CALGARY, Alberta - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its financial and operational results for the three months ended March 31, 2020 and the confirmation of the borrowing base limit under its credit facilities at $1.0 billion. “Our industry is facing unprecedented challenges as a result of the impacts from the global COVID-19 pandemic which has resulted in a significant reduction in worldwide oil demand. We believe that Birchcliff’s [Read more]
Headlines
Canada’s oil producers need climate targets to draw investment, Trudeau says
Canada's oil producers need to set clear targets to fight climate change to continue to attract global capital, Canadian Prime Minister Justin Trudeau said on Wednesday, as the country's carbon-intensive oil sands industry faces heightened environmental scrutiny from investors. The comments come as Japan's biggest bank by assets said it would restrict transactions involving oil sands, while Norway's $1 trillion wealth fund blacklisted four of the industry's biggest companies. "We've seen [Read more]
Oil rises on second wave outbreak fears, rise in U.S. inventories
Oil prices rose on Wednesday on worries about a possible second wave of coronavirus cases in countries starting to ease lockdowns, while industry data showed a rise in U.S. crude inventories. The concerns overshadowed a further call by Saudi Arabia for larger production cuts to balance the market following a virus-induced demand slump, after OPEC's biggest producer said earlier this week it planned to add to cut output again. U.S. crude was up 28 cents, or 1.5%, at $26.07 a barrel, after [Read more]
Column: Useful idiots? May and Blanchet may be handy tools, but they then forfeit any claim to the environmentalist designation
You know, this self-isolation thing isn’t all bad. How many of you can handle boring dinner parties or the like? For those of us that would rather spend an evening unclogging toilets, we devise coping mechanisms. I cowardly avoid them. Larry David, famously prickly star of Curb Your Enthusiasm/Seinfeld fame, simply stands up as soon as he’s finished eating, and leaves. A friend of mine has a different tactic. He accepts the invitations, joins the conversations, and as soon as his interest [Read more]
XI Technologies: How to use drilling data when you can’t drill
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. The combined challenges of social distancing and reduced demand for oil and gas have resulted in a drastic reduction in rig counts throughout the WCSB. As a drilling data provider, this leads us to the obvious question: what role does [Read more]
Paramount Resources Ltd. reports first quarter 2020 results
CALGARY - HIGHLIGHTS Sales volumes averaged 70,022 Boe/d (38 percent liquids) in the first quarter of 2020.(1) Production in the first quarter of 2020 was impacted by three separate outages (two unscheduled, one scheduled) at a third-party processing facility in the Wapiti area. This amounted to approximately one full month of downtime or the equivalent of approximately 4,300 Boe/d of high netback production for the quarter. Severe cold weather in January also [Read more]
When you can’t visit your project site: remote sensing and visualization technology is making virtual access a reality
To slow the spread of COVID-19, we have all had to make adjustments to how we work. For many of us that means restrictions on travel and working from home. For those supporting projects in the field, site visits are often out of the question. Many project teams have managed to stay connected by adapting to collaborative online tools like Skype and Zoom, but maintaining access to data and information on a distant project site so that essential work can continue presents a different [Read more]
Pipestone Energy Corp. reports first quarter 2020 results and provides an operations update
CALGARY, Alberta - (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report its Q1 2020 financial and operational results, and an update to our business plan in response to the dramatic drop in commodity prices related to the worldwide COVID-19 crisis which resulted in an unprecedented short term collapse in oil demand. This will also include an operations update with encouraging initial production results from the 6-24 pad; 2020 production management [Read more]
World’s largest wealth fund blacklists four Canadian firms for emissions
Norway's $1 trillion sovereign fund said on Wednesday it had excluded four Canadian oil and gas companies from its portfolio for producing excessive greenhouse gas emissions, its first use of that reason to blacklist firms. Canadian Natural Resources Ltd , Cenovus Energy Inc , Suncor Energy Inc , and Imperial Oil Ltd were excluded due to "unacceptable greenhouse gas emissions", Norges Bank Investment Management (NBIM) said. The firms did not respond to requests for comment after market [Read more]
Transglobe Energy Corporation announces first quarter 2020 financial and operating results for the three months ended March 31, 2020
This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. AIM & TSX: “TGL” & NASDAQ: “TGA” CALGARY, Alberta - TransGlobe Energy Corporation (“TransGlobe” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2020. All dollar values are expressed [Read more]