CALGARY - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is revising its 2020 capital spending by approximately 35 percent in response to the recent decline in commodity prices. This conservative and disciplined approach demonstrates the Company's flexibility, focus on returns and prudent risk management to protect its balance sheet. "Our original plans for 2020 centered on returns, capital discipline, cost savings initiatives and balance sheet [Read more]
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Vermilion Energy Inc. Announces Reductions to Capital Program and Monthly Dividend
CALGARY - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) announces that its Board of Directors has approved a reduction to our 2020 capital budget of $80 to $100 million and a reduction in our monthly dividend from $0.115 CDN per share to $0.02 CDN per share in response to the pronounced decline in global commodity prices. The new dividend amount will be implemented in the April dividend payable in May 2020. Following the release of our Q4 2019 [Read more]
Enerplus Announces Reduced 2020 Capital Budget, Prioritizing Balance Sheet Strength and Free Cash Flow
All financial information contained within this news release has been prepared in accordance with U.S. GAAP. This news release includes forward-looking statements and information within the meaning of applicable securities laws. Readers are advised to review the "Forward-Looking Information and Statements" and "Non-GAAP Measures" at the end of this news release for information regarding the presentation of the financial and operational information in this news release as well as the use of [Read more]
Questerre reports year-end reserves and resources
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY - Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the results of its December 31, 2019 Reserves Assessment and Evaluation of its oil and natural gas properties (the “Report”), as evaluated by McDaniel & Associates Consultants Ltd.(“McDaniel”) with an effective date of December 31, 2019, [Read more]
Obsidian Energy Announces New Senior Note Maturity Dates, Amendments to our Financial Covenants and Agreement with Landlord on Renewed Lease Terms
CALGARY - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") announces further to our press release on March 4, 2020 that we have reached an agreement with our noteholders to amend the senior note agreements to align all note maturity dates to November 30, 2021. In addition, the Company has reached an agreement with its building landlord on renewed lease terms for its Calgary office space. Specifically, the senior note maturities have [Read more]
U.S. to fill strategic oil reserve ‘to the top,’ Trump says
President Donald Trump said on Friday that the United States would take advantage of low oil prices and buy a large quantity of crude to fill the nation's emergency crude oil reserve, in a move aimed to help energy producers struggling from the price plunge. "Based on the prices of oil, I've ... instructed the secretary of energy to purchase, at a very good price, large quantities of crude oil for storage in the U.S. strategic reserve," Trump told reporters at the White House. "We're going to [Read more]
Zargon Oil & Gas Ltd. provides 2019 fourth quarter and full year financial results
CALGARY, Alberta, March 13, 2020 (GLOBE NEWSWIRE) -- Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) has released its 2019 fourth quarter and full year financial results. Highlights from the fourth quarter and year ended Dec. 31, 2019 are provided below: HIGHLIGHTS FROM THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2019 For calendar 2019, funds flow was $6.15 million ($0.28 per basic share) compared to funds flow from operating activities of a negative $0.54 million (a [Read more]
Toscana Energy Announces 2019 Reserves
CALGARY, Alberta - Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX: TEI) announces the Corporation’s 2019 year-end reserves. 2019 Reserves Highlights Proved Developed Producing reserves represent 60% of Proved Reserves. Proved reserves represent 75% of Proved plus Probable Reserves. Corporate Reserves: The reserves data set forth below is based upon independent reserve assessments and evaluations prepared by Sproule Associates Limited (“Sproule”) dated February [Read more]
Heavy discount widens as global prices rebound
Canadian heavy crude's discount widened versus U.S. benchmark West Texas Intermediate (WTI) oil on Friday, as global prices rebounded. Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, traded at $13 per barrel below WTI, according to NE2 Canada Inc, wider than Thursday's settle of $12 under. The differential had been narrower this week as global prices plunged, and net Canadian prices approached break-even levels for some producers, a trader said. A [Read more]
Canada weekly rig count down 28 to 175
Canada’s fleet of active drilling rigs shrank from 203 to 175 since last week according to data from Baker Hughes. Total drilling count was 175 at March 13th. 115 rigs were drilling for oil; 60 for natural gas. The drilling activity in Alberta fell from 139 to 127 since last week. Saskatchewan’s drilling dropped from 43 to 29 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]