CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today the acceptance by the Toronto Stock Exchange (the "TSX") of Pembina's notice to commence a normal course issuer bid (the "NCIB") to purchase up to five percent of its outstanding common shares. Under the NCIB, purchases of common shares may be made through the facilities of the TSX, the New York Stock Exchange and/or alternative Canadian trading systems, commencing on March 2, 2021 [Read more]
Headlines
Alberta sees budget deficit narrowing to C$18 bln as oil prices recover
The province of Alberta on Thursday estimated its 2021/22 budget deficit will shrink to C$18.2 billion, as its economy starts to recover from the damage wrought by the coronavirus pandemic. Alberta's 2020/21 deficit stood at C$20.2 billion, compared with a C$24.2 billion deficit projected in August, as recovering crude oil prices help the province narrow its deficit. Still, the deficit is larger than the historical trend, reflecting the impact of pandemic spending. Finance minister [Read more]
Pembina Pipeline Corporation reports results for the fourth quarter and full year 2020
Full year results reflect the resilience of Pembina's diversified and highly contracted business; pre-pandemic adjusted EBITDA guidance achieved All financial figures are in Canadian dollars unless otherwise noted. This news release refers to certain financial measures that are not defined by Generally Accepted Accounting Principles ("GAAP"), including net revenue; adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"); cash flow from operating [Read more]
NuVista Energy Ltd. executes non-core divestitures, reduces debt significantly, and provides production and operations update
CALGARY, Alberta - NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce the divestiture of its non-core Charlie Lake and Cretaceous Unit assets (the "Wembley Assets") in the Wembley area, as well as selected water infrastructure assets (the "Infrastructure Assets") in the Wembley/Pipestone area, for total proceeds of $94 million prior to adjustments. There is no change to NuVista’s ownership in our core Montney assets in Pipestone, Wapiti, and the surrounding area, [Read more]
Imperial Oil reports one-billion-barrel drop in bitumen reserves at end of 2020
CALGARY - Imperial Oil Ltd. is cutting one billion barrels from its inventory of oilsands bitumen following a year marked by low oil prices and budget cutting amid the COVID-19 pandemic and a global price war between major oil producers. In a regulatory filing on Wednesday, the Calgary-based company says its proved plus probable bitumen reserves fell to 4.46 billion barrels as of Dec. 31, 2020, from 5.45 billion barrels on the last day of 2019, with most of the change due to "technical [Read more]
Oil hovers near 13-mth highs as storm hits U.S. output, Fed assures rates staying low
Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. U.S. West Texas Intermediate crude for April was at $62.80 a barrel, down 62 cents, 0.96%. Brent crude futures for April lost 57 cents, 0.86%, to $66.66 a barrel. Both contracts touched their highest since Jan. 8, 2020, earlier in the [Read more]
Remanufactured oilfield equipment products
When purchasing oilfield equipment, you need to consider a few critical factors, such as equipment life span, cost, availability, and production timeline. Oilfield equipment comes in a variety of conditions: New: Equipment that has never been used and is typically sold by the original equipment manufacturer. New Surplus: These products have never been used but may have been built some time ago, so they may not have the latest features and may show some cosmetic imperfections. This [Read more]
Kelt provides results of its oil & gas reserves evaluation effective December 31, 2020
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") is pleased to report on its oil & gas reserves and production for the year ended December 31, 2020. Kelt retained Sproule Associates Limited ("Sproule"), an independent qualified reserve evaluator to prepare a report on its oil and gas reserves. The report is effective as of December 31, 2020. The Company has a Reserves Committee which oversees the selection, qualifications and reporting procedures of the [Read more]
Petrus Resources announces year end 2020 financial, operating & reserves results; significant net debt reduction
CALGARY, Alberta - Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and twelve months ended December 31, 2020 and to provide 2020 year end reserves information as evaluated by Sproule Associates Limited ("Sproule"). The Company's Management's Discussion and Analysis ("MD&A") and audited consolidated financial statements are available on SEDAR (the System for Electronic Document Analysis and Retrieval) at [Read more]
Perpetual Energy Inc. reports fourth quarter and year-end 2020 financial and operating results and reserves
CALGARY, AB – Perpetual Energy Inc. ("Perpetual", or the "Company") is pleased to release its fourth quarter and year-end 2020 financial and operating results and a summary of the Company's year-end 2020 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. ("McDaniel"). A complete copy of Perpetual's audited consolidated financial statements, Management's Discussion and Analysis ("MD&A") and Annual Information Form for the year ended December 31, [Read more]