Alberta Inquiry on oil sector under fire for commissioned reports skeptical of climate change Alberta government quietly gives another extension to complete report on inquiry into oil & gas critics Friday was the deadline for a public inquiry into what the Alberta government says is foreign funding of environmental groups who want to curtail energy […]
Read More
(Reuters) -Canadian pipeline operator Enbridge Inc reported second-quarter profit which beat expectations on Friday, as oil volumes transported on its Mainline system rose from a year ago due to a rebound in fuel demand. FILE PHOTO: Al Monaco, President and CEO, Enbridge, listens before speaking during the Enbridge Income Fund annual general meeting for shareholders […]
Read More
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 senior revolving credit facility agreement from July 30, 2021 to August 13, 2021. The Company’s second lien term loan provider has also agreed to extend the maturity […]
Read More
Alberta oil well in canola field Canada averaged 153 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 33% are drilling for natural gas, 59% are drilling for oil, 1% for other (helium, hydrogen, geothermal, or potash), and 7% are moving. Drilling activity by province is […]
Read More
Imperial Oil’s Kearl Oil Sands Mine CALGARY – Imperial Oil Ltd. says it earned $366 million in the second quarter and boosted production to its highest level in 25 years for the same period. The Calgary-based company says it earned 50 cents per share in the three months ended June 30, compared with a net […]
Read More
Kayla Goodfield The “egregious” amount of free cash flow that oil companies are currently generating may lead to significant share buybacks and dividends, according to a high-profile Canadian energy fund manager. “So far this year it’s been all about repairing the balance sheet damage that occurred last year,” said Eric Nuttall, a partner and senior […]
Read More
BC-New-Mexico-Posts-Oil-Output-Record-as-Permian-Basin-Bounces-Back , Sheela Tobben (Bloomberg) — New Mexico’s oil production surged to a record in May, lifting output to the second-highest in the nation and highlighting the Permian Basin’s role in leading the shale industry’s rebound from the pandemic. The southwestern state produced about 4% more crude in the month to reach a record 1.22 […]
Read More
Cabot Oil & Gas Corp. and Southwestern Energy Co. were the latest Appalachian operators to report weak price realizations in the second quarter, when pipeline constraints widened basis differentials in the Northeast. U.S. benchmark prices climbed during the period and have continued to move higher since, creating an even bigger gap with local prices in […]
Read More
Image source: The Motley Fool. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good morning and welcome to the Cabot Oil & Gas Corporation Second Quarter 2021 Earnings Call and Webcast. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question […]
Read More
Al Monaco, President and CEO, Enbridge, listens before speaking during the Enbridge Income Fund annual general meeting for shareholders in Toronto May 6, 2015. REUTERS/Peter Power July 30 (Reuters) – Canadian pipeline operator Enbridge Inc (ENB.TO) reported second-quarter profit which beat expectations on Friday, as oil volumes transported on its Mainline system rose from a […]
Read More