Day: February 26, 2024

Cat Lake First Nation has launched legal action to halt construction of an 18-km access road crucial to First Mining Gold’s (TSX: […]
The post Legal battle looms amid Cat Lake Nation, First Mining road dispute appeared first on Canadian Min…

CALGARY, AB, Feb. 26, 2024 /CNW/ – Spartan Delta Corp. (“Spartan” or the “Company“) (TSX: SDE) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2023, highlights of the Company’s year-end reserv…

There is no practical impediment to Iraq becoming a world-leading exporter of petrochemicals, given its huge oil and gas resources. It holds an estimated 145 billion barrels of proven crude oil reserves – around 9 percent of world’s total – although th…

Natural gas futures rebounded on Monday, bolstered by lower production readings and trader positioning ahead of the front-month contract’s expiration. At A Glance: NGI models 84 Bcf draw  Production at 103 Bcf/d Weather demand evades Coming off back-to-back losses to close out the prior week, the March Nymex gas futures contract settled at $1.659/MMBtu, up…

The post March Natural Gas Futures Rally as Production Dips, Expiry Looms; Spot Prices Slip appeared first on Natural Gas Intelligence

FREDERICTON — The president of Irving Oil is stepping down as the company undergoes a strategic review that includes the possible sale of the business.
A news release Monday said Ian Whitcomb has made a “personal decision” to leave after more than ei…

CALGARY — New data from the Canada Energy Regulator shows Canadian crude-by-rail shipments nearly doubled in volume in the last six months of 2023.
Oil-by-rail export volumes jumped from 78,747 barrels per day in May of last year to 157,142 in Decemb…

The European Commission proposed on Tuesday that EU member states continue taking voluntary measures to maintain a collective 15% gas demand reduction compared to the five-year average to March 2022, as the bloc looks to continue stabilizing its energy…

Tennessee-based midstream energy master limited partnership Delek Logistics reported on Tuesday revenues and earnings per share for the fourth quarter that missed consensus estimates, due to higher interest expense and a goodwill impairment. Delek Logi…

Iran is eager to build on its longstanding alliance with Syria, but Tehran’s achievements in expanding its influence in the Arab country are threatening one of its primary objectives: staying out of the line of fire in its shadow wars in the Middle Eas…

Natural gas production in Mexico averaged 4.07 Bcf/d in January 2024, down from 4.25 Bcf/d in January 2023 and marking a fourth straight sequential decline.  State oil company Petróleos Mexicanos (Pemex) supplied 3.86 Bcf/d of the total, compared to 4.03 Bcf/d a year earlier, according to the latest data from upstream regulator Comisión Nacional de…

The post Mexico Natural Gas Production Dips for Fourth Straight Month Amid Pemex Financial Woes appeared first on Natural Gas Intelligence

An Adelaide, Australia-based space technology company is revolutionizing mineral exploration by delivering 3D subsurface models in days, dramatically accelerating the acquisition and […]
The post JV Article: Spacetech – A paradigm shift in …

Fury Gold Mines (TSX, NYSE: FURY) announced Monday that the company and affiliates of Newmont (NYSE: NEM, TSE: NGT) have entered into […]
The post Fury Gold Mines buys Newmont’s 50% stake in Éléonore South project in Quebec appeared first on Cana…

Natural gas futures retreat from early highs as market continues monitoring signs of production decline Expiring March Nymex contract trading at $1.656 as of 2:28 p.m. ET, up 5.3 cents day/day but off from $1.730 high Bloomberg estimates put domestic production at 102.5 Bcf/d for Monday; Wood Mackenzie’s estimate at 102.9 Bcf/d Per Gelber &…

The post Natural Gas Futures Head for Positive Session But Fall from Morning Highs — MidDay Market Snapshot appeared first on Natural Gas Intelligence

