CALGARY- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to provide preliminary 2020 plans and announce the fall review of the Company’s borrowing base redetermination of its credit facility has been completed. Granite is planning a capital program in 2020 that continues to prioritize significant debt repayment while growing production and adding producing reserves at highly efficient and economic metrics. Following a successful recompletion test in August 2019, [Read more]
Headlines
Husky Energy Announces 2020 Capital Spending and Production Guidance
CALGARY- Husky Energy’s capital program for 2020 will be $3.2-$3.4 billion, with average annual Upstream production forecast to be in the range of 295,000-310,000 barrels of oil equivalent per day (boe/day), inclusive of an allowance for curtailment. The capital program is being reduced by $500 million in the 2020-2021 timeframe compared to Husky’s May 2019 Investor Day plan, reflecting $100 million in reductions in 2020 and $400 million in 2021. The oil price assumption for 2020 and 2021 is [Read more]
Leading Independent Proxy Advisor Firm ISS Recommends that Pengrowth Energy Corporation Shareholders Approve the Arrangement with Cona Resources Ltd.
CALGARY, Alberta, Dec. 02, 2019 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, released a report (the "ISS Report") recommending that Pengrowth shareholders vote in favour of the proposed arrangement (the "Arrangement") with Cona Resources Ltd. (the “Purchaser”), a portfolio company of Waterous Energy Fund. The ISS Report states [Read more]
Obsidian Energy Appoints Stephen Loukas Interim President & CEO and Makes Other Appointments to Management Team including Peter Scott as the Senior Vice President, CFO; Announces Reconfirmation of the Company’s Syndicated Credit Facility Provides Operational and Hedging Update Approval of the $49.4 Million First Half 2020 Capital Plan
CALGARY - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce the appointment of Stephen E. Loukas as Interim President and CEO, effective December 5, 2019. Mr. Loukas will succeed current Interim President and CEO, Michael J. Faust, who will return to his prior position of Independent Director and take on new responsibilities as Chair of the Commercial Committee. Gordon Ritchie, Chairman of the Board of Directors [Read more]
MEG Energy announces successful completion of its 2020 rail strategy and reaffirms 2020 production guidance
CALGARY - MEG Energy Corp. (TSX:MEG) announced today it has successfully completed rail contracting to support its 2020 production guidance. On November 21, MEG announced 2020 production guidance of 94,000 to 97,000 bpd of bitumen which was dependent in part on the Corporation's ability to re-contract a significant portion of its rail loading capacity which was previously contracted for blend sales agreements with the Alberta Petroleum Marketing Commission. The required re-contracting has [Read more]
International Petroleum Corporation Announces Results of Share Repurchase Program
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 349,712 IPC common shares (ISIN: CA46016U1084) during the week of November 25 to 29, 2019 under the previously announced share repurchase program. The share repurchase program, announced by IPC on November 7, 2019, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No [Read more]
Briko Energy Corp. Announces Third Quarter 2019 Financial and Operating Results
Calgary - Briko Energy Corp. ("Briko" or the "Corporation") is pleased to report its financial and operating results for the three and nine months ended September 30, 2019. Financial and operational information is set out below and should be read in conjunction with Briko's September 30, 2019 condensed unaudited interim financial statements and the related management's discussion and analysis ("MD&A"). Briko's condensed unaudited interim financial statements and MD&A are available for [Read more]
Cequence Energy Announces Confirmation of Its Credit Facility Borrowing Base
CALGARY - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce that its senior lender has completed a redetermination of the borrowing base under the Company’s senior secured credit facility (the “Credit Facility”), and has confirmed the borrowing base remains at $7 million. Other than outstanding letters of credit totalling approximately $1.6 million, the Company currently has no amounts drawn under the Credit Facility. OVERVIEW OF CEQUENCE Cequence is engaged [Read more]
Cuda Oil and Gas Inc. Announces the Extension and Expansion of its Credit Facility to Continue to Fund its Light Oil Asset in the Powder River Basin – Wyoming
CALGARY - Cuda Oil and Gas Inc. (“Cuda” or the “Company”) (TSXV: CUDA) is pleased to announce that it has entered into an Agreement with the Company’s institutional lender (the “Lender”) to extend the expiration of its 2nd Lien Facility from December 31, 2019 to March 31, 2020. In addition, the Lender has agreed to advance funding of $4.5 MM CAD under the 2nd Lien Facility. The capital proceeds will be used to fund oil field development expenditures associated with the Company’s Barron Flats [Read more]
Canada weekly rig count down 11 to 126
Canada’s fleet of active drilling rigs shrank from 137 to 126 since last week according to data from Baker Hughes. Total drilling count was 126 at November 27. 77 rigs were drilling for oil; 49 for natural gas. The drilling activity in Alberta and Saskatchewan decreased, with Alberta lowering from 91 to 86 and Saskatchewan losing 5 wells, from 31 to 25. View a full breakdown of Western Canada’s rig activity. [Read more]