CALGARY - Canadian oil and gas producers are banking higher profits as unusually severe winter weather sidelines U.S. rivals this week and drives up demand and prices for their products. But analysts say that while the higher prices are providing a needed short-term boost for the struggling Canadian oilpatch, the gains will likely gradually fall away when warmer weather allows American producers to get back in the field to repair and restart their facilities. IHS Markit natural gas analyst [Read more]
Headlines
E3 Metals adds seasoned oil and gas executive to the board
CALGARY, AB - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium extraction technology innovator, is pleased to announce the appointment of Mr. Kevin Stashin as an Independent Director to its Board, effective today. Mr. Stashin is an oil and gas executive with over 40 years of industry experience with both junior and major companies, including Devon Canada Corporation, Anderson Exploration, and [Read more]
Spartan Delta Corp. upsizes previously announced financings
CALGARY, Alberta - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV:SDE) is pleased to announce that, as a result excess demand, it has increased the size of its previously announced non-brokered private placement (the "Private Placement") and has agreed with the syndicate of underwriters led by National Bank Financial Inc. to increase the size of its previously announced bought-deal financing (the "Prospectus Offering"). Spartan will now issue: (i) 10,000,000 common shares (the "Common [Read more]
Oil steady amid Texas supply disruptions, potential OPEC+ moves
Bullish oil prices marked time on Wednesday, as support from supply disruptions in the U.S. south caused by an Arctic blast was offset by expectations that OPEC+ producers may ease their output curbs after April. U.S. West Texas Intermediate (WTI) crude futures dipped 28 cents, or 0.47% to $59.84 a barrel, retreating from a 13-month high of $60.95 hit on Tuesday. Brent crude dropped 2 cents, or 0.3%, to $63.42 a barrel. Oil prices have run up strongly in recent months and supply [Read more]
Column: Natural gas hits an unprecedented $600/mmbtu, Bitcoin rise captures the news, and the media’s Soviet-style dog collar becomes clearly visible
I’ve often wondered what it must have been like to live under Soviet rule. The horrors are well documented - the food shortages, the suffocating bureaucracy, the razor-sharp surveillance, all stewed in a broth of fearful grey. One aspect in particular that I could never imagine was a life governed by reality-defying propaganda. “At the instigation of the masses, the Motherland has proclaimed a Godless Five-Year Plan!” “Exterminate all homosexuals and fascism will vanish!” (this one even [Read more]
Line 5 creating cross-border tensions
When U.S. President Joe Biden nixed Keystone XL, it was a seismic moment for both Canada and the U.S., not only because of the pipeline itself, but how would affairs be moving forward between the two countries, how would the political climate be affected, and what is to become of other projects, namely Enbridge Line 5? A great deal of attention has shifted to Line 5. Tensions are high, and many people are concerned about job loss, notably workers in Ontario, threatening nearly 5,000 jobs, [Read more]
XI Technologies: Merger Overview – NAL and Whitecap Resources
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. With major mergers dominating the headlines of the oil and gas industry, we thought it would be helpful to take the data at our disposal and use it to look at a recent merger. We’ll look at each company from a high-level perspective [Read more]
U.S. shale could face weeks of depressed oil production due to cold
The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to industry experts, as companies deal with frozen equipment and a lack of power to run operations. Texas produces more oil and natural gas than any other U.S. state, and its operators, unlike those in North Dakota or Alaska, are not accustomed to dealing with frigid temperatures. Numerous refineries in Texas have also been shut, though weather events rarely knock substantial amounts of [Read more]
Journey Energy Inc. announces revised closing date for Countess asset sale
CALGARY, AB - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") reports that it has today agreed to a further extension to the closing date for the previously announced disposition (see press release dated October 30, 2020) of its Countess area assets. In conjunction with this extension, Journey has also executed an amendment to its credit agreement with Alberta Investment Management Corporation to extend the maturity date of the $15 million tranche of term debt, to [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 Feb. 16 Oil & Gas Operational Accounting Edge Liability Risk Management Regina/Calgary Feb. 16 Permitting Manager Brunel Vancouver Feb. 15 Environmental [Read more]