CALGARY - Trican Well Service Ltd. (TSX:TCW) says it has cut 2,000 employees from its North American workforce and will stop paying dividends to its shareholders, citing the difficult current and future market conditions facing its oilfield services business.The Calgary-based company also said it's also seeking relaxed terms on debt agreements and in negotiations to sell its Russian and Kazakhstan pressure pumping business, after receiving an unsolicited offer.The update was included with [Read more]
News
Northern Blizzard Resources Inc. Announces First Quarter 2015 Results
CALGARY, May 13, 2015 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard" or the "Company") (TSX: NBZ) announces its operating and financial results for the three months ended March 31, 2015. Northern Blizzard's unaudited financial statements and management's discussion and analysis ("MD&A") for the three months ended March 31, 2015 are available on our website at www.northernblizzard.com and on SEDAR at www.sedar.com. HIGHLIGHTS First quarter 2015 production was 22,469 [Read more]
Tamarack Valley Energy Ltd. Announces 2015 First Quarter Results, Including Record Production While Reducing Debt
CALGARY, ALBERTA--(Marketwired - May 13, 2015) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce its operating and financial results for the first quarter of 2015. The Company exceeded its first quarter 2015 production guidance of 8,000 boe/d by averaging 8,092 boe/d. First quarter production increased 5% on an absolute basis as well as on a per share basis from 7,681 boe/d in the previous quarter. The Company achieved this record production [Read more]
ExxonMobil Announces Cold Lake Project Expansion Starts Production on Schedule
$2 billion expansion to increase production by 40,000 barrels per day Expansion accesses 280 million barrel bitumen resource IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today that bitumen production began on schedule at the $2 billion Cold Lake Nabiye project expansion in northeastern Alberta, Canada. The expansion is producing about 20,000 barrels per day and volumes are expected to increase during the year to peak daily production of 40,000 [Read more]
Saudi Arabia Continues To Turn Screws On U.S. Shale
Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC's latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month's total of 10.29 million barrels. That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. Saudi Arabia has increased production by 700,000 barrels per day since the [Read more]
LGX Oil + Gas Inc. Announces First Quarter 2015 Results
CALGARY, May 12, 2015 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV:OIL) is pleased to announce it has filed on SEDAR its unaudited financial statements and related Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2015. Selected financial and operational information is outlined below and should be read in conjunction with LGX's unaudited financial statements and the related MD&A which are available for review at www.lgxoil.com or [Read more]
Rock Energy Inc. Reports Q1 2015 Results and Plans Capital Spending Increase in the Second Half of the Year
CALGARY, ALBERTA--(Marketwired - May 12, 2015) - Rock Energy Inc. (TSX:RE) ("Rock" or the "Company") is pleased to report its financial and operating results for three months ended March 31, 2015. Copies of Rock's audited financial statements and related management's discussion and analysis for the three months ended March 31, 2015 have been filed on the SEDAR website at www.sedar.com and may be obtained on Rock's website at www.rockenergy.ca. Rock is a Calgary-based crude oil exploration, [Read more]
Encana CEO says NDP appreciates importance of oilpatch and will move cautiously
CALGARY - The CEO of oil and gas giant Encana Corp. (TSX:ECA) said he believes Alberta's incoming NDP government appreciates the importance of a healthy oilpatch."I think you'd almost have to be from another planet not to understand how important oil and gas is to Alberta and Albertans," Doug Suttles said following the company's annual meeting Tuesday. "I think clearly the industry's having a tough time right now."At the meeting, Suttles fielded questions from shareholders about what the NDP [Read more]
Bonterra Energy Corp. Announces First Quarter 2015 Results
CALGARY, ALBERTA--(Marketwired - May 12, 2015) - Bonterra Energy Corp. (TSX:BNE) (Bonterra or the Company) is pleased to announce its operating and financial results for the three months ended March 31, 2015. The related unaudited condensed financial statements and notes, as well as management's discussion and analysis (MD&A), are available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on Bonterra's website at [Read more]
Surge Energy Inc. Announces Record First Quarter Production
CALGARY, May 12, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces record operating results for the three month period ended March 31, 2015. Surge reports record average production of 20,585 boe per day in the first quarter of 2015 on a significantly reduced capital expenditure program. These record results were also achieved despite the sale of over 500 boepd of non-core Viking production in SW Saskatchewan during the quarter. FINANCIAL AND OPERATING [Read more]