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 Canadian oil and gas industry focus on abandonment, remediation and reclamation work has created a competitive environment for service and supply companies in this space. With the focus of federal funding allotments to the [Read more]
Headlines
Leucrotta Announces Q1 2020 Financial and Operating Results
Calgary, Alberta - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months ended March 31, 2020. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Drilled, completed and tied-in a second Montney well at Two Rivers. Completed construction of the Two Rivers facility and commenced production of the two Montney wells. Subsequent to March 31, 2020, disposed of [Read more]
Hemisphere Energy Announces Financial and Operating Results for Q1 2020
Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three months ended March 31, 2020. Q1 2020 Highlights Achieved revenue of $5.0 million. Realized an operating netback of $3.5 million. Attained quarterly adjusted funds flow from operations of $2.2 million. Increased quarterly production by 43% to 1,973 boe/d (99% heavy crude oil and 1% conventional natural gas), as [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 May. 26 Service Administrator Vertex Calmar May. 26 Regulatory and Environmental Specialist Brunel Calgary May. 26 Project Manager - Grain [Read more]
Keyera Corp. announces $400 million public note offering
CALGARY - Keyera Corp. ("Keyera") announced today that it has agreed to issue $400 million of senior unsecured medium term notes (the "Offering"). The Offering will be conducted in a single tranche consisting of $400 million senior unsecured medium term notes having a fixed coupon of 3.959% per annum, paid semi-annually, and maturing on May 29, 2030 (the "Notes"). The Offering is expected to close on May 29, 2020 and the net proceeds will be used to refinance short term indebtedness under [Read more]
Alberta legislature to resume with COVID work, other bills, sitting into July
EDMONTON - Alberta politicians are going back to the legislature this week with a plan to sit until late July and pass 10 bills, while physical distancing and dealing with COVID-19. Government house leader Jason Nixon said Premier Jason Kenney and his United Conservative cabinet ministers are to deliver an update on the pandemic in the house Wednesday and take Opposition questions on the government's handling of the crisis. Later this week, the government is to introduce bills that would [Read more]
Pembina Pipeline Corporation announces $500 million public note offering
CALGARY - Pembina Pipeline Corporation ("Pembina") announced today that it has agreed to issue $500 million of senior unsecured medium-term notes (the "Offering"). The Offering will be conducted in two tranches consisting of $400 million in senior unsecured medium-term notes, series 16 (the "Series 16 Notes") having a fixed coupon of 4.67 percent per annum, paid semi-annually, and maturing on May 28, 2050; and $100 million principal amount to be issued through a re-opening of the Company's 3.71 [Read more]
N.L. warns of exodus of oil and gas industry without more federal help
ST. JOHN'S, N.L. - Newfoundland and Labrador's government is looking for a rapid answer from Ottawa on its request for aid for the offshore oil sector in light of a quickening exodus of exploration rigs from the province. Premier Dwight Ball, Natural Resouces Minister Siobhan Coady and industry leaders held a news conference Tuesday to repeat earlier warnings that hydrocarbon projects could be permanently lost to the province without a commitment from Ottawa. Ball and Coady repeatedly [Read more]
Higher prices encourage Canadian producers to boost oil production
CALGARY - Western Canadian producers are moving to restore some oil production as crude prices rise with demand thanks to the gradual opening of the world economy and OPEC and Russian output cuts. But analysts say oil companies hit hard by low oil prices so far this year are being cautious and will choke back oil output again if higher prices prove unstable. Analyst Phil Skolnick of Eight Capital says he's seeing anecdotal evidence that some of the 875,000 barrels a day of curtailed [Read more]
B.C. swamped with funding applications to restore oil and gas wells: minister
VICTORIA - More than 1,100 applications deluged a British Columbia program creating a funding plan to restore dormant and inactive oil and gas wells, within hours of the program's launch. Energy Minister Bruce Ralston says Monday's requests equal up to $152 million in reclamation work and if completed would potentially support up to 1,200 jobs and reclaim over 2,400 inactive wells. The federal government announced in April that B.C. would receive $120 million to clean up inactive oil and [Read more]