CALGARY, AB - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV: SDE) is pleased to provide an update on the Company's operational and corporate activities since the closing of its transformational transaction on June 1, 2020, which included the acquisition of high-quality, multi-zone, oil and gas operated production in Alberta, a large land base and a strategic infrastructure footprint (the "Transaction"). The Transaction positions Spartan as an intermediate exploration and development [Read more]
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Razor Energy Corp. announces deferral of interest payment
CALGARY, Alberta - Razor Energy Corp. ("Razor" or the "Company") (TSXV: RZE) is announcing that it will be deferring the scheduled June 30, 2020 interest payment to the Alberta Investment Management Corporation (“AIMCo”) under the existing $45.0 million Term Loan Facility (the “Amended Term Loan Facility”). The interest will be capitalized, adding to the principal of the existing Amended Term Loan Facility. The Amended Term Loan Facility matures on January 31, 2021 and bears an interest rate [Read more]
Presidential hopeful Biden could be swayed to supporting Keystone XL: Kenney
OYEN, Alta. - Premier Jason Kenney says he believes United States presidential hopeful Joe Biden can be swayed to supporting the Keystone XL pipeline. The presumptive Democratic nominee has vowed to rip up President Donald Trump's approval of the Alberta-to-Texas crude oil conduit if his party wins back the White House this fall. Kenney says his government would be reaching out to Democrats who support the project, as well as unions with members who would be put to work building it. The [Read more]
Heavy discount narrows slightly in thin U.S. holiday trade
Canadian heavy crude's discount narrowed versus West Texas Intermediate (WTI) on Friday, in slow trade during the U.S. Independence Day holiday. Canadian differentials have compressed due to deep oil curtailments in spring, although improving prices have encouraged producers to restore some volumes. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, traded at $8.50 per barrel below WTI, according to NE2 Canada Inc, narrower than Thursday's settle of [Read more]
Canada’s Supreme Court dismisses appeal of long-delayed Trans Mountain oil pipeline
Canada's Supreme Court dismissed an appeal on Thursday of a lower court decision that had backed Ottawa's approval of expanding the Trans Mountain oil pipeline, removing a potential major obstacle to completion. The top court posted the decision on its website without further detail. The pipeline has put Prime Minister Justin Trudeau's Liberal government, which bought it in 2018 to ensure the expansion overcame legal and regulatory obstacles, in a political quandary. He has promised to [Read more]
NevadaNano modernizes combustible gas sensor technology, powers Blackline Safety’s G7 wearables
June 24, 2020 (Reno, Nev.) -- NevadaNano today announced its partnership with Blackline Safety Corp. (TSX.V: BLN) to modernize combustible gas detection systems in a range of industries, ensuring the safety of workers. NevadaNano’s signature line of microelectromechanical systems (MEMS)-based gas sensors, the Molecular Property Spectrometer (or MPS™) Flammable Gas Sensors, are integrated into Blackline’s portfolio of cloud-connected G7 connected safety wearables. NevadaNano MPS sensors [Read more]
Longshore Resources Ltd. closes previously announced transformational transaction
Calgary, July 3, 2020 - Longshore Resources Ltd. (“Longshore”) is pleased to announce that it has closed the consolidation transaction (the “Transaction”) previously announced on June 8, 2020. Longshore has acquired all of the outstanding shares of Rifle Shot Oil Corp. (“Rifle Shot”), Steelhead Petroleum Ltd. (“Steelhead”), and Primavera Resources Corp. (“Primavera”) (Longshore, Rifle Shot, Steelhead and Primavera collectively referred to as the “Companies”). The Transaction will further enhance [Read more]
Oil falls as growing coronavirus cases stoke fuel demand worries
Crude prices fell on Friday as the resurgence of the coronavirus globally and in the United States, the world's largest oil consumer, dimmed the prospects of fuel demand recovery. U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.8%, to $40.31 a barrel. Brent crude futures were down 37 cents, or 0.9%, at $42.77 a barrel as of 0042 GMT. Both benchmarks rose more than 2% on Thursday, buoyed by stronger-than-expected U.S. jobs data and a fall in U.S. crude inventories. [Read more]
Heavy discount narrows, new trading cycle begins
Canadian heavy crude's discount narrowed versus West Texas Intermediate (WTI) on Thursday, the beginning of a new monthly trading cycle. Deep curtailments and ample space in storage and pipelines have compressed differentials, traders say. Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, traded at $8.70 per barrel below WTI, according to NE2 Canada Inc, narrower than Tuesday's settle of $10.35 under. Tight Canadian price differentials are [Read more]
U.S. oil & gas rig count hits record low for 9th week -Baker Hughes
U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a ninth week in a row although the reductions have slowed as higher oil prices prompt some producers to start drilling again. The U.S. oil and gas rig count, an early indicator of future output, fell by two to an all-time low of 263 in the week to July 2, according to data on Thursday from energy services firm Baker Hughes Co going back to 1940. That was 700 rigs, or 73%, below this time last [Read more]