On October 29, 2020 BDO Canada Limited was appointed as the receiver and manager (the “Receiver”) of Bow River Energy Ltd. (“Bow River” or the “Company”) pursuant to an Order of the Court of Queen’s Bench of Alberta. The Receiver has engaged Sayer Energy Advisors to assist with a sale of all of Bow River’s oil and natural gas properties located in Alberta (the “Properties”). Bow River’s oil and natural gas interests are located in the Provost area of Alberta, specifically the Fleeing Horse, [Read more]
Headlines
Oil hits 11-month high after Saudi Arabia pledges voluntary output cut
Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected in a meeting with allied producers, while industry figures showed U.S. crude stockpiles were down last week. U.S. West Texas Intermediate (WTI) futures reached $50.24 a barrel, also the highest since Feb. 26, before slipping to $50. The contract on Tuesday closed up 4.6%. Brent crude rose as much as nearly 1% to $54.09 a barrel, the highest since Feb. 26, 2020. [Read more]
Column: 2021 will be hard. Leave it all out there
“The test is always [the song] ‘Terrible Lie’. It's two chords: C, D...and you'd see these guys and they'd be playing C, D and I'd stop them and say, 'It's not, C, D. It's, '[expletive] you'. I want your hand to bleed. I don't care if you hit the right notes.” Trent Reznor, Nine Inch Nails frontman, on hiring new guitar players I get it, not all of you like Nine Inch Nails. The gaping holes in your entertainment spectrum are not my concern. And you might think, well, I have no idea what [Read more]
Spartan Delta Corp. provides operational and corporate update and revises 2021 guidance
CALGARY, AB - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV: SDE) is pleased to provide an operational and corporate update with revised guidance for 2021. Highlights: Early results of Spartan's drilling program are positive with fourth-quarter production exceeding guidance. Executing on consolidation strategy, including three small but strategic acquisitions in Spartan's focus development areas. Continued operational and financial performance results in upward revision [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 Jan. 4 Business Intelligence Specialist Strike Group Calgary Jan. 4 Class 3 Truck Drivers Roska DBO Dawson Creek Jan. 4 Class 1 Truck Drivers Roska [Read more]
Heavy crude at widest discount since April
Canadian heavy crude's discount versus West Texas Intermediate (WTI) widened on Tuesday. Western Canada Select (WCS) heavy blend crude for February delivery in Hardisty, Alberta, traded at $15.30 per barrel below WTI, according to NE2 Canada Inc, deepening from the previous day's settle of $15.05 a barrel under WTI. Tuesday's differential was the widest since April 2020. The Canadian crude market is digesting increased supply after production curtailments imposed by the Alberta [Read more]
Freehold Royalties Ltd. announces closing of U.S. royalty assets
CALGARY, Alberta - Freehold Royalties Ltd. (“Freehold”) (TSX:FRU) announces that it has closed its previously announced acquisition of diversified, high quality, U.S. royalty assets (the “Acquired Assets”) for US$58 million (the “U.S. Royalty Transaction”). The Acquired Assets will play a key role in strengthening the resiliency of Freehold’s portfolio, enhancing the near-term and long-term sustainability of Freehold’s dividend and providing option value to return capital to shareholders through [Read more]
Oil prices up on OPEC output cut talks, Iran tension
Oil prices rose by around $1 on Tuesday as tension simmered following Iran’s seizure of a South Korean vessel and as the OPEC+ group studied a possible production cut in February. U.S. West Texas Intermediate crude for February was at $49.46 a barrel, up $2.10 cents, or 4.51% Brent crude futures for March rose $2.03 to $52.78 a barrel, or 4%. Both contracts fell more than 1% on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, failed [Read more]
Now available: Argus Media 2021 Canada crude oil trading calendar
Download the 2021 Canada Crude Oil trading calendar to ensure you are prepared for 2021. Having access to this calendar puts the important crude oil trading dates in one place. Canada calendar dates include: Enbridge NOS due dates Canada physical trade window open dates Argus publishing holidays Argus is a leading energy and commodity price reporting agency that provides price assessments, analysis, bespoke consulting services and industry-leading conferences for the global [Read more]
ELM Inc. – Delivering a positive impact in a highly sensitive environmental area
ELM Inc. is pleased to announce the successful completion of a multi-dimensional field abandonment and decommissioning project in the Manyberries area of southeast Alberta for the Orphan Well Association (OWA). This project represents over a year of strategic planning and organization to develop and implement a plan that addressed the challenging environmental and conservation protocols placed on oil and gas activities in the Manyberries area. To complete this project required significant [Read more]