Oilsands execs say they can’t invest in decarbonization any faster, despite profits

Oilsands execs say they can’t invest in decarbonization any faster, despite profits

Oilsands executives insist they are all in on cutting emissions and will make big investments in green technology, but they maintain there isn’t a place to invest that money yet.

Many companies are coming off a year of windfall profits not because they pumped out more product, but because the war in Ukraine and global supply chain crunches pushed world oil prices way up.

Carbon capture, utilization and storage summit added to Williston Basin Petroleum Conference

Carbon capture, utilization and storage summit added to Williston Basin Petroleum Conference

REGINA – This spring’s Williston Basin Petroleum Conference has a new addition, with the Saskatchewan CCUS Summit. It comes at a time when interest is gathering steam.

CCUS stands for carbon capture, utilization and storage, and after literal decades of being implemented in Saskatchewan via the Weyburn and Midale Units, as well as Aquistore, the rest of the world is waking up to its promise.

ROK Resources closes southeast Saskatchewan deal, provides guidance for first half

ROK Resources closes southeast Saskatchewan deal, provides guidance for first half

On Jan. 24, ROK Resources of Regina announced that they had closed on land swap deal that had been announced on Dec. 19, 2022.

That announcement on Dec. 19 indicated that they were doing both an acquisition and a disposition with another company. In what is largely a land swap, they were acquiring 1,400 boepd production (69 per cent liquids) in southeast Saskatchewan, but selling 475 boepd (100 per cent liquids) of mostly non-operated properties in southwest Saskatchewan to the same company they were buying land from in the southeast. ROK was paying $26.5 million to the other party as part of the deal.

Saturn Oil & Gas acquires Ridgeback Resources in a deal that will be rockin’ in the Bakken

Saturn Oil & Gas acquires Ridgeback Resources in a deal that will be rockin’ in the Bakken

CALGARY – Saturn Oil & Gas Ltd. is continuing an exponential growth pattern through acquisitions.

At the close of the markets on Friday, Jan. 20, Saturn announced it was acquiring Ridgeback Resources Inc., one of the largest players in the Saskatchewan Bakken and Mississippian plays, which also has significant operations in three areas of Alberta. The deal is for $525 million.

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