30 July

A pumpjack works at a well head on an oil and gas installation near Cremona, Alta., Saturday, Oct. 29, 2016. File photo by The Canadian Press/Jeff McIntosh The Petroleum Services Association of Canada is cutting its 2020 Canadian drilling forecast for a third time as the industry remains mired in a slump expected to extend […]

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30 July

Husky Energy’s headquarters in Calgary. Husky Energy Inc. on Thursday posted a quarterly loss as the COVID-19 pandemic caused crude oil prices to crash and sapped global demand for fuel. Crude prices also weakened after top producers, Saudi Arabia and Russia, decided to flood the market with oil earlier this year. The company said quarterly […]

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30 July

(Reuters) – ConocoPhillips reported a wider-than-expected loss on Thursday, as the oil and gas producer was hit by a plunge in crude prices due to a short oil price war and coronavirus-induced lockdowns that sapped demand for fuel. The pandemic destroyed demand for oil and gas as travel and other businesses came to a halt […]

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30 July

Canaccord Genuity analyst Anthony Petrucci maintained a Hold rating on Baytex Energy ( BTE ) today and set a price target of C$0.85. The company’s shares closed last Wednesday at $0.50. According to TipRanks.com , Petrucci ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -22.8% and a […]

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30 July

A decommissioned pumpjack is shown at a well head at an oil and gas installation near Cremona, Alta. (Jeff McIntosh/The Canadian Press) The Alberta government is revamping how it regulates oil and gas producers in an attempt to start addressing the province’s swelling inventory of inactive oil and gas wells. The biggest change will be […]

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30 July

Canada was the world’s fourth-largest producer of petroleum and other liquids in 2019, but in the first half of 2020, Canada’s production declined 20% from its 2019 average of 5.5 million bpd. Canada’s production of petroleum and other liquids declined as a result of low global crude oil prices, reduced demand for crude oil for […]

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30 July

(Bloomberg) — Total SE made a surprise profit after “very good” trading gains offset some of the slump in oil and gas prices due to the coronavirus pandemic. Mirroring the performance of some of its peers, the French energy giant published a litany of grim figures — including an $8.1 billion writedown — for the […]

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30 July

CALGARY, Alberta (AP) _ Baytex Energy Corp. (BTE) on Wednesday reported a second-quarter loss of $99.9 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Calgary, Alberta-based company said it had a loss of 18 cents. The oil and natural gas company posted revenue of $110.2 million […]

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30 July

* Net profit down 96% * Oil and gas production down 4% * Keeps dividend steady (Adds CEO, detail) PARIS, July 30 (Reuters) – French energy major Total reported a 96% fall in second-quarter net profit to $126 million on Thursday as the coronavirus knocked oil prices and demand but said it would maintain its […]

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29 July

Oil prices have remained range-bound for the past several weeks, with the market in limbo as another COVID wave looms. Chart of the Week – 40 U.S. producers surveyed by the EIA posted a combined $48 billion in write downs in the first quarter of 2020, the largest negative adjustment in years. – The companies […]

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