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]
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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]
Ovintiv Reports Fourth Quarter and Full-Year 2020 Results, Announces Multi-Year Debt Reduction Target, Signs Agreement to Sell Duvernay and Provides Strong 2021 Outlook
Year-end 2020 debt reduced nearly $500 million from mid-year 2020 2021 debt reduction target increased 25% to $1.25 billion including second half 2020 Multi-year debt target issued: $4.5 billion of total debt by year-end 2022 Company signs agreement to sell its Duvernay asset for $263 million Company generated significant non-GAAP Free Cash Flow for third consecutive year Strong well performance and realized prices combined with lower cash costs drive cash flow beat with [Read more]
Shell Sells Non-Core Canadian Shale Assets to Crescent Point Energy
CALGARY, AB, Feb. 17, 2021 /CNW/ - Royal Dutch Shell plc, through its affiliate Shell Canada Energy ("Shell"), has reached an agreement with publicly listed Canadian energy company Crescent Point Energy Corp. ("Crescent Point") to sell its Duvernay shale light oil position in Alberta, Canada for a total consideration of $707 million (C$900 million). The transaction has an effective date of January 1, 2021. The consideration is comprised of $550 million in cash and 50 million shares (valued [Read more]
Crescent Point announces accretive acquisition of Kaybob Duvernay assets for $900 million and enhanced free cash flow
CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) is pleased to announce that it has entered into an agreement (the "Agreement") with Shell Canada Energy ("Shell"), an affiliate of Royal Dutch Shell plc, to acquire Shell's Kaybob Duvernay assets in Alberta (the "Assets") for $900 million (the "Acquisition"). The total consideration consists of $700 million in cash and 50 million common shares of Crescent Point. KEY HIGHLIGHTS [Read more]