FORT MCMURRAY, Alta. - Parts of downtown Fort McMurray in northern Alberta were under an evacuation notice Tuesday as a wildfire whipped by winds began engulfing homes on the outskirts. The Rural Municipality of Wood Buffalo said people should leave immediately and head for a lodge about 20 kilometres north of the city. Residents were ordered to flee several neighbourhoods and a trailer park that had been evacuated on Monday was on fire, said Carina Van Heerde, a reporter with Fort [Read more]
Headlines
Devon Energy Reports First-Quarter 2016 Results
OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corp. (NYSE: DVN) today reported operational and financial results for the first quarter of 2016 and provided guidance for the second quarter and full-year 2016. Highlights Exceeded midpoint expectations for all production products Raised full-year production guidance by 3 percent Reduced LOE costs by 21 percent year over year Lowered 2016 operating cost outlook by $50 million Improved balance sheet strength with liquidity [Read more]
Pengrowth Announces Strong First Quarter Operational and Financial Results
CALGARY, ALBERTA--(Marketwired - May 3, 2016) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to announce its financial and operating results for the three months ended March 31, 2016. Pengrowth delivered strong first quarter operating and financial results, driven by its substantial hedge book and the low decline nature of its asset base. During the quarter, Pengrowth continued to curtail spending, manage costs and direct excess funds flow and net proceeds from its ongoing asset [Read more]
Amended Release: Baytex Reports Q1 2016 Results
CALGARY, ALBERTA--(Marketwired - May 3, 2016) - This release corrects and replaces the release sent for Baytex Energy Corp. at 7:30 AM EDT on May 3, 2016. The AECO Fixed Hedge Price ($/GJ) for 2016 in the table under the heading Risk Management has been corrected. The complete and corrected release follows. 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 [Read more]
Gibsons Reports Financial Results for First Quarter 2016
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]
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]