Some people want governments to keep natural gas in the ground. Secondstreet.org examined what that would mean for everyday Canadians. https://www.youtube.com/watch?v=y1NHFljxO7E [Read more]
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Vermilion Energy Inc. announces results for the year ended December 31, 2020 and 2020 reserves information
CALGARY, AB - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and financial results for the year ended December 31, 2020 along with our 2020 reserves information. The audited financial statements, management discussion and analysis and annual information form for the year ended December 31, 2020 will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, on EDGAR at [Read more]
Attack on Saudi oil site fuels upward march for crude prices
BANGKOK - Oil prices remained elevated Monday as Saudi Arabian oil facilities were targeted by drone strikes just days after the largest crude exporting nations in the world said they would not increase output. Brent crude, the international standard, surpassed $70 per barrel for the first time in over a year. Even after it lost ground in afternoon trading, at $68.19 a barrel prices are still hoverning at levels not seen since the early days of last year. Benchmark U.S. crude oil also gave [Read more]
As debate rages over cross-border pipelines, U.S. analysts brace for more oil by rail
The fierce debate over cross-border pipelines is putting more Canadian oil and gas on trains destined for the United States — a country experts fear is ill-equipped for the potential consequences. It would take an oil-by-rail calamity of a scale comparable to the 2013 Lac-Mégantic disaster in Quebec before Americans wake up to the dangers, U.S. rail safety analysts say. "There's a bullet whizzing past our head," said Eric de Place, an energy policy expert and director at the Sightline [Read more]
Innovus convertible frac sleeves deliver impressive bullhead injection distribution in Viking waterflood
Background Waterflooding is a common method of secondary oil recovery in unconventional shales that can boost production and recovery by 20 to 40%. Waterflood effectiveness, however, has been limited by uneven water injection along the lateral, leading to inefficient sweep patterns and “short circuits” that bypass significant recoverable oil. To date, operators have had limited options for managing the injection profile, whether in new-drill or converted production wells. The two most common [Read more]
Volunteering opportunity: Geoscience BC Geothermal Technical Advisory Committee
Geoscience BC is seeking volunteers to join our Geothermal Technical Advisory Committee (TAC), a group of experts that identifies, plans, develops, and reviews our independent, relevant, and public geothermal-related earth science research in British Columbia. Geoscience BC’s Minerals, Oil & Gas, and Geothermal TACs are an essential part of our agile and innovative organization. They generate, solicit, review and recommend proposals for Board approval and their expertise is vital to the [Read more]
Spartan Delta Corp. announces completion of $45 million bought deal financing
CALGARY, AB - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV: SDE); (TSXV: SDE.R) is pleased to announce it has closed its previously announced bought deal public offering of 11,250,000 subscription receipts (the "Subscription Receipts") at a price of $4.00 per Subscription Receipt for aggregate gross proceeds of $45.0 million (the "Prospectus Offering"). The syndicate of underwriters for the Prospectus Offering was led by National Bank Financial Inc. and included Eight Capital, Stifel [Read more]
Hillcrest receives conditional approval for CSE listing
VANCOUVER, B.C. - Hillcrest Petroleum Ltd. (TSXV:HRH) (OTC:HLRTF) (FRA:7HI.F) (“Hillcrest or the “Company”) is pleased to announce that, further to its news release dated September 8th, 2020 in respect of the Company’s plans to delist its common shares (the “Shares”) from the TSX Venture Exchange (the “TSXV”) and move its listing to the Canadian Securities Exchange (the “CSE”), the Company has now received conditional approval to list on the CSE. Further the Company has filed an application to [Read more]
Tamarack Valley Energy announces update on strategic acquisition
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce the execution of a definitive agreement with Woodcote Petroleum Inc. ("Woodcote") pursuant to which the Company will acquire all of the issued and outstanding shares of Woodcote, a private company with a 100% operated working interest in Greater Nipisi (the "Acquisition") for aggregate consideration of $43.0 million, comprised of $32.0 million in cash, subject to adjustment, and 4,888,889 [Read more]
Brent cracks $70 for first time since pandemic began after Saudi facilities attacked
Brent crude futures jumped above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities. Brent crude futures for May reached $71.16 a barrel in early Asian trade and were at $70.76 a barrel, up $1.40, or 2%. U.S. West Texas Intermediate (WTI) crude for April rose $1.32, or 2%, to $67.41. The front-month WTI price touched $67.86 a barrel earlier, the [Read more]