General Motors Co.’s Cruise autonomous driving unit is preparing to resume robotaxi testing with safety drivers in Houston and Dallas metro areas in the coming weeks, following the nationwide grounding after one of its robotaxis ran over a pedestrian i…

Patriot Battery Metals (TSX: PMET; ASX: PMT; OTCQB: PMETF) continues to intersect spodumene in the CV13 pegmatite at its wholly owned Corvette […]
The post Patriot assays 2.57% lithium oxide over 7.2 metres at Corvette project in Quebec appeared …

Premium Nickel Resources (TSXV: PNRL; OTCQX: PNRLF) released more results from its past-producing Selebi nickel-copper-cobalt underground mine in Botswana. The most recent […]
The post Premium Nickel drills 111 metres of 2.56% nickel equivalent a…

Metallic Minerals (TSXV: MMG; OTCQB: MMNGF) has released its first resource estimate for its 100%-owned, high-grade Keno silver project in the Yukon. […]
The post Metallic Minerals calculates 18M silver equivalent oz. in Keno project in Yukon app…

Denison Mines (TSX: DML; NYSE: DNN)  has completed an acquisition of fixed and mobile MaxPERF tool systems from Penetrators Canada. Significantly, Penetrators […]
The post Denison steps up ISR game with acquisition of MaxPERF tool systems ap…

Speaking at the recent International Society of Explosives Engineers in Savannah, Georgia, last month, D. Scott Scovira, global manager of blasting science […]
The post BME’s solution to Anfo: hydrogen peroxide emulsions appeared first on Canadia…

A first electric coach service will be launched in England and Wales, as part of a three month trial led by the travel tech firm FlixBus. Travellers will be able to try out routes between London, Bristol and Newport in South Wales from June 2024. Ticke…

Withdrawal of government support, lower natural gas prices, and high interest rates led to the first annual drop in European sales of heat pumps in a decade, data from the European Heat Pump Association showed on Tuesday. In 14 European counties, heat …

Click here to listen to the latest episode of NGI’s Hub and Flow, in which NGI’s Pat Rau, director of strategy and research, delves into Wall Street’s expectations for North American natural gas activity and prices over the next few years.  Rau also reads market tea leaves from recent oilfield service providers’ 4Q2023 earnings calls,…

The post What Do Recent Earnings Calls and Consensus Forecast for Natural Gas in 2024? – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

Via Metal Miner The world may have come to expect near-perfection from Elon Musk and his products, resulting in the slightest problem with any of them getting amplified in the media. Nonetheless, the latest U.S. steel news has not been kind to Tesla’s …

Woodside Energy expects demand for liquefied natural gas to increase by 50% over the next ten years driven by Asia, Bloomberg has reported, citing chief executive Meg O’Neill. “We’re seeing signs of that demand growth in emerging Asia,” O’Neill told th…

Qatar on Sunday advanced plans to increase the country’s LNG production capacity by 85% from current levels, upping a bet that more natural gas will be needed as progress at other liquefaction projects appears to slow. CEO Saad Sherida Al-Kaabi, of state-owned QatarEnergy, said an appraisal program had determined that the productive layers of the…

The post Qatar Takes Another Leap to Expand North Field Project, Boost LNG Output by 85% appeared first on Natural Gas Intelligence

As the war rages on in Gaza, Israel has reported that its gas supplies to Egypt and Jordan soared by 25% last year, despite the temporary halt of one of Israel’s offshore gas fields due to the conflict in October.  On Monday, Israel not only said that …

More than a decade in the making, the $30-billion project could be a game-changer for Canadian oil Author of the article: Naimul Karim See This Article and More Energy Articles in the Financial Post The Trans Mountain pipeline expansion project may sti…

U.S. benchmark WTI oil prices gained over 2% on Monday amid the ongoing Red Sea shipping threat and European diesel demand before retracing some of those gains as Wall Street tried to digest inflation data.  Limited U.S. refinery output due to planned …

