CALGARY - Pulse Oil Corp. (TSX-V:PUL) (the "Company" or "Pulse") is pleased to announce that it intends to complete a brokered private placement (the "Private Placement"), whereby the Company and a wholly owned subsidiary of the Company, Pulse Oil Operating Corp ("OpCo") will issue an aggregate number of units (the "Private Placement Units") comprised of securities issued by the Company and OpCo for gross proceeds of up to $30,900,000. Each Private Placement Unit will be priced at $25.75 and [Read more]
Headlines
RCMP investigating burned truck, theft of fuel at Trans Mountain work site
MERRITT, B.C. - The RCMP says it's investigating a suspicious blaze and alleged vandalism at a Trans Mountain pipeline work site near Merritt, B.C. Mounties say in a news release that a piece of heavy equipment on the pipeline expansion project was the target of vandalism and theft one day, and the fire on another. They received a report in the early hours of Tuesday morning after crews discovered a rope truck at the site had burned, resulting in a total loss of the vehicle. RCMP say [Read more]
TC Energy invests in alberta pumped hydro energy storage project
CALGARY - WindRiver Power Corporation is pleased to announce that TC Energy Corporation has closed an equity investment in Turning Point Generation ("TPG"), a WindRiver subsidiary. TPG is the developer and 100 per cent owner of the Canyon Creek Project, a planned pumped hydro energy storage facility to be located near Hinton, Alberta. "We are excited to be joined by TC Energy in advancing the Canyon Creek Project to its commencement of construction, which we anticipate by year's end", said [Read more]
Oil rises on signs of firmer demand, fall in U.S. crude stocks
Oil prices rose on Wednesday amid signs of improving demand and a drawdown in U.S. crude inventories but worries over the economic fallout from the coronavirus pandemic capped gains. U.S. West Texas Intermediate (WTI) crude futures for July were up $1.45, or 4.38%, at $33.23 a barrel. The July contract closed on Tuesday at $31.96, up 1%. Brent crude futures for July delivery were up $1.51, or 4.34%, at $36.06 per barrel. The June contract expired on Tuesday at $32.50 a barrel, up [Read more]
How automated well abandonment programing can help define end of life work for the Alberta site rehabilitation program
With the recent announcement of the Alberta Site Rehabilitation Incentive Program, funded as part of the federal government’s COVID-19 Economic Response Plan for oil field services contractors, there is a new focus on defining end of life work. Resource Energy Solutions, offers an automated well abandonment programming solution called Total Operations, Risk & Control (TORC) that generates a draft program outline and it creates relevant tasks and workflow processes. TORC increases [Read more]
XI Technologies: Why now is the right time to tackle ARO
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 XI Technologies, we may be a little biased when it comes to the importance of staying on top of your Asset Retirement Obligations (ARO) and thus think it’s always a good time to tackle your liabilities. However, there are specific [Read more]
Journey Energy Inc. reports first quarter 2020 results
CALGARY - Journey Energy Inc. (JOY – TSX; JRNGF - OTCQX) ("Journey" or the "Company") announces its financial results for the first quarter of 2020. The complete set of financial statements and management discussion and analysis for the periods ended March 31, 2020 and 2019 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. Highlights for the first quarter are as follows: Achieved production of 9,325 boe/d in the first quarter. Liquids (oil and natural gas [Read more]
Keyera announces appointment of new chief financial officer
CALGARY - Keyera Corp. (TSX: KEY) ("Keyera") today announced the appointment of Ms. Eileen Marikar as Senior Vice President and Chief Financial Officer ("CFO"), effective May 20, 2020. Mr. Steven Kroeker, who has served as Keyera's CFO since 2012 is stepping down from the CFO role effective immediately. Ms. Marikar joined Keyera in 2005. Most recently, she served as Vice President, Finance, and was responsible for leading Keyera's Investor Relations, Treasury, Accounting, Tax and Credit [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. 14 Lead Tech, Electrical & Instrumentation AltaGas Joffre May. 13 Senior Advisor, Health & Wellness TC Energy Calgary May. 13 Engineer - Stress [Read more]
Oilpatch M&A expected to pick up after pandemic’s dampening of demand eases
CALGARY - The financial stress caused by low oil prices from plummeting fuel demand during the COVID-19 pandemic will result in a wave of Canadian energy mergers and acquisitions — but not until after the world begins to return to normal, observers say. Benchmark U.S. oil prices so far this year have ranged from over US$61 per barrel in early January to less than zero on April 20 and the uncertainty has resulted in a very quiet marketplace, said Tom Pavic, president of M&A firm Sayer [Read more]