CALGARY - Point Loma Resources Ltd. (TSXV:PLX) ("Point Loma" or the "Corporation") is pleased to announce the first closing of a transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta. Highlights As per the December 17, 2019 press release, Point Loma has completed the first closing of the Wizard Lake transaction (the "Transaction") with the receipt of $1.2 million cash consideration and the transfer of various working interest properties to Point [Read more]
Headlines
Oil declines, but losses limited as U.S.-China near trade deal
Oil prices slipped on Monday, but held near recent three-month highs amid optimism that the United States and China are close to signing a trade deal, with President Donald Trump saying an agreement would be signed "very shortly". West Texas Intermediate was down 25 cents at $60.19 a barrel. Brent crude was down 15 cents, or 0.2%, at $65.99 a barrel. A so-called phase one deal was announced earlier in December as part of a bid to end the months-long tit-for-tat trade war between the [Read more]
Column: Let’s all Join the Green Party!
Let's all Join the Green Party! No, I don't mean the group led by Elizabeth May and her followers. While I'm sure she is a nice lady with good intentions, I don’t like the way her and other contemporary greens have drifted away from true environmentalism and became fixated on opposing carbon dioxide. The “party” I am referring to is the planetary feast with free food for all due to the recent abundant carbon dioxide being lavished on the atmosphere. We all know the level of CO2 has [Read more]
International Petroleum Corporation Announces Results of Share Repurchase Program
TORONTO - International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 785,312 IPC common shares (ISIN: CA46016U1084) during the week of December 16 to 20, 2019 under the previously announced share repurchase program. The share repurchase program, announced by IPC on November 7, 2019, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation [Read more]
Canada weekly rig count down 4 to 149
Canada’s fleet of active drilling rigs shrank from 153 to 149 since last week according to data from Baker Hughes. Total drilling count was 149 at December 20. 88 rigs were drilling for oil; 61 for natural gas. The drilling activity in Alberta increased, growing from 98 to 102 rigs. Saskatchewan's drilling declined from 41 to 33 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]
U.S. drillers add most oil rigs in week since Feb 2018
U.S. energy firms added the most oil rigs this week since February 2018 - primarily in the Permian shale - even though producers have been reducing spending on new drilling for much of this year. Companies added 18 oil rigs in the week to Dec. 20, bringing the total count to 685, the most since early November, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 883 active rigs. In the Permian in West Texas and [Read more]
Crude-by-rail exports fall 15% in October as price differential tightens
CALGARY - The Canada Energy Regulator says exports of crude oil by rail fell by 15 per cent in October to 270,000 barrels per day from 319,600 bpd in September. The October number is the lowest in six months and well below the record high of 354,000 bpd set in December of 2018. The regulator blames the decrease on narrower price difference between prices Western Canadian Select bitumen-blend oil in Alberta and U.S. benchmark West Texas Intermediate in New York. It costs more to ship oil [Read more]
Canada regulator shuts down Suncor offshore oil site over failed pump
The oil regulator for the Atlantic Canadian province of Newfoundland and Labrador has ordered Suncor Energy's offshore Terra Nova site to shut down, finding the company's fire water pump system was non-compliant. Terra Nova, operating in the Atlantic Ocean 350 kilometres (217 miles) east of St. John's, failed to maintain and inspect critical safety equipment, carry out timely repairs and ensure it mitigated potential hazards, the Canada-Newfoundland and Labrador Offshore Petroleum Board [Read more]
TC Energy reaches long-term toll settlement with customers on the Canadian Mainline
CALGARY - News Release -- TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that its wholly owned subsidiary, TransCanada PipeLines Limited, has filed an application with the Canada Energy Regulator (CER) for approval of a six-year negotiated and unanimously supported settlement with its customers and other interested parties on Canadian Mainline tolls. TransCanada PipeLines Limited has requested timely approval of the unanimous settlement to ensure certainty before terms [Read more]
Pengrowth Announces Court Approval for Arrangement
CALGARY - Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that, following the requisite shareholder and secured debt holder approvals having been obtained at the special meetings, it has obtained a final order of the Court of Queen’s Bench of Alberta approving the plan of arrangement (the “Arrangement”), pursuant to which Cona Resources Ltd. will acquire all of the outstanding common shares of Pengrowth. Pengrowth anticipates that the [Read more]