Petroleum

Forza Petroleum Q1 2021 Financial and Operational Results

Retrieved on: 
Thursday, May 6, 2021
Packaging, Oil storage, Tools, Containers, Barrel, Brewing, Petroleum

Increased revenue and collection of overdue receivables strengthen Forza Petroleum's financial outlook

Key Points: 
  • Gross (working interest) production and sales of oil in Q1 2021 were 675,400 barrels and 673,400 barrels, respectively, versus 842,000 barrels and 842,800 barrels, respectively, for Q1 2020.
  • The average oil sales price realized in Q1 2021 was $44.44 per barrel versus $34.03 for Q1 2020.
  • Operating expenses on a per barrel basis were flat in Q1 2021 versus Q1 2020 as operating efficiencies were offset by increased carry costs.
  • The Forza Petroleum Netback achieved in Q1 2021 was $21.26 per barrel.

Micromem Romgaz Update

Retrieved on: 
Thursday, May 6, 2021
Mediaș, Romgaz, Ploiești, Well drilling, Petroleum, Chemistry, Physical chemistry, Nature

b'Toronto, Ontario--(Newsfile Corp. - May 6, 2021) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem") ("the Company") reports that Romgaz has advised the Company that they have engaged the Petroleum-Gas University of Ploiesti, Romania (Universitatea Petrol-Gaze Din Ploiesti) to be the research arm for the tracer technology (the "Technology").

Key Points: 
  • b'Toronto, Ontario--(Newsfile Corp. - May 6, 2021) - Micromem Technologies Inc. (CSE: MRM) (OTCQB: MMTIF) ("Micromem") ("the Company") reports that Romgaz has advised the Company that they have engaged the Petroleum-Gas University of Ploiesti, Romania (Universitatea Petrol-Gaze Din Ploiesti) to be the research arm for the tracer technology (the "Technology").
  • The Technology is being developed by the Company in conjunction with Romgaz for installation on their site.
  • Lazar Avram, the Director of Well Drilling, Hydrocarbon Extraction and Transport Department and Prof. univ.
  • We undertake no obligation to publicly update or revise any forward-looking statements.

Canadian Natural Resources Limited Announces 2021 First Quarter Results

Retrieved on: 
Thursday, May 6, 2021
Units of measurement, Measurement, Liquids, Barrel of oil equivalent, Petroleum, Natural gas, Barrel

As a result, the financial position of Canadian Natural remains strong.

Key Points: 
  • As a result, the financial position of Canadian Natural remains strong.
  • As a leader in Carbon, Capture, Utilization and Storage ("CCUS"), Canadian Natural sees many opportunities for industry to advance investments in CCUS projects.
  • In addition, reference is made to crude oil and natural gas in common units called barrel of oil equivalent ("BOE").
  • When prompted, please record your name and company name.\nAn archive of the broadcast will be available until 6:00 p.m. Mountain Time, Thursday, May 20, 2021.

Global Vapor Recovery Unit Market Size, Share & Analysis Report 2021-2028: Processing, Storage, Transportation, And Railcar Loading - ResearchAndMarkets.com

Retrieved on: 
Wednesday, May 5, 2021
Other Manufacturing, Manufacturing, Physical sciences, Chemistry, Petroleum, Chemical plant, Recovery

These are major factors expected to drive market growth to a significant extent.\nThese units are installed in various industries for applications in petroleum distribution terminals, chemical and petrochemical plants, and crude-oil tanks, among various others.

Key Points: 
  • These are major factors expected to drive market growth to a significant extent.\nThese units are installed in various industries for applications in petroleum distribution terminals, chemical and petrochemical plants, and crude-oil tanks, among various others.
  • Recovery units are used for process of compressing and recovering vapors released while petroleum filtration process.
  • The US market is expected to contribute the largest revenue share to the North America market.\nCompanies profiled in the market report include HY-BON/EDI, PSG Dover, AEREON, Petrogas Systems, John Zink Company, LLC, Cimarron Energy Inc., Wintek Corporation, Accel Compression Inc., and Whirlwind Methane Recovery Systems, LLC.
  • The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.\n'

Suncor Energy reports voting results from Annual Meeting

Retrieved on: 
Tuesday, May 4, 2021
S&P/TSX 60, Suncor Energy, Sunoco LP, Petroleum, Petro-Canada, Companies, Economy of Canada, Oil sands

Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand.

Key Points: 
  • Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand.
  • A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio.
  • Suncor is listed on the UN Global Compact 100 stock index.
  • Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.\nFor more information about Suncor, visit our web site at suncor.com , follow us on Twitter @Suncor or Living our Purpose .\n"

Africa Oilfield Services Market Growth, Trends, and Forecast Report 2020-2025: Nigeria is Expected to Dominate the Market, Owing to the Increased Exploration Activity - ResearchAndMarkets.com

Retrieved on: 
Tuesday, May 4, 2021
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Companies, Petroleum, Baker Hughes, Weatherford International, Oil well, Physical sciences, Chemistry

b'The "Africa Oilfield Services Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com\'s offering.\nFactors such as increasing exploration and production activities due to increasing crude oil and natural gas demand are likely to drive the Africa oilfield services market during the forecast period.

