CALGARY, AB - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce a guidance update, the approved budget for 2022 and details on its free cash flow ("FCF")(1) allocation strategy, including the declaration of a special cash dividend and an increase in its regular quarterly cash dividend. 2H 2021/2022 EP CAPITAL BUDGET The recently approved 2022 EP capital budget of $1.125 billion is expected to deliver average production of 500,000-510,000 boepd, $3.7 [Read more]
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Petrus closes $10 million private placement and full settlement of second lien loan
CALGARY, Alberta - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) is pleased to announce that it has completed the previously announced transactions (the “Transactions”) that will significantly reduce the Company's total debt and also extend the maturity date of the Company’s senior secured credit facility (the "First Lien Loan"). Pursuant to the Transactions, the Company’s subordinated secured term loan (the "Second Lien Loan"), in the principal amount of approximately $39.3 [Read more]
Kiwetinohk Resources completes strategic combination with Distinction Energy to form Kiwetinohk Energy
CALGARY, Alberta - Kiwetinohk Energy Corp. ("Kiwetinohk" or the “Corporation”) is pleased to announce that it has emerged, as prescribed, from the closure of the business combination of Kiwetinohk Resources Corp. ("KRC") and Distinction Energy Corp. ("Distinction") (the "Business Combination"). The Business Combination creates a larger, more efficient and diversified integrated energy company that is positioned to compete in the transition of energy sources with lower associated emissions of [Read more]
Altura Energy Inc. announces closing of previously announced brokered private placement
CALGARY, AB - Altura Energy Inc. ("Altura" or the "Company") (TSXV: ATU) is pleased to announce the closing of its previously announced brokered private placement of an aggregate of 136,112,000 subscription receipts of the Company ("Subscription Receipts") at a price of $0.18 per Subscription Receipt for gross proceeds of $24.5 million (the "Brokered Private Placement"). The Brokered Private Placement was led by National Bank Financial Inc. ("NBF"), along with a syndicate of agents, including [Read more]
Advocacy group Iron & Earth wants victorious Trudeau to keep retraining pledge
Prime Minister Justin Trudeau's narrow election victory this week reinforced Canada's commitment to reach net-zero greenhouse gas emissions by 2050, but workers in the country's sizable fossil fuel sector said they also expect him to keep his promises to retrain them for jobs in a clean-energy economy. Oil worker advocacy group Iron & Earth estimates Canada will need around C$10 billion ($7.8 billion) over 10 years to retrain fossil fuel workers, but is skeptical about government promises [Read more]
FNMPC and Miawpukek First Nation will work together to increase equity participation in LNG Newfoundland & Labrador project
ST. JOHN’S, Newfoundland - The First Nations Major Projects Coalition (FNMPC) and Miawpukek First Nation (MFN) are proud to announce plans to work together towards increased equity participation in the LNG Newfoundland & Labrador Limited project (LNG NL), representing the first ever First Nations equity participation in an offshore energy project in Newfoundland and Labrador. Additionally, the equity participation agreement provides valuable contracts and exciting long term jobs for the [Read more]
Oil rises over 1% after report of big draw in U.S. crude stocks
Oil prices climbed more than 1% on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. U.S. West Texas Intermediate (WTI) crude futures rose 84 cents, or 1.19%, to $71.69 a barrel, adding to a 35 cent gain from Tuesday. Brent crude futures climbed $1.02, or 1.37%, to $75.70 a barrel, after gaining 44 cents on Tuesday. After coming under pressure on [Read more]
XI Technologies: four common issues in ARO Management
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. As the importance of liability management has grown, the need for data on Asset Retirement Obligations (ARO) has spread throughout oil and gas operations. What once was mostly the focus of abandonment and reclamation teams now touches [Read more]
Freehold Royalties Ltd. announces closing of equity financing
CALGARY, Alberta - Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that it has completed its previously announced bought deal equity financing, issuing 19,067,000 subscription receipts (Subscription Receipts) at a price of $9.05 per Subscription Receipt for gross proceeds of approximately $173 million, which included the full exercise of the over-allotment option granted to the underwriters. The bought deal offering was completed through a syndicate of underwriters led by RBC Capital [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Sep. 21 2nd Power Engineer / Class Plant Operator Roska DBO Edson Sep. 20 Oil & Gas - Camp Cook Roska DBO Fort Nelson Sep. 20 Oil & Gas - Camp [Read more]