As we continue toward global oil supply and demand balance with the impacts of the pandemic beginning to slowly fade, there is a renewed focus on ESG and carbon policy by both industry and government. ESG and carbon policy may drive up North American energy production costs In response to the need to strengthen Environmental, Social and Governance (ESG) practices, energy companies in North America are re-evaluating the way they operate to attract investment. In addition to the ESG movement, [Read more]
Headlines
Recruitment firms going strong: Demystifying the business
Despite challenges in Calgary’s oil and gas sector, there is continued strong demand for external expertise in personnel search and recruiting for large and small energy companies, from CFO to Production & Revenue Accountant. It is an employers’ market these days, however, sorting through the increased volume of applicants is onerous and time-consuming. A large percentage of candidates who are employed and not actively looking at job ads, but are ready to hear about new opportunities. [Read more]
XI Technologies: Open Asset Evaluation for April 2021
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. Succeeding in oil and gas development comes down to how well and how quickly you can analyze potential opportunities. Once a month, XI Technologies will apply its evaluation tools to a currently available asset to give readers a sense [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 Apr. 6 COILED TUBING OPERATOR - (RDC) Trican Well Service Ltd. Red Deer Apr. 6 COILED TUBING SUPERVISOR - (RDC) Trican Well Service Ltd. Red Deer Apr. [Read more]
Questerre and ZEG Power sign letter of intent for blue hydrogen
CALGARY, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) is pleased to announce a letter of intent (the “LOI”) with ZEG Power AS (“ZEG Power”), a private Norwegian company, to evaluate their proprietary leading edge blue hydrogen technology for the Company’s Clean Tech Energy project in Quebec. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We believe hydrogen will become a cornerstone of the emerging circular economy. As we move from near [Read more]
Heavy crude discount edges wider
Canadian heavy crude's discount to West Texas Intermediate (WTI) widened on Tuesday in choppy trade. Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, last traded at $10.10 per barrel below WTI, according to NE2 Canada Inc, widening from Monday's settlement of $9.85 per barrel below the benchmark. Early in Tuesday's session, WCS changed hands at $9.75 a barrel below WTI. Synthetic crude from the oil sands traded at $1.00 a barrel above WTI, weakening [Read more]
Pembina Pipeline Corporation announces redemption of Series 13 preferred shares, declares dividends, and announces first quarter 2021 results conference call and webcast
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today its intention to redeem its issued and outstanding Cumulative Redeemable Minimum Rate Reset Class A Preferred Shares, Series 13 (TSX: PPL.PR.M) (the "Series 13 Shares") on June 1, 2021. The Company further announced that its Board of Directors has declared a common share cash dividend for April 2021 of $0.21 per share and quarterly dividends for the Company's preferred [Read more]
Waterous Energy Fund announces the final step of its acquisition of Osum Oil Sands Corp; shareholder meeting to be held April 30, 2021 to approve the transaction
CALGARY, AB - Waterous Energy Fund ("WEF") and Osum Oil Sands Corp. ("Osum") announce today that Osum has entered into an amalgamation agreement with WEF Osum Acquisition Corp. ("WOAC") under which Osum will amalgamate with WOAC, with the amalgamated entity ("Amalco") becoming an entity wholly-owned by WEF (the "Amalgamation"). Osum's board has called a meeting of holders ("Osum Shareholders") of common shares of Osum ("Osum Shares") to consider the proposed Amalgamation. This Amalgamation [Read more]
Canadian oil producers CNRL, Cenovus plan new emissions targets, no shift to renewables
Canadian Natural Resources (CNRL) and Cenovus Energy, two of Canada's biggest oil producers, said on Tuesday they will set new goals to reduce greenhouse gas emissions, but not pivot away from their core businesses. Oil sands producers, who extract some of the world's most carbon-intense crude, face pressure from investors to reduce their environmental impact. Prime Minister Justin Trudeau plans to raise Canada's carbon price steeply over time to position the country for carbon-neutral status [Read more]
Teine Energy Ltd. announces closing of private offering of senior unsecured notes
CALGARY, AB - Teine Energy Ltd. ("Teine") has closed its previously announced senior unsecured notes offering (the "Notes Offering"). Teine has issued US$400 million in aggregate principal amount of 6.875% senior unsecured notes due in 2029 (the "Notes"). The Notes were issued pursuant to an indenture dated as of April 6, 2021, by and between Teine and Wilmington Trust, National Association, as trustee. Teine intends to use the net proceeds of the Notes Offering to redeem in full the US$350 [Read more]