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 $1.79 billion during the first quarter of 2014.Suncor has [Read more]
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Suncor Energy reports first quarter 2015 results
CALGARY, ALBERTA--(Marketwired - April 29, 2015) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), 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]
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]