CALGARY, Alberta - Saturn Oil & Gas Inc. ("Saturn" or the "Company") (TSX.V: SOIL) (FSE: SMK) today provides a corporate update in response to recent market volatility caused by the COVID-19 pandemic and the continued oil price weakness. Saturn is pleased to confirm that in the interests of managing risk through an uncertain environment, the Company has secured a fixed price hedge on production of 400 barrels (“bbl”) of oil per day at CAD $65.40 per bbl through February, 2021. With this [Read more]
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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 Mar. 24 Human System Integration Engineer Brunel Halifax Mar. 23 Camp Cook Roska DBO Whitecourt Mar. 23 Electrical and Instrumentation Technician Roska [Read more]
Bonavista Energy Corporation Provides Financial Update
Calgary, Alberta - Bonavista Energy Corporation (TSX: BNP) ("Bonavista" or the "Company") and Canadian Imperial Bank of Commerce ("CIBC") as administrative agent on behalf of a syndicate of lenders, including CIBC, The Toronto-Dominion Bank, Bank of Montreal, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, ATB Financial and Federation des Caisses Desjardins du Quebec, under its existing unsecured $500 million bank credit facility (the "Facility") have agreed, subject to [Read more]
Canada oil sands worker tests negative for coronavirus
FORT MCMURRAY, Alta. - The operator of a work lodge north of Fort McMurray, Alta., says a guest who fell ill last week does not have COVID-19. Houston-based Civeo Corp. said last Friday the worker was taken to hospital with symptoms consistent with the novel coronavirus. Civeo says it has since been informed by the worker, who was staying at the Borealis Lodge by Suncor's base mine, that the test came back negative. Civeo says its team followed stringent protocols and cautiously managed [Read more]
Suncor cuts $1.5 billion from budget to cope with low oil prices, virus impact
CALGARY - Suncor Energy Inc. is cutting its 2020 capital spending budget by $1.5 billion or 26 per cent to a range between $3.9 billion and $4.5 billion. The Calgary-based producer and refiner is putting several projects on hold to deal with lower oil prices linked to a market share battle between Saudi Arabia and Russia, and lower demand for its retail fuel because of the COVID-19 pandemic. The shelved projects include a $1.4-billion plan announced in September to install two cogeneration [Read more]
Bankruptcy Sale: Direct Oil & Gas Inc.
MNP Ltd. (the “Trustee”) has been appointed as the Trustee of the bankrupt estate of Direct Oil & Gas Inc. (“Direct” or the “Company”). The Trustee has engaged Sayer Energy Advisors to assist the Trustee with the sale of all of Direct’s oil and natural gas properties. The Company’s assets are concentrated in the northern part of the Peace River Arch in Alberta. The assets include interests in the Cecil, Dixonville, Eureka, Habay, Charlie, Beaton, Worsley, Notikewin, Hotchkiss, Lovet, [Read more]
U.S. oil extends fall as coronavirus shutdowns sap demand
Brent crude prices extended falls on Monday with demand sliding as travel and industrial activity contracted across the globe in a bid to stem the spread of coronavirus. West Texas Intermediate (WTI) crude futures were down 20 cents, or 0.78%, at $23.70 a barrel, having fallen 2 percentage points more than Brent this year. Brent crude futures were up 10 cents, or 0.47%, to $27.72 a barrel by 1223 GMT. The demand destruction caused by the coronavirus pandemic comes as the oil market [Read more]
Column: I hear there’s some bug going around…here’s what to do about it
One gets the feeling that we are going to be a very weird species in a few months after the pandemic is under control (and it will be). A trip to the store for some basic supplies or to a parking lot to buy black-market toilet paper creates a feeling that must have been what French Resistance fighters felt like in WWII. Popping one’s head out is to be placed in imminent danger. We shun other people and scurry to the other side of the street when more than one or two crowd our personal space [Read more]
Get Your Hauling Operations Under Control
The shale boom has created an increase in the number of suppliers and field tickets generated for work performed. Low value, high volume activities are a feature of the shale boom – these are perfect conditions for ticket inaccuracy. Watch the on-demand webinar to learn how recent enhancements to OpenTicket allow operators to ensure hauling tickets are more accurate and prevent loads from being misallocated or under reported. Get an update on the latest from OpenTicket, including practical [Read more]
Chevron Announces Actions in Response to Market Conditions
Reduces 2020 capital spending plan by $4 billion, or 20% Permian production guidance reduced by 20% Suspends share repurchases Actions protect the dividend, prioritize long-term value, and support industry leading balance sheet SAN RAMON, Calif. - Chevron Corporation today announced several steps it is taking in response to market conditions. “With an industry leading balance sheet and a flexible capital program, we believe Chevron is resilient and positioned to withstand this [Read more]