CALGARY, Alberta, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (“Freehold”) (TSX:FRU) is pleased to announce that it has appointed David Spyker as its new President and Chief Executive Officer. Mr. Spyker joined Freehold as Vice-President, Production in November 2016 and was appointed Chief Operating Officer in March 2019. Since September 2020 Mr. Spyker has served as Freehold's Interim President and Chief Executive Officer. Mr. Spyker has over 30 years of industry experience. He [Read more]
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Vermilion Energy Inc. Announces 2021 Budget
CALGARY, AB, Jan. 18, 2021 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) is pleased to announce its 2021 exploration and development ("E&D") capital budget and associated production guidance. Highlights E&D capital budget of $300 million is a balanced and disciplined budget focused on maximizing returns and free cash flow ("FCF")(1) to facilitate debt reduction. Annual average production guidance of 83,000 to 85,000 [Read more]
Hillcrest Closes Private Placement
VANCOUVER, B.C. - TheNewswire - January 18, 2021 – Hillcrest Petroleum Ltd. (the “Company” or “Hillcrest”) (TSXV:HRH) (OTC:HLRTF), announces that it has closed a non-brokered private placement of up 25,340,000 units of the Company (the “Units”) at a price of $0.05 per Unit for gross proceeds of up to $1,267,000 (the “Offering”). Each unit consists of one common share (a “Share”) and one share purchase warrant (the “Warrant”). Each Warrant will be exercisable into an additional common share of [Read more]
Knowledge Energy Inc. – non-core property divestiture
Knowledge Energy Inc. (“Knowledge” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in Alberta, specifically in the Provost, Wildmere, Veteran, and Morningside areas west of the Fourth Meridian and in the Mirage, Sneddon and Bonanza areas west of the Sixth Meridian (the “Properties”). The Properties consist of both oil and natural gas producing wells along with high-quality prospective drilling [Read more]
Documents show Biden plans Day 1 order nixing Keystone XL
WASHINGTON, D.C. — Transition documents suggest president-elect Joe Biden plans to block the Keystone XL pipeline on his first day in the White House. The documents, seen by The Canadian Press, include a to-do list dated Wednesday that includes rescinding the construction permit signed by predecessor Donald Trump. Campaign officials promised in May that if elected, Biden would cancel the controversial cross-border project, but the timeline was never clear until now. The pipeline [Read more]
Kenney, Moe condemn Biden’s plan to scrap Keystone XL on Day 1 of presidency
OTTAWA - The Alberta and Saskatchewan premiers are condemning Joe Biden's plan to scrap the Keystone XL pipeline expansion on his first day as U.S. president. Biden's plan is outlined in transition documents seen by The Canadian Press. Jason Kenney and Scott Moe say halting construction on the controversial project will be disastrous for both the Canadian and U.S. economies. Kenney says his government -- which announced a $1.5 billion investment into the expansion last year -- is [Read more]
Keystone XL commits to become first pipeline to be fully powered by renewable energy
HOUSTON - Media Advisory - TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the company) today announced a new sustainable energy initiative for the Keystone XL Project. The company will achieve net zero emissions across the project operations when it is placed into service in 2023 and has committed the operations will be fully powered by renewable energy sources no later than 2030. This announcement comes after an extensive period of study and analysis, and as part of the company’s ongoing [Read more]
Oilpatch woes boost Calgary’s downtown office vacancy rates to record levels
CALGARY - Vacancies in Calgary's downtown office towers have risen to record levels and there's no landlord relief in sight with almost one in three offices sitting empty and sublets accounting for a quarter of available spaces on the market. The city's glut of empty office space has previously been linked to overbuilding but two commercial real estate reports released this past week show that downtown vacancy rates in Canada's oil and gas capital are the highest in the country and growing — [Read more]
Distinction Energy Corp. (formerly named Delphi Energy Corp.) announces amendment and exercise of warrants issued to Kiwetinohk Resources Corp. and related amendments to Investor Agreement and Management Services Agreement
CALGARY, Alberta, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Distinction Energy Corp. (formerly named Delphi Energy Corp.) (“Distinction” or the “Company”) announces that, effective January 15, 2021, the warrant certificate representing 3,348,799 class A common share purchase warrants of the Company (the “Warrants”) issued to Kiwetinohk Resources Corp. (“KRC”) was amended and restated to, among other things, facilitate an early exercise of the Warrants, which KRC exercised on January 15, 2021 at an [Read more]
Cardinal announces its 2021 operating and capital budget focused on continued debt reduction and asset optimization
CALGARY, Alberta - (CJ:TSX) Cardinal Energy Ltd. ("Cardinal" or the "Company") is pleased to announce that its Board of Directors has approved an operating and capital budget for 2021 that will focus on debt reduction, maintaining production levels and abandonment and reclamation expenditures. Highlights of 2021 Budget Generates adjusted funds flow of $70 to $75 million; Approximately $40 to $45 million or 55% to 60% of adjusted funds flow will be utilized for debt repayment; [Read more]