CALGARY, Alberta - Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) provides an update regarding its dividend policy. Significant price volatility for crude products in the Canadian energy sector has had a major impact on the industry, the province and the country. The volatility is a result of slowing international economic growth and Canada’s lack of access to international markets outside of the United States. These and other factors have significantly impacted West Texas [Read more]
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Keyera Announces Executive Appointments
CALGARY - The Board of Directors of Keyera Corp. (TSX: KEY) ("Keyera") is pleased to announce the appointment of Dean Setoguchi to the role of President and Chief Commercial Officer. Mr. Setoguchi is currently Senior Vice President and Chief Commercial Officer and in his new expanded role he will assume responsibility for corporate development and strategy. David Smith will continue to lead Keyera as Chief Executive Officer and a member of the Board. These changes are effective March 1, [Read more]
Oil rises for a second day as OPEC+ weighs coronavirus action
Oil futures rose for a second day on Thursday boosted by potential OPEC+ action to counter oil demand loss from the coronavirus outbreak and by optimism that trade tensions between the world's two biggest economies were easing. A technical committee advising the Organization of the Petroleum Exporting Countries and its allies led by Russia, known as OPEC+, may reach consensus on Thursday on the need to further cut oil output by at least 500,000 barrels per day (bpd), two sources told [Read more]
Sproule sees decommissioning obligations as an Alberta opportunity
Sproule presentation builds on PSAC Workforce Study and proprietary analysis to highlight how responsible decommissioning can create a new multibillion-dollar job opportunity for Alberta. Download Now [Read more]
Obsidian Energy Releases 2019 Reserves Results
CALGARY, Feb. 6, 2020 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to release its year-end 2019 independent reserves evaluation. Stephen Loukas, Interim President and CEO commented, "We are pleased to announce our 2019 reserve results which demonstrates the strength of our dedicated Cardium development strategy, allowing for our reserve auditors to recognize the performance and improved cost efficiency of the [Read more]
Advantage Announces Record Production, Strong Reserves Growth with 212% PDP Reserves Replacement and 2.2 PDP Recycle Ratio
2019 Year-End Reserves & Operating Results (TSX: AAV) CALGARY, Feb. 5, 2020 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce its 2019 year-end reserve evaluation by Sproule Associates Limited ("Sproule"), and a summary of 2019 operating results. During 2019, Advantage achieved several important milestones in our liquids-focused transition, as demonstrated by our reserves additions and operating results. These achievements have [Read more]
Suncor Energy reports fourth quarter 2019 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars, and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for Libya, which are presented on an economic basis. Certain financial measures referred to in [Read more]
Suncor Energy declares increased dividend and announces additional share repurchase program
All financial figures are in Canadian dollars. CALGARY, Alberta, Feb. 05, 2020 (GLOBE NEWSWIRE) -- Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.465 per share on its common shares, payable March 25, 2020 to shareholders of record at the close of business on March 4, 2020. This dividend represents an approximate 11% increase over the prior quarter and marks 18 years of consecutive annualized dividend increases. The dividend increase is supported by sustainable, [Read more]
Baytex Announces Closing of US$500 Million Private Placement Offering of Senior Notes
CALGARY, Alberta - Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announced today the closing of its private placement offering (the “Offering”) of US$500 million aggregate principal amount of senior unsecured notes due 2027 (the "Notes"). The Notes were issued at par, bear interest at a rate of 8.75% per annum and mature on April 1, 2027. The Notes will pay interest semi-annually in arrears. Baytex intends to use the net proceeds from the Offering and its existing unutilized credit facilities [Read more]
Heavy discount narrows to fresh 2-1/2-month low
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude narrowed on Wednesday to a fresh 2-1/2-month low, driven by dwindling inventories. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $17.75 per barrel below WTI, according to NE2 Canada Inc, narrower than Tuesday's settle of $18.50 under. The discount was the smallest since mid-November. Alberta oil inventories have shrunk since December as rail [Read more]