BOE Report

Osum announces board resignation

CALGARY, AB - Osum Oil Sands Corp. ("Osum" or "the Company") announces that Mr. Francesco Mele, Chief Operating Officer at Azimuth Capital Management, resigned from the Company's Board of Directors on February 16, 2021. Osum would like to thank Mr. Mele for his contributions to the Company during his tenure. About Osum Established in Alberta in 2005, Osum Oil Sands Corp. is a private oil sands producer focused on the responsible application of in situ recovery technologies within [Read more]

Oil sands procurement from Indigenous suppliers increases to $2.4 billion

CALGARY, AB - A survey by the Canadian Association of Petroleum Producers (CAPP) of oil sands producers shows the increasing role of Indigenous suppliers to the industry. In 2019, about $2.4 billion was spent on procurement from Indigenous businesses; 16 per cent higher than in 2018 and 53% higher than in 2017. The number of Indigenous suppliers has also grown from 263 in 2017 to 275 in 2019, with cumulative procurement spending in the three-year period totalling about $5.9 billion. The oil [Read more]

Gear Energy Ltd. announces fourth quarter 2020 operating results and year-end reserves summary

CALGARY, AB - Gear Energy Ltd. ("Gear" or the "Company") (TSX: GXE) is pleased to provide the following fourth quarter operating update and reserves summary to shareholders. Gear's Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended December 31, 2020 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Twelve months [Read more]

Ovintiv Reports Fourth Quarter and Full-Year 2020 Results, Announces Multi-Year Debt Reduction Target, Signs Agreement to Sell Duvernay and Provides Strong 2021 Outlook

Year-end 2020 debt reduced nearly $500 million from mid-year 2020 2021 debt reduction target increased 25% to $1.25 billion including second half 2020 Multi-year debt target issued: $4.5 billion of total debt by year-end 2022 Company signs agreement to sell its Duvernay asset for $263 million Company generated significant non-GAAP Free Cash Flow for third consecutive year Strong well performance and realized prices combined with lower cash costs drive cash flow beat with [Read more]

Shell Sells Non-Core Canadian Shale Assets to Crescent Point Energy

CALGARY, AB, Feb. 17, 2021 /CNW/ - Royal Dutch Shell plc, through its affiliate Shell Canada Energy ("Shell"), has reached an agreement with publicly listed Canadian energy company Crescent Point Energy Corp. ("Crescent Point") to sell its Duvernay shale light oil position in Alberta, Canada for a total consideration of $707 million (C$900 million). The transaction has an effective date of January 1, 2021. The consideration is comprised of $550 million in cash and 50 million shares (valued [Read more]

Crescent Point announces accretive acquisition of Kaybob Duvernay assets for $900 million and enhanced free cash flow

CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce that it has entered into an agreement (the "Agreement") with Shell Canada Energy ("Shell"), an affiliate of Royal Dutch Shell plc, to acquire Shell's Kaybob Duvernay assets in Alberta (the "Assets") for $900 million (the "Acquisition"). The total consideration consists of $700 million in cash and 50 million common shares of Crescent Point. KEY HIGHLIGHTS  [Read more]

Crescent Point announces Q4 and year-end 2020 results conference call

CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) plans to report its fourth quarter and year-end 2020 financial and operating results and reserves via press release prior to the opening of markets on Wednesday, February 24, 2021. Crescent Point's management will hold a conference call at 10:00 a.m. MT (12:00 p.m. ET) the same day to discuss the Company's results and outlook. Participants can listen to this event online via webcast. [Read more]

E3 Metals adds seasoned oil and gas executive to the board

CALGARY, AB - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium extraction technology innovator, is pleased to announce the appointment of Mr. Kevin Stashin as an Independent Director to its Board, effective today. Mr. Stashin is an oil and gas executive with over 40 years of industry experience with both junior and major companies, including Devon Canada Corporation, Anderson Exploration, and [Read more]

Journey Energy Inc. announces revised closing date for Countess asset sale

CALGARY, AB - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") reports that it has today agreed to a further extension to the closing date for the previously announced disposition (see press release dated October 30, 2020) of its Countess area assets. In conjunction with this extension, Journey has also executed an amendment to its credit agreement with Alberta Investment Management Corporation to extend the maturity date of the $15 million tranche of term debt, to [Read more]

Bonterra Energy Corp. provides operations update and announces fully funded 2021 budget and guidance

CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today confirms that the Company's Board of Directors has approved a fully-funded 2021 capital budget of between $65 to $75 million, along with the associated guidance, and provides an operational update. Operational Update Through 2020, Bonterra invested approximately $44 million1 in capital projects, a substantial reduction from its original annual capital budget of $70 million, [Read more]