CALGARY, Alberta - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is proud to announce its strong financial and operational results for the three months ended March 31, 2021. Birchcliff is also pleased to announce that it is maintaining its 2021 F&D capital expenditures guidance and increasing its 2021 production, adjusted funds flow and free funds flow guidance. “Birchcliff had a strong first quarter in 2021, highlighted by excellent drilling results. The [Read more]
Headlines
Cybersecurity experts say Canadian businesses can learn from U.S. pipeline attack
TORONTO - Cybersecurity experts say that Canadian businesses often can, and should, do more to thwart the types of attack that temporarily shut down a major U.S. gasoline pipeline. The head of BDO Canada's cybersecurity practice, Vivek Gupta, says hackers are more sophisticated than ever and exploiting gaps created by the shift to remote working. He says many companies don't take the necessary precautions until a big attack, like the one the shut down Colonial Pipeline in the U.S. this [Read more]
Natural gas straddle plant designed to reduce oilsands emissions with cleaner fuel
CALGARY - In the latest project designed to green the oilsands industry, Wolf Midstream says it will build a facility to strip petroleum liquids from natural gas used in operations near Fort McMurray, Alta., leaving a purer fuel that will burn with fewer carbon emissions. The company says its NGL North project is expected to reduce carbon dioxide emissions from oilsands projects in the Christina Lake area by over 200,000 tonnes per year by removing liquids such as ethane, propane, butane and [Read more]
Three State Chambers, US and Canadian Chambers unite: Line 5 essential To great lakes region’s energy and economic security, submit legal arguments in federal court
LANSING, Mich. - The Michigan and Ohio Chambers of Commerce, Wisconsin Manufacturers and Commerce, and both United State and Canadian Chambers of Commerce today joined forces to protect and encourage the economic future and stability of the Great Lakes region by filing a joint legal brief in U.S. federal court in the Line 5 proceeding. The business leaders' legal brief focuses on two priority issues: The implications of the governor's energy pipeline shutdown, focusing on the risks and [Read more]
Enbridge federal court case receives broad support from government, business and labour from Michigan, Canada, and throughout the region
CALGARY, AB and LANSING - The Government of Canada and entities representing hundreds of thousands of businesses and workers from across the Great Lakes region in the United States and Canada demonstrated support for Enbridge's case in federal court over the Line 5 easement in the Straits of Mackinac by submitting friend of the court briefs. Entities that submitted briefs include: The Government of Canada Attorneys General of Ohio and Louisiana Chambers of Commerce from the U.S., [Read more]
Going digital in the field: lessons in adoption from operators
According to McKinsey, improving maintenance and field operations could generate up to $37 billion of value for the global industry’s upstream operations over the next nine years. Research and case studies documenting the solid payback from digital field operations aren’t new but with the oil and gas industry facing a supply shock combined with an unprecedented demand drop and mounting pressure to reduce carbon emissions - this could be a catalyst moment. More and more companies are [Read more]
Pipestone Energy Corp. reports record first quarter 2021 results and provides an operations update
CALGARY, Alberta - (PIPE – TSX) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to report its Q1 2021 financial and operational results, as well as provide an update on its operations. Pipestone continues to efficiently grow its highly economic condensate-rich Montney asset. The Company is well on track to deliver its 2021 production guidance of 24,000 to 26,000 boe/d. The increase in natural gas and condensate prices, coupled with improving capital efficiencies and strong [Read more]
XI Technologies: The role of ARO in effective A&D
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. When scoping for acquisitions, it’s not enough to examine the potential profit of an acquisition or investment opportunity. The role and importance of liabilities continue to grow in North America, both as a result of an increased [Read more]
Oil climbs on solid demand outlook as market awaits fresh cues
Oil prices moved up on Wednesday after a drop in U.S. crude inventories reinforced OPEC's robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. U.S. West Texas Intermediate (WTI) crude futures rose 75 cents, or 1.17%, to $66.24 a barrel, adding to a 36 cent rise on Tuesday. Brent crude futures climbed 87 cents, or 1.27% to $69.51 a barrel, adding to a 23 cent gain on Tuesday. Data from the American Petroleum Institute industry group showed U.S. [Read more]
Crescent Point announces Q1 2021 results
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 March 31, 2021. KEY HIGHLIGHTS Reduced net debt by over $135 million in first quarter, driven by continued excess cash flow generation. Successfully closed accretive acquisition of Kaybob Duvernay assets, further enhancing free cash flow profile. Expect to generate significant excess cash flow of [Read more]