CALGARY, ALBERTA--(Marketwired - May 3, 2016) - All financial figures are in Canadian dollars Gibson Energy Inc. ("Gibsons" or the "Company"), (TSX:GEI), announced today operating and financial results for the three months ended March 31, 2016. Highlights: Segment Profit1 was $80 million in the first quarter of 2016, buoyed by the Infrastructure segment's year over year volume and revenue increases at both of the Company's key storage hubs in Edmonton and Hardisty; Pro Forma [Read more]
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Valparaiso Energy Inc. Announces Appointment of Officers, a Private Placement of Common Shares and Grant of Stock Options
CALGARY, ALBERTA--(Marketwired - May 3, 2016) - Valparaiso Energy Inc. (the "Corporation") (NEX:VPO.H) is pleased to announce the following: Appointment of Officers - Effective immediately, Mr. Marc Branson is appointed President and Chief Executive Officer of the Corporation. He was previously appointed as a Director. Valparaiso is excited to have Mr. Branson on board in this capacity as his experience and skills will be a valuable asset in determining new projects for the [Read more]
As OPEC Infighting Continues, U.S. Becomes Energy Swing Producer
HOUSTON, May 3, 2016 /PRNewswire/ -- When OPEC members couldn't agree at their April meeting to cap oil output in an effort to boost prices, did it signal the end of the cartel's reign as the world's energy swing producer -- leaving the door open for American shale producers to take over the crown? It's a distinct possibility, according to Dan K. Eberhart, CEO, Canary, LLC and an expert on U.S. and international energy policy. For decades, OPEC has set the global price of oil by [Read more]
How junior producers are finding creative ways to address LLR concerns and optimize assets
The current downturn in the energy sector has left many upstream junior companies looking for ways to cut costs, optimize operations and maintain a strong balance sheet. Part of this process for many companies has involved laying off valued employees and reducing salaries. But one of the most pressing concerns facing Albertan oil and gas companies is the detrimental impact the Alberta Energy Regulator’s Licensee Liability Rating (LLR) program has had on junior explorers. An unfortunate side [Read more]
Kelt Closes $90.0 Million Convertible Debenture Financings
CALGARY, AB--(Marketwired - May 03, 2016) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") is pleased to announce that it has closed its previously announced convertible debenture financing by way of a short form prospectus on a bought deal basis by completing the sale of $75.0 million principal amount of 5.00% convertible subordinated unsecured debentures (the "Debentures") at a price of $1,000 per Debenture (the "Offering"). The Offering was completed through a syndicate of [Read more]
Have the Right Game Plan: Optimize Your Strategy with LMR/LLR Forecasting
Sproule Webinar Series Whether managing your firm’s LMR/LLR or considering new investment opportunities, understanding the true liability of an asset is vital in today’s economic environment. Incorporating LMR/LLR forecasting into your workflow enables the development of effective strategies for today, and tomorrow. Designed for board members, executives, business and technical managers and investors, this 45-minute webinar will provide practical guidance for managing and optimizing your [Read more]
Baytex Reports Q1 2016 Results
CALGARY, ALBERTA--(Marketwired - May 3, 2016) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) reports its operating and financial results for the three months ended March 31, 2016 (all amounts are in Canadian dollars unless otherwise noted). "We continue to meet the challenges brought on by this low oil price environment head on. During the first quarter, we announced amendments to our bank credit facilities that provide us with increased financial flexibility and we shut-in low or [Read more]
Encana posts US$379 million Q1 loss, says cost-cutting on track to meet target
CALGARY - Calgary-based Encana Corp. (TSX:ECA) reported Tuesday a US$379-million net loss for the first quarter mainly due to writedowns and lower oil and gas prices as revenue fell 40 per cent compared with the same time last year.A year ago, the oil and gas producer had a US$1.71-billion loss, also mainly due to asset writedowns.The company, which reports in U.S. dollars, also said it is taking a $31-million restructuring charge to account for a 20 per cent reduction in its workforce in [Read more]
Encana Delivers Basin-Leading Well Performance and Lowers Costs in the First Quarter
CALGARY, AB--(Marketwired - May 03, 2016) - Encana Corporation (TSX: ECA) (NYSE: ECA) Encana built on its track record of strong operational and financial performance through the first quarter. The company delivered basin-leading well results and drilling and completions costs in its core four assets. Encana took decisive steps to further lower its corporate costs and reduce long-term debt. Highlights include: company on track to meet or beat 2016 guidance announced in February [Read more]
BOE Report to launch Podcast
We are pleased to announce the launch of the BOE Report Podcast. Our podcast will feature interviews with leaders in the North American oil and gas industry and lively discussions among the BOE Report team. Stay tuned for our first show's lineup! For more information, or if you would like to participate in a show, please contact our editor James Rose. UPDATE: We have rescheduled the podcast due to an unforeseen scheduling conflict. Tune in next week for our first show! [Read more]