Expanded Hedge Coverage, Published 2020 Sustainability Report HOUSTON - Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the third quarter ended September 30, 2020, including a net loss attributable to Murphy of $244 million, or $1.59 net loss per diluted share. Adjusted net loss, which excludes discontinued operations and other one-off items, was $24 million, or $0.15 net loss per diluted share. Unless otherwise noted, the financial and operating [Read more]
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Cardinal Energy Ltd. announces third quarter 2020 financial results
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to announce its operating and financial results for the third quarter ended September 30, 2020. Selected financial and operating information is shown below and should be read in conjunction with Cardinal's unaudited condensed interim financial statements and related Management's Discussion and Analysis for the three months ended September 30, 2020 which are available at www.sedar.com and on our website at [Read more]
Athabasca Oil Corporation announces Q3 2020 results
CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reported its operating and consolidated financial results for the three months ending September 30, 2020. The third quarter demonstrated the significance of Athabasca’s swift response to the COVID-19 pandemic. The Company has focused on maximizing corporate funds flow and maintaining corporate liquidity. Its Leismer asset underpinned a low corporate decline rate with significant cash flow generation. The [Read more]
Topaz Energy Corp. announces strategic royalty acquisition in the Alberta Deep Basin
CALGARY, AB - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that in furtherance of its growth strategy of acquiring low-risk, stable and predictable revenue from its high-quality strategic partners it has entered into a definitive agreement with Tourmaline Oil Corp. ("Tourmaline") for the purchase of additional royalty assets (the "Royalty Acquisition"). The Royalty Acquisition provides free cash flow growth and enhanced sustainability for Topaz while enabling [Read more]
Tourmaline announces strong third quarter results, corporate acquisitions and transaction with Topaz Energy; increases dividend and 2021 guidance
CALGARY, AB - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to release its operating and financial results for the third quarter of 2020. HIGHLIGHTS Two strategic corporate acquisitions, Modern Resources Inc. ("Modern") and Jupiter Resources Inc. ("Jupiter"), providing an additional 76,000 boepd of current production, significant accretive cash flow(1) and free cash flow(2). Follow-on sale of a gross overriding royalty ("GORR") on the Modern and Jupiter [Read more]
Corporate divestiture: Rake Resources Ltd
Rake Resources Ltd. (“Rake” or the “Company”) has engaged Sayer Energy Advisors to assist it with a sale of the shares of the Company. Rake is a private company with over 30 years of history operating oil and natural gas properties in southeastern Saskatchewan. Rake has one shareholder, no severance obligations, no employees and a minimal office lease obligation. Rake currently has approximately $350,000 in positive working capital. Additional corporate information relating to Rake will [Read more]
Oil falls as market awaits U.S. vote results
Oil prices fell on Tuesday as traders were bracing for volatility depending on the voting results and as surging coronavirus cases around the world fed worries about fuel demand. U.S. West Texas Intermediate (WTI) crude fell 22 cents, or 0.6%, to settle at $37.85. Brent futures rose 6 cents, or 0.1%, to settle at $40.04 a barrel. The oil price moves came ahead of data expected to show U.S. crude stockpiles rose 900,000 barrels last week after gaining 4.3 million barrels in the prior [Read more]
Column: Exciting developments in the woods – tree-planting initiatives are just getting on with it
There are a lot of organizations out there. The world is flooded with them, and the sheer number indicates a paradox: If everything is being organized so thoroughly, why is the world in such complete chaos? By the time you read this, the US election may be taking the word chaos to dizzying new heights, brought to you by even more organizations. Despite that philosophical conundrum, there are still new ones popping up that are more than welcome. Below are a few that actually have some appeal. [Read more]
XI Technologies: Open Asset Evaluation for November 2020
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 to receive our Wednesday Word to the Wise in your inbox, subscribe here. Succeeding in oil and gas M&A comes down to how well and how quickly you can analyze potential opportunities. Once a month, XI Technologies will apply its evaluation tools to a currently available asset to give readers a sense of [Read more]
LISTEN: Canadian Gas Dialogues 2020 – LNG opportunities
LNG Canada and Woodfibre LNG represent Canada’s vanguard on the international LNG stage, but more is yet to come. From ISO shipments out of Vancouver to world-scale projects on the drawing board in Quebec and Nova Scotia, Canada has the potential to play a leading role delivering the world’s cleanest LNG to global markets. What needs to be done to make sure that potential is reached? Moderator: Cameron Gingrich, Managing Partner – Markets and Strategy, Incorrys Panel: Allan Fogwill, [Read more]