Key Points: 
  • b'The "Africa Oilfield Services Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com\'s offering.\nFactors such as increasing exploration and production activities due to increasing crude oil and natural gas demand are likely to drive the Africa oilfield services market during the forecast period.
  • However, volatile oil and gas prices are leading to the uncertainty among oil and gas operators, which is likely to restrain the growth of the Africa oilfield services market in the coming years.\nThe drilling services segment is expected to lead the market for oilfields services, reasons being an increase in exploration activities and oil discoveries in recent years.
  • Both factors have led to a growth in demand for oilfield services market.\nNigeria is expected to dominate in the region in the forecast period, the increased pressure on oil & gas companies to discover new oil and gas reserves to compensate for reducing hydrocarbon production from existing and aging fields is expected to drive the market.\nThe Africa oilfield services market is partially fragmented with several small and big players operating in the market.
  • Some of the key players in this market include Schlumberger Limited, Petrofac Ltd., Weatherford International Plc, Baker Hughes Company, Halliburton Company, among others.\n'

i-80 Gold Commences Large-Scale Drill Program at Getchell

Retrieved on: 
Tuesday, May 4, 2021
Getchell, Drilling rig, Mining, Petroleum

The resources at Getchell include 1.464 Million ounces of gold in the Measured and Indicated category and 0.646 Million ounces in the Inferred category.\nThe primary goal of the 2021 drill program is to advance the Pinson underground and open pit opportunities to production.

Key Points: 
  • The resources at Getchell include 1.464 Million ounces of gold in the Measured and Indicated category and 0.646 Million ounces in the Inferred category.\nThe primary goal of the 2021 drill program is to advance the Pinson underground and open pit opportunities to production.
  • Two underground drill rigs will be mobilized, once underground platforms are upgraded, focused on delineating sufficient resources for near-term development.
  • Initial surface drilling will test near-surface mineralization for metallurgical purposes and open pit definition.
  • "\nThe Getchell Project represents one of i-80\'s three core land holdings in Nevada and is host to both open pit and underground resources.

Suncor Energy reports first quarter 2021 results

Retrieved on: 
Tuesday, May 4, 2021
Petroleum, Physical sciences, Petroleum industry, Chemistry, Bituminous sands, Petroleum geology, Fort McMurray, Inventory, Oil sands, Syncrude, Asphalt, FIFO

Funds from operations included a first-in, first-out (FIFO) inventory valuation gain of $373 million after-tax in the first quarter of 2021, compared to a FIFO inventory valuation loss of $446 million after-tax in the prior year quarter.

Key Points: 
  • Funds from operations included a first-in, first-out (FIFO) inventory valuation gain of $373 million after-tax in the first quarter of 2021, compared to a FIFO inventory valuation loss of $446 million after-tax in the prior year quarter.
  • The Syncrude and Oil Sands operations upgraders achieved combined upgrader utilization of 97% in the first quarter of 2021, compared to 93% in the prior year quarter, despite coker annual planned maintenance at Oil Sands Base that commenced late in the first quarter of 2021 and was completed subsequent to the end of the quarter.
  • Operating, selling and general expenses in the first quarter of 2021 included share-based compensation expense, compared to a share-based compensation recovery in the prior year quarter.
  • As demonstrated this quarter, the company continues to execute on its previously announced 2021 commitment of allocating incremental free funds flow towards debt and share buybacks.

Antler Gold Drills Multiple Shallow Intercepts of Gold, Silver and Copper on Central Erongo Project, Central Namibia and Provides Exploration Update

Retrieved on: 
Monday, May 3, 2021
Drilling rig, Petroleum engineering, Petroleum geology, Anomaly, Petroleum

The objective of the program was to delineate drill targets at depth along strike of the historically defined 1.5 kilometres Hakskeen skarniferous zone.

Key Points: 
  • The objective of the program was to delineate drill targets at depth along strike of the historically defined 1.5 kilometres Hakskeen skarniferous zone.
  • The historical gold-in-soil anomaly is spatially coincident with this IP anomaly and the shallow (30 metres deep) historical RC drilling intersected narrow anomalous gold zones.
  • The interpretation of soil sampling results at W3 show gold results to be highly variable with limited gold-in-soil anomalies being identified.
  • Antler is currently focusing its efforts on advancing its Erongo Gold Project, which is located approximately 130 kilometres north-west of Namibia\'s capital city Windhoek.

Analyzing COVID-19 Impact on Offshore Drilling Market | $ 7.04 Bn Growth Expected Between 2021-2025 | Technavio

Retrieved on: 
Friday, April 30, 2021
Petroleum geology, Petroleum production, Petroleum industry, Petroleum, Offshore drilling, Oil platform, Oil well, Drilling rig, Offshore

However, fluctuations in the price of crude oil might hamper the market growth.\nBased on the application, the market witnessed maximum growth in the shallow water offshore drilling segment.

Key Points: 
  • However, fluctuations in the price of crude oil might hamper the market growth.\nBased on the application, the market witnessed maximum growth in the shallow water offshore drilling segment.
  • The market growth in the segment will be significant during the forecast period.\nBy geography, APAC is going to have lucrative growth during the forecast period.
  • Therising number of offshore drilling projects will be crucial in driving the growth of the offshore drilling market in APAC.\nBuy 1 Technavio report and get the second for 50% off.
  • Buy 2 Technavio reports and get the third for free.\nRelated Reports on Energy Include:\nGlobalOffshore Drilling Rigs Market- Global offshore drilling rigs market is segmented bytype (Bottom-supported rigs and Floating rigs) and geography (APAC, MEA, North America, Europe, and South America).\n"