There are 10 new properties are available on PNG Exchange: Aldon Oils Ltd. Properties: Weir Hill/Steelman – Midale/Frobisher Bryant – Midale/Frobisher Bemersyde – Bakken/Red River Midale – Midale Frobisher Weyburn – Midale Anegada Oil Corp. Properties: Valhalla – Montney Peace River Arch/ Worsley Canlin Energy Corporation Property: Saskatchewan Fee Title Auction April 30th Crew Energy Inc. Properties: Golden Lake SK – Heavy Oil Wildmere AB – Heavy Oil About PNG Exchange PNG [Read more]
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Pembina Pipeline Corporation files 2020 year-end disclosure documents
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL) (NYSE: PBA) has filed its audited consolidated financial statements for the year ended December 31, 2020 as well as the related management's discussion and analysis, with Canadian securities regulatory authorities. Pembina has also filed its Form 40-F for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission. Investors and other stakeholders can obtain these documents via www.sedar.com, [Read more]
Canada’s weekly rig count drops 8 to 177
Canada averaged 177 active drilling rigs this week according to data from the Canadian Association of Oilwell Drilling Contractors. Of those rigs, 103 are drilling for oil, 70 are drilling for natural gas, 2 for other (helium, hydrogen, geothermal, or potash), and 2 are moving. Drilling activity by province is 116 in Alberta, 36 in Saskatchewan, 8 in British Columbia, 2 in Manitoba, and 15 in other. Precision Drilling holds the majority of the Canadian market share with 30 per cent, Ensign [Read more]
PSAC statement on Alberta Budget 2021
CALGARY, AB – The Petroleum Services Association of Canada (PSAC) is pleased that the Government of Alberta is focused on measures to address the healthcare challenges of the ongoing pandemic and its impacts on the economy. The budget is also focused on ensuring that Alberta has a competitive advantage for business, capital investment, and jobs to aid in economic recovery and growth. Elizabeth Aquin, Interim President and CEO of PSAC says, "It is reassuring to hear that the Alberta government [Read more]
U.S. drillers add rigs for 7th month in a row, pace slows
U.S. energy firms this week added oil and natural gas rigs for a seventh month in a row, but the rate of growth slowed in February even as oil prices rose to their highest since 2019. The oil and gas rig count, an early indicator of future output, rose five to 402 in the week to Feb. 26, its highest since May, energy services firm Baker Hughes Co said in its closely followed report on Friday. The total oil and gas rigs rose for a seventh month in a row for the first time since May [Read more]
Crude-by-rail exports are rebounding after a drastic drop in 2020 due to COVID and other factors
CALGARY - Canadian Crude by rail exports fell by nearly 40 per cent in 2020, averaging 172,013 barrels per day (b/d), compared to 280,272 b/d in 2019, according to the Canada Energy Regulator (CER). While the OPEC+ price war played a role in the initial drop of oil production in 2020, the COVID-19 pandemic caused lower oil demand and a continued drop in crude oil production in Western Canada leading to excess pipeline capacity and lower volumes of crude oil being shipped via rail for much [Read more]
TC Energy and TC PipeLines, LP announce unitholder approval and effective date of merger
CALGARY, Alberta - News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and TC PipeLines, LP (NYSE:TCP) (TCP) announced that at the special meeting of TCP common unitholders held earlier today, TCP unitholders voted to approve the previously announced merger of TCP and a wholly owned subsidiary of TC Energy pursuant to the Agreement and Plan of Merger dated December 14, 2020 (the “Merger Agreement”) between TCP, TC Energy and certain other related parties thereto. Approximately [Read more]
Oil prices drop amid U.S. dollar strength, expectations for supply gains
Oil prices dropped on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to return to the market. U.S. West Texas Intermediate (WTI) crude futures dropped 74 cents, or 1.20%, to $62.71 a barrel. Brent crude futures for April, which expires on Friday, fell $1.52 cents, or 2.30%, to $65.50 a barrel. "Crude oil retreated modestly from recent highs amid a 'risk off' sentiment as [Read more]
BRITT Land & Engagement rebrands to BRITT RADIUS: elevating BRITT’s legacy
Just in time for our 35-year anniversary, we are excited to announce our newest project: our own rebrand and company elevation! Although we have become well known in industry as BRITT Land & Engagement, we look forward to our future as BRITT RADIUS! In 1986 Ray Ramsay established “Britt Resources Ltd.” during a difficult recession. Grit, determination and an unwavering pursuit to reimagine what is possible, has gotten us to where we are today. What is now BRITT RADIUS, has evolved from [Read more]
Texas deep freeze shows need for natural gas
As Texas begins its thaw from its historic winter storm, it has unearthed there is still a massive and growing need for natural gas services and products to keep people warm. Winter storms walloped the state, first hit by the snow, then blackouts, then loss of power, water, burst pipes, forcing the state to hunker down and find heat anywhere they could, some even as going as far as Mexico. Millions of Texans are still without power and heat while trying to deal with COVID-19, culminating [Read more]