The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Thursday:* Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, traded at $16.00 per barrel below WTI, according to Net Energy Exchange. On Wednesday November WCS settled at $15.30 a barrel below WTI.* Light synthetic crude from the oil sands weakened to trade at $1.00 per barrel over WTI, having settled at $1.50 per barrel over the benchmark the previous [Read more]
Headlines
Tourmaline Announces Formation of Topaz Energy, Unlocking Value in Tourmaline’s Significant Asset Base
Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline") is pleased to announce the formation of Topaz Energy Corp. ("Topaz"), a new private royalty and infrastructure energy company. Tourmaline will sell to Topaz: a royalty interest on Tourmaline lands, a non-operated interest in two of Tourmaline's existing 19 natural gas processing plants, and a contracted interest in a portion of Tourmaline's current third-party revenue for total cash and share consideration of $775 million. Topaz will be a [Read more]
Saudi Arabia says its oil output fell 660,000 bpd in Sept after attacks
Saudi Arabia, the world's largest oil exporter, told OPEC that the kingdom's oil production in September fell by 660,000 barrels per day (bpd) compared with August to 9.13 million bpd in the wake of attacks on its energy installations. Secondary sources said Saudi Arabia's oil production was even lower, falling month-on-month in September by 1.28 million bpd to 8.56 million bpd, OPEC's monthly report showed. The Sept. 14 attacks targeted two of state oil giant Saudi Aramco's plants, [Read more]
PetroFrontier Corp. Announces Proposed Financing
PetroFrontier Corp. ("PetroFrontier") (TSXV:PFC) is pleased to announce that it has entered into a letter of intent and related term sheet with an arm's-length third party funder whereby the third party funder and its affiliates (collectively, the "Funder") will provide funding to allow PetroFrontier to further develop its interests in the Cold Lake and Wabasca areas of Alberta (the "Proposed Funding Transaction"). Pursuant to the term sheet, the Proposed Funding Transaction will proceed as [Read more]
Register Now: Discover Conference
Explore Canada’s Role and Opportunities in the New Energy Future – Discover Conference 2019 on October 29, 2019 Join us for an afternoon of thoughtful dialogue on the opportunities and challenges facing the Canadian energy industry. The Discover Conference 2019 brings insights from Sproule experts together with our industry partners to explore Canada’s role and opportunities in the new energy future. Registration is complimentary, to request your invite, [Read more]
Don’t miss your chance to witness the future of pipeline data management!
On October 24, GDM Pipelines will be hosting a showcase of innovative technologies that are transforming pipeline data management. Space is running out…don’t miss your chance to join us! Here's what you can expect... As we enter 2020, oil and gas companies are continuing to look for ways to streamline operations. More and more, this includes strategies to leverage data to its full potential, ultimately creating efficiencies across the entire organization. From in-field data collection, to [Read more]
Auction of Major Oilfield Services Contractor Assets – Oct. 23
Late Model Oilfield Services Fleet Featuring: Freightliner, Peterbilt & Kenworth Semi/Vac Units, Peterbilt, Kenworth, Freightliner & Western Star Pressure Trucks, Peterbilt, Western Star, International & Kenworth Flush-By Trucks & Scona, Marcep Trailer, Deloupe, Advance, Covax, Magnum & Westech Vacuum Trailers & More. For Information, click here. [Read more]
TransGlobe Energy Corporation Announces an Operations Update
This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta, Oct. 10, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) announces an operations update. All dollar values are expressed in US dollars unless otherwise [Read more]
Alberta incorporates energy war room as Canadian Energy Centre, work starts soon
EDMONTON - Alberta's energy war room is now on a legal footing and will soon be up and running. Energy Minister Sonya Savage told the legislature the war room is now incorporated and will be formally titled the Canadian Energy Centre. Savage says the centre will focus on improving the reputation of Alberta's oil and gas sector and challenging those it believes are delivering misinformation. She announced it will be run by Tom Olsen, a former journalist and a United Conservative [Read more]
Oil rises on signs of easing U.S.-China tensions
Oil rose on Wednesday following media reports that China was open to agreeing a partial trade deal with the United States, while Turkey’s military operation in northern Syria also supported prices as it could impact regional oil production. U.S. West Texas Intermediate crude was at $53.57, up 94 cents. Brent crude was up 97 cents at $59.21 a barrel. Negotiators from the United States and China, the world’s top two economies, will meet in Washington on Thursday in the latest effort to [Read more]