CALGARY, Alberta - Return Energy Inc. d.b.a. Spartan Delta Corp. ("Spartan" or the "Company") (RTN: TSXV) is pleased to announce that it has closed its previously announced non-brokered equity financing. The Company has issued 2,945,500,000 subscription receipts (the "Subscription Receipts") at a price of $0.02 per Subscription Receipt for aggregate gross proceeds of $58.91 million (the "Subscription Receipt Offering"). In addition, the Company has entered into irrevocable subscription [Read more]
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Enerplus announces first quarter 2020 results
All financial information contained within this news release has been prepared in accordance with U.S. GAAP, except as noted under "Non-GAAP Measures". 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" at the conclusion of this news release. A full copy of Enerplus' First Quarter 2020 Financial Statements and MD&A are available on the Company's [Read more]
Ovintiv reports first quarter financial and operating results
Flexibility Enables Dynamic Response to Preserve Financial Strength Significant Cost Savings and Capital Efficiencies Enhance 2020 and 2021 Actions Taken in Response to Current Low Oil Price Environment: Second quarter planned capital investments reduced 60%. Company doubles its initial estimate of 2020 cash cost savings to $200 million, majority durable into future years. Completed well costs expected to be 20% better than 2019, driven by sustainable efficiency gains. 2021 [Read more]
Pembina Pipeline Corporation reports first quarter results
First quarter results reflect the resilience of Pembina's diversified and integrated business All financial figures are in Canadian dollars unless noted otherwise. CALGARY - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the first quarter of 2020. Financial and Operational Overview 3 Months Ended March 31 ($ millions, except where [Read more]
Crew Energy Inc. announces first quarter 2020 financial and operating results
CALGARY - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") today announces our operating and financial results for the three month period ended March 31, 2020. Crew's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three month period ended March 31, 2020 are available on Crew's website and filed on SEDAR at www.sedar.com. Q1 2020 HIGHLIGHTS Production of 23,894 boe per day: Volumes were 6% higher than Q4/19 and 3% higher than [Read more]
Cardinal Energy Ltd. announces first quarter 2020 financial results
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to announce its operating and financial results for the first quarter ended March 31, 2020. Selected financial and operating information is shown below and should be read in conjunction with Cardinal's unaudited condensed interim financial statements and related Management's Discussion and Analysis for the three months ended March 31, 2020 which are available at www.sedar.com and on our website at [Read more]
Baytex announces first quarter 2020 financial and operating results
CALGARY, Alberta - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three months ended March 31, 2020 (all amounts are in Canadian dollars unless otherwise noted). “As an industry, we are facing an unprecedented challenge due to the effects of COVID-19 and the significant degradation and volatility in global crude oil prices. In response, Baytex has moved to ensure the safety and health of our people and to maintain liquidity, minimize capital [Read more]
Inter Pipeline warns of higher costs, delays for Alberta petrochemical project
CALGARY - Inter Pipeline Ltd. is warning that the cost of building its Heartland Petrochemical Complex has risen by about half a billion dollars and its in-service date may be delayed due to factors including the impact of the COVID-19 pandemic. When announced in December 2017, the cost of the plant northeast of Edmonton designed to convert plentiful Alberta propane into polypropylene plastic pellets for export to manufacturers was estimated at $3.5 billion. The Calgary-based company says [Read more]
Heavy discount narrows as storage pressure eases
Canadian heavy crude's discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Thursday, as global oil prices slipped and data showed supply cuts by major oil sands producers tempered storage builds. Crude oil inventories in Western Canada stood around 33.8 million barrels as of April 24, 5.7 million barrels lower than levels in January and about 3.3 million below year-ago levels, data provider Genscape said. Western Canada Select (WCS) heavy blend crude for June [Read more]
Trudeau says he does not share view that oil and gas sector is beyond saving
OTTAWA - Prime Minister Justin Trudeau says he does not agree that oil and gas in Canada is dead. Bloc Quebecois Leader Yves-Francois Blanchet and Green parliamentary leader Elizabeth May both claim the oil price shock that has devastated Canada's oil patch in recent weeks should be the final sign that the industry cannot and should not be saved. Both would rather the government pour economic recovery money into transitioning workers in Alberta's oil industry to renewable energies [Read more]