Oil prices rose on Friday, extending day-earlier gains, as data showed demand for crude picking up in China after the easing of curbs to stem the coronavirus outbreak, boosting hopes that the global supply overhang may start to fade. West Texas Intermediate (WTI) oil was up 71 cents, or 2.5%, at $28.71 a barrel, having jumped 9% in the previous session. WTI is heading for a third weekly increase, up more than 12%. Brent crude was up 39 cents, or 1.3% at $31.52 a barrel by 0333 GMT, after [Read more]
Headlines
Cequence Energy announces first quarter financial results
CALGARY, Alberta - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its operating and financial results for the three months ended March 31, 2020. The Company’s Management’s Discussion and Analysis (“MD&A”) and Condensed Consolidated Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS Production was 5,669 boe/d for the three months ended March 31, 2020 compared to 5,964 boe/d for the same period in [Read more]
Alberta Energy Regulator blocks sale of Shell assets over clean-up concerns
CALGARY - Alberta's energy regulator has blocked the sale of sour gas wells, pipelines and other facilities from an energy giant to a much smaller company over clean-up concerns. In a decision released today, the regulator says Calgary-based Pieridae Energy's attempted purchase of the southern Alberta assets from Shell Canada goes against the intent of environmental laws. The issue was seen as a test case of the regulator's determination to avoid clean-up costs for energy facilities [Read more]
Headwater Exploration Inc. announces first quarter operating and financial results and operations update
CALGARY - Headwater Exploration Inc. (the "Company" or "Headwater") (TSX:HWX) announces its operating and financial results for the three months ended March 31, 2020. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited interim condensed financial statements and the related management's discussion and analysis ("MD&A"). These filings will be available at www.sedar.com and the Company's website at [Read more]
Prairie Provident Resources announces first quarter 2020 financial and operating results
CALGARY, Alberta - Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") today announces our financial and operating results for the three months ended March 31, 2020. PPR’s unaudited condensed interim consolidated financial statements for the three months ended March 31, 2020 (“Interim Financial Statements”) and related Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2020 are available on our website at www.ppr.ca and filed on [Read more]
Heavy discount widens but remains in low range on large curtailments
Canadian heavy crude's discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Thursday, but remained near decade lows as curtailments ease oversupply concerns. The modest widening this week is due to a few producers moving barrels to buyers as WTI prices rise and Canadian prices reflect only a modest discount, a trader said. Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, traded at $4.75 per barrel below WTI, according to NE2 [Read more]
Oil prices inch higher on U.S. stockpile drop, but bleak outlook caps gains
Oil prices were lifted on Thursday by an unexpected drop in U.S. crude stocks, but gains were capped by both a bleak outlook for the world's no. 1 economy as the coronavirus pandemic crushes fuel demand and concern over a potential second wave of cases. U.S. West Texas Intermediate (WTI) crude futures were up 18 cents, or 0.7%, to $23.23 a barrel. Brent crude futures were up 48 cents, or 1.56%, at $29.94 per barrel at 0401 GMT. Prices have risen in the past two weeks as some countries [Read more]
Di-Corp to introduce a low-foaming powdered surfactant blend for cement spacer systems
The future of drilling in the WCSB is ever -changing, but it is safe to say that more environment-friendly and cost-effective processes and inputs will always play a vital part. As a leading Alberta manufacturer and distributor of oil and gas drilling fluids and additives, Di-Corp has continually invested in the research and development of made-in-Canada solutions that address drilling challenges and increase drilling efficiency. The most recent research and development outcome is a novel, [Read more]
Tidewater Midstream and Infrastructure Ltd. announces first quarter 2020 results and operational update
CALGARY - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the three-month period ended March 31, 2020. FIRST-QUARTER 2020 FINANCIAL PERFORMANCE Highlights Adjusted EBITDA increased by $19.1 million to $41.5 million in the first quarter of 2020 as compared to $22.4 million in [Read more]
Chiefs, governments to sign rights understanding after B.C. pipeline protests
VICTORIA - A virtual signing ceremony on Thursday marks the start of a new relationship between the hereditary chiefs of the Wet'suwet'en Nation and the federal and B.C. governments after tumultuous gas pipeline protests earlier this year, say government leaders. The hereditary chiefs who oppose Coastal GasLink's pipeline across their traditional territories are set to sign a memorandum of understanding with the two governments that was negotiated amid countrywide blockades, marches and [Read more]