CALGARY, AB - Highwood Oil Company Ltd., ("HOCL" or the "Company") (TSXV: HOCL) is pleased to announce financial and operating results for the three months and twelve months ended December 31, 2020 and to provide the results of its independent oil and gas reserves evaluation as of December 31, 2020, prepared by GLJ Petroleum Consultants Ltd. ("GLJ"). Associated Management's Discussion and Analysis ("MD&A") dated April 29, 2021 and audited financial statements as at and for the year ended [Read more]
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Baytex announces first quarter 2021 financial and operating results and provides five year outlook with cumulative free cash flow of $1 billion
CALGARY, Alberta - Baytex Energy Corp. ("Baytex")(TSX: BTE) reports its operating and financial results for the three months ended March 31, 2021 (all amounts are in Canadian dollars unless otherwise noted). "We delivered strong first quarter production and free cash flow as we accelerate our deleveraging strategy. At current commodity prices, we expect to generate over $250 million of free cash flow in 2021 and we have an exciting, new, oil exploration discovery in the Clearwater oil play in [Read more]
PSAC: Opportunities and headwinds for Canadian oilfield services sector
CALGARY, AB – In its second update to the 2021 Canadian Oilfield Services Activity Forecast, released today, the Petroleum Services Association of Canada (PSAC) has revised the number of wells drilled (rig released) across Canada for 2021 to 3,600 wells. This is an increase of 250 wells over PSAC’s January 2021 Forecast of 3,350 wells. The updated forecast is based on a stronger commodity price outlook for 2021 with PSAC now expecting the WTI crude oil price to average US$58.00/barrel (WTI) [Read more]
Prairie Storm Resources Corp. announces 2020 results
CALGARY, AB - Prairie Storm Resources Corp. ("Prairie Storm" or the "Company") (TSXV: PSEC) is pleased to report its audited financial and operating results for the quarter and year ended December 31, 2020. Selected financial and operating information is outlined below and should be read in conjunction with Prairie Storm's audited annual consolidated financial statements and related management's discussion and analysis for the three and twelve months ended December 31, 2020, which are [Read more]
Hemisphere Energy announces 2020 fourth quarter and year-end financial and operating results
Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to provide its financial and operating results for the fourth quarter and year ended December 31, 2020. For Hemisphere, 2020 was a year of strengthening the balance sheet by cutting capital, reducing costs, maintaining year over year production rates, and paying down nearly 25% of its previously outstanding year-end debt. Despite spending only $1.7 million in [Read more]
Canadian regulator allows oil pipeline Trans Mountain to keep insurers names private
The Canada Energy Regulator (CER) granted on Thursday a request of government-owned oil pipeline operator Trans Mountain to keep the names of its insurers confidential, to protect them from pressure by protesters. Activists have stepped up pressure on banks and insurers to drop financing and insurance for fossil fuel companies, leading to European companies like AXA and Zurich pulling back from underwriting coal and oil sands projects. Trans Mountain has said it incurred higher costs last [Read more]
Leading oil & gas investment firm embraces carbon capture & storage
PALO ALTO, Calif., and CALGARY, AB - JOG Capital, a private equity firm with a 14-year track record managing more than $1.3 billion in energy investments, today unveiled a corporate transition and rebranding to become Carbon Infrastructure Partners ("CIP"), defining a new focus and investment mandate going forward. CIP is among the first investment firms focused on solving the dual challenge of how to meet global energy demand for 7.7 billion people while rapidly reducing carbon emissions. [Read more]
Oil prices extend gains as bullish demand outlook outweighs India concerns
Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer outweighed concerns about the impact of rising COVID-19 cases in India, Japan and Brazil. U.S. West Texas Intermediate crude for June was at $65.27 a barrel, up $1.60, or 2.5%. Brent crude for June rose $1.77, or 2.63%, to $68.75 a barrel. Oil cartel OPEC, together with Russia and their allies, a group known as OPEC+, stuck to their plans for a gradual [Read more]
Column: A view inside California’s systemic energy insanity – power outages over hydrocarbons or even nuclear
Ever get hooked on a YouTube spiral, where you start off watching one thing purposefully and by choice, then get hooked by the sequence of algorithmic suggestions, the ones that cleverly blend your interests with whatever Google wants to shove down your throat? And then you realize that the sun has set and three hours have passed? The same thing happens to me when wandering in the weird world of energy. The business used to be somewhat straightforward and tethered to reality, but now it's [Read more]
H2Safety Services Inc. – Executive announcement
H2Safety Services Inc. is immensely proud to announce that, effective today, Greg Marshall is appointed to the position of President, H2Safety Services Inc. Greg will continue to report directly to James Harasen, CEO and former President of the company. This appointment will enable James to invest significant time on developing and growing H2Safety’s proprietary emergency management software business while continuing to provide strategic direction and oversight to the entire company. Greg [Read more]