CALGARY - The Alberta Energy Regulator says a court has upheld its decision to prevent equipment from being removed from Lexin Resources Ltd. sites. Last month the regulator took the unusual step of shutting down all Lexin operations, accusing the Calgary-based oil and gas producer of ignoring orders and regulations. Lexin was ordered to shut down its estimated 1,660 sites, including 1,380 wells and 201 pipelines across the province. The regulator says it submitted [Read more]
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Tourmaline Oil Corp. Earns $59.6 Million in Q4 2016
CALGARY, March 7, 2017 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") achieved exceptional growth in reserves (64%) and top-tier production growth (20%) in 2016 while continuously improving its industry-leading cost structure. HIGHLIGHTS Q4 after-tax earnings of $59.6 million ($0.24/diluted share), re-emphasizing the underlying profitability of Tourmaline's E&P business, even in a low commodity price environment. Q4 2016 cash flow(1) of $252.5 million [Read more]
TransGlobe Energy Corporation Announces Fourth Quarter and Year End 2016 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - March 7, 2017) - TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:TGL)(NASDAQ:TGA) announces its financial and operating results for the three months and year ended December 31, 2016. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe's Audited Consolidated Financial Statements together with the notes related thereto, as well as TransGlobe's Management's Discussion and Analysis for the years ended [Read more]
Trilogy Energy Corp. Announces Financial and Operating Results for the Quarter and Year-Ended December 31, 2016
CALGARY, ALBERTA--(Marketwired - March 7, 2017) - Trilogy Energy Corp. (TSX:TET) ("Trilogy") is pleased to announce its financial and operating results for the quarter and year-ended December 31, 2016. Financial and Operating Highlights Trilogy added 14.3 MMBoe of total proved reserves and 27.4 MMBoe of total proved plus probable reserves, including technical revisions; Trilogy replaced 180 percent of 2016 produced reserves when [Read more]
Gibsons Reports Financial Results for 2016
CALGARY, ALBERTA--(Marketwired - March 7, 2017) - All financial figures are in Canadian dollars Gibson Energy Inc. ("Gibsons" or the "Company"), (TSX:GEI), announced today its operating and financial results for the three months and year ended December 31, 2016. Highlights: Combined Adjusted EBITDA1 of $97 million in the fourth quarter contributed to 2016 annual performance of $278 million; Infrastructure segment profit [Read more]
Nsolv clean oil sands pilot project achieves game-changing results
Solvent technology is ready for commercial deployment CALGARY, March 7, 2017 /CNW/ - Nsolv Corporation (Nsolv) today announced it has completed the optimization phase of its pilot project, with exceptional results. The pilot is now entering its final stages, which will provide critical shutdown data to optimize the economic and environmental benefits for a commercial-scale project. Launched in January 2014 near Fort McKay, Alberta, Nsolv's pilot project has proven to be robust and [Read more]
Husky Energy Announces Notes Offering
CALGARY, AB--(Marketwired - March 07, 2017) - Husky Energy has agreed to issue $750 million Cdn in notes maturing on March 10, 2027 (the "2027 Notes"). The 2027 Notes have a coupon of 3.60 percent and have been assigned a credit rating of A (low) with a stable trend by DBRS, BBB+ by Standard & Poor's, and Baa2 with a stable outlook by Moody's. The net proceeds of the Offering will be used for general corporate purposes, which may include, among other things, the repayment when due in [Read more]
Front Range Resources Ltd.: Corporate Update
CALGARY, AB--(Marketwired - March 07, 2017) - Front Range Resources Ltd. ("Front Range" or the "Company") (TSX VENTURE: FRK) is pleased to report that drilling operations at the 6-28-52-22 W5M Hz ("6-28") Basal Montney well (100% W.I.) at East Pepper, Alberta have been completed and the completion system and liner have successfully been installed. Preparatory work on the 6-28 well for completion operations will continue this week with fracturing operations to follow pending availability of [Read more]
Sproule appoints Cameron Six as President and CEO
CALGARY, Alberta, CANADA – March 7, 2017 - Sproule announced today that President and CEO Lowy Gunnewiek is no longer with the Company, effective immediately. Cameron Six, a long-time employee of Sproule and current Chief Operating Officer, has been appointed President and CEO. Sproule thanks Mr. Gunnewiek for his hard work and dedication to the company during his time here, specifically in his efforts towards defining our new growth strategy. About Sproule Sproule is a global energy [Read more]
Baytex Reports 2016 Results, Strong Reserves Growth in the Eagle Ford and Resumption of Drilling Activity in Canada
CALGARY, ALBERTA--(Marketwired - March 7, 2017) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) reports its operating and financial results for the three months and year ended December 31, 2016 (all amounts are in Canadian dollars unless otherwise noted). "In 2016, we delivered on our production guidance while spending less than our original capital budget. We also significantly lowered our costs while taking steps to maintain strong levels of financial liquidity. In particular, I [Read more]