Oil prices were down on Thursday in a volatile week as economic concerns and recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe. WTI crude futures fell 8 cents, or 0.07%, to $105.47 a barrel. Brent crude futures slipped 81 cents, or 0.75%, to $106.74 a barrel. Oil prices are under pressure this week, along with global financial markets, on jitters over rising interest rates, the strongest U.S. dollar in two decades, concerns [Read more]
Headlines
Birchcliff Energy Ltd. announces excellent Q1 2022 results, doubling of quarterly common share dividend for Q2 2022 and plans to increase common share dividend in 2023
CALGARY, Alberta - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q1 2022 financial and operational results, the doubling of its quarterly common share dividend for the quarter ending June 30, 2022 and plans to further increase the Corporation’s common share dividend in 2023. “We continue to be committed to maximizing free funds flow generation and significantly reducing indebtedness. I am pleased to report that Birchcliff delivered on both [Read more]
Column: Disinformation becomes an art form, and – a government department. What could go wrong?
I’m not a fan of making predictions of any specificity, because there are usually way too many variables at play for anything of consequence. Trying to guess the price of oil at YE 2022 leaves me speechless despite the pathetically large number of hours I spend trying to understand the market. Yet, given the way 2022 has unfolded, I offer the following predictions as more than odds-on favourites to occur. Pigs will fly through the sky delivering Amazon packages. Kim Jong-un will sing a duet [Read more]
Treeline Well Service LP acquires the assets of Compass Well Servicing
Treeline Well Services LP (Treeline) is pleased to announce, effective May 11, 2022, the partnership has acquired all the assets of Compass Well Servicing (Compass). The Compass fleet consists of 9 mobile double rig packages and all equipment was manufactured between 2013 and 2019. The acquisition will give Treeline the newest fleet of service rigs in Canada. Treeline is excited to welcome the employees of Compass and the partnership will continue to build on the great business Compass has [Read more]
Crescent Point announces Q1 2022 results and increases quarterly dividend
CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the quarter ended March 31, 2022 and an increase to its quarterly dividend. KEY HIGHLIGHTS Increasing quarterly dividend by over 40 percent to $0.065 per share, representing an annualized dividend of $0.26 per share. Repurchased approximately 13.5 million shares since December 2021 for total consideration of approximately [Read more]
Peyto reports record funds flow in Q1 2022
CALGARY, Alberta - Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present its operating and financial results for the first quarter of the 2022 fiscal year. A 71% Operating Margin1,2 and a 34% Profit Margin3 in the quarter delivered an 9% Return on Capital4 and a 13% Return on Equity5, on a trailing twelve-month basis. Highlights for the quarter included: Funds from operations6 per share up 69%. Funds from Operations (“FFO”) were a Company record $203 [Read more]
Prairie Provident Resources announces first quarter 2022 financial results and successful first quarter drilling program
CALGARY, Alberta - Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") is pleased to announce our operating and financial results for the three months ended March 31, 2022. PPR’s unaudited condensed interim consolidated financial statements for the three months ended March 31, 2022 (“Interim Financial Statements”) and related Management’s Discussion and Analysis (“MD&A”) are available on our website at www.ppr.ca and filed on SEDAR. MESSAGE TO SHAREHOLDERS [Read more]
Petrus Resources announces strong first quarter 2022 financial & operating results
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]
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]