DOT’s Pipeline and Hazardous Materials Safety Administration (PHMSA) submitted the advisory bulletin to prod companies to begin to comply with the PIPES Act, a law signed [Read more]
Oil hits new multi-year highs; investors eye Iran nuclear talks this week
Oil extended gains to hit fresh multi-year highs on Monday, underpinned by a brighter economic and fuel-demand outlook, while investors eyed the outcome of talks between Iran and world powers over a nuclear deal that is set to boost crude supplies. U.S. West Texas Intermediate crude for July touched $70 for the first time since October 2018 and was at $69.58 a barrel, up 20 cents, or 0.29%. Brent crude futures for August rose 20 cents, or 0.28%, to $71.79 a barrel, their highest since May [Read more]
Pieridae Energy forms strategic partnerships – CCS and Clean Power LNG
Pieridae Energy's Caroline Carbon Capture Power Complex is looking to use CCS and clean power to offset their Goldboro LNG emissions. However, Pieridae is facing a deadline that is just about three weeks away. June 30th is the target date for an FID decision on whether to proceed with their Goldboro LNG export terminal. LNG on Hold LNG proposed facilities have waned in popularity in the past year or so. Some were put on pause like Pembina’s Jordan Cove LNG in Oregon. Others lost funding [Read more]
Kaybob Duvernay opportunity
Bounty Developments Ltd. is soliciting offers for its 100% working interest in 106.5 sections (68,160 acres) of Duvernay and other PNG rights in the Kaybob area. Land is in two contiguous blocks of primarily intermediate-term licences in the Light Oil Duvernay Window at Two Creeks/Windfall and at Kaybob North. This is the only large quality land base of undeveloped Duvernay rights in the Kaybob basin. Well control and extensive geological and petrographic work have de-risked land and show [Read more]
Pembina reinforces superior proposal for Inter Pipeline shareholders through highly strategic combination
CALGARY, AB - Pembina Pipeline Corporation ("Pembina") (TSX: PPL) (NYSE: PBA) today reinforced its view of the substantial value opportunity for shareholders of Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) through the board-supported strategic combination with Pembina (the "Strategic Combination"). Pembina also cautioned Inter Pipeline shareholders not to tender their shares to Brookfield Infrastructure Partners L.P.'s ("Brookfield") opportunistic, hostile offer that would deny them the [Read more]
Saturn Oil & Gas Inc. Closes Brokered and Non-Brokered Private Placement
Calgary, Alberta--(Newsfile Corp. - June 4, 2021) - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMK) ("Saturn" or the "Company") is pleased to announce that, further to the Company's press releases dated May 13, 2021, May 17, 2021 and May 28, 2021, it has closed the brokered and non brokered private placements for total proceeds of $32.8 million. "With the closing of these financings, Saturn is one step closer to concluding our transformational acquisition of high-quality, light oil assets [Read more]
Canada’s weekly rig count up 31 to 97
Canada averaged 97 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 35% are drilling for natural gas, 45% are drilling for oil, 2% for other (helium, hydrogen, geothermal, or potash), and 18% are moving. Drilling activity by province is 62% in Alberta, 12% in BC, 23% in Saskatchewan, and 4% elsewhere. Precision Drilling holds the majority of the Canadian market share with 35%, Ensign Drilling with 19%, Savanna Drilling [Read more]
U.S. oil & gas rig count falls for first time in six weeks
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in six weeks as growth in drilling slows despite crude prices hitting their highest since 2018. The U.S. oil and gas rig count, an early indicator of future output, fell by one to 456 in the week to June 4, according to data on Friday from energy services firm Baker Hughes Co. Despite this week's decline, the total rig count was up 172 rigs, or 61%, over this time last year. It was also up [Read more]