Crescent Point Energy Corp.’s $900-million acquisition of Royal Dutch Shell plc’s Kaybob Duvernay assets in Alberta announced Wednesday provides “an incredible opportunity to enter a premier basin” through a transaction that is immediately accretive, says the company’s top executive.
February 18, 2021, 10:48 AM MST
On a day in which it announced it was unloading its Duvernay assets, Ovintiv Inc. reported lower Canadian output overall, including from its dominant asset in Canada, the Montney.
February 18, 2021, 12 AM MST
“This week’s Duvernay deal activity reflects an incentive generally for producers to shore up cash positions where it makes strategic sense in terms of focus and timing, mitigate debt, or otherwise reposition their portfolio as they pivot to core assets or transition in other ways,” said Mark Young, senior M&A analyst at Evaluate Energy.
February 18, 2021, 9:50 AM MST
The Canada Energy Regulator (CER) has denied, with reasons to follow, an application from the Explorers and Producers Association of Canada (EPAC) for an extension of the Temporary Service Protocol (TSP) on the NOVA Gas Transmission Ltd. (NGTL) System.
February 18, 2021, 12 AM MST
Salt Bush Energy Ltd. (the “Company”), in connection with its Notice of Intention to Make a Proposal (the “NOI Proceedings”) commenced on January 13, 2021 pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act, RSC 1985, c B-3, has commenced a sale and investment solicitation procedure (“SISP”).
February 18, 2021, 7:01 AM MST
Despite the challenges brought about by COVID-19, TC Energy Corporation’s operating assets were largely unaffected said the company in posting net income attributable to common shares of $4.56 billion ($4.74 per share) for the year ended Dec. 31, 2020, compared to net income of $3.98 billion ($4.28 per share) for 2019.
February 18, 2021, 11:23 AM MST
Drilling rig activity in Western Canada and the Top 10 active operators as of Feb. 18, 2021, as reported this morning by Rig Locator.
February 18, 2021, 11:33 AM MST
On the heels of an unsolicited offer by Brookfield Infrastructure Partners L.P. to buy Inter Pipeline Ltd., the latter has launched a comprehensive review of strategic alternatives.
February 18, 2021, 3:23 PM MST
CIBC has joined RMI's Center for Climate-Aligned Finance as a strategic partner and the first Canadian bank to announce its partnership in the center's efforts to develop the agreements and tools necessary to align financial decision-making with the “long-term decarbonization of the real economy.”
February 18, 2021, 2:48 PM MST
While 2020 was a year in which many oil-weighted juniors focused on survival, 2021 is shaping up to be a “year of opportunity,” where Gear Energy Ltd. says it should again have the option of balancing excess free funds flow towards multiple strategic directions, including continued debt reduction, accelerated capital investment and associated growth or other returns to shareholders.
February 18, 2021, 2:33 PM MST
Waterous Energy Fund (WEF) subsidiary WEF Osum Acquisition Corp. says it has “improved” its all-cash offer to acquire common shares of Osum Oil Sands Corp.
February 18, 2021, 2:42 PM MST
February 18, 2021, 11:23 AM MST
Razor Energy Corp. has secured an extension to its existing non-revolving term loan facility from Alberta Investment Management Corporation (AIMCo) for an amended principal amount of $50.1 million.
February 18, 2021, 3:04 PM MST
February 18, 2021, 10:52 AM MST
North American Construction Group Ltd. is open to merger-and-acquisition opportunities, but for a business that deals with “hard assets” management sees some challenges right now in travelling to inspect potential assets.
February 18, 2021, 10:56 AM MST
Capital spending in Teck Resources Limited’s energy business unit in 2021 is expected to be $85 million, focused on tailings infrastructure and work to transition to the next mining area at Fort Hills.
February 18, 2021, 6:10 AM MST
Kelt Exploration Ltd. piloted its first sustainable low-emission wellsite facility last year, eliminating more than 90 per cent of potential emissions at the location by deploying new, innovative technologies.
February 18, 2021, 12 AM MST
Seven Generations Energy Ltd. has implemented its first fully electrified pad.
February 18, 2021, 7:08 AM MST
Seven Generations Energy Ltd. reported lower financial results in a tough 2020 market environment, while production decreased by nine per cent for the year.
February 18, 2021, 6:51 AM MST
New data from Evaluate Energy shows that MEG Energy’s oilsands operations generate the highest overall operating netback per barrel among North America’s heaviest oil-weighted producers.
February 18, 2021, 9:49 AM MST
Geoscience BC's Summary of Activities 2020: Energy and Water, contains 16 papers from Geoscience BC–funded projects or scholarship recipients that are within Geoscience BC's strategic focus areas of energy (including oil and gas, and geothermal) and water.
February 18, 2021, 6 AM MST
Obsidian Energy Ltd.’s 1P and 2P reserves climbed year-over-year, despite a challenging year.
February 18, 2021, 12 AM MST
Francesco Mele, chief operating officer at Azimuth Capital Management, resigned from Osum Oil Sands Corp.’s board of directors, effective Feb. 16, 2021.
February 18, 2021, 11:12 AM MST
February 18, 2021, 10:49 AM MST
February 18, 2021, 8:15 AM MST
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February 18, 2021, 7:38 AM MST
February 18, 2021, 8:05 AM MST
February 18, 2021, 8:10 AM MST
Indigenous suppliers play an increasingly important role in the oilsands, according to a Canadian Association of Petroleum Producers (CAPP) survey of producers. In 2019, companies spent about $2.4 billion on procurement from Indigenous businesses, which is up 16 per cent from 2018 and 53 per cent from 2017.
February 18, 2021, 3:45 PM MST
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