CALGARY, AB - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV: SDE) is pleased to announce its financial and operating results for the three and six month periods ended June 30, 2020. Selected financial and operational information is set out below and should be read in conjunction with Spartan's June 30, 2020 unaudited condensed consolidated interim financial statements and the related management's discussion and analysis ("MD&A") which are available on the Company's website at [Read more]
Headlines
Journey Energy Inc. provides banking update
CALGARY, AB, Aug. 19, 2020 /CNW/ - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") announces an extension to the forbearance agreement with its banking syndicate. Journey reports that it has reached an agreement with its syndicate of lenders to extend the current forbearance agreement until September 2, 2020. Journey and its lending syndicate continue to be in regarding its bank borrowings. This extension of the forbearance period will allow Journey additional time [Read more]
Canada Energy Regulator forecasts 6.6% drop in Canadian oil production this year
CALGARY - The Canada Energy Regulator says its expects oil production in Canada will average 4.38 million barrels per day this year, down by 6.6 per cent compared with 2019. The federal regulator says it expects oil production to gradually recover over the balance of 2020 after producers halted what analysts estimate was as much as one million bpd at times due to low prices during the COVID-19 pandemic economic slowdown. The average production in Canada in 2019 was 4.69 million bpd, up [Read more]
Oil prices skid as concerns over U.S. demand recovery seep through market
Oil prices slid on Wednesday as concerns grew that U.S. fuel demand may not recover quickly amid stalled talks on a post-coronavirus economic stimulus package, overshadowing a bigger-than-expected drawdown in U.S. crude stocks. U.S. West Texas Intermediate (WTI) crude futures was down 25 cents, or 0.6%, at $42.64 a barrel, having ended unchanged the previous day. With investors keeping one eye on a key producer countries' ministerial meeting later in the day, Brent crude futures fell 38 [Read more]
XI Technologies: 3 reasons why knowing working interest partners is essential to oil and gas asset 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. It’s no secret that understanding working interest partnerships is a key part of oil and gas operations. But while everyone understands the key role working interest plays in a company’s balance sheet, there are elements of asset [Read more]
PetroFrontier Corp. announces amended debenture extending agreement including partial debt repayment, private placement of common shares and option grant
CALGARY, AB - PetroFrontier Corp. ("PetroFrontier" or the "Corporation") (TSXV:PFC) announces that it intends to complete a private placement, the entering into of an amended debenture extending agreement including the immediate repayment of certain of the amounts outstanding under its secured debenture and the grant of options to key personnel. Amended Debenture Extending Agreement Further to the Corporation's July 13, 2020 press release providing details of the extension agreement (the [Read more]
ROK Resources increases production and provides operations and corporate updates
REGINA, SK - ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK) is pleased to announce its Glen Ewen operating results and the addition of production in Saskatchewan as well as providing a corporate overview and update. Commenting today, President and CEO Cam Taylor stated: "With the acquisition of the Glen Ewen Property and the addition of Jeff Chisholm and Kent McDougall to our board of directors, the Company is off to an exciting start and focused on making additional acquisitions. [Read more]
Oil holds gains made on high OPEC+ compliance
Oil prices were broadly steady on Tuesday, hanging on to gains from the previous session thanks to high compliance with production cuts from members of the OPEC+ producer group. U.S. crude edged down by 23 cents, or 0.4%, to $42.55 after a rise of 2.1% in the previous session. Brent crude eased by 9 cents, or 0.2%, to $45.28 a barrel by 1117 GMT, having gained 1.3% on Monday. A technical panel found that compliance with OPEC+ oil output cuts in July was between 95% and 97%, according to [Read more]
Column: The era of multi-decade infrastructure projects
You know the feeling you get when you’ve completed, say, a woodworking project, maybe making a deck chair or something, and it took forever, and screws and nails are embarrassingly sticking out in random directions, the legs are wobbly, right angles are scarce, and generally, the thing looks like it belongs in Picasso’s Guernica? Even with my “standards”, it takes forever to finish a project. And that's doing it at my leisure; imagine needing approval from all your friends and family for every [Read more]
Heavy discount narrows on higher demand
Canadian heavy crude's discount versus West Texas Intermediate (WTI) narrowed on Monday, the final day of the trading cycle. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $9.15 per barrel below WTI, according to NE2 Canada Inc. It settled Friday at $9.85 under. Canadian heavy oil prices are supported by big weekly inventory draws, as rebuilding demand grows faster than returning production, a trader said. Plunging Venezuelan production [Read more]