CALGARY, Alberta - Freehold Royalties Ltd. (“Freehold”) (TSX:FRU) announces that it has closed its previously announced acquisition of diversified, high quality, U.S. royalty assets (the “Acquired Assets”) for US$58 million (the “U.S. Royalty Transaction”). The Acquired Assets will play a key role in strengthening the resiliency of Freehold’s portfolio, enhancing the near-term and long-term sustainability of Freehold’s dividend and providing option value to return capital to shareholders through [Read more]
Headlines
Oil prices up on OPEC output cut talks, Iran tension
Oil prices rose by around $1 on Tuesday as tension simmered following Iran’s seizure of a South Korean vessel and as the OPEC+ group studied a possible production cut in February. U.S. West Texas Intermediate crude for February was at $49.46 a barrel, up $2.10 cents, or 4.51% Brent crude futures for March rose $2.03 to $52.78 a barrel, or 4%. Both contracts fell more than 1% on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, failed [Read more]
Now available: Argus Media 2021 Canada crude oil trading calendar
Download the 2021 Canada Crude Oil trading calendar to ensure you are prepared for 2021. Having access to this calendar puts the important crude oil trading dates in one place. Canada calendar dates include: Enbridge NOS due dates Canada physical trade window open dates Argus publishing holidays Argus is a leading energy and commodity price reporting agency that provides price assessments, analysis, bespoke consulting services and industry-leading conferences for the global [Read more]
ELM Inc. – Delivering a positive impact in a highly sensitive environmental area
ELM Inc. is pleased to announce the successful completion of a multi-dimensional field abandonment and decommissioning project in the Manyberries area of southeast Alberta for the Orphan Well Association (OWA). This project represents over a year of strategic planning and organization to develop and implement a plan that addressed the challenging environmental and conservation protocols placed on oil and gas activities in the Manyberries area. To complete this project required significant [Read more]
Obsidian Energy announces first half 2021 drilling program and guidance
CALGARY, AB - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy" or the "Company") today announced first half 2021 guidance as the Company continues to advance its development in the Cardium area. A total of $35 million in capital expenditures plus $5 million in decommissioning expenditures is currently budgeted for the first half of 2021, furthering the Company's Cardium development activity in Willesden Green with a planned seven well drilling program that builds on the 2020 [Read more]
OPEC+ resumes talks after February split on oil output
OPEC+ resumes debate on Tuesday after talks stumbled over February policy, as Russia led calls for higher output while others suggested holding or even cutting production due to new lockdowns. Debate resumes at 1430 GMT after the group, which combines OPEC and other producers including Russia, failed to find a compromise on Monday. OPEC+ sources told Reuters that Russia and Kazakhstan backed raising production by 0.5 million bpd while Iraq, Nigeria and the United Arab Emirates suggested [Read more]
Suncor to record impairment charge on White Rose assets
All financial figures are in Canadian dollars. CALGARY, Alberta - Suncor today advised that it will record in the fourth quarter of 2020 a non-cash after-tax impairment charge of approximately $425 million on its share of the White Rose asset and West White Rose Project. While the asset is currently producing, the West White Rose Project was intended to access 200 million barrels (gross) of crude oil and extend the life of the White Rose field by approximately 14 years. However, the recent [Read more]
Alberta minister, premier’s chief of staff lose jobs after overseas trips amid COVID-19 curbs
A Cabinet minister for the province of Alberta and the premier's chief of staff have stepped down after travelling internationally over the Christmas holidays despite COVID-19 restrictions, Alberta Premier Jason Kenney said on Monday. Kenney, leader of the United Conservative Party (UCP), said on social media he has accepted the resignation of Municipal Affairs Minister Tracy Allard and asked his chief of staff Jamie Huckabay to step down. Last week, Ontario's Finance Minister Rod Phillips [Read more]
Whitecap Resources Inc. announces closing of NAL Resources, strong finish to 2020 and robust first quarter drilling program
CALGARY, AB - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has successfully completed the previously announced strategic combination with NAL Resources Limited ("NAL") (the "NAL Combination"). Whitecap issued approximately 58.3 million Whitecap common shares in exchange for all the issued and outstanding NAL shares. 2020 was a very challenging year on many fronts, but our financial discipline and operational strength has allowed us to capture [Read more]
Cenovus closes transaction to combine with Husky
CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is pleased to announce that its strategic combination with Husky Energy Inc. has closed. The transaction creates a resilient integrated energy leader that is well positioned to provide superior returns for investors over the long term, as well as strong environmental, social and governance (ESG) performance. The transaction was completed through a definitive arrangement agreement announced on October 25, 2020 under which Cenovus [Read more]