It is the first full day of summer and traders south of the border returned to the markets after a long weekend selling off shares on their first day back.
Baytex Energy Stock made news after closing its acquisition of Ranger Oil Corp. for C$2.9 billion.
The acquisition materially increases the scale of its Eagle Ford operations. The company is adding 162,000 net acres in the crude oil window of the Eagle Ford, on-trend with Baytex’s non-operated position in the Karnes Trough, and 741 net undrilled locations, representing an inventory life of 12 to 15 years that immediately competes for capital in its portfolio.
Source: Baytex Energy Corp.
The transaction also increases Baytex’s exposure to premium U.S. Gulf Coast pricing and includes substantial infrastructure in place with low operating and transportation costs.
The Calgary-based energy company added that its average production for Q2 2023 is estimated at 88,500 to 89,000 boe/d, which includes production from Ranger for the 11 days following closing of the merger. Production in Q2 2023 was reduced by 4,500 boe/d because of the temporary curtailment of production resulting from the wildfires in Alberta.
Critical Elements Lithium Corp. (TSXV:CRE) reported results from the winter drill program completed on the Lemare Project in the James Bay region, Eeyou Istchee, Québec.
During winter 2023, the team completed a 5,554-metre drill program across 31 drillholes to test the known lithium bearing zone on the East-West extension, as well at depth.
Source: Critical Elements Lithium Corp.
Highlights:
- LE-23-32: 1.04 per cent Li2O and 67.91 ppm Ta2O5 over 33.85 m, including
- 1.42 per cent Li2O and 74.24 ppm Ta2O5 over 18.8 m
- LE-23-33: 0.88 per cent Li2O and 113.92 ppm Ta2O5 over 12.90 m
- LE-23-35: 1.63 per cent Li2O and 104.30 ppm Ta2O5 over 5.25 m
- LE-23-44: 1.51 per cent Li2O and 54.15 ppm Ta2O5 over 4.95 m
- LE-23-48: 0.89 per cent Li2O and 48.89 ppm Ta2O5 over 7.10 m
- LE-23-49: 0.97 per cent Li2O and 64.43 ppm Ta2O5 over 8.85 m, including
- 1.59 per cent Li2O and 61.34 ppm Ta2O5 over 2.40 m
Critical Elements controls one of the largest hard rock lithium exploration land positions in North America, totalling 1,050 square kilometres.
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The winter 2023 drilling program on the Lemare spodumene project confirmed the 400-metre extension to the southwest and the 500-metre extension to the northeast of the main known spodumene-bearing pegmatite with variable width and spodumene content.
The team intends to keep working on Lemare over the summer with surface mapping and a sampling program followed by incremental drilling.
Tilray Brands (TSX:TLRY) has launched Good Supply Beer, a new cannabis-free light beer brand.
Good Supply Beer is now available in 16-ounce cans at independent retailers across Georgia, Connecticut and New York, with additional distribution in Rhode Island and Massachusetts coming later this summer.
Source: Good Supply Beer.
The brand’s Easy Lager (4.2 per cent alcohol by volume) is crafted with high-grade pilsner malt and lightly hopped for a smooth, crisp and clean taste.
“With the wealth of brewing expertise that lives within Tilray’s beer division, like SweetWater Brewing, Montauk Brewing, and Alpine Beer, Good Supply is uniquely positioned to offer a competitively priced and delicious light beer crafted with premium ingredients and brewing techniques,” said Ty Gilmore, president, U.S. beer at Tilray Brands.
Good Supply Beer is a collaboration with Good Supply, a best-selling Canadian cannabis company.
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