CALGARY, July 31, 2019 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC" or the "Company") is pleased to report its second quarter 2019 financial and operational results. ARC's unaudited condensed interim consolidated financial statements and notes ("financial statements") and ARC's Management's Discussion and Analysis ("MD&A") as at and for the three and six months ended June 30, 2019 are available on ARC's website at www.arcresources.com and as filed on SEDAR at www.sedar.com. ARC achieved [Read more]
Archives for July 2019
Hillcore Group completes acquisition of Treeline Well Services Inc
Calgary, Alberta – Hillcore Group (Hillcore), is pleased to announce the acquisition of Treeline Well Services Inc. Founded in 1997 and headquartered in Calgary, Alberta, Treeline is a best-in-class provider of oil and gas well services to energy companies operating across Western Canada. Treeline operates a modern fleet of 23 new generation (post-2000) service rigs that includes 17 high hook load doubles. Treeline is currently the largest private service rig provider in Canada and is [Read more]
Athabasca Oil Corporation Announces 2019 Second Quarter Results
Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report continued strong financial performance with its second quarter results. With its resilient business model, the Company is well positioned to generate free cash flow in 2019 and beyond. 2019 Second Quarter Highlights Consolidated Quarterly Results Production of ~34,000 boe/d (85% liquids) Operating income of ~$82 million (excluding hedging) Adjusted funds flow of ~$48 million ($0.09/share) [Read more]
Tourmaline Realizes Strong Q2 Earnings and Continues to Focus on Free Cash Flow Generation
Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the second quarter of 2019. HIGHLIGHTS 1H 2019 production average was 286,955 boepd, including impact of Q2 gas storage injections and gas price-related program deferrals. With Gundy Phase 1 now onstream, the Company reconfirms full-year average production of 300,000 boepd (range 295,000-305,000 boepd) in conjunction with an accumulated $180.0 million of [Read more]
Senior American oil and gas producer Whiting Petroleum cuts 254 jobs
Oil and gas producer Whiting Petroleum on Wednesday reported a surprise quarterly loss, announced a 33% job cut and asset sales as a lack of natural gas infrastructure hits prices. Construction of new oil and gas pipelines in the United States has failed to keep pace with output, which has more than doubled over the past three years in the country that is now the world’s largest oil producer. Since gas cannot be stored in tanks or transported by truck or train, any excess has to either [Read more]
TORC Oil & Gas Ltd. Announces Second Quarter 2019 Financial & Operational Results
TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. The associated management's discussion and analysis ("MD&A") and unaudited interim financial statements as at and for the three and six months ended June 30, 2019 can be found at www.sedar.com and www.torcoil.com. Highlights Three months ended Six months ended (in thousands, [Read more]
U.S. natgas futures jump 4.5% from 3-year low on short covering, roll
U.S. natural gas futures rose 4.5% on Wednesday, recovering from a three-year low touched the previous day as investors covered short positions after prices held above technical support and as traders rolled over positions. On its second day as the front month, gas futures for September delivery on the New York Mercantile Exchange rose 9.6 cents to settle at $2.233 per million British thermal units. In the previous session the contract slipped to $2.107, its lowest since May [Read more]
PSAC Forecast update confirms low investor confidence in Canada
Today, the Petroleum Services Association of Canada (PSAC), in its third update to its 2019 Canadian Drilling Activity Forecast, announced that it is decreasing its forecasted number of wells to be drilled (rig released) across Canada for 2019 from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC based its updated 2019 Forecast on average natural gas prices of $1.60 CDN/Mcf (AECO), crude oil prices of US$57.00/barrel (WTI) and the Canada-US exchange rate averaging $0.76. On a provincial [Read more]
U.S. crude stocks slump 8.5 mln bbls in seventh straight weekly fall – EIA
U.S. crude oil stockpiles fell for the seventh straight week, falling to their lowest levels since November even as production rebounded and net imports increased, the Energy Information Administration said on Wednesday.Crude inventories fell 8.5 million barrels in the week ended July 26, far exceeding analysts' expectations for a decrease of 2.6 million barrels. At 436.5 million barrels, crude inventories, not including strategic oil reserves, were at the five year average for this time [Read more]
Painted Pony Announces Operational Update, Updated 2019 Capital Budget, Executive Changes, and Second Quarter Financial and Operating Results
CALGARY, July 31, 2019 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) announces an operations update, an updated 2019 capital budget, executive changes, and second quarter 2019 financial and operating results. HIGHLIGHTS: Invested $52 million of capital during the first half of 2019 which was $4 million less than first half 2019 adjusted funds flow from operations of $56 million; Delivered over 800 bbls/d of propane during the second quarter of 2019 [Read more]
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