Oil prices were little changed on Friday as investors weighed rising supplies from major producers and the impact on fuel demand from the COVID-19 pandemic. U.S. West Texas Intermediate (WTI) crude for May was at $59.27 a barrel, down 48 cents, or 0.80%. Brent crude futures for June edged down 44 cents, or 0.69% to $62.86 a barrel. Both contracts are on track to post a 2%-3% drop this week after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known [Read more]
Headlines
Hillcrest Petroleum rebrands as Hillcrest Energy Technologies; appoints Kylie Dickson to board of directors
VANCOUVER, B.C. – Hillcrest (CSE:HEAT) (OTC:HLRTF) (CNSX:HEAT.CN) (FRA:7HI.F) (“Hillcrest” or the “Company”), today announced its rebranding as Hillcrest Energy Technologies, Ltd., choosing an identity more representative of the Company’s dedication to transitioning from fossil fuel production to clean tech innovation and IP development. CEO Don Currie also announced the appointment of Kylie Dickson to the Board of Directors of the Company. “Hillcrest is committed to driving positive innovation [Read more]
Column: Reducing methane venting in Canada
The Canadian oil and gas industry can be proud of its environmental record, as shown on this International Energy Agency (IEA) chart above. Even though Canada is a major producer, we rank tenth in the list of countries in terms of total methane emissions and similarly low in methane intensity. On March 10, 2016, Prime Minister Justin Trudeau and President Barack Obama issued a joint statement on climate change pledging to reduce greenhouse gases by: Reducing methane emissions by 40 - 45 [Read more]
Heavy crude discount edges narrower
Canadian heavy crude's discount to West Texas Intermediate (WTI) narrowed slightly on Thursday: Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, last traded at $10.35 per barrel below WTI, according to NE2 Canada Inc, tightening from Wednesday's settlement of $10.50 per barrel below the benchmark. Synthetic crude from the oil sands settled at a discount of 10 cents a barrel below WTI, narrowing from the previous settle of 25 cents per barrel below the [Read more]
Enerplus to buy some of Hess’ North Dakota assets
Canada's Enerplus Corp said it would buy some assets in North Dakota's Williston Basin from Hess Corp for $312 million, as improved oil price expectations have buoyed mergers and acquisitions in North America. Canada's oil and gas sector had a record start to 2021 in terms of mergers and acquisitions as the energy sector benefits from a rebound in oil prices from the pandemic-led crash last year, and as smaller companies bet on economies of scale. Enerplus said it will buy 78,700 net acres [Read more]
Oil falls after U.S. gasoline stocks surge against expectations
Crude prices fell on Thursday after official data showed a big increase in U.S. gasoline stocks, sparking concerns about demand weakening in the world's biggest oil consumer as crude supplies around the world rise. West Texas Intermediate dropped 43 cents, or 0.71% to $59.15 a barrel. Brent crude fell 51 cents, or 0.8%, to $62.65 a barrel. While crude oil stocks in the United States fell more than forecast by analysts, gasoline inventories jumped sharply, also against expectations, the [Read more]
Cenozon’s FIND is helping companies digitize their operations
Out in the field, mobile devices, tablets, and laptops help oil and gas workers quickly and effectively communicate with supervisors and respond to potentially serious incidents. They also play a critical role in functions like location tracking, inspection, asset management, surveying, and environmental assessments. With rapid advancements, new mobile technology is helping the oil and gas industry to improve processes, enhance productivity, increase efficiency, and improve worker [Read more]
Enerplus to acquire strategic Williston Basin assets, updates 2021 guidance and provides five year outlook
CALGARY, AB - Enerplus Corporation ("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF) today announced that it has entered into a definitive agreement to acquire assets in the Williston Basin from Hess Corporation for total cash consideration of US$312 million (the "Acquisition"). In connection with the Acquisition, the Company has updated its 2021 guidance including an increased production outlook due to operational outperformance year to date. The Company has also provided a five-year outlook [Read more]
Column: Even madmen and communists understand the real ‘energy transition’, Canada’s leadership couldn’t run a hot dog stand
While social media is devolving into a showcase of the worst human behaviour, that doesn’t mean it is uninteresting. In the old days, it required some gumption for an enterprising and not-shy lunatic to get on a soapbox and yell at the world from a street corner. Now there is no barrier to entry and total anonymity. Unfiltered and unmuzzled citizens can present a truly nauseating window into what humans are (in)capable of, thought-wise. Now and then, though, this collective consciousness [Read more]
Pieridae announces issuance of warrants
Announcement is a Vote of Confidence in the Company CALGARY - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) announced today it has granted 5,000,000 common share purchase warrants ("Warrants") to Erikson National Energy Inc. ("Erikson"). Each Warrant shall be exercisable to purchase one fully paid and non-assessable common share in the capital of Pieridae at an exercise price equal to CAD$0.70 per common share. The expiration date of the Warrants is March 31, 2026. As part of [Read more]