CALGARY - Crescent Point Energy Corp. says it has struck a deal to buy Alberta oil and gas producing assets from the Canadian arm of Royal Dutch Shell for $900 million. The Calgary-based producer says it will pay $700 million in cash and issue 50 million shares in return for the Duvernay light oil shale assets in the western part of the province. Shell, which sold most of its oilsands assets in Alberta to Calgary-based Canadian Natural Resources Ltd. in 2017, says the deal announced after [Read more]
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Caltech Surveys – Grande Prairie market expansion & COO appointed
Caltech Surveys is excited to announce the return of Mike Jung, MBA, to our team. Mike has re-joined Caltech in a newly created position as Chief Operating Officer, assuming leadership of our business operations. Mike led our early pipeline development work in 2014 and has remained connected to the company as a pipeline operations consultant. We would also like to welcome Jason Attwood, ALS, to the organization as Branch Manager of our new Grande Prairie branch office. Jason has lived and [Read more]
Salt Bush Energy Ltd. sale and investment solicitation procedure
Salt Bush Energy Ltd. (the “Company”), in connection with its Notice of Intention to Make a Proposal (the “NOI Proceedings”) commenced on January 13, 2021 pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act, RSC 1985, c B-3, has commenced a sale and investment solicitation procedure (“SISP”). Pursuant to a Court order issued on February 12, 2021, Deloitte Restructuring Inc. (“Deloitte”) in its capacity as proposal trustee has been authorized to carry out a “stalking horse” [Read more]
TC Energy reports record earnings again in 2020
CALGARY, Alberta - TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced net income attributable to common shares for fourth-quarter 2020 of $1.1 billion or $1.20 per share compared to net income of $1.1 billion or $1.18 per share for the same period in 2019. For the year ended December 31, 2020, net income attributable to common shares was $4.5 billion or $4.74 per share compared to net income of $4.0 billion or $4.28 per share for 2019. Comparable earnings for [Read more]
Seven Generations Energy releases fourth quarter 2020 results
CALGARY, Alberta - Seven Generations Energy Ltd. (TSX: VII) FOURTH QUARTER & FULL-YEAR 2020 HIGHLIGHTS Quarterly sales volumes averaged 190.1 Mboe/d (43% natural gas, 35% condensate, 22% other NGLs), delivering full-year volumes of 183.9 Mboe/d (43% natural gas, 35% condensate, 22% other NGLs) in-line with the company’s revised full-year 2020 budget. Fourth quarter funds flow of $275 million and capital investments of $126 million resulted in free cash flow of $149 million, [Read more]
TC Energy expects ‘substantive’ charge related to Keystone XL permit revocation
CALGARY - TC Energy Corp. says it expects to take a "substantive" charge when it reports its first-quarter results for 2021 due to the decision by U.S. President Biden to revoke the presidential permit for its Keystone XL pipeline. The company says it couldn't yet say what the size of the charge will be, which it expects to be predominantly non-cash, but that it was assessing its options. It also noted that the viability of certain projects currently associated with the Keystone XL [Read more]
Obsidian Energy announces 2020 reserves results
Calgary, Alberta - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce its independent reserves evaluation for the year ended December 31, 2020, prepared by Sproule Associates Limited ("Sproule"). "We're extremely pleased with our reserves results in 2020," said Stephen Loukas, Obsidian Energy's Interim President and CEO. "It was a challenging year with extreme oil price volatility impacting all aspects of our business. [Read more]
Gear Energy Ltd. announces fourth quarter 2020 operating results and year-end reserves summary
CALGARY, AB - Gear Energy Ltd. ("Gear" or the "Company") (TSX: GXE) is pleased to provide the following fourth quarter operating update and reserves summary to shareholders. Gear's Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended December 31, 2020 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Twelve months [Read more]
Distinction Energy Corp. announces strategic Simonette asset acquisition
CALGARY, Alberta - Distinction Energy Corp. (“Distinction” or the “Company”) is pleased to announce its commitment to participate as to 50% in a $335 million acquisition, including $15 million in contingency payments based on future commodity prices, entered into by Kiwetinohk Resources Corp. (“Kiwetinohk”) for certain interests in the Simonette area of northwest Alberta (the “Acquisition”). The Acquisition consists of certain multi-zone, oil and liquids-rich natural gas producing assets in the [Read more]
Peyto Reports Year End Reserves, Strategic Acquisitions and 48% Increase in Capital Budget
CALGARY, Alberta, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2020. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2020 marks the Company’s 22nd year of successful reserves development. 2020 HIGHLIGHTS For the year ended December 31, 2020, [Read more]