LNG Canada has completed the cooldown of its liquefied natural gas plant in Kitimat, British Columbia, and is preparing for the plant to produce its first LNG in June, two people familiar with the process told Reuters. Cooling an LNG plant to test how its machinery expands and contracts is a critical step to ensuring the safe production of the super-chilled gas and critical step prior to beginning operations. LNG Canada is the country's first LNG export facility and when completed is [Read more]
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Discount on Western Canada Select heavy crude unchanged
The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) was unchanged on Monday, remaining within the historically tight range it has been trading at this spring. WCS for June delivery in Hardisty, Alberta, settled at $9.15 a barrel under the U.S. benchmark WTI, according to brokerage CalRock. * Canadian heavy crude has been trading at a tight discount in recent months in part due to the opening of the Trans Mountain [Read more]
Weatherford CEO says oil below $50/bbl could hurt offshore investments
Oil prices below $50 a barrel could hurt final investment decisions on offshore projects, oilfield services company Weatherford International's CEO Girish Saligram said on Monday. Plans by the producer group OPEC+ to raise output and U.S. President Donald Trump's tariff policies have pushed U.S. crude oil prices down to over four-year lows to around $57, worrying investors of production shut-ins. Offshore production has remained a rare bright spot as investments are longer cycle, unlike [Read more]
Baytex Announces First Quarter 2025 Results
Calgary, Alberta--(Newsfile Corp. - May 5, 2025) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex" or the "Company") reports its operating and financial results for the three months ended March 31, 2025 (all amounts are in Canadian dollars unless otherwise noted). "Baytex efficiently executed its exploration and development program and delivered first quarter results consistent with our full-year plan," said Eric T. Greager, President and Chief Executive Officer. "In a challenging [Read more]
Topaz reports first quarter 2025 financial results including record royalty production and announces dividend increase
CALGARY, AB, May 5, 2025 /CNW/ - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to provide first quarter 2025 financial results and reconfirm the Company's 2025 guidance estimates. Select financial information is outlined below and should be read in conjunction with Topaz's interim condensed consolidated financial statements ("Financial Statements") and related management's discussion and analysis ("MD&A") as at and for the three months ended March 31, 2025, which are [Read more]
Stampede Drilling Announces Sale of Equipment
CALGARY, AB, May 5, 2025 /CNW/ - STAMPEDE DRILLING INC. ("Stampede", or the "Corporation") (TSXV: SDI) is pleased to announce that it has entered into a drilling equipment purchase agreement (the "Agreement") with a private company (the "Purchaser") providing for the sale (the "Transaction") of certain drilling components (the "Equipment") from an A/C triple drilling rig (the "Triple") previously acquired by Stampede in August, 2022. Total consideration to be paid is $5 million in cash, plus the [Read more]
Gibson Energy Reports 2025 First Quarter Results Driven by Record Infrastructure EBITDA and All-Time High Volumes at Gateway and Edmonton
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, May 05, 2025 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) ("Gibson" or the "Company") announced today its financial and operating results for the three months ended March 31, 2025. Key Highlights: All-time high volumes at both the Gateway and Edmonton terminals drove record Infrastructure Adjusted EBITDA(1) of $155 million Realized recurring and non-recurring cost savings of approximately $6 [Read more]
Diamondback Energy, Inc. Announces First Quarter 2025 Financial and Operating Results
MIDLAND, Texas, May 05, 2025 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the first quarter ended March 31, 2025. FIRST QUARTER 2025 AND RECENT HIGHLIGHTS Average oil production of 475.9 MBO/d (850.7 MBOE/d) Net cash provided by operating activities of $2.4 billion; Operating Cash Flow Before Working Capital Changes (as defined and reconciled below) of $2.5 billion Cash capital [Read more]
Letter to Stockholders Issued by Diamondback Energy, Inc.
MIDLAND, Texas, May 05, 2025 (GLOBE NEWSWIRE) -- Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter. Macro Update The past two months have been challenging for the U.S. [Read more]
Supply issues, compliance costs drive up California fuel prices, EIA says
Drivers in California pay higher prices at the pump than any other state in the country due to supply issues, costs from environmental compliance and fuel requirements, and high state taxes and fees, the U.S. Energy Information Administration said on Monday. In March, costs from Californian environmental programs such as Cap-and-Trade and the Low Carbon Fuel Standard added as much as $0.54 per gallon, the latest data showed. Consumers in California also pay around $0.90 per gallon in taxes [Read more]
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