CALGARY, Alberta, April 24, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Corporation”) (PEA - TSXV) released its 2018 financial and operating results today, highlighting the fact it took some key steps forward last year in advancing its Goldboro liquefied natural gas (“LNG”) Project. In 2018, the company was issued a permit to construct the facility, received US$1.5 billion in additional conditional loan support from the German Government, closed its purchase of Ikkuma [Read more]
Headlines
Hemisphere Energy Announces 2018 Fourth Quarter and Year-End Financial and Operating Results
TSX-V: HME - VANCOUVER, April 24, 2019 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2018. During 2018, Hemisphere achieved record operational success with significant reserve, production, and revenue growth. The Company executed a $16.1 million capital expenditure program to drill 14 wells and expand both its Atlee Buffalo facilities. This [Read more]
Occidental tries to outbid Chevron for Anadarko Petroleum
NEW YORK - A bidding war is breaking out over Anadarko Petroleum, with Occidental making an offer that it says is about a 20% premium to Chevron's deal announced earlier this month, a rare move not often seen in the U.S. oil industry. Houston-based Occidental Petroleum Corp. said the proposed combination would bolster its position in the Permian Basin in Texas and New Mexico, where it is already the largest oil producer. "We have been focused on Anadarko for several years because we have [Read more]
Column: Canada’s Moral Obligation to the World
It’s common to hear an opinion on Canadian energy exports phrased something like this: “How can Canada in good conscience develop its natural resources for export when it should be leading the way in reducing emissions and developing renewable energy? Any project that increases Canada’s emissions should be halted!” The counter-argument usually rests on some variant of, “But we need the jobs!” With passions high on both sides, it’s unlikely the two groups will ever agree. Perhaps everyone could [Read more]
Canadian Spirit Resources Inc. Announces Year End 2018 Financial Results
CALGARY, Alberta, April 23, 2019 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) announces the release of its financial results for the three and twelve months ended December 31, 2018 including the filing of its 2018 annual audited Financial Statements, Management Discussion and Analysis (“MD&A”), and Forms 51-101F1, F2 and F3. This news release summarizes information contained in the audited Financial Statements and MD&A for the [Read more]
About those “stranded petroleum assets”…a new catch phrase that Canada subscribes to but no one else
I’m sure everyone is aware of the current state of renewable energy, because you’d have to live in the Mariana Trench not to be. The great god Google makes this clear; searching for “wind energy” coughs up 420 million results; “solar energy” finds 620 million references. Poor old “fossil fuels” yields only 88 million, despite being the backbone of the world. While that is a sign of the times, fossil fuels, no matter what one wants to hear, still dominate the global landscape, and attempts to [Read more]
Cenovus says Alberta production curtailments are working, reports Q1 profit
CALGARY - Cenovus Energy Inc. reported a profit of $110 million in its first quarter compared with a loss a year ago as it benefited from improved prices for western Canadian oil. The company says the improvement in prices for western Canadian oil due to the Alberta government's curtailment program more than offset the impact of reduced production and increased operating costs during the first quarter. Cenovus says its profit amounted to nine cents per share for the three months [Read more]
XI Technologies: Roundtable on ARO emphasizes need for standardized approach to liability valuation
Each week, XI Technologies scans their 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. Last Thursday, April 18, XI Technologies had the honour to host more than 150 Canadian oil and gas senior leaders for a roundtable discussion on abandonment and reclamation liabilities. Panelists representing E&P operators, [Read more]
Cenovus delivers $1 billion of adjusted funds flow in Q1
Company continues to deleverage its balance sheet CALGARY, Alberta, April 24, 2019 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operating and financial performance in the first quarter of 2019, generating more than $1 billion of adjusted funds flow, $731 million of free funds flow and cash from operating activities of $436 million. The company’s excellent financial results were driven by strong operating performance, a significant narrowing of light-heavy [Read more]
TransGlobe Energy Corporation Announces an Operations Update
This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta, April 24, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) announces a Q1 operations update. All dollar values are expressed in US dollars unless otherwise stated. UPDATES Production averaged ~15.9 [Read more]