Oil prices will see a gradual uptick this year as economies shake off pandemic blues and weather headwinds from the coronavirus crisis in India and a potential return of Iranian supply, a Reuters poll showed on Tuesday. The survey of 45 participants forecast Brent would average $64.79 per barrel -- the sixth straight upward revision in the 2021 consensus -- up slightly from April's $64.17 projection. The benchmark has averaged $63.52 so far this year. "In the second half of the year, [Read more]
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i3 Energy PLC announces final results for the year ended 31 December 2020
EASTLEIGH, UK - i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the audited results for the year ended 31 December 2020. A copy of the Company's financial statements will be posted to shareholders and made available shortly on SEDAR and the Company's website at https://i3.energy/investor-relations/reports-and-presentations/ together with a Notice of Annual General Meeting ("AGM"). The AGM will be held [Read more]
Oil prices climb as demand to outstrip supply in Q2
Oil prices climbed in early Asian trade on Monday, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the OPEC+ meeting this week for supply guidance. U.S. West Texas Intermediate crude for July was at $67.25 a barrel, up 63 cents, or 0.95%. Brent crude futures for August rose 68 cents, or 0.99%, to $69.66 a barrel after settling at their highest in two years on Friday. Both contracts are on track for a second monthly gain as [Read more]
Helium – Essential to the tech explosion and an opportunity for Alberta E&Ps
The race to develop the most advanced quantum computers, the development of new rocket technology by companies like Space-Ex, and our industrial demand for semiconductors have brought a keen focus to helium demand globally. However, as a resource, helium has the paradoxical distinction of being the second-most common element in the universe, while at the same time, being rare in concentration on earth. The Helium Paradox In industry, helium is used in controlled environments because it is [Read more]
Here’s how pipeline operators are leveraging technology to manage the threat of wildfires
Each year in Canada, over 8000 Wildfires burn over 2.5 Million Hectares. Monitoring these fires and the dangers they pose can be a monumental task. That’s why Cenozon has developed their WildFire application. Cenozon’s WildFire application uses GIS mapping to display your company assets overlaid with real-time locations of wildfires. By combining operational schematics with up-to-date information on wildfires, it has never been easier to visualize where your assets are, where the wildfires [Read more]
Remanufactured oilfield equipment products
When purchasing oilfield equipment, you need to consider a few critical factors, such as equipment life span, cost, availability, and production timeline. Oilfield equipment comes in a variety of conditions: New: Equipment that has never been used and is typically sold by the original equipment manufacturer. New Surplus: These products have never been used but may have been built some time ago, so they may not have the latest features and may show some cosmetic imperfections. This [Read more]
i3 Energy PLC announces South Simonette consolidation
i3 Energy plc, an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the execution of a strategic acquisition in its core Simonette area, taking operatorship and doubling its position in a premium light oil asset in the Lower Montney. Highlights: Acquired an additional 49.5% position plus operatorship in the Company's South Simonette oil property, increasing i3's interest to 99%. Cost to exercise the Right of First Refusal [Read more]
How will China’s latest oil probe affect the world’s biggest crude importer?
This year China's government has been gradually ramping up scrutiny of its sprawling oil industry, reinforcing its authority with new taxes on refined products while investigating crude imports by state energy giants and independent refiners. Last Tuesday, the country's top economic planning agency gave five state-owned companies just two days to report on their historic use of imported oil, part of a broader effort by the world's largest oil importer to control inbound shipments as domestic [Read more]
Cuda Oil and Gas Inc. announces first quarter financial and operating results
Calgary, Alberta - Cuda Oil and Gas Inc. ("Cuda" or the "Company") (TSXV: CUDA) announces its financial and operational results for the first quarter ended March 31, 2021. Cuda's unaudited interim condensed consolidated financial statements and management's discussion and analysis ("MD&A") as at and for the three months ended March 31, 2021 and 2020, are available under the Company's profile on the SEDAR website at www.sedar.com. Significant First Quarter Highlights The Company's [Read more]
Petrofrontier Corp. announces filing of Q1 2021 financial and operating results
CALGARY, AB - PetroFrontier Corp. ("PetroFrontier" or the "Company") (TSXV:PFC) announces that the Company's First Quarter 2021 Financial Statements and Management's Discussion and Analysis have been filed on SEDAR (www.sedar.com). [Read more]