Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) (OTCQB: HMENF) ("Hemisphere" or the "Company") is pleased to announce highlights from its independent reserves evaluation (the "Reserve Report"), prepared by McDaniel & Associates Consultants Ltd. ("McDaniel") and effective as at December 31, 2020. During 2020 Hemisphere incurred capital expenditures of $1.7 million and maintained average production year-over-year at approximately 1,700 boe/d (99% heavy crude oil). [Read more]
Headlines
Brookfield says committed to hostile Inter Pipeline takeover
Investment firm Brookfield Infrastructure Partners said on Thursday it is committed to its C$7.1 billion ($5.65 billion) hostile takeover offer for Inter Pipeline Ltd despite the pipeline company's board turning down the bid. The largest individual shareholder in Inter Pipeline said it welcomes the board's "efforts to market test the offer against other take-private proposals", adding that its offer is in the best interest of the Canadian company's shareholders. Inter Pipeline on Tuesday [Read more]
Column: Warren Buffett and the pace of the ‘energy transition’ – should be done by his 200th birthday
In Omaha, Nebraska is a 90-year-old who runs a business alongside his 97-year-old business partner. While you might think encountering them driving on the freeway would be bad, I assure you that competing with them in the business world would be much worse. Those dentures will eat you alive. I’m referring of course to the youngster, Warren Buffett, and his slightly more experienced sidekick Charlie Munger. The pair run Berkshire Hathaway, a holding conglomerate so large that it frightens [Read more]
Kelt reports financial and operating results for the quarter and year ended December 31, 2020
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") has released its financial and operating results for the fourth quarter and year ended December 31, 2020. The Company's financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended December 31 Year ended December 31 (CA$ thousands, except as otherwise indicated) 2020 2019 % 2020 2019 % Petroleum and natural gas [Read more]
Tidewater Midstream and Infrastructure Ltd. announces fourth quarter 2020 results and operational update
CALGARY, AB - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that it has filed its annual consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2020. FOURTH-QUARTER 2020 HIGHLIGHTS The Corporation's full year performance continues to highlight the resiliency and stability of its integrated business model, given the challenges faced due to the global [Read more]
Shell publishes annual report and accounts
Royal Dutch Shell plc published its Annual Report and Accounts for the year ended December 31, 2020. The 2020 Annual Report and Accounts can be downloaded from www.shell.com/annualreport. In compliance with 9.6.1 of the Listing Rules, on March 11, 2021, a copy of the 2020 Annual Report and Accounts was submitted to the National Storage Mechanism. This document will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. In compliance with section [Read more]
Statement on the acquisition of shares of Petrus Resources Ltd.
CALGARY, Alberta - Each of Mr. Don Gray, Glen Gray and Stuart Gray (collectively, the "Purchasers") announce that they have each individually agreed (on a several basis) to acquire the number of common shares ("Common Shares") of Petrus Resources Ltd. ("Petrus") set forth below from an arm's length vendor, at a purchase price of $0.30 per share, pursuant to the terms of a share purchase agreement among the Purchasers and the vendor (the "Purchase Agreement). Closing of the transaction is [Read more]
Tourmaline Oil reports Q4 earnings of $629 million and 12 per cent production rise
CALGARY - Tourmaline Oil Corp. is reporting higher fourth-quarter earnings and production along with a 14% increase in its dividend following a year in which it completed four corporate acquisitions. The Calgary-based company, the largest natural gas producer in Canada, says it had net income in the last three months of 2020 of $629 million or $2.28 per share, more than 10 times the $61.3 million or 23 cents it reported in the same period of 2019. It says the increase in net earnings [Read more]
Heavy crude edges wider, holds within tight range
Canadian heavy crude's discount to West Texas Intermediate (WTI) widened slightly on Wednesday: Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, last traded at $11.15 per barrel below WTI, according to NE2 Canada Inc, widening from $10.95 per barrel below the benchmark on Tuesday. The heavy crude differential remained within a narrow range between $10.80 per barrel and $11.80 per barrel below WTI that it has traded in since early February. Light [Read more]
Tourmaline delivers earnings of $618.3 million in 2020, adds 826 MMboe of 2P reserves and increases dividend for Q1 2021
CALGARY, AB - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the full year and fourth quarter of 2020 as well as 2020 reserves. HIGHLIGHTS Achieved record production in Q4 2020, exiting 2020 producing in excess of 400,000 boepd. Achieved a record 2P reserve addition of 826.0 mmboe in 2020 with finding, development and acquisition ("FD&A") costs of $3.80/boe, including changes in future development capital [Read more]