CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reports its 2020 year-end results and annual reserves. In a year of unprecedented challenges, Athabasca demonstrated the exceptional resilience of its low-decline assets. In 2021, Athabasca is focused on resuming its pre-COVID business plan of free cash flow generation, disciplined operations and preserving long term future projects across its portfolio. Armed with an unrestricted cash balance of $165 million, [Read more]
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Peyto returns to profitability with Q4 2020 results
CALGARY, Alberta - Peyto Exploration & Development Corp. (“Peyto” or the “Company”) today reports operating and financial results for the fourth quarter and 2020 fiscal year. A 55% operating margin1 combined with record low $2.07/Mcfe total supply cost (PDP FD&A plus Total Cash Costs) helped the Company endure the lowest realized commodity prices in Company history. Annual Return on capital employed (“ROCE”) and Return on equity (“ROE”) were 0% and -2%, respectively, despite fourth [Read more]
MEG Energy announces full year 2020 free cash flow of $129 million, debt repayment of $132 million and 28% year-over-year reduction in G&A expense
CALGARY, AB - MEG Energy Corp. (TSX: MEG) ("MEG" or the "Corporation") reported its full-year 2020 operational and financial results. Highlights include: Free cash flow of $129 million driven by adjusted funds flow of $278 million ($0.91 per share) and disciplined capital spend of $149 million; Bitumen production volumes of 82,441 barrels per day (bbls/d) at a steam-oil ratio (SOR) of 2.3; Repayment of $132 million of long-term debt concurrent with the refinancing of US$1.2 [Read more]
Briko Energy announces its 2020 year-end reserves and corporate update
Calgary, Alberta - Briko Energy Corp. ("Briko" or the "Corporation") is pleased to announce its 2020 year-end reserves and corporate update. 2020 Reserve Highlights Proved ("1P") reserves of 2.3 million barrels of oil equivalent ("BOE") at December 31, 2020 compared to 2.4 million BOE at December 31, 2019; 1P net present value of $14.5 million ($1.29 per share) at a 10% discount rate at December 31, 2020; Proved plus probable ("2P") reserves of 3.0 million BOE at December 31, 2020 [Read more]
Value of existing energy pipelines grows as ESG targets block new projects
Existing energy pipelines in North America are becoming increasingly valuable because investor focus on environmental, social, and corporate governance (ESG) issues is making it more difficult to finance new infrastructure, midstream industry executives said on Wednesday. The "tobaccofication" of the energy industry in recent years has led to less money flowing to the midstream sector as investors and the public increasingly focus ESG investments, Peter Bowden, global head of energy [Read more]
Oil rises on demand hopes after days of sell-off
Oil prices rose on Wednesday, boosted by demand hopes on progress made in U.S. vaccine rollouts, while uncertainty over how much supply OPEC+ will restore to the market at its Thursday meeting and a big build in U.S. crude stocks capped gains. U.S. West Texas Intermediate (WTI) crude futures rose $1.34 cents, or 2.25%, to $60.80 a barrel recovering from three days of losses. Brent crude futures rose $1.15 cents, or 1.84%, to $63.58 a barrel, up from four days of losses. Both futures had [Read more]
TC Energy and TC PipeLines, LP complete merger
CALGARY, Alberta – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) and TC PipeLines, LP (NYSE:TCP) (TCP) today announced that they have completed the previously announced merger (the Merger) pursuant to an Agreement and Plan of Merger dated December 14, 2020. The Merger resulted in TC Energy acquiring all of the outstanding publicly-held common units of TCP and TCP becoming an indirect, wholly owned subsidiary of TC Energy. “We are pleased to have received majority unitholder approval of [Read more]
Paramount Resources Ltd. reports 2020 annual results and provides 2021 guidance
CALGARY, AB, March 3, 2021 /CNW/ - HIGHLIGHTS Annual sales volumes averaged 68,340 Boe/d (39% liquids) in 2020. Fourth quarter 2020 sales volumes averaged 73,460 Boe/d (42% liquids), ahead of guidance of 70,000 to 72,000 Boe/d.(1) Fourth quarter sales volumes at Karr, which benefitted from bringing onstream the five-well 5-16 West pad in November, averaged 26,914 Boe/d (56% liquids), compared to 19,246 Boe/d (57% liquids) in the third quarter. Fourth quarter sales volumes at [Read more]
XI Technologies: Montney Overview
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. The Montney has seen a lot of action in recent A&D activity as new players look for opportunities in this prolific play. Today, we’ll draw on XI Technologies’ enriched industry data to offer a few [Read more]
Cardinal Energy Ltd. announces 2020 year-end reserves
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to present the results of its independent reserve report effective December 31, 2020. One hundred percent of Cardinal's year-end 2020 reserves were evaluated by independent reserves evaluator GLJ Ltd. ("GLJ") as at December 31, 2020 (the "2020 Reserve Report"). The 2020 financial information in this press release is unaudited and accordingly, such financial information is subject to change based on the [Read more]









