Oil prices rose on Monday, supported by optimism about COVID-19 vaccinations, a U.S. stimulus package and growing factory activity in Europe despite coronavirus restrictions. U.S. West Texas Intermediate (WTI) crude jumped 15 cents, or 0.24%, to $61.68 a barrel. Brent crude was up 44 cents, or 0.68%, at $64.84 a barrel. Both contracts finished February 18% higher. “The three major supportive factors are the prevalent vaccine rollouts, the optimism about economic growth, and the view that the [Read more]
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Access to objective data is the key to ESG reporting success
GDM Pipelines delivers new data and analytics for insight into ESG performance The past five years have brought unparalleled changes to the Canadian oil and gas industry. A global pandemic, downward pressure on oil prices, emission reductions in response to new climate change initiatives, and increasing scrutiny from investors are just a few of the issues that are top of mind. These changes have also brought about an increased focus on ESG (environmental, social, and governance) initiatives [Read more]
Tamarack Valley Energy Ltd. announces fourth quarter and year end 2020 financial results and reserves highlights
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2020 and the results of its independent oil and gas reserves evaluation as of December 31, 2020, prepared by GLJ Ltd. ("GLJ") (the "GLJ Report"). Selected financial, operational and reserves information is outlined below and should be read with Tamarack's audited consolidated financial statements ("Financial [Read more]
Ten new properties on PNGX
There are 10 new properties are available on PNG Exchange: Aldon Oils Ltd. Properties: Weir Hill/Steelman – Midale/Frobisher Bryant – Midale/Frobisher Bemersyde – Bakken/Red River Midale – Midale Frobisher Weyburn – Midale Anegada Oil Corp. Properties: Valhalla – Montney Peace River Arch/ Worsley Canlin Energy Corporation Property: Saskatchewan Fee Title Auction April 30th Crew Energy Inc. Properties: Golden Lake SK – Heavy Oil Wildmere AB – Heavy Oil About PNG Exchange PNG [Read more]
Pembina Pipeline Corporation files 2020 year-end disclosure documents
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL) (NYSE: PBA) has filed its audited consolidated financial statements for the year ended December 31, 2020 as well as the related management's discussion and analysis, with Canadian securities regulatory authorities. Pembina has also filed its Form 40-F for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission. Investors and other stakeholders can obtain these documents via www.sedar.com, [Read more]
Canada’s weekly rig count drops 8 to 177
Canada averaged 177 active drilling rigs this week according to data from the Canadian Association of Oilwell Drilling Contractors. Of those rigs, 103 are drilling for oil, 70 are drilling for natural gas, 2 for other (helium, hydrogen, geothermal, or potash), and 2 are moving. Drilling activity by province is 116 in Alberta, 36 in Saskatchewan, 8 in British Columbia, 2 in Manitoba, and 15 in other. Precision Drilling holds the majority of the Canadian market share with 30 per cent, Ensign [Read more]
PSAC statement on Alberta Budget 2021
CALGARY, AB – The Petroleum Services Association of Canada (PSAC) is pleased that the Government of Alberta is focused on measures to address the healthcare challenges of the ongoing pandemic and its impacts on the economy. The budget is also focused on ensuring that Alberta has a competitive advantage for business, capital investment, and jobs to aid in economic recovery and growth. Elizabeth Aquin, Interim President and CEO of PSAC says, "It is reassuring to hear that the Alberta government [Read more]
U.S. drillers add rigs for 7th month in a row, pace slows
U.S. energy firms this week added oil and natural gas rigs for a seventh month in a row, but the rate of growth slowed in February even as oil prices rose to their highest since 2019. The oil and gas rig count, an early indicator of future output, rose five to 402 in the week to Feb. 26, its highest since May, energy services firm Baker Hughes Co said in its closely followed report on Friday. The total oil and gas rigs rose for a seventh month in a row for the first time since May [Read more]
Crude-by-rail exports are rebounding after a drastic drop in 2020 due to COVID and other factors
CALGARY - Canadian Crude by rail exports fell by nearly 40 per cent in 2020, averaging 172,013 barrels per day (b/d), compared to 280,272 b/d in 2019, according to the Canada Energy Regulator (CER). While the OPEC+ price war played a role in the initial drop of oil production in 2020, the COVID-19 pandemic caused lower oil demand and a continued drop in crude oil production in Western Canada leading to excess pipeline capacity and lower volumes of crude oil being shipped via rail for much [Read more]
TC Energy and TC PipeLines, LP announce unitholder approval and effective date of merger
CALGARY, Alberta - News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and TC PipeLines, LP (NYSE:TCP) (TCP) announced that at the special meeting of TCP common unitholders held earlier today, TCP unitholders voted to approve the previously announced merger of TCP and a wholly owned subsidiary of TC Energy pursuant to the Agreement and Plan of Merger dated December 14, 2020 (the “Merger Agreement”) between TCP, TC Energy and certain other related parties thereto. Approximately [Read more]