South Africa’s energy and chemicals firm Sasol booked a 34% decline in its core earnings for the second half of 2023 due to lower crude oil and petrochemicals prices.   Sasol reported on Monday core headline earnings per share (HEPS) of $0.95 (18.39 So…

Qatar could squeeze out rival LNG supply, including from the current top exporter, the United States, and could end up controlling 25% of the global LNG supply by 2030 after it announced a new major expansion project days ago, analysts told Reuters. On…

Commentary By John Kemp LONDON, Feb 26 (Reuters) – Portfolio investors have become extremely bearish about the outlook for U.S. gas prices, even though prices have already fallen to their lowest level in real terms since futures began trading in …

Jera Co. Inc., one of the world’s largest LNG buyers, has secured a 15.1% stake in Woodside Energy Group Ltd.’s Scarborough project as it continues to look for stable long-term supply for Japanese power production. Under the transaction, valued at $1.4 billion, Jera would obtain a non-operating interest in the Scarborough partnership and offtake an…

The post Jera Inks Equity, Offtake Agreements for Woodside’s Scarborough LNG Project appeared first on Natural Gas Intelligence

Legacy Minerals (ASX: LGM) says it’s deployed artificial intelligence software to discover platinum group elements (PGE) and nickel-copper-iron sulphides on the Fontenoy […]
The post Legacy uses AI to discover platinum in Australia appeared first…

More than a decade in the making, the $30-billion project could be a game-changer for Canadian oil

Figure 1. A long-section view of the sulfide zone (looking east). As indicated, the resource is open to the north, south (subject to a cross-cutting fault), and southwest. Source: Western Alaska Minerals Western Alaska Minerals (TSXV:WAM) has announced an initial mineral resource estimate for the Waterpump Creek Zone at its 100% owned Illinois Creek project […]

The post Western Alaska Minerals (TSXV:WAM) Releases Maiden Resource Estimate for Illinois Creek Project appeared first on MiningFeeds.

Big Oil and its allegedly exclusive role in bringing about apocalyptic climate change has been the ultimate villain in the eyes of climate activists. Calls for a forceful death of the industry have become the norm, and protests against oil and gas prod…

Hamstrung by a growing surplus of natural gas in inventories and with a spring-like February running into a mild March, traders tugged natural gas prices lower for March baseload delivery, according to NGI’s Bidweek Alert (BWA). Losses were largest in the West, where California’s SoCal Citygate traded about $2.20 lower month/month at around $3.170/MMBtu, BWA…

The post March Bidweek Trading Starts on Downslope as Weather Seen Driving Wider Storage Surplus appeared first on Natural Gas Intelligence

India has raised by 5% its previous projection for peak electricity demand in the financial year 2031-2032, due to surging demand last year that outpaced the government’s forecasts, sources with knowledge of the latest forecast told Bloomberg on Monday…

Russia will suspend gasoline exports for six months beginning in March to ensure supply for the domestic market in peak demand season. The information comes from an unnamed source close to the government who spoke to business daily RBC. The report reca…

India has raised by 5% its previous projection for peak electricity demand in the financial year 2031-2032, due to surging demand last year that outpaced the government’s forecasts, sources with knowledge of the latest forecast told Bloomberg on Monday…

Guyanese officials have played down any threats to foreign investment while talking up the possibility of developing the country’s natural gas resources. At the Guyana Energy Conference and Supply Chain Expo last week, Vice President Bharrat Jagdeo told the audience, “I want to assure you that your investments will be safe.” The reassurances come amid…

The post Guyana Government Calls Oil, Natural Gas Investments ‘Safe’ Amid Venezuela Saber-Rattling appeared first on Natural Gas Intelligence

Azerbaijani Energy Minister Parviz Shahbazov visited Washington on February 20-21. He held meetings with senior U.S. officials and secured an agreement that could be a significant step towards boosting Azerbaijani gas exports to Europe.  The sides “agr…

Czech gas consumption fell last year to its lowest levels since 1992, decreasing more than 10% as customers cut back further amid a savings drive since Russia’s invasion of Ukraine, the country’s Energy Regulatory Office (ERU) said on Monday.

