Encana Corp will shift base to the United States and become Ovintiv Inc, the Canadian oil and gas producer said on Thursday, as Canada faces pipeline capacity shortages that have led many companies to move from the country's energy sector.Rivals Royal Dutch Shell , ConocoPhillips and Suncor Energy have either been selling their Canadian assets or have scaled back investments as pipeline space crunch impacts prices.Encana meanwhile has been adding assets in the United States and [Read more]
Archives for October 2019
Alberta eases oil curtailment rules for additional crude by rail
The Canadian province of Alberta said on Thursday it would allow companies to produce additional oil if they move it by rail, easing curtailment rules that were designed to reduce transport bottlenecks. The special production allowance takes effect in December, Energy Minister Sonya Savage said in a statement. "The special allowance program will protect the value of our oil by ensuring that operators are only producing what they are able to move to market," Savage said. Major producers, [Read more]
Shell down 4% after warning of slowing global economy
** Oil major Shell slumps nearly 4% to 22.4 pounds as a profit beat was dampened by co flagging global economic slowdown** Q3 profit of $4.8 bln topped estimates of $3.91 bln ** "Weak macroeconomic conditions" and "challenging outlook" create uncertainty about co's buyback time frame - CEO Ben van Beurden says** If losses hold, Shell to turn negative for the year vs. the FTSE 100's +8% YTD ** By 1110 GMT, Shell shares made up for nearly half of the FTSE [Read more]
Oil prices face pressure as global economy slows
Oil prices are likely to be pressured this year and next as low demand from a slowing global economy and a surge in U.S. shale output offset support from OPEC production cuts and Middle East supply risks, a Reuters survey shows. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. This is compared to the previous month's $65.19 projection for 2019 and $63.56 for 2020, and an average oil price so far this year of $64.23. The [Read more]
Whitecap Resources Inc. Announces Third Quarter 2019 Results and 2020 Budget
CALGARY, Oct. 31, 2019 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to report its operating and unaudited financial results for the three and nine months ended September 30, 2019. Selected financial and operating information is outlined below and should be read with Whitecap's unaudited interim consolidated financial statements and related Management's Discussion and Analysis ("MD&A") which are available at www.sedar.com and on our website at [Read more]
Torchlight Energy Achieves New Horizontal Well Results and Drills New Vertical Test Well in The Orogrande Basin Project
PLANO, TX / ACCESSWIRE / October 31, 2019 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today announced that in concert with ongoing efforts to identify, provide scientific data and enter an agreement with potential suitors for development of the sizable Orogrande Basin Project development, the Company has completed the drilling of the Cactus A35 1H lateral with partner Maverick Operating and is underway on drilling a new vertical test well, the Founders A25 [Read more]
Vermilion Energy reports Q3 loss, trims capital spending and production guidance
Vermilion Energy Inc. reported a loss of $10.2 million in its latest quarter as it trimmed its capital spending plans for the year and reduced its production expectations. The Calgary-based company says the loss amounted to seven cents per share for the quarter ended Sept. 30 compared with a loss of $15.1 million or 10 cents per share a year ago. Petroleum and natural gas sales fell to $391.9 million compared with $508.4 million in the same quarter last year, while fund flows from [Read more]
Encana Reports 2019 Third Quarter Financial and Operating Results
Company continues to generate significant free cash flow through capital discipline and strong operational performance Third quarter 2019 highlights: Financial performance driven by strong liquids production and cost focus. Net earnings of $149 million, or $0.11/share, with non-GAAP operating earnings of $195 million, or $0.15/share. Cash from operating activities of $756 million with non-GAAP cash flow of $817 million. Non-GAAP free cash flow of $251 million.Raised 2019 production outlook [Read more]
Crescent Point Announces Q3 2019 Results
CALGARY, Oct. 31, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the quarter ended September 30, 2019. KEY HIGHLIGHTS Executed approximately $950 million of dispositions year-to-date 2019 and continue to work toward finalizing the monetization of certain gas infrastructure assets in Saskatchewan.Estimated net debt reduction of over $1.2 billion in 2019, driven by excess cash flow and [Read more]
Crescent Point Confirms Quarterly Dividend
CALGARY, Oct. 31, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point") (TSX and NYSE: CPG) announces its Board of Directors has declared a quarterly cash dividend of CDN $0.01 per share to be paid on January 2, 2020 for shareholders of record on December 15, 2019. These dividends are designated as "eligible dividends" for Canadian income tax purposes. For U.S. income tax purposes, Crescent Point's dividends are considered "qualified dividends." Crescent Point is a leading North [Read more]
- « Previous Page
- 1
- 2
- 3
- 4
- …
- 23
- Next Page »