CALGARY, AB - Clearview Resources Ltd. ("Clearview" or the "Company") is pleased to provide the following corporate update to its shareholders. CREDIT FACILITY REVIEW The Company's credit facility was set for its normal course review to be completed by June 30, 2020. The Company's lender, ATB Financial ("ATB"), informed Clearview that the completion of the review will be extended to a later time period as lenders to the oil and gas industry deal with the impact of COVID-19 and the [Read more]
Headlines
Oil rises as robust China trade data offsets returning supply
Oil prices rebounded on Wednesday, supported by robust economic data from China that offset returning supply in other regions but gains were capped by forecasts for a slow recovery in global oil demand as coronavirus cases rise U.S. West Texas Intermediate (WTI) crude futures settled up 80 cents, or about 2%, to $40.96 a barrel. Brent crude futures ended up 78 cents, or 1.8%, to $43.20 a barrel while On Monday, both benchmarks fell nearly 3%. China, the world’s top crude oil importer, took [Read more]
XI Technologies: Why a proper balance of drill planning information sources is essential for successful drilling programs
Each week, XI Technologies scans their 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. Our current oil and gas development environment has led many companies to adapt to new market needs and challenges by exploring new drilling opportunities in unfamiliar plays. In addition, consolidation and acquisition has resulted [Read more]
Reduce your carbon footprint with Hyper Vent, a new vent gas capture system
24/7 Compression Ltd is pleased to introduce Hyper Vent, a vent gas capture system designed to recover gas volumes released from compressor packing seal vents, pneumatic instrumentation, control devices and other sources. The system incorporates a gas over gas double-choke ejector; high pressure motive gas passes through the ejector creating a suction port where zero pressure vented gas volumes are drawn in, combined, and discharged at a medium pressure for non-emitting use. Gas can be recovered [Read more]
Obsidian Energy encourages Bonterra shareholders to create the Cardium champion
Bonterra shareholders will benefit from being part of a stronger, more efficient Cardium Champion The combined entity has many positive attributes that lead to a clear path to significant share price appreciation Bonterra has no standalone plan to create shareholder value; only to add more leverage and hope for better commodity prices which is clearly inferior to our Offer Bonterra's Board is conflicted and not working in the best interest of its shareholders Obsidian Energy is encouraged [Read more]
Journey Energy Inc. provides banking update
CALGARY, AB - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") announces a further extension to the forbearance agreement with its banking syndicate. Journey reports that it has reached an agreement with its syndicate of lenders to extend the current forbearance period until October 30, 2020 to enable the Company and its lending syndicate to continue discussions regarding the repayment of outstanding bank borrowings. The company will issue another update on or [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 Oct. 8 Maintenance Planner / Scheduler AltaGas Didsbury Oct. 8 Remote Gas Field Operator Roska DBO Fort Nelson Oct. 8 Civil [Read more]
Heavy discount narrows slightly on improving demand, low stocks
Canadian heavy crude's discount versus West Texas Intermediate (WTI) narrowed slightly on Tuesday, with demand improving and inventories low. Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, traded at $9.35 per barrel below WTI, according to NE2 Canada Inc. It settled on Friday at $9.40 under. Even so, investment bank Raymond James estimates a net WCS price for the fourth quarter of C$34.55 per barrel, down 2% from its previous estimate, and a [Read more]
Alberta oil output 16% below pre-COVID levels -minister
Oil production in Canada's Alberta province is 16% below its pre-coronavirus crisis levels, Alberta's Energy Minister Sonya Savage told the Energy Intelligence Forum on Tuesday. Alberta's oil output dropped by as much as 880,000 barrels per day, or 22%, at the peak of the production cuts in response to an unprecedented drop in global fuel consumption due to the epidemic, Savage said. The province however has no plans to join an alliance of OPEC and other major oil producers to limit global [Read more]
U.S. energy companies begin restoring oil and gas output after storm exits
U.S. energy companies were returning workers and restarting operations at storm-swept production facilities along the U.S. Gulf Coast on Sunday, two days after Hurricane Delta barreled through the area. Chevron Corp , Royal Dutch Shell Plc and BHP Group were returning workers to production platforms in the U.S.-regulated northern Gulf of Mexico, the companies said. BHP expects to complete the return of workers to its Shenzi and Neptune production platforms on Sunday, spokeswoman Judy Dane [Read more]