CALGARY, AB - PetroFrontier Corp. ("PetroFrontier" or the "Corporation") (TSXV:PFC) is pleased to announce the following: Private Placement PetroFrontier has completed a non-brokered private placement for aggregate gross proceeds of $408,000 (the "Private Placement") whereby the Company issued an aggregate of 10,200,000 common shares ("Common Shares") from its treasury at a price of $0.04 per Common Share. Based on the gross proceeds of the Private Placement, the use of proceeds will be as [Read more]
Headlines
Heavy discount narrows on tight inventories, steady demand
Canadian heavy crude's discount versus West Texas Intermediate (WTI) narrowed on Wednesday, with inventories low and demand steady. Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, traded at $9.75 per barrel below WTI, according to NE2 Canada Inc. It settled on Tuesday at $9.90 under. Producers have been restoring curtailed production, but maintenance has limited returning supplies, while demand for Canadian heavy oil has picked up due to declines [Read more]
Canada to impose binding plastic standards for products and packaging
Canada intends to impose binding standards for how much recyclable plastic content there has to be in products and packaging and wants new rules in place within 24 months, a top official said on Wednesday. Environment Minister Jonathan Wilkinson said Canadians threw away around 3 million tonnes of plastic every year, of which only 9% was recycled. “The problem is getting worse,” he told a news conference. Ottawa has a target of zero plastic waste by 2030. “To ensure we keep much more of our [Read more]
Storm-weary offshore energy firms prep for massive hurricane
Oil and gas workers withdrew en masse from offshore production facilities as Hurricane Delta grew into a powerful storm over the Caribbean on its way to the Gulf of Mexico. Delta's winds reached 145 miles per hour (235 kph) as the storm sped toward Mexico's Yucatan peninsula and eventual entry into the Gulf of Mexico, whose warm waters will restore it to a Category 4 storm, the National Hurricane Center said. Oil producers had evacuated 57 production facilities in the U.S. Gulf of Mexico [Read more]
Hey Alberta: What do we want to be known for – the low road, or the high road?
Dress your best on your execution day… try to leave a good impression on the death squad by standing erect and proud…Be extremely courteous to your assistant when you lose money. Try not to blame others for your fate, even if they deserve blame. Never exhibit any self-pity. Nassim Nicholas Taleb In reporting on the energy scene, it is wearyingly necessary to monitor the news flow to see if there is anything notable or comment-worthy happening. It’s not easy, because news is no longer [Read more]
Hillcrest signs chief technology consultant
October 7, 2020 - TheNewswire - Vancouver, B.C. - Hillcrest Petroleum Ltd. (TSXV:HRH) (OTC:HLRTF) (the "Company") is pleased to announce that it has expanded its executive team and engaged Ari Berger as Chief Technology Advisor. Mr. Berger is an expert in electric motor control technologies with specific expertise in system engineering. Mr. Berger's latest position was as the Chief Technology Officer at Exro Technologies Inc, a TSX.V listed electromotive technology company. He is the owner of [Read more]
XI Technologies: Open Asset Evaluation for October 2020
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. Succeeding in oil and gas M&A comes down to how quickly and how effectively you can analyze potential opportunities. Once a month, XI Technologies will apply its evaluation tools to a currently available asset to give readers a [Read more]
Sole survivor? Saudi Arabia doubles down on oil to outlast rivals
The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But Saudi Aramco plans to boost its production capacity so it can pump as much of the kingdom's vast oil reserves when demand picks up - before a shift to cleaner energy makes crude all but worthless, industry sources and analysts told Reuters. With almost 20% of the world's proven [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. 6 Junior Field Operator pigging role Roska DBO Fort St. John Oct. 6 Senior Pipeline Integrity / Damage Prevention Engineer or Technologist TC [Read more]
Heavy discount widens slightly, remains in narrow range
Canadian heavy crude's discount versus West Texas Intermediate (WTI) widened slightly on Tuesday but remained in a narrow range, as stockpiles remained low. Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, traded at $9.70 per barrel below WTI, according to NE2 Canada Inc. It settled on Monday at $9.65 under. Demand for Canadian heavy barrels is holding up relatively well, while inventories are flat, said Martin King, senior analyst at RBN Energy. He [Read more]