Oil prices fell on Tuesday as optimism for a straightforward recovery in fuel demand faded and a looming increase in supply weighed on the market, with Libya's state oil company flagging progress on talks to resume exports. U.S. West Texas Intermediate (WTI) crude futures fell as much as 44 cents, but recovered slightly after stronger-than-expected Chinese factory data. By 0201 GMT they were trading down 26 cents, or 0.7%, at $39.44 a barrel, having jumped 3% on Monday. Brent crude [Read more]
Headlines
Cardinal Energy Ltd. announces extension of revolving credit facility
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) has received approval to extend the revolving period applicable to the Company’s existing reserves-based credit facility to July 15, 2020. The credit facility continues to be available, on a revolving basis, until that date. In connection therewith, the date for the re-determination of the borrowing base has also been extended to July 15, 2020. The extension of the borrowing base re-determination to July 15, 2020 [Read more]
Peyto provides operational update and amends credit and note purchase agreements
CALGARY, Alberta - Peyto Exploration & Development Corp. (“Peyto” or the “Company") (TSX: PEY) announces today an operational update, amended credit and note purchase agreements, and reaffirms its 2020 capital guidance supported by the Company’s sustainable business model. The COVID-19 pandemic has had an unprecedented impact on near term hydrocarbon demand and placed a considerable economic burden on a struggling Canadian energy industry. Lower commodity prices, decreased liquidity and [Read more]
Petrus Resources announces extension to credit agreement
CALGARY, Alberta - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) announces its syndicate of lenders has extended the borrowing base termination date on its revolving credit facility agreement from June 29, 2020 to July 6, 2020. The extension also includes consent from the lenders to expand the Total Debt to Adjusted EBITDA Ratio covenant from 3.5:1.0 to 3.75:1.0 for the quarter ending June 30, 2020. The Company continues to be in discussions with the bank syndicate on a one year [Read more]
Oil rises on improving economic data, supply cut
Oil prices rose on Monday, supported by improving economic data and supply cuts by major producers, though a spike in new coronavirus infections around the world capped the gains as some countries were forced to reimpose partial lockdowns. U.S. crude was up 60 cents, or 1.6%, at $39.09. Brent crude rose 52 cents, or 1.3%, to $41.54 a barrel by 1215 GMT. Both contracts had fallen almost $1 earlier in the session. Crude prices found some support as profits at China’s industrial firms [Read more]
Interview with Dr. Leslyn Lewis
BOE Report publisher Josh Groberman had the opportunity to interview Dr. Leslyn Lewis about her bid for the leadership of the Conservative Party of Canada. Lewis is challenging preconceptions of who can succeed as a politician and believes that Canada needs strong, courageous and honest leadership more than ever. Have a listen to Leslyn's plans and her thoughts on Canada's current state: [Read more]
Hemisphere Energy Announces Renewal of Normal Course Issuer Bid
Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has accepted the Company's Notice of Intention to renew its Normal Course Issuer Bid (the "NCIB") to purchase for cancellation, from time to time, as Hemisphere considers advisable, up to 7,869,931 common shares ("Common Shares") of the Company, representing approximately ten percent (10%) of the current public float of the [Read more]
Free Rein completes strategic joint venture partnership for new water disposal site in Golden Spike area
Calgary, AB - Free Rein Resources Ltd. (“Free Rein”), a private oil and gas exploration company with operations in Central Alberta, announces the completion of the Joint Venture Partnership with Nucor Environmental Solutions Ltd. (“NES”) to construct a water disposal site located between Devon and Spruce Grove in Alberta. NES will begin constructing the site June 2020, and will begin operations late July 2020. This site will commence with ‘Class II’ injection [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 - TransGlobe Energy Corporation (“TransGlobe” or the “Company”) announces an operations update. All dollar values are expressed in US dollars unless otherwise stated. UPDATES Production has averaged 14,447 Boepd in Q2 2020 to date (April [Read more]
Kenney says ambitious, long-term Alberta economy reboot plan coming Monday
GRANDE PRAIRIE, Alta. - Premier Jason Kenney says his government's blueprint to reboot Alberta's distressed economy will be announced Monday in Calgary. "It will be a bold and ambitious plan to make strategic investments to get people working right now when we need it most, but also to invest in the long-term productivity of our economy," Kenney said Friday. He said it will involve the largest ever spending on public infrastructure, including areas such as health care and [Read more]