BOE Report

TC Energy establishes at-the-market equity program

CALGARY, Alberta – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or Company) today announced that it has established an at-the-market equity program (ATM Program) that allows the Company to issue common shares from treasury (Common Shares) having an aggregate gross sales price of up to $1.0 billion, or its U.S. dollar equivalent, to the public from time to time, at the Company’s discretion, at the prevailing market price when sold through the Toronto Stock Exchange (TSX), the New York Stock [Read more]

PrairieSky Royalty declares quarterly dividend

CALGARY, Alberta - PrairieSky Royalty Ltd. (“PrairieSky”) (TSX:PSK) announced today that its Board of Directors has declared a quarterly dividend of CDN $0.06 per common share, payable in cash on January 15, 2021 to shareholders of record on December 31, 2020.   This dividend is designated as an “eligible dividend” for Canadian income tax purposes. About PrairieSky Royalty Ltd. PrairieSky is a royalty-focused company, generating royalty revenues as petroleum and natural gas are produced from [Read more]

Gibson Energy announces 2021 capital budget

All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta - Gibson Energy Inc. announced today its outlook for growth capital expenditures in 2021 of up to $200 million. Projects currently sanctioned by the Board of Directors, or with strong line of sight thereto, comprise approximately two-thirds of that figure. Additionally, the Board of Directors has approved the allocation of between $25 million and $30 million in replacement capital expenditures in 2021. “While [Read more]

Pieridae releases 2021 guidance

Highlights: Net operating income (“NOI”)1 growth to $100-$130 million Adjusted Funds Flow From Operations (“AFFO”)1 increase to $80-$110 million Adjusted operating expenses1 of $9.50-10.50/boe Production of 40,000-45,000 boe/d $45-55 million upstream capital budget $10-$15 million pre-FID Goldboro LNG development expense budget, and post-FID Goldboro LNG capital expenditure budget of $250-$350 million2 Commodities hedging of 55-65% on an 18-month rolling boe/d basis [Read more]

Cardinal Energy Ltd. announces private placement

CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) announces that it has entered into subscription agreements for a non-brokered private placement of approximately $16,920,833 principal amount of 2nd lien secured notes (the "Notes") issued at a 4% discount for gross proceeds of $16,244,000. As part of the Note offering, each subscriber is also required to subscribe for a pro rata number of units (the "Units") totaling 8,122,000 Units, at a subscription price of $0.50 [Read more]

TransGlobe Energy Corporation announces an investor conference call and webcast

AIM & TSX: "TGL" & NASDAQ: "TGA" CALGARY, Alberta, Dec. 07, 2020 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) is pleased to announce that the Company will hold a conference call for investors followed by a Q&A session with senior management. INVESTOR CONFERENCE CALL AND WEBCAST The call will be held at 5:00pm GMT / 10:00am MST on Tuesday, December 8, 2020 Details for the conference call are as follows: Conference ID: 1499429 Conference Call [Read more]

TransGlobe Energy Corporation announces an agreement to merge, extend and modernize its Eastern Desert concessions

CALGARY, Alberta, Dec. 03, 2020 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) announces it has reached an agreement with the Egyptian General Petroleum Corporation (“EGPC”) to merge the Company’s three existing Eastern Desert concessions (the West Gharib, West Bakr and North West Gharib concessions) into a new modernized concession agreement (the “Merged Concession” or “Agreement”). The Agreement is subject to the usual Egyptian Parliamentary ratification and [Read more]

Alberta government’s capacity to raise revenues has shrunk 41.3% since 2014/15; moving closer to “have-not” status

CALGARY, Alberta - Alberta’s ability to raise own-source revenues — known as the province’s fiscal capacity—has shrunk substantially in the past six years. This development has rendered the province’s high spending levels unsustainable, and places Alberta at risk of becoming a “have-not” province, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “Just a few years ago, Alberta was able to raise large amounts of revenue with [Read more]

Athabasca Oil Corporation provides 2021 budget guidance and announces bank facility renewal along with an increase in unsecured credit facility capacity

CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or “the Company”) announces its 2021 budget that is focused on maintaining base production and maximizing funds flow. The Company also is pleased to announce that it has renewed its syndicated bank facility and has received an increase to its unsecured letter of credit facility backstopped by Export Development Canada. 2021 Budget Low Sustaining Capital. Athabasca is planning expenditures of $75 million focused on sustaining [Read more]

Baytex announces 2021 budget

CALGARY, Alberta - Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE.BC) announces that its Board of Directors has approved a 2021 capital budget of $225 to $275 million, which is designed to generate free cash flow and average annual production of 73,000 to 77,000 boe/d. “We have re-set our business in response to a volatile crude oil market brought on by Covid-19 and are poised to deliver free cash flow and stable production in a US$40 to US$45 WTI environment. In 2021, we will benefit from our [Read more]