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Headlines
Obsidian Energy Releases 2019 Reserves Results
CALGARY, Feb. 6, 2020 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to release its year-end 2019 independent reserves evaluation. Stephen Loukas, Interim President and CEO commented, "We are pleased to announce our 2019 reserve results which demonstrates the strength of our dedicated Cardium development strategy, allowing for our reserve auditors to recognize the performance and improved cost efficiency of the [Read more]
Advantage Announces Record Production, Strong Reserves Growth with 212% PDP Reserves Replacement and 2.2 PDP Recycle Ratio
2019 Year-End Reserves & Operating Results (TSX: AAV) CALGARY, Feb. 5, 2020 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce its 2019 year-end reserve evaluation by Sproule Associates Limited ("Sproule"), and a summary of 2019 operating results. During 2019, Advantage achieved several important milestones in our liquids-focused transition, as demonstrated by our reserves additions and operating results. These achievements have [Read more]
Suncor Energy reports fourth quarter 2019 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars, and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for Libya, which are presented on an economic basis. Certain financial measures referred to in [Read more]
Suncor Energy declares increased dividend and announces additional share repurchase program
All financial figures are in Canadian dollars. CALGARY, Alberta, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.465 per share on its common shares, payable March 25, 2020 to shareholders of record at the close of business on March 4, 2020. This dividend represents an approximate 11% increase over the prior quarter and marks 18 years of consecutive annualized dividend increases. The dividend increase is supported by sustainable, [Read more]
Baytex Announces Closing of US$500 Million Private Placement Offering of Senior Notes
CALGARY, Alberta - Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announced today the closing of its private placement offering (the “Offering”) of US$500 million aggregate principal amount of senior unsecured notes due 2027 (the "Notes"). The Notes were issued at par, bear interest at a rate of 8.75% per annum and mature on April 1, 2027. The Notes will pay interest semi-annually in arrears. Baytex intends to use the net proceeds from the Offering and its existing unutilized credit facilities [Read more]
Heavy discount narrows to fresh 2-1/2-month low
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude narrowed on Wednesday to a fresh 2-1/2-month low, driven by dwindling inventories. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $17.75 per barrel below WTI, according to NE2 Canada Inc, narrower than Tuesday's settle of $18.50 under. The discount was the smallest since mid-November. Alberta oil inventories have shrunk since December as rail [Read more]
Shipping crude oil through Manitoba has been floated, rejected before
WINNIPEG - There's renewed talk of transporting western oil through the northern Manitoba port in Churchill, but any such project is likely to run into opposition from environmentalists and some people who live there. Using the sub-Arctic port on the western shore of Hudson Bay as a route for Prairie oil has been floated before. But it has been condemned largely due to the area's fragile ecosystem and Churchill's reputation for eco-tourism. "It's a terrible idea to even consider shipping [Read more]
Talks with Wet’suwet’en over pipeline ‘not successful,’ province says
SMITHERS, B.C. - The British Columbia government and First Nations hereditary chiefs say they have failed to reach an agreement on a peaceful resolution over the enforcement of an injunction in northwestern B.C. Wet'suwet'en hereditary chiefs proposed seven days of discussions to de-escalate the dispute over the construction of the Coastal GasLink pipeline through the First Nation's traditional territory near Houston. Chief Woos, who also goes by Frank Alec, says in a statement that two [Read more]
Four more arrested at Co-op refinery, charged with violating court order
Regina police have arrested four people involved in a labour dispute at the city's Co-op oil refinery. Police say four men from Saskatchewan face charges of mischief under $5,000 and disobeying a court order. Unifor says the accused are Local 594 members who were on a peaceful picket line at one of the refinery gates. Last month, officers arrested 14 union members, including Unifor's national president, after access was blocked to the plant. More than 700 refinery workers were locked [Read more]