The transaction, which values Hammerhead Resources at CA$1.39 billion, is expected to form a publicly traded upstream oil and gas company with a path toward achieving net-zero emissions on a Scope 1 and Scope 2 basis by 2030.
Here’s a look at some of this week’s renewable energy news, including plans to seek lithium from soon-to-be abandoned oil wells in the Williston Basin.
Equinor establishes ambitious low-carbon goals for its deepwater Bay du Nord development in Atlantic Canada offshore Newfoundland.
The coming end of SPR oil releases by the Biden administration could shift market dynamics again in a year of high volatility following Russia’s invasion of Ukraine in February.
Natural gas spot prices in Alberta, Canada, were driven down due to rising production, TC Energy pipeline maintenance and some gas processing facility outages over the summer.
Here’s a snapshot of recent energy deals including EQT’s monster $5.2 billion acquisition plus the acquisition of NorTex Midstream by Williams in a $423 million transaction.
Tamarack Valley Energy said the acquisition of Deltastream Energy, which is backed by ARC Financial, solidifies its position as the largest producer in Alberta’s Clearwater oil play.
Tourmaline Oil, Canada’s largest gas producer, and Kelt Exploration temporarily shut-in significant gas volumes due to pipeline bottlenecks that led to a collapse in western Canadian gas prices.
Line 5 oil pipeline is allowed to continue to operate because of public and foreign policy implications.