Achieved record Q4 Adjusted EBITDA1 of $162 million ($0.56/basic share1) and $590 million Adjusted EBITDA in 2023 ($1.99/basic share) Delivered $0.95/basic share1 in shareholder returns through dividends and share repurchases in 2023 Repurchased 3.5% o…

Calgary, Alberta–(Newsfile Corp. – February 26, 2024) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) today announced that we have commenced an offer (the “Offer“) to purchase for cash, up …

Rene Amirault to retire as Chief Executive Officer effective May 1, 2024 Allen Gransch, President, to be appointed his successor CALGARY, AB, Feb. 26, 2024 /CNW/ – SECURE Energy Services Inc. (“SECURE” or “the Corporation”) announced today that Rene Am…

Q4 2023 Operational and Financial Update EASTLEIGH, UK / ACCESSWIRE / February 26, 2024 /i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following Q4 2023 …

Appalachian Basin pure play Range Resources Corp. is targeting flat production growth in 2024 with a focus on natural gas liquids (NGL) to offset weak natural gas pricing, management said Thursday. “Near-term prices are obviously incredibly challenging for the industry, and we expect these historically low price levels should help keep a lid on natural…

The post Marcellus-Focused Range Resources Eyeing Flat Natural Gas Output Amid ‘Incredibly Challenging’ Prices appeared first on Natural Gas Intelligence

With heightened volatility expected heading into the front month expiration this week, and amid hints of weaker production in recent estimates, natural gas futures rallied sharply in early trading Monday. After selling off 12.9 cents on Friday, the March Nymex contract was up 10.0 cents to $1.703/MMBtu at around 8:45 a.m. ET. April was up…

The post Natural Gas Futures Rally Early as Volatility Expected into Expiry; Production Weaker appeared first on Natural Gas Intelligence

Denmark has dropped its investigation into the explosions in 2022 on the Nord Stream pipelines carrying Russian gas to Germany, police said on Monday, becoming the second nation to do so after Sweden closed its own inquiry.

CALGARY, Alberta, Feb. 26, 2024 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is …

Summary Likelihood of imminent U.S. interest rate cut fades Talks on Gaza-Israel ceasefire appear to progress Goldman Sachs predicts summer peak oil price at $87 a barrel (Reuters) – Oil prices fell on Monday, extending losses on market views tha…

The window to finalize vehicle and power plant regulations so they’re less vulnerable to Republican repeal will close before the summer.  Across the nation’s capital, federal regulators are in an all-out sprint, racing to finalize Biden administration …

Decision follows similar move in Sweden earlier this month Authorities had concluded ‘deliberate sabotage’ took place Denmark gave up on an investigation into the explosions that in 2022 ruptured the Nord Stream natural gas pipelines just outside its t…

Producer is planning major capacity expansion by end of decade Nation is looking to secure more deals in Asia and Europe LNG exports are Qatar’s biggest revenue earner. Qatar is seeking more gas deals in Europe and Asia in a bet demand will continue to…

Goldman Sachs raised its summer 2024 Brent peak forecast by $2 a barrel to $87 as disruptions in the Red Sea contribute to modestly larger-than-expected draws in OECD commercial stocks, the bank said in a note dated Sunday. “OECD commercial stocks on l…

 As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their …

The first gas from the project is expected in 2025. [Image: BP]

CALGARY, Alberta, Feb. 26, 2024 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac”) (TSX:CFW) intends to release its 2023 fourth quarter results before the market opens on Thursday, March 14, 2024, and has scheduled a conference call to begin at …

After several years of recovery, a recent forecast from Baker Hughes predicted a single digit slow down for 2024 in Oil Field Services spending in North America. OFS companies will likely face increasing price pressures which will place even more focus…