Execution of strategy and growth delivered record operational and financial results in 2016All financial figures are in Canadian dollars unless noted otherwise. CALGARY, Feb. 23, 2017 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the fourth quarter of 2016. Financial Overview ($ millions, except where noted) 3 Months Ended December 31 [Read more]
Surge Energy Inc. announces 2016 year end reserves; new net asset value of $5.47 per share; and $3.74 per boe FD&A
CALGARY, Feb. 23, 2017 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") announced the results of its independent reserves evaluation (the "Sproule Report") effective December 31, 2016, as prepared by Sproule Associates Limited ("Sproule"). Surge is pleased to announce an increase in the Company's year-end 2016 net asset value ("NAV") of more than 12 percent per share over 2015, to $5.47 per share. The Company also reported that its 2016 capital program resulted in a finding, [Read more]
Canadian oil and gas companies reduce headcount by as much as 50% during downturn
Not all changes were made in a value-focused and sustainable way CALGARY, Feb. 23, 2017 /CNW/ - According to a new EY market study, completed in association with the University of Calgary's Haskayne School of Business, 81% of oil and gas companies that reduced headcount by between 25% and 30% during the downturn reported the highest level of reorganization success. "Our study results point to a clear relationship between greater headcount reductions and overall perceived success of [Read more]
Montana Exploration Corp. Announces US$20 Million Strategic Development Agreement for the Company’s Montana Oil and Gas Prospects
CALGARY, Feb. 23, 2017 /CNW/ - Montana Exploration Corp. ("Montana Exploration" or the "Company") (TSXV: MTZ) today announced that it has entered into an agreement (the "Farm-out Agreement") with a private US-based family office group (the "Farmee") pursuant to which the Farmee will fund up to US$20 million in drilling costs in the Company's Montana oil and gas prospects (the "Participation"). Farm-out Agreement Funds committed by the Farmee under the Farm-out Agreement will be applied [Read more]
Journey Energy Inc. Reports 2016 Reserves Highlighting a 44% Increase in Proved Developed Producing Net Asset Value Per Share
CALGARY, Feb. 22, 2017 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to report its year-end 2016 oil and gas reserves evaluation. During 2016, the Company invested approximately $16 million in exploration and development activities, and realized $9 million of net proceeds from acquisition and divestiture ("A&D") activities. A&D initiatives throughout the year included the disposition of non-core assets, consolidation of working interests in core [Read more]
IAMGOLD Reports Strong Operating Cash Flow, Up $276 Million (721%) in 2016
A Year of Achievements Sets the Stage for Growth All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Refer to the annual Management Discussion and Analysis (MD&A) and Audited ConsolidatedFinancial Statements as at December 31, 2016 for more information. TSX: IMG NYSE: IAG TORONTO, Feb. 22, 2017 /CNW/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") reported its consolidated financial and operating results for the quarter and year ended December 31, 2016. "We [Read more]
Tourmaline Oil Corp. Increases 2P Reserves 64% in 2016 to Reach 1.75 Billion Barrels of Oil Equivalent
CALGARY, Feb. 22, 2017 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") enjoyed another record year of material, profitable reserve additions with ever-improving efficiencies. HIGHLIGHTS Proved plus probable reserves ("2P") increased to 1,746.8 mmboe during 2016, a 58% increase over 2015 reserves of 1,108.3 mmboe and a 64% increase (34% per diluted share) before taking into account annual production of 68.0 mmboe. Total proved ("TP") reserves increased 44% and [Read more]
Keyera Announces Operational Outage at Alberta EnviroFuels
CALGARY, Feb. 21, 2017 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that its Alberta EnviroFuels facility ("AEF" or "the Facility") located in Edmonton, Alberta has been shut down for repairs following an operational issue that developed this past weekend. Upon initial investigation, Keyera identified a damaged piece of equipment that will require repair before operations can resume. While Keyera's repair strategy is intended to minimize the amount of downtime, AEF is currently [Read more]
Connacher Reports Year-End 2016 Reserves
CALGARY, Feb. 21, 2017 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its year-end reserves as of December 31, 2016, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), independent qualified reserves evaluators. Proved producing reserves increased by 7 million barrels (gross) to 14.7 million barrels (gross). The net present value of future net revenue before income taxes (discounted at ten per cent) ("10% PV") of the proved producing reserves increased to [Read more]
NEB staff on-site at Enbridge pipeline incident in Strathcona County, Alberta
CALGARY, Feb. 18, 2017 /CNW/ - The National Energy Board (NEB) is responding to an Enbridge Pipelines Ltd. incident that occurred on Friday, February 17, in an industrial area of Strathcona County, Alberta. The incident resulted in a contained release of oil condensate into an open excavation pit. The pipeline was shut in and containment and clean-up operations are ongoing. Enbridge has reported that approximately 200 cubic metres of oil condensate was released. There were no injuries, no [Read more]
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