Highlights: First-quarter 2021 net earnings of $309 million ($1.16 per share diluted), cash from operating activities of $827 million and non-GAAP cash flow of $890 million Generated $540 million of non-GAAP free cash flow in the quarter and reduced total debt by $467 million to $6.4 billion Exceeded divestiture target with more than $1.1 billion in announced asset sales; well ahead of year-end 2022 target; previously announced Duvernay asset sale closed today Leveraged dynamic [Read more]
Headlines
Altura Energy Inc. announces the closing of a previously announced asset disposition
CALGARY, AB - As disclosed in the Corporation's January 29, 2021 news release, Altura Energy Inc. ("Altura" or the "Corporation") (TSXV: ATU) amended the payment schedule in respect to the timing of the second transaction in the December 4, 2019 definitive agreement with a private company. On April 27, 2021, Altura closed the sale of a 0.6875% working interest in the Corporation's production, wells, lands and facilities for cash of $437,500. The disposition schedule for all transactions net of [Read more]
Vermilion Energy Inc. announces results for the three months ended March 31, 2021
CALGARY, AB - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three months ended March 31, 2021. The unaudited interim financial statements and management discussion and analysis for the three months ended March 31, 2021 will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml, and on [Read more]
Yangarra announces 2021 first quarter financial and operating results
CALGARY, AB - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX: YGR) announces its financial and operating results for the three months ended March 31, 2021. During the first quarter, Yangarra continued its disciplined approach to controlling costs on operations and capital spending by successfully drilling seven wells and completing eight wells below previous guidance on cost estimates. The emphasis on a profitable growth strategy resulted in delays to bringing these wells on [Read more]
Brookfield Infrastructure says takeover target Inter Pipeline denying data access
CALGARY - In the latest shot fired in the battle for Inter Pipeline Ltd., Brookfield Infrastructure Partners LP charges it hasn't been granted access to its target's data room despite its hostile takeover offer made in February and "clear desire" to participate in the company's strategic review process. Brookfield said Calgary-based Inter's update last week on contracting volumes from its under-construction Heartland Petrochemical Complex northeast of Edmonton "raises many more questions than [Read more]
Oil rises on optimistic demand outlook; uncertainties remain
Oil prices rose on Wednesday amid optimistic forecasts of global fuel demand recovery, while the rapid spread of COVID-19 infections in India and a bigger-than-expected build in U.S. crude stocks capped gains. U.S. West Texas Intermediate (WTI) crude futures rose 61 cents, or 0.95%, to $63.67 a barrel, after gaining 1.7% on Tuesday. Brent crude futures rose 44 cents, or 0.65%, to $67.03 a barrel, following a 1.2% gain from Tuesday. An OPEC+ decision to stick to plans for a phased [Read more]
Enbridge partners with Walker Industries and Comcor Environmental to develop renewable natural gas projects across Canada
CALGARY, AB - Today, Enbridge Inc. (Enbridge) (TSX: ENB) (NYSE: ENB), Walker Industries and Comcor Environmental, announced a partnership to jointly develop renewable natural gas (RNG) projects across Canada. The partnership aims to transform landfill waste into carbon-neutral energy, which will be injected into local natural gas distribution networks across Canada, reducing the overall carbon emission of the gas supply used to heat homes, power businesses, and fuel vehicle fleets. The [Read more]
The time value of data-driven operational risk management
Efficient and effective operational risk management processes and controls drive better business decisions in less time. Unfortunately, the relationship between operational risk management and data storage, integration, and access is often misunderstood. The good news is that companies are taking steps toward more data-driven approaches to their risk-based decisions. To its credit, the industry has started to make the implementation of better operational risk management tools and processes [Read more]
Barnwell of Canada, Limited – Divestiture of non-core oil and gas producing assets
Barnwell of Canada, Limited (“BOCL” or the “Company”) has initiated a process to divest of the Company’s non-core, largely non-operated, conventional light oil and natural gas assets which averaged ~140 bbl/d and ~350 Mcf/d and generated annualized net operating income of $1.0 million (the “Properties”) to BOCL’s working interest in Q4/2020. ARCO Capital Partners Inc. has been retained as financial advisor to assist in this sales process. The Properties include: Wood River 21.15% [Read more]
Leucrotta announces Q4 2020 financial and operating results
Calgary, Alberta - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2020. All dollar figures are Canadian dollars unless otherwise noted. FINANCIAL RESULTS Three Months Ended December 31 Year Ended December 31 ($000s, except per share amounts) 2020 2019 % Change 2020 2019 % Change Oil and [Read more]