CALGARY - The head of Suncor Energy Inc. (TSX:SU) said Thursday that the company's focus on reliability and cost reduction is paying off in an era of ample oil supplies. "It's clear to us that the industry has moved from one of resource scarcity to one of resource abundance," said company CEO Steve Williams on an earnings conference call. He said oil companies can still thrive in the new reality, but the emphasis has to be on profits rather than simply growth. "This means [Read more]
Archives for October 2017
Petrolia Energy Announces Intent to Acquire Bow Energy
HOUSTON, TX--(Marketwired - October 26, 2017) - Petrolia Energy Corporation (OTCQB: BBLS) ("Petrolia" or the "Company") is pleased to announce the signing of a Letter of Intent ("LOI") to acquire 100% of Bow Energy Ltd. ("Bow") (TSX VENTURE: ONG). This LOI is non-binding and subject to various conditions, of which both parties have completed their accounting, technical, and legal due diligence, amongst others and have the approval of their respective Board of Directors. The parties have now [Read more]
Cenovus to hold conference call and webcast on third quarter 2017 results
CALGARY, Alberta, Oct. 26, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its third quarter 2017 results on Thursday, November 2, 2017. The news release will provide consolidated third quarter 2017 operating and financial information. Financial statements will be available on the company’s website, cenovus.com. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT (11 a.m. ET). To participate, please dial [Read more]
Canada’s energy regulator says demand for fossil fuels will max out in two years
OTTAWA - The National Energy Board says Canada's addiction to fossil fuels will peak in two years, but the change won't affect economic growth. For the first time, the board's annual energy futures report says that with climate change policies and growth in clean energy, Canada's consumption of fossil fuels to run cars and heat homes will max out in 2019, start to decline slightly and then flatline over the next two decades. "If you look at our forecasts for the last 10 years, [Read more]
Husky Energy Reports Third Quarter 2017 Results
CALGARY, Alberta, Oct. 26, 2017 (GLOBE NEWSWIRE) -- Husky (TSX:HSE) recorded funds from operations of $891 million in the third quarter, leading to free cash flow of $380 million. “The steps we have taken to transform the Company’s asset base continue to reduce our cost structure and increase funds from operations. Combined with strong Downstream performance, this is unlocking significant value and providing for ongoing investment in low cost production growth,” said CEO Rob Peabody. “Funds [Read more]
Alberta Energy Regulator OKs Suncor’s plan for managing tailings ponds
CALGARY - Alberta's energy regulator has approved an oilsands giant's plans to manage its vast tailings ponds despite ongoing concerns about their reliability. "(Opponents) raised concerns with the aquatic closure outcome and uncertainties with the proposed technology," Alberta Energy Regulator said in its decision on Suncor Energy's (TSX:SU) Millennium mine. "The (regulator) shares those concerns." While the regulator has added a series of reporting and monitoring requirements, [Read more]
Husky Energy reports $136M Q3 profit, trims capital spending guidance
CALGARY - Husky Energy Inc. (TSX:HSE) lowered its capital spending guidance as it reported a profit of $136 million in its latest quarter. The energy company says it has cut its capital spending guidance to $2.2 billion- to $2.3-billion due in part to cost efficiencies. The revised figures compared with expectations earlier this year that it would spend $2.5 billion- to 2.6-billion. Annual production is expected to remain within the 2017 guidance range of 320,000- to [Read more]
Net loss widens at Canada’s Crescent Point on forex losses, tax payment
Canadian oil and gas producer Crescent Point Energy Corp said on Thursday its third-quarter net loss more than doubled, driven by tax payments and foreign exchange losses. The company said net loss in the period was C$270.6 million ($211.3 million), or 50 Canadian cents per share, in the quarter ended Sept. 30, more than double the loss of C$108.5 million, or 21 Canadian cents, in the third quarter of 2016. Operating profit, which excludes most one-time items, was C$33.7 million, or 6 cents [Read more]
Husky Energy profit beats estimates on higher output, prices
Canadian oil and gas producer Husky Energy Inc on Thursday reported a better-than-expected quarterly profit, helped by higher production and realized prices, and cut its capital budget for the year. The company said it expects to spend C$2.2 billion to C$2.3 billion ($1.7 billion to $1.80 billion) this year, less than its previous estimate of C$2.5 billion to C$2.6 billion. Husky, like other Canadian oil sands companies, has been trying to cut costs to offset weak demand for its heavy crude [Read more]
Houston American Energy Updates Gas Sales Status, Including Commencement of Gas Sales From O’Brien #3H Well
HOUSTON, Oct. 26, 2017 /PRNewswire/ -- Houston American Energy Corp. (NYSE American: HUSA) today reported that its O'Brien #3H well (12.5% w.i.), a 4,575' lateral Upper Wolfcamp A well, in its southern Reeves County Riverbend project area, is now connected to a gas sales line enabling the sale of first production. During a previously announced test, conducted prior to completion of the gas flowline, the well produced 359 BO/D and 4,077 MCF/D (1,039 BOE/D). The well, now on line, is expected to [Read more]
- « Previous Page
- 1
- …
- 4
- 5
- 6
- 7
- 8
- …
- 32
- Next Page »