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]
Headlines
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]
Alberta backing offsets higher risk after Biden vows to kill Keystone XL: analyst
CALGARY - A financial analyst says Alberta government backing means TC Energy Corp. can be more comfortable continuing construction of the Keystone XL pipeline this summer despite Joe Biden's vow to kill it if he is elected president in November. Jennifer Rowland of Edward Jones says it's not surprising that the campaign for the leading U.S. Democratic Party candidate said Monday that he would cancel the presidential permit for the project issued by President Donald Trump. She says the [Read more]
Oil prices mixed as Brent retreats on profit-taking after rally
Oil prices were mixed on Tuesday, with Brent pulling back from an early gain on profit-taking, while U.S. crude extended its rally amid signs that producers are cutting output as promised just as demand picks up on a resumption of economic activity. U.S. West Texas Intermediate crude was up 11 cents, or 0.4%, at $31.93 a barrel, giving up some of its earlier gains. It rose as high as $33.44 earlier in the session, hitting its highest since March 16. Brent crude fell 19 cents, or 0.6%, to [Read more]
Point Loma Resources announces the cessation of operations
CALGARY, AB - Point Loma Resources Ltd. (TSX.V:PLX) (the "Corporation" or "Point Loma") announces the cessation of all operations effective May 21, 2020. The board of directors, after extensive and careful consideration, have determined that Point Loma's business is no longer viable. In the present economic environment, Point Loma has been unable to refinance or recapitalize its business, and the Corporation, therefore, no longer has the financial capability to carry on its operations. Point [Read more]
Biden vowing to rip up Keystone XL approvals if former VP wins White House
WASHINGTON – Joe Biden’s campaign says the former vice-president will rip up President Donald Trump’s approvals for the Keystone XL pipeline if he takes over the White House next year. Campaign officials made Biden’s first policy pronouncements on the controversial cross-border pipeline expansion, designed to ferry Alberta oilsands bitumen to refineries on the U.S. Gulf Coast, in a statement today to Politico. Biden is no stranger to standing in the way of the Calgary-based TC Energy [Read more]
U.S. oil output from major shale to drop in June to nearly 2-year low
U.S. crude production from seven major shale formations is expected to fall by a record 197,000 barrels per day in June to 7.822 million bpd, the U.S. Energy Information Administration said in a monthly report on Monday. The output from shale formations would be the lowest since August, 2018, according to data from the agency. U.S. crude production from shale formations has more than doubled since 2013, lifting the country's overall oil output to new record highs. [Read more]