CALGARY, Alberta - Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces first quarter results for the period ended March 31, 2023. President’s Message The execution of Freehold’s North American strategy continued during the first quarter. From the COVID related lows of 2020, when Freehold embarked on our North American expansion, the Company has grown its production by over 50%, its revenues by 75%, while maintaining the Company’s core identity of providing shareholders with [Read more]
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Birchcliff Energy Ltd. announces Q1 2023 results, declaration of Q2 2023 dividend of $0.20 per common share and discloses Elmworth land position
CALGARY, Alberta - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q1 2023 financial and operational results and that its board of directors (the “Board”) has declared a quarterly cash dividend of $0.20 per common share for the quarter ending June 30, 2023. Birchcliff is also pleased to disclose the details of its land position on the Montney/Doig Resource Play in Elmworth, Alberta. “In Q1 2023, we generated adjusted funds flow(1) of $88.7 [Read more]
Alberta producers restart oil and gas operations as wildfires ease
A number of oil and gas companies in Canada's main crude-producing province Alberta restarted shuttered production on Wednesday as wildfires that had sparked widespread evacuations eased. Producers shut in at least 319,000 barrels of oil equivalent per day (boepd), or 3.7% of the country's production, earlier this week as more than 100 fires ignited across Alberta, forcing nearly 30,000 people to flee their homes. By Wednesday a couple of days of cooler weather in southern and central [Read more]
Suncor says worker injured in bear attack at oil sands plant
Suncor Energy said on Wednesday a worker was injured in bear attack at the company's oil sands base plant in northern Alberta, the latest in a series of safety incidents at the Canadian oil producer. The incident happened on Saturday evening and the individual was transferred to hospital and released a few hours later, Suncor said in a statement. [Read more]
US House committee to consider bill on pressuring OPEC
The House Judiciary Committee was set to consider a bill on Wednesday to pressure the OPEC oil production group to stop making output cuts that can result in higher fuel prices for U.S. drivers. The committee was expected to vote on the so-called No Oil Producing and Exporting Cartels, or NOPEC, bill, which would change U.S. antitrust law to revoke the sovereign immunity that has protected OPEC+ members and their national oil companies from lawsuits over price collusion. OPEC+'s members [Read more]
Tourmaline provides additional wildfire update
CALGARY, AB, May 10, 2023 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is providing an operations update in the wildfire-affected areas of Alberta. Seven of Tourmaline's nine facilities, previously shut-in due to the wildfires, have resumed operations and are operating at previous production rates. The remaining two facilities, West Wolf and Columbia, are undamaged and ready to resume operations; both are awaiting final start-up clearance from the [Read more]
Crescent Point closes strategic Montney acquisition and provides update on the impact of the Alberta wildfires
CALGARY, AB, May 10, 2023 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce that it has successfully closed its previously announced strategic and accretive acquisition of oil and liquids-rich Montney assets in Alberta for $1.7 billion in cash (the "Transaction" or "Acquisition"). This Acquisition aligns with Crescent Point's long-term strategy and enhances the Company's portfolio by adding 600 high-return Montney [Read more]
Spartan Delta Corp. announces the completion of previously announced asset sale and provides additional details with respect to the distribution of cash proceeds and securities of Logan Energy Corp. to shareholders
CALGARY, AB, May 10, 2023 /CNW/ - Spartan Delta Corp. ("Spartan" or the "Company") (TSX: SDE) is pleased to announce that it has completed the sale of its Gold Creek and Karr Montney assets to Crescent Point Energy Corp. for cash consideration of $1.7 billion (the "Asset Sale"). Spartan also confirms that, on June 20, 2023, the Company will transfer its Simonette, Pouce Coupe and Flatrock assets (the "Logan Assets") to Logan Energy Corp. ("Logan"), a newly formed subsidiary of Spartan, in [Read more]
Cardinal Energy Ltd.: Non-Core Property Divestiture
Cardinal Energy Ltd. (“Cardinal” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in the Rainier, Forestburg and Wainwright South areas of Alberta (the “Properties”). The Properties consist primarily of operated, high working interest oil production. Cardinal is selling the Properties in order to focus its operations in its core areas. Average daily production net to Cardinal from the [Read more]
Exclusive Interview: Driving a culture of operational excellence at Vale
Quoc Hao Mach, Operational Excellence Manager at Vale, says that cultural transformation has been a critical part of operational excellence at the company and that people factors are usually the most important, and sometimes neglected, component of operational excellence. “You need to remember that you’re not dealing with statistics or Six Sigma; you’re dealing with people,” he says. In this interview, Quoc Hao Mach speaks what operational excellence looks like at Vale, the challenges of [Read more]