Heavy discount widens as global oil prices rise

Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Tuesday as global oil prices rose. Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $7.75 per barrel below WTI, according to NE2 Canada Inc, wider than Monday’s settle of $6.80 under. Data showed oil [Read more]

Source: BOE Report

COVID-19 Fuels Fire Sale Of Oil & Gas Assets

Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, Rystad Energy estimates.  While some of these planned divestments were announced before the Covid-19-related oil price crash, more were added in reaction to the pandemic and its aftermath. ...

Source: Oilprice.com

Construction Of Controversial Pipeline Begins In British Columbia

The construction of a stretch of the expanded Trans Mountain oil pipeline has started in British Columbia, the province whose government has been vocally opposed to the project. The Trans Mountain company said in a statement that work had begun on a seven-kilometer section in the City of Kamloops, to continue about seven months. The company also said investment in ...

Source: Oilprice.com

Oil Prices Spike On Hopes Of OPEC+ Deal Extension

Oil prices rose early on Tuesday as market participants hope that the OPEC+ group may decide in the coming days to roll over for a month or two the current level of production cuts beyond June to support last month’s price rally.   As of 10:33 a.m. EDT on Tuesday, WTI Crude was up 2.26 percent at $36....

Source: Oilprice.com

Birchcliff Energy Ltd. announces declaration of quarterly common share and preferred share dividends

CALGARY, Alberta – Birchcliff Energy Ltd. (“Birchcliff”) (TSX: BIR) is pleased to announce that its board of directors has declared the following quarterly cash dividends for the quarter ending June 30, 2020: Shares TSX Stock Symbol Dividend per Share Common Shares BIR $0.005 Cumulative Redeemable Preferred Shares, Series A BIR.PR.A $0.523375 Cumulative Redeemable Preferred Shares, [Read more]

Source: BOE Report