Calgary, Alberta--(Newsfile Corp. - March 22, 2023) - Obsidian Energy Ltd. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce an increase to our syndicated credit facility to $200.0 million from $175.0 million, with an extension of the revolving period to May 31, 2024, and the term-out date to May 31, 2025. The increase was part of our semi-annual borrowing base redetermination, which was completed earlier than normal (typically occurs [Read more]
Headlines
Oil steady after weekly U.S. crude stocks exceed expectations
Oil was steady in trade on Wednesday morning, paring two straight days of gains after an industry report showed U.S. crude inventories rose unexpectedly last week in a sign fuel demand may be weakening. U.S. West Texas Intermediate (WTI) crude futures slightly rose 26 cents, or 0.37%, at $69.72. Brent futures, which have risen more than 3% this week, rose 39 cents, or 0.52%, at $75.42 a barrel. Data from the American Petroleum Institute on Tuesday showed U.S. crude inventories rose by [Read more]
XI Technologies: Blueberry River First Nations Area Overview
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like Word to the Wise delivered directly to your inbox, subscribe here. In June of 2021, a BC Supreme Court judgment agreed with the 2015 claim that years of industrial development in the region violated the Treaty 8 rights of the Blueberry River First Nations. As of this January, the BC government and the [Read more]
Pieridae releases Q4 and full year 2022 results, 2022 reserves & revises 2023 guidance
CALGARY, Alberta - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) announces the release of its fourth quarter and full year 2022 financial and operating results and year end 2022 reserves. Pieridae generated Net Operating Income (“NOI”)1 of $201 million and made term debt principal repayments totalling $48 million during 2022. In addition, the Company filed its Annual Information Form ("AIF") for the year ended December 31, 2022 containing Pieridae's 2022 independent oil and [Read more]
Tenaz Energy Corp. announces 2022 year-end results and reserves
CALGARY, AB - Tenaz Energy Corp. ("Tenaz", "We", "Our", "Us" or the "Company") (TSX: TNZ) is pleased to announce financial and operating results for the three months and year ended December 31, 2022 and provide a year-end 2022 reserves summary of its independent reserve report (the "McDaniel Report"), prepared by McDaniel and Associates Consultants Ltd. ("McDaniel") dated March 15, 2023 with an effective date of December 31, 2022. The related audited consolidated financial statements, as [Read more]
OPEC+ likely to stick to its guns despite price slump, delegates say
OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a banking crisis sent crude prices plunging, three delegates from the producer group told Reuters. Oil prices hit 15-month lows on Monday in response to the banking crisis that followed the collapse of two U.S. lenders and resulted in Credit Suisse being rescued by Switzerland's biggest bank UBS. Brent crude was trading around $75 a barrel on Wednesday morning. Last [Read more]
US natgas futures fall 4% as output rises, demand declines
U.S. natural gas futures fell about 4% on Wednesday, erasing most of the prior session's 6% gain, as output continues to rise while demand declines with the coming of seasonally milder, spring-like weather. That price decline came even as the amount of gas flowing to liquefied natural gas (LNG) export plants was on track to hit a record high this week after Freeport LNG's plant in Texas exited an eight-month outage in February. Prices also dropped despite forecasts for cooler weather and [Read more]
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. 20 Renewable Energy Operations Coordinator Northern Energy Capital Whitehorse Mar. 20 Senior Business Development Executive Johnson Service Group [Read more]
Canada Energy Partners announces termination of acquisition in Texas
VANCOUVER, BC, March 21, 2023 /CNW/ - Canada Energy Partners Inc. (NEX: CE.H) (the "Corporation"). The Corporation announces that the previously announced acquisition in the Grand Slam Project in Texas has been terminated by mutual consent of the parties. The Corporation paid a US$25,000 non-refundable deposit to the arm's length vendor under the transaction, but otherwise has no further obligations under the terminated transaction. The Corporation's listing will remain on the NEX board of [Read more]
Traders, funds bullish on oil price despite banking woes
The biggest oil traders and energy hedge funds speaking at the FT Commodities Global Summit struck a bullish tone despite banking jitters, and see a jump in oil prices by the year end. Pierre Andurand, founder of hedgefund Andurand Capital, was the most bullish and saw a potential Brent oil price of $140 a barrel by the end of the year. He said the current oil price downturn was speculative and not based on fundamentals. Oil prices rose for a second day on Tuesday after slumping to [Read more]
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