Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to provide its financial and operating results for the fourth quarter and year ended December 31, 2023. 2023 Highlights Increased fourth quarter production by 16% to a record of 3,386 boe/d (99% heavy oil), and annual production by 11% to 3,125 boe/d (99% heavy oil), as compared to 2022. Achieved annual revenue of $84.5 [Read more]
battery
US climate law has boosted solar, batteries; hydrogen, other initiatives lag
The U.S. has doubled the pace of cutting carbon emissions since President Joe Biden's Inflation Reduction Act (IRA) passed in 2022, analysts and scientists said, with more than 80 solar, wind and energy storage projects taking advantage of the law's mix of direct payments and tax credits. The IRA and the Bipartisan Infrastructure Law last year provided $239 billion for clean energy, electric vehicles (EVs), electrification of buildings, and carbon management in the U.S., up 38% from 2022, [Read more]
Road oil demand to peak by 2032 as EVs become more popular, Goldman forecasts
Global road oil demand will rise 5% to a peak of 50 million barrels per day by 2032, Goldman Sachs forecasts, with oil use per vehicle likely to fall sharply because electric vehicles are expected to account for more than half of auto sales by 2040. The investment bank sees global road oil demand edging down along a long plateau after the peak and remaining 4% above 2023 levels by 2040, as a rise in the global number of vehicles nearly offsets the decline in oil consumption per vehicle. It [Read more]
Goldman Sachs retains bullish view for commodities in 2024
Goldman Sachs held onto its view to go long on commodities in 2024 which have given a 9% return year to date, which is further expected to rise to 15% by year-end, on cyclical and structural support to demand, and geopolitical risks. The bank forecast a return of 20% in select sectors such as energy and industrial metals ex-nickel and zinc in the S&P GSCI Commodity Index for 2024, it wrote in a research note dated Sunday. Data so far across developed and emerging markets have renewed [Read more]
Energy wise, how do you even describe 2024
Huh. Look at that. It’s been ten years since I started writing about energy. Not that that particular trivia interests anyone, why would it, however it is interesting to look back at the impetus for writing and how that has changed. Ten years ago, as I worked in a communications department for an energy infrastructure business that did not like publicity of any kind whatsoever, it began to dawn on me how dangerous were the habits that formed thereof, and how far reaching the consequences. As [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. 18 Instrumentation Technician Tundra Oil and Gas Estevan Mar. 15 Oil Battery Operator Roska DBO Grande Prairie Mar. 15 Field Operator Roska DBO Dawson [Read more]
Shell publishes Energy Transition Strategy 2024
Shell publishes Energy Transition Strategy 2024 Shell will continue its drive to halve emissions from its operations (Scope 1 and 2) by 2030, compared with 2016 on a net basis. By the end of 2023, Shell had achieved more than 60% of this target. Shell also reduced the net carbon intensity of the energy products it sells by 6.3% compared with 2016, the third consecutive year it hit its target. To help drive the decarbonisation of the transport sector, Shell has set a new ambition to [Read more]
Minimize Risk and Maximize Value with GLJ’s Integrated Services Team
Today’s energy industry isn’t the one your parents knew. Not very long ago, players in the energy industry were grouped, at least in peoples’ minds, by their business lines. Some were oil companies, some were gas, some explorers, others, producers. Pipeline companies moved the products that others produced, coal fueled electricity generation, and everyone generally knew what the others were up to. The world has changed and so has the energy sector and all its players. The world’s energy needs [Read more]
Coelacanth Energy Inc. announces capital budget & operations update
Calgary, Alberta--(Newsfile Corp. - March 7, 2024) - Coelacanth Energy Inc. (TSXV: CEI) ("Coelacanth" or the "Company") announces that its Board of Directors has approved a capital budget ("Budget") of up to $128 million to be invested in 2024 and Q1 2025. Substantially all of the Budget will be spent at Two Rivers where Coelacanth is developing its large Montney acreage position. Approximately $80 million is to be invested in infrastructure at Two Rivers East where the Company had previously [Read more]
Surge Energy Inc. announces record annual production in 2023; fourth quarter and year end financials for 2023; 2023 year end reserves
CALGARY, AB, March 6, 2024 /CNW/ - Surge Energy Inc. ("Surge", "SGY", or the "Company") (TSX: SGY) is pleased to announce its financial and operating results for the quarter and year ended December 31, 2023; and its year end 2023 reserves as independently evaluated by Sproule Associates Limited ("Sproule"). Surge's disciplined operating strategy involves focusing growth and development capital to high netback, low cost, light and medium gravity crude oil reservoirs, that possess [Read more]
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