CALGARY, Alberta, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announces that its Board of Directors has approved a 2019 capital budget of $550 to $650 million, which is designed to generate average annual production of 93,000 to 97,000 boe/d. Commenting on the announcement, Ed LaFehr, President and Chief Executive Officer, said: “As we enter 2019, our top priority is disciplined capital allocation across our strong portfolio of assets. We will focus [Read more]
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Obsidian Energy Announces an Increase in its Syndicated Credit Facility and Provides an Operational Update
CALGARY, Dec. 17, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that its semi-annual borrowing base redetermination has resulted in a $30 million increase to its syndicated credit facility to $470 million. Additionally, Obsidian Energy provides an update on our latest Cardium drilling activity. Increased Syndicated Credit Facility The Company has a reserve-based syndicated credit facility, with an underlying [Read more]
Painted Pony Announces Fully-Funded 2019 Capital Budget
CALGARY, Dec. 17, 2018 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) announces a 2019 capital program focused on preserving financial flexibility and maintaining capital discipline. The Corporation's ongoing risk management program, which includes hedging using both financial and physical contracts, combined with diversified transportation arrangements allows Painted Pony to optimize the 2019 capital program which will be fully funded by internally generated [Read more]
Pipelines in 2018: A Hot Topic
From delays in pipeline project approvals to oil pricing impacts stemming from pipeline capacity constraints – to say pipelines have been in the news this year would be an understatement. And with those headlines, we are seeing more and more Canadians engaging in conversations about where our energy comes from, how it is transported, what we use it for and what the future of energy in Canada looks like. As we reflect on the year, the Canadian Energy Pipeline Association (CEPA) wanted to [Read more]
Coming To Canada’s Energy Capital, Calgary In February 2019: North America’s Only Well Site Facilities Onshore Congress
Encana, Caltex, AER, Govt. of Canada & MELA Open The Speaker Line-Up After months of research with the full spectrum of unconventional operators and leading service providers in Western Canada, American & Canadian Business Conferences long-running Well Site Facilities Onshore conference comes to Calgary in February, with a program designed to deliver practical, real-world insight on the region’s greatest facilities design and engineering challenges. There has been a significant [Read more]
Response to Toronto Star’s column calling for oil sands to shut down
This article is a response to a Toronto Star piece. The following letter was submitted to the Star, but the editorial staff refused to publish: One of the problems with writers choosing the harshest, most catastrophic-sounding language when discussing climate change is those word-choices can contribute to a sense of defeatism - of giving up – among readers. Tom Walkom’s recent column, “Climate fears are real, so oil sands must close,” is an example over-the-top rhetoric that serves nobody [Read more]
TransGlobe Energy Corporation Announces a Q4 2018 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, Dec. 17, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (AIM & TSX: “TGL” & NASDAQ: “TGA”) (“TransGlobe” or the “Company”) announces an interim fourth quarter update. All dollar values are expressed in US dollars unless otherwise [Read more]
Speaker at rally says Alberta oil ‘puts tofu on the table in Toronto!’
GRANDE PRAIRIE, Alta. - A rally in support of Alberta's oil industry drew hundreds of supporters who cheered as speakers delivered a message that the rest of Canada needs to be thankful for the prosperity the province provides. "We aren't just a monumental cash cow for the government. We provide opportunities for families across the country," Bernard Hancock, known as Bernard the Roughneck, told the crowd at a park in Grande Prairie, Alta., on Sunday. "It puts chicken in the pot [Read more]
Quebecers criticize western oil but buy more gasoline, SUVs: report
MONTREAL - Quebec's premier is quick to reject "dirty" oil from Western Canada in favour of hydro power, but new data indicate the province's citizens are buying record amounts of gasoline and increasingly purchasing trucks and bigger homes. Quebecers are widely seen across the country as environmentally conscious, but per capita, they are some of the highest consumers of energy on the planet, according to a report prepared by researchers at Universite de Montreal's business school. [Read more]
Paris on fire and Donald Trump – both orange on top and both brought to you by environmental extremism
Let’s take a step back from the minutiae of the daily grind, and a step above what’s trending. Here in a nutshell is where the world is today. Record low interest rates have led to a debt binge. Industrialized nations are eyeball deep in debt. Some of the borrowing was to claw out of the financial crisis of 2008, but there are other reasons too. One of the other major contributors to this wealthy-country debt load is the push, through subsidies and direct payments, to hasten the ascendancy of [Read more]