CALGARY, Alberta - Gibson announced today that Ms. Peggy Montana will join the Company’s Board of Directors effective August 31, 2020. “We are very pleased to have Peggy Montana join Gibson’s Board of Directors,” said James Estey, Chairman of Gibson. “Through her significant experience in various board and senior executive roles within the midstream and refined products sectors, predominantly at an international supermajor, Peggy brings a wealth of knowledge of global best practices in health, [Read more]
Headlines
U.S. court rejects bid to halt Kinder Morgan gas pipeline
A nearly-complete $2.3 billion pipeline to carry natural gas from West Texas shale fields to the U.S. Gulf Coast can move ahead, a U.S. judge in Austin, Texas, ruled on Friday, rejecting an environmental group’s effort to halt the project. Sierra Club in April challenged federal approval of the 428-mile (689 km) Kinder Morgan Inc pipeline, alleging regulators’ reviews under a streamlined process were faulty. The line’s path crosses areas with two endangered species and some 400 wetlands, [Read more]
Oil prices edge up on stimulus support despite ample supplies
Oil prices nudged up on Monday, with Brent futures set to post a fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID levels in a well supplied market. Brent crude futures for November climbed 27 cents, or 0.6%, to $46.08 a barrel by 0038 GMT, while U.S. West Texas Intermediate crude was at $43.11 a barrel, up 14 cents, or 0.3%. Brent is set to close out August with a fifth successive monthly price rise, having peaked at [Read more]
PNG Exchange new properties
Here are a few of the newest properties on PNG Exchange. Visit the listing for more details and to contact the company's representative. Central Alberta Duvernay | Barrel Oil Corp. 100,000 Net Acres 100% W.I. in prospective Duvernay rights Grand Prairie Duvernay | TimberRock Energy Inc. 98,000 Net Acres 100% W.I. primarily All PNG rights located East of Grand Prairie NEBC Yoyo Disposition | Crew Energy Inc. 2500 Net Acres NEBC Helmet Disposition | Crew Energy Inc. 6255 [Read more]
Gear Energy Ltd. announces completion of August 31, 2020 redetermination of credit facilities
CALGARY, AB - Gear Energy Ltd. (TSX: GXE) is pleased to announce that the syndicated credit facilities redetermination scheduled for August 31, 2020 has been completed with no changes to the borrowing base. The next regularly scheduled borrowing base redetermination date is November 30, 2020 with the maturity date remaining May 28, 2021. [Read more]
Whitecap announces strategic combination with NAL Resources in all-stock transaction
CALGARY, AB, Aug. 31, 2020 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has entered into an agreement in an all-stock transaction valued at approximately $155 million (the "Transaction") with NAL Resources Limited ("NAL") and a privately held wholly owned subsidiary of Manulife Financial Corporation ("Manulife"). NAL has oil and gas operations in Alberta and Saskatchewan and is currently producing approximately 27,000 boe/d (55% oil and [Read more]
Obsidian Energy proposes combination transaction to Bonterra Energy Corp.
CALGARY, AB - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", "we", or "our") today announced that it has sent the following letter to Bonterra Energy Corp. (TSX: BNE) ("Bonterra") proposing a combination transaction that would be expected to result in significant cost synergies and drive substantial accretion across all financial metrics for both Obsidian Energy and Bonterra. August 31, 2020 Bonterra Energy Corp. 901, 1015 – 4th Street SW Calgary, Alberta T2R [Read more]
Canada’s weekly rig count continues at 52
Canada’s fleet of active drilling rigs continues at 52 this week according to data from the Canadian Association of Oilwell Drilling Contractors. Total drilling count for the week of August 24 is 52, 21 of which are drilling for oil and 30 for natural gas. Drilling activity by province as of August 28 is 34 in Alberta, 13 in B.C., and 5 in Saskatchewan. Precision Drilling holds the majority of the Canadian market share with 38 per cent, Ensign Drilling with 17 per cent, Nabors Drilling [Read more]
U.S. drilling rig count steady, posts first monthly increase since Dec
U.S. energy firms kept the number of oil and natural gas rigs operating unchanged this week, resulting in the first monthly increase since December as higher crude prices prompt some producers to start drilling again. In August, the oil and gas rig count rose by three to 254, according to data on Friday from energy services firm Baker Hughes Co . The rig count fell to a record low of 244 during the week of Aug. 14. U.S. oil rigs fell three to 180 in the week to Aug. 28, while gas rigs [Read more]
Leucrotta Exploration Inc. Announces Grant of Incentive Stock Options
Calgary, Alberta - Leucrotta Exploration Inc. (TSXV: LXE) (the "Corporation") announces that its board of directors approved the granting of incentive stock options ("Options") under its stock option plan to certain of its directors and officers to acquire up to an aggregate of 5,465,000 common shares ("Common Shares") of the Corporation and the granting of Options to certain of its employees and consultants to acquire up to an aggregate of 1,535,000 Common Shares. All of the Options are [Read more]