CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce that it has successfully closed its accretive transaction previously announced on February 17, 2021. The Company has acquired Shell Canada Energy's Kaybob Duvernay assets in Alberta (the "Assets") for $900 million (the "Acquisition"). This strategic Acquisition enhances Crescent Point's core principles of balance sheet strength and sustainability. In particular, these [Read more]
Headlines
Pieridae hires new Chief Operating Officer
CALGARY, Alberta - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) announced today it has hired a new Chief Operating Officer (“COO”). Darcy Reding will join the Pieridae team April 5th. Mr. Reding is a professional engineer with 30 years of success in small and mid-sized private and public upstream oil and gas companies, with 20 years in leadership roles. “We are extremely pleased that Darcy has agreed to join our organization,” said Pieridae CEO Alfred Sorensen. ”It is [Read more]
Canada’s cash-rich oil sands firms face pressure to spend on transition
Canada's biggest oil sands producers are generating billions more in free cash flow in a faster-than-expected pandemic rebound, but taking a cautious approach to spending it that is disappointing environment-minded investors. Their strategy to repay debts and pay shareholders has won praise from investors in Canadian Natural Resources, Suncor Energy, and Cenovus Energy who are eager for higher returns. But greener shareholders warn they could divest or oppose management. The sharp recovery [Read more]
Advantage announces advanced Modular Carbon Capture and Storage (“MCCS”) technology, first commercial MCCS deployment at Glacier, and founding of Entropy Inc.
CALGARY, AB - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") and Allardyce Bower Consulting Ltd. ("ABC") are pleased to announce they have jointly developed breakthrough carbon capture and storage technology capable of commercial profitability at a carbon price below CDN$50/tonne. The first deployment of the technology will occur at Advantage's Glacier Gas Plant near Grande Prairie, Alberta and is expected to enter service by March 2022. The Modular Carbon Capture and [Read more]
Cenovus completes amalgamation with Husky Energy Inc.
CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that effective March 31, 2021, its wholly owned subsidiary Husky Energy Inc. (“Husky”) has been amalgamated with Cenovus under the provisions of the Canada Business Corporations Act (the “amalgamation”). The company will continue to operate as Cenovus Energy Inc. As a result of the amalgamation, Husky will no longer be required to file reports with the securities regulatory authorities in Canada or the United [Read more]
ARC Resources and Seven Generations announce shareholder and court approval of strategic Montney combination
CALGARY, AB - (TSX: ARX) (TSX: VII) ARC Resources Ltd. ("ARC") and Seven Generations Energy Ltd. ("Seven Generations") are pleased to announce that the shareholders of each company have voted in favour of the proposed business combination (the "Business Combination") to create the premier Montney producer and leader in responsible energy development. The Business Combination is expected to be completed on or about April 6, 2021 and is subject to the satisfaction of all closing [Read more]
Bonterra Energy CEO says end of takeover battle with Obsidian comes as a relief
CALGARY - The chairman and CEO of Bonterra Energy Corp. says he's relieved that rival Obsidian Energy Ltd. ended its hostile takeover campaign this week after seven months of trying to persuade investors to accept a share-swap deal. George Fink says that despite feeling "animosity" from some of the criticisms sent his way during the lengthy campaign, he is still willing to work collaboratively with Obsidian and, in fact, the companies share ownership of some oil and gas properties. The [Read more]
Seven Generations shareholders approve $8.1-billion merger with Arc Resources
CALGARY - Shareholders in Seven Generations Energy Ltd. have voted to approve a merger with fellow Calgary-based producer Arc Resources Ltd. to create Canada's sixth largest oil and gas company. At a brief special virtual meeting on Wednesday, shareholders heard that enough shares had already been voted by proxy to carry the motion in favour of the deal, which is valued at $8.1 billion including debt. It required two-thirds approval to proceed. At a second meeting today, ARC shareholders [Read more]
Arc/Seven Generations merger vote today would create sixth largest oil and gas producer
CALGARY - No surprises are expected today as shareholders in ARC Resources Ltd. and Seven Generations Energy Ltd. vote virtually on an all-shares transaction to form Canada's sixth-largest oil and gas producer. The merger, valued at $8.1 billion including debt, comes amid a spate of consolidation in the Calgary-based oilpatch but analyst Cody Kwong of Stifel FirstEnergy says what makes it unusual is that it is the combination of two equally well-respected intermediate companies. He says [Read more]
Transporting over dimensional loads and complying with provincial requirements
The equipment required to produce oil and gas in the petroleum industry comes in a variety of sizes, from a small wellsite separator to a large compressor. Major components are often mounted on large skids to accommodate the auxiliary equipment required to operate the units. Transportation of oversized equipment may require specialized trucks and additional logistics planning. When it comes to transportation logistics, it is important to consider the equipment dimensions, including the [Read more]