The recent macro environment for the oil and gas sector remains strong and global supply challenges and continued demand recovery bode well for commodity prices in the short-to medium-terms, says Imperial Oil Limited CEO Brad Corson.
Russia’s invasion of Ukraine continues, and by all appearances it’s closer to a Zelensky stalemate than a quick Putin checkmate for reasons discussed in the first part of this series.
Imperial Oil Limited is now “very far down the path” of marketing unconventional assets, mostly in the Montney and Duvernay, with bids to be finalized prior to March’s end, says Brad Corson, president and chief executive officer.
Cheap wind and solar power, eventually backed by energy storage, offers the best route to net zero greenhouse gas emissions, the CEO behind Canada’s largest solar project told a Calgary Chamber of Commerce audience.
Projects to reduce the land footprint of seismic surveys and oilsands tailings ponds are two of 17 projects to receive federal funding this week.
Grandview Exploration Inc. (“Grandview” or the “Company”) has engaged Sayer Energy Advisors to assist it with a strategic alternatives process. Grandview would entertain offers for its working interests in the Rich area of Alberta (the “Property”) or offers for the shares of the Company. Grandview is a privately-held company with a small number of shareholders.
One of the most comprehensive industry events is taking place in March. With restrictions lifted, it’s an excellent time to reconnect in-person with industry peers and focus on learning and development.
The energy industry is adapting to standards that require a lower carbon intensity for both on and off-grid power. Amongst many solutions, hydrogen (H2) has emerged as a transitional option for both economic and environmental considerations.
Rubellite Energy Inc. announced Wednesday it has signed a letter of intent to pursue a farm-in and option agreement in the Peavine area, in the vicinity of recent industry Clearwater drilling activity and southwest of the company’s existing option acreage at West Dawson in northern Alberta.
Journey Energy Inc. has increased its 2022 capital budget to $43 million from $36 million and now plans to drill 15 wells.
Kelt Exploration Ltd. has increased its 2022 capital expenditure program to $250.0 million, up from a range of $200.0 million to $210.0 million in its previous guidance.
Essential Energy Services Ltd.’s 2022 capital budget is $6 million for the purchase of property and equipment and spending on maintenance activities.
Stronger commodity prices resulted in improved activity levels in the WCSB, allowing Source Energy Services Ltd. to set new daily and monthly sales records, add new customers and realize a 26 per cent increase in sales volumes over 2020, generating $258.5 million of sand revenue.
Bonterra Energy Corp.’s output averaged 12,747 boe/d in 2021, a 21 per cent increase over 2020.
In 2021, Surge Energy Inc. drilled a total of 48.0 net wells with a 100 per cent success rate, spending a total of $103.8 million for expenditures on property, plant, and equipment.
Saturn Oil & Gas Inc. has closed its previously announced bought deal offering and concurrent non-brokered private placement offerings.