CALGARY, Alberta, April 20, 2018 (GLOBE NEWSWIRE) -- Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) and (NYSE:CPG) reaffirms its strategic plan and successes prior to its Annual General Meeting (“AGM”) on May 4, 2018. The Company recommends that shareholders vote for its director nominees and other items for consideration on the WHITE proxy or Voting Instruction Form. Crescent Point has made, and continues to make, strategic decisions that are focused on creating [Read more]
Headlines
U.S. drillers add oil rigs for third consecutive week
U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices near three-year highs. Drillers added five oil rigs in the week to April 20,bringing the total count to 820, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. More than half the total oil rigs are in the Permian basin in west Texas and eastern New [Read more]
Trump slams OPEC, says will not accept high oil prices
WASHINGTON (Reuters) - U.S. President Donald Trump criticized OPEC on Friday for output curbs that have helped raise global oil prices and said “artificially” high prices would not be accepted, drawing rebukes from oil-producing countries as prices dipped following his remarks. “Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!” Trump wrote on [Read more]
Point Loma Resources Announces 2017 Year End Financial and Operating Results
CALGARY, Alberta, April 20, 2018 (GLOBE NEWSWIRE) -- Point Loma Resources Ltd. (TSX VENTURE:PLX) (the "Corporation" or “Point Loma”) is pleased to report financial and operating results for the three months and year ended December 31, 2017. Highlights of the period and additional updates are summarized below: HIGHLIGHTS Financial Year endedDecember 31, 2017 Year endedDecember 31, 2016 (3) Three Months endedDecember 31, 2017 ($ thousands, except share amounts) Petroleum and natural [Read more]
Column: Canada stepping up as a key role player in meeting the world’s need for natural gas
Canada has and should continue to expand its role as a natural gas supplier of choice to the world. The cautionary concerns are not markets, demand, resources or economics; but signals of regulatory confusion or activist interference. The industry and public can actively engage with vocal support to halt the pattern of activist interference in Canadian resource development. The International Energy Agency forecast shows the scale of the need. Natural gas is a key energy supply that will [Read more]
Advantage Announces Glacier Gas Plant Expansion Update, Lowering Natural Gas Production & Increasing Liquids Rich Drilling
(TSX: AAV, NYSE: AAV) - CALGARY, April 19, 2018 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") advises that as previously disclosed in our press release dated March 5, 2018, a production outage was scheduled at our 100% owned Glacier gas plant in April 2018 associated with expanding our plant capacity to 400 mmcf/d and 6,800 bbls/d of liquids. This outage was scheduled to coincide with planned third party pipeline maintenance when AECO natural gas prices were anticipated [Read more]
Auditor general calls for long-term financial forecasts as oil revenue decreases
EDMONTON - Alberta's auditor general says a long-term fiscal projection would help the province as it deals with oil price swings and a diminishing non-renewable resource. In his farewell report, Merwan Saher says enormous oil revenues, such as have been enjoyed by Alberta in the past, can be a double-edged sword. He says such petroleum windfalls can become easy substitutes for strong economic fundamentals in good times, leading to much bigger problems when the prices crash. Saher says [Read more]
Cequence Energy Announces Asset Sale and Operations Update
CALGARY, April 19, 2018 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce that it has disposed of its remaining assets located in north eastern British Columbia effective April 1, 2018, for nominal consideration. Upon closing of this transaction, Cequence becomes a pure Alberta operating entity with a corporate April, 2018 Alberta Energy Regulatory Licensee Liability Rating of 5.7. In the fourth quarter 2017, production associated with the B.C. [Read more]
Supreme Court beer ruling could apply to Alberta-B.C. pipeline war, experts say
CALGARY - A Supreme Court of Canada ruling on bringing beer from Quebec into New Brunswick has implications for the trade war between Alberta and B.C. over the Trans Mountain pipeline expansion. Experts say the court seems to be addressing the issue in its decision when it notes that while some trade barriers can be allowed in some circumstances, those designed to punish another province or to protect a local industry would not be permissible. Howard Anglin, executive director of [Read more]
Caisse de depot pension fund reveals stake in Kinder Morgan
Canada's second biggest public pension fund, Caisse de depot, held a 7.8 percent stake in Kinder Morgan Canada Ltd at the end of last year, according to its annual report, making it the largest independent shareholder of the pipeline company at the center of a contentious expansion project. Caisse de depot et placement du Quebec, which discloses its shareholdings in Canadian companies once a year,said it acquired the stake in the period following Kinder Morgan Canada's initial public offering [Read more]