Metric to be directly tied to compensation for all employees DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today disclosed a goal to reduce methane intensity 33% by 2025. The objective, approved this week by its board of directors, will be tied to Ovintiv's annual incentive compensation program for all employees beginning in 2021. The significant reduction will be benchmarked against the Company's 2019 actual methane intensity of 0.15 metric tons CH4/thousand barrels of oil equivalent [Read more]
Headlines
Shell Canada announces retirement of President and Country Chair Michael Crothers and appointment of Susannah Pierce as successor
CALGARY, AB - Following a 33-year career with Shell, Shell Canada President and Country Chair Michael Crothers has announced he will retire from the company in 2021. Crothers will be succeeded by Susannah Pierce, currently Director of Corporate Affairs, LNG Canada, and a Shell secondee. Both will remain in their current roles until the transition takes place. "I am grateful to have had a long and rewarding career with a company that aligns with my values, working alongside exceptional people [Read more]
Column: From Bitcoin to Canada’s new Grantcoin – the earth-shaking, energy-sucking impact of The New Money
Cryptocurrency doesn’t seem to have all that much to do with hydrocarbons, so one might wonder why the topic is appearing here in the world’s finest oil and gas journal (they let me rant here, so BOE Report earns the title for bravery alone). Here’s why. Far beyond the headlines about Bitcoin’s ascendancy are strong links to the energy world that are worthy of scrutiny. The “____coin” revolution has hardly begun, and it’s already a bull in the energy china shop. Bitcoin is the poster child [Read more]
XI Technologies: Finding opportunity in Alberta’s Inactive Well List
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. At the end of November, we profiled Alberta’s Inactive Well List, looking at a six-month snapshot of activity in the list. Tracking the list can be a helpful indicator of the health of the industry, help drive liability [Read more]
AltaGas announces closing of increased interest in Petrogas; continues to advance global export strategy
AltaGas closes strategic acquisition of increased ownership in Petrogas; remains focused on providing access to premium global LPG markets and reducing Asian carbon intensity while growing earnings per share and creating earnings durability for shareholders. CALGARY, AB - AltaGas Ltd. ("AltaGas or the Company") (TSX: ALA) is pleased to announce that it has closed the previously announced acquisition of an additional 37 percent equity interest in Petrogas Energy Corp. ("Petrogas") for total [Read more]
Oil prices ease on surprise build in U.S. inventory, demand worries
Oil prices dropped on Wednesday on a surprise gain in crude oil inventories in the United States and as investors continued to worry about demand for fuel being squeezed amid tighter lockdowns in Europe to counter the coronavirus pandemic. U.S. West Texas Intermediate (WTI) crude futures fell 22 cents, or 0.46%, to $47.36 a barrel. Brent crude futures fell 20 cents, or 0.39%, to $50.50 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 22 cents, or 0.46%, to $47.36 a [Read more]
Perpetual Energy Inc. announces arrangement involving its senior unsecured notes
CALGARY, AB – Perpetual Energy Inc. ("Perpetual" or the "Company") announced today that, in furtherance of its strategic priority of improving the Company's balance sheet and liquidity, it proposes to exchange its outstanding 8.75% senior unsecured notes due January 23, 2022 (the "Notes") for new 8.75% secured third-lien notes due January 23, 2025 (the "New Notes") pursuant to a Court-approved plan of arrangement (the "Note Exchange Arrangement"). The New Notes will be issued under a new [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 Dec. 14 EIC Measurement Technician TC Energy Manning Dec. 14 MAOP & Projects Lead Engineer TC Energy Calgary Dec. 14 EIC Measurement Technician TC [Read more]
Pipestone Energy Corp. announces graduation to the Toronto Stock Exchange
CALGARY, Alberta - (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to announce that its common shares and warrants have been approved for listing on the Toronto Stock Exchange (“TSX”) and will commence trading on the TSX at the opening of the market on December 16, 2020. Concurrent with the up-listing to the TSX, the common shares and warrants of Pipestone will be de-listed from the TSX Venture Exchange. Pipestone’s ticker symbol for the common shares and warrants [Read more]
Husky shareholders back friendly takeover by Cenovus for $3.8 billion in shares
CALGARY - Husky Energy Inc. shareholders have approved a $3.8-billion all-share takeover bid by rival Cenovus Energy Inc., hours before Cenovus shareholders are widely expected to do the same. The endorsement by Husky investors was resounding, with more than 95% of votes cast in favour of the acquisition. Frank Sixt, a director of Husky Energy, told a special shareholder meeting today he's confident the new company will be more competitive, profitable, and sustainable. The acquisition [Read more]