CALGARY - Top oilsands executives say they're looking past swings in crude prices and focusing instead on what's within their control."The truth is no one knows" where prices are heading, Rich Kruger, CEO of Imperial Oil Ltd. (TSX:IMO), said Thursday at the company's annual meeting."At Imperial, we are approaching our business as if we may be in for a sustained period of lower prices," he said. And if the market improves, "all the better."During the first quarter, U.S. benchmark crude hovered [Read more]
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Lower Oil Prices Boost Prospects for Global Economic Growth
HIGHLIGHTS World economy is forecast to expand by close to 3 per cent this year and 3.2 per cent in 2016. Most of the world's major economies import millions of barrels of oil per day, including the United States, Europe, Japan, China, and India, and benefit from the decline in world oil prices. The U.S. economy is set to expand at around 3 per cent over the next two years. OTTAWA, April 30, 2015 /CNW/ - Growth in the global economy is expected to pick up slightly this year, mainly due to the [Read more]
Imperial announces estimated first quarter financial and operating results
For the three months ended March 31, 2015 CALGARY, April 30, 2015 /CNW/ - First quarter (millions of dollars, unless noted) 2015 2014 % Net income (U.S. GAAP) 421 946 (55) Net income per common share - assuming dilution (dollars) 0.50 1.11 (55) Capital and exploration expenditures 1,050 1,234 (15) Rich Kruger, Chairman, [Read more]
Penn West Announces Its Financial And Operational Results For The First Quarter Ended March 31, 2015
CALGARY, April 30, 2015 /CNW/ - PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE) ("Penn West", the "Company", "we", "us" or "our") is pleased to announce its financial and operational results for the first quarter ended March 31, 2015. All figures are in Canadian dollars unless otherwise stated. Three months ended March 31 2015 2014 % change Financial (millions, except per share amounts) Gross revenues [Read more]
Shell sees revenue dive due to slide in energy prices, but profits above forecasts
LONDON - Oil company Royal Dutch Shell on Thursday reported better-than-expected profits, though sales were hammered by the drop in global energy prices.It said its first-quarter profit rose 7 per cent, thanks to a good performance in the refining division as well as to the fact that year-earlier figures were weighed down by one-time charges.The current cost of supplies, a measure of profit used in the industry that strips out fluctuations in the value of oil stocks, increased to $4.76 billion [Read more]
Talisman Announces Anticipated Date for Completion of Acquisition by Repsol
CALGARY, ALBERTA--(Marketwired - April 30, 2015) - Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) announces that the completion of the acquisition of Talisman by Repsol S.A. is scheduled to occur on May 8, 2015. Regulatory approvals required under the arrangement agreement with Repsol have been obtained. The completion of the transaction remains subject to the satisfaction of customary closing deliverables. Talisman Energy Inc. is a global upstream oil and gas company, headquartered in Canada. [Read more]
Oilsands giant Suncor Energy posts $341-million net loss in first quarter
CALGARY - Suncor Energy Inc. (TSX:SU), Canada's largest oilsands producer, posted a $341 million net loss during the first three months of 2015, when crude prices hovered around a meagre US$50 a barrel.During the same period a year earlier, the Calgary-based company turned a net profit of about $1.49 billion.Without unusual items in the mix, like foreign exchange impacts, Suncor posted $175 million in operating earnings, down sharply from $1.79 billion during the first quarter of 2014.Suncor has [Read more]
Suncor Energy reports first quarter 2015 results
CALGARY, ALBERTA--(Marketwired - April 29, 2015) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, unless noted otherwise. [Read more]
Striker Announces Fourth Quarter and Full Year 2014 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - April 29, 2015) - Striker Exploration Corp. ("Striker" or the "Company") (TSX VENTURE:SKX) is pleased to announce our operating and financial results for the three and twelve month periods ended December 31, 2014. Our full audited Consolidated Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2014 are available on Striker's website (www.strikerexp.com) and will be filed on [Read more]
Epsilon Reports First Quarter 2015 Results
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]