CALGARY, Alberta - Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three months ended March 31, 2022. Q1 2022 HIGHLIGHTS: Production up 25% – Production was up 25% quarter over quarter from 5,880 boe/d in the fourth quarter of 2021 to 7,379 boe/d in the first quarter of 2022 primarily due to the new wells drilled in late 2021. The acquisition (as discussed below) contributed only 90 boe/d to the quarterly [Read more]
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Questerre reports first quarter 2022 results
CALGARY, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the quarter ended March 31, 2022. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Though it has not yet come into force, the National Assembly in Quebec passed Bill 21 banning oil and gas development in the province last month. We are still keen to work with the people of Quebec who have shown support for our [Read more]
Canada banks face ‘greenwashing’ claims as oil & gas firms obtain sustainable financing
For banks in Canada, one of the world's largest oil producers, it's not easy being green. In the past two years, Canadian banks have increased the amount of sustainability-linked financing (SLF) they extend to oil and gas clients. SLF refers to financing whose cost changes when certain environmental, social and governance (ESG) requirements are met at the company level but does not require the funds themselves to be used for climate-friendly purposes. This has led to accusations of [Read more]
Pieridae releases Q1 2022 results
CALGARY, Alberta - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) released its Q1 2022 financial and operating results today, highlighted by the positive impact higher commodity prices have had on our business, resulting in material increases in NOI, AFFO, net income, petroleum and natural gas revenue, and netback per boe. “We achieved solid financial results, managed our costs and, subsequent to the end of the quarter, began to reduce our debt principal. Higher commodity [Read more]
Rubellite Energy Inc. reports first quarter 2022 financial and operating results and provides operations and land acquisition update
CALGARY, AB - Rubellite Energy Inc. ("Rubellite", or the "Company"), a pure play Clearwater oil exploration and development company, is pleased to report first quarter 2022 financial and operating results and provide an operations and land acquisition update. Select financial and operational information is outlined below and should be read in conjunction with Rubellite's unaudited condensed interim financial statements and related Management's Discussion and Analysis ("MD&A") for the [Read more]
Kiwetinohk reports first quarter results, increases guidance and achieves key Green Energy regulatory milestones
CALGARY, AB - Kiwetinohk Energy Corp. (TSX: KEC) today announced its first quarter 2022 results, including record quarterly adjusted funds flow from operations 1 of $37.0 million and average quarterly production of 13,253 boe/d, ahead of previously communicated guidance and above the Company's Q1 2022 budget and plan. Given strong Fox Creek production during the first quarter, Kiwetinohk has increased its 2022 annual production guidance by 500 boe/d to 13,500-15,500 boe/d. Kiwetinohk also [Read more]
More oil, slower demand mean world can weather Russian losses
Lower output from Russia due to the fallout from its invasion of Ukraine will not leave the world short of oil, the International Energy Agency (IEA) said on Thursday, as supply ramps up elsewhere and Chinese lockdowns tamp down demand. "Over time, steadily rising volumes from Middle East OPEC+ and the U.S. along with a slowdown in demand growth is expected to fend off an acute supply deficit amid a worsening Russian supply disruption," the IEA said in its monthly oil report. Slower [Read more]
Pan Orient Energy Corp. – 2022 first quarter financial & operating results
CALGARY, AB - Pan Orient Energy Corp. ("Pan Orient" or the "Company") (TSXV: POE) reports 2022 first quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated, BOPD refers to barrels of oil per day and BOPD for Thailand operations represents volumes net to Pan Orient's 50.01% equity interest in the Thailand Joint Venture. The Company is today filing its unaudited consolidated financial statements as at and for the [Read more]
Touchstone announces first quarter 2022 financial and operating results
CALGARY, AB - Touchstone Exploration Inc. ("Touchstone", "we", "our", "us" or the "Company") (TSX, LSE:TXP) reports its operating and financial results for the three months ended March 31, 2022. Selected information is outlined below and should be read in conjunction with our March 31, 2022 unaudited interim condensed consolidated financial statements and related Management's discussion and analysis, both of which will be available under our profile on SEDAR (www.sedar.com) and on our website [Read more]
Tidewater Midstream and Infrastructure Ltd. announces first quarter 2022 results and operational update
CALGARY, AB - Tidewater Midstream and Infrastructure Ltd. ("Tidewater Midstream" or the "Corporation") (TSX: TWM) has filed its condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2022. FIRST-QUARTER 2022 HIGHLIGHTS Tidewater Midstream delivered its twelfth consecutive quarter of consolidated Adjusted EBITDA growth generating $57.4 million in the first quarter of 2022, representing an approximate [Read more]