HOUSTON, TEXAS--(Marketwired - April 29, 2015) - Epsilon Energy Ltd. ("Epsilon" or the "Company") (TSX:EPS) today reported first quarter 2015 financial and operating results. Mr. Michael Raleigh, Chief Executive Officer, commented, "Despite experiencing historically low realized natural gas prices and electing to plateau production at less than full potential, Epsilon generated $3.9 million of EBITDA during the quarter. In addition to adopting voluntary production ceilings during the quarter, [Read more]
News
ARC Resources Ltd. Reports Record First Quarter Production
CALGARY, April 29, 2015 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its first quarter 2015 operating and financial results. First quarter production averaged a record 120,354 boe per day and funds from operations were $191.5 million ($0.57 per share). ARC's unaudited Condensed Interim Consolidated Financial Statements and Notes, as well as ARC's Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2015 and 2014, are available on ARC's [Read more]
Tourmaline Achieves Record Production in the First Quarter as Strong Well Results Continue
CALGARY, AB--(Marketwired - April 29, 2015) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce record production results for the first quarter of 2015. HIGHLIGHTS Record average production of 143,725 boepd in the first quarter of 2015, up 40% over first quarter of 2014, and 10% over the prior quarter. Record average oil and condensate production of 10,805 bpd and 7,830 bpd of NGLs or 13% of total corporate production in Q1 2015. Liquids production [Read more]
Cenovus CEO pans idea of royalty review as May 5 Alberta election looms
CALGARY - The CEO of Calgary-based Cenovus Energy says it would be a bad idea to review Alberta's royalty structure at a time when crude prices are down by half.Brian Ferguson says if Alberta is not fiscally competitive, then jobs and investment will go elsewhere.Royalties have become a hot topic ahead of Tuesday's election, with NDP Leader Rachel Notley saying it makes sense to examine whether Albertans are getting their fair share of the province's resource riches.Notley has also said she [Read more]
Connacher Mourns Death of Chairman
CALGARY, April 29, 2015 /CNW/ - Connacher Oil and Gas Limited (CLL – TSX; "Connacher" or the "Company") has lost a great friend and leader. Colin Evans, Connacher's Board Chairman, passed away yesterday. Colin was appointed to Connacher's Board in April 2004 and became the Chairman in May 2012. He was an ardent supporter of the Company. In 2012 through April 2013, he also acted as co-managing director, guiding the Company through the disposition of its refining and conventional exploration [Read more]
NuVista Energy Ltd. Announces Closing of Equity Financings
CALGARY, ALBERTA--(Marketwired - April 29, 2015) - NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce that it has closed its previously announced public offering of 11,465,000 common shares and 2,313,000 common shares issued on a "flow-through" basis pursuant to the Tax Act (Canada) ("Flow-Through Shares") through a syndicate of underwriters co-led by RBC Capital Markets and Peters & Co. Limited and including CIBC World Markets Inc., Scotia Capital Inc., FirstEnergy Capital [Read more]
Scotiabank’s Commodity Price Index Tumbles in March, but Will Strengthen in April
TORONTO, ON--(Marketwired - April 29, 2015) - After rallying in February, Scotiabank's Commodity Price Index dropped by 3.7% in March, as oil prices retreated once again. The All Items Index is at its lowest level since January 2007 and is 32.8% below a year earlier."The good news is a spring rally has emerged in April, with price gains for oil and base metals," said Patricia Mohr, Vice President of Economics and Commodity Market Specialist at Scotiabank. "West Texas Intermediate (WTI) oil [Read more]
Cenovus first-quarter oil sands production up 20%
Oil sands per-unit operating costs decline 31% Combined oil sands production averaged more than 144,000 barrels per day (bbls/d) net in the first quarter, up 20% from the same period in 2014. Total oil production was more than 218,000 bbls/d, 11% higher than in 2014. Upstream per-unit operating costs declined 23%, including a 31% decrease in oil sands per-unit operating costs, compared with the first quarter of 2014. Cash flow was $495 million, a 45% decline from the first quarter in [Read more]
Leucrotta Exploration Announces Q4 2014 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - April 29, 2015) - LEUCROTTA EXPLORATION INC. (TSX VENTURE:LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2014. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Commenced active oil and natural gas operations on August 6, 2014 as a result of the closing of an arrangement agreement between Leucrotta, Crocotta Energy Inc. ("Crocotta") and [Read more]
Have Natural Gas Prices Bottomed?
Last Friday we finally got confirmation of where all the natural gas supply has been coming from as Cabot (COG) reported its earnings. Just like Chesapeake (CHK), they reduced natural gas output, but on a much grander scale. CHK has yet to report and will do so on May 6th providing even more color on the subject. Last month they announced a 2% reduction in NGAS volumes to 1-3% for 2015 vs. 3-5%. But the ramp up of supply from Marcellus, and to a lesser extent Utica, and a corresponding flat [Read more]