EL DORADO, Ark. - In recognition of the extraordinary drop in crude oil prices, independent oil and natural gas exploration and production company, Murphy Oil Corporation (NYSE: MUR), is closing its legacy headquarters office in El Dorado, Arkansas, home to approximately 80 employees, as well as its longstanding office in Calgary, Alberta, Canada, home to approximately 110 employees. Consequently, it will be consolidating all worldwide staff activities to its existing office location in Houston, [Read more]
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Inter Pipeline first quarter 2020 financial and operating results
CALGARY - Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) today announced financial and operating results for the three-month period ended March 31, 2020. First Quarter Highlights Funds from operations (FFO) totalled $208 million Oil sands transportation FFO of $155 million, a five percent increase over first quarter 2019 Net income for the quarter was $89 million Declared cash dividends of $181 million Quarterly payout ratio* of 87 percent Total pipeline throughput [Read more]
Oil gains as U.S. inventories grow less than feared while coronavirus slashes demand
Oil prices rose on Thursday after U.S. inventories swelled less than expected, but market watchers predicted further gains could be capped by the ongoing glut in crude supplies as the coronavirus pandemic crushes fuel demand. U.S. oil gained $1.80, or 7.11%, to 27.29 a barrel, after declining more than 2% in the previous session. Brent crude was up by $1.55, or 5.2%, to $31.38 a barrel 0044 GMT, after falling earlier in the Asian session and dropping 4% on Wednesday. "The latest [Read more]
Canadian Natural looks to cut spending, reports $1.28B first-quarter loss
CALGARY - Canadian Natural Resources Ltd. said it is looking to cut its costs this year by $745 million compared with last year as it reported a first-quarter loss of $1.28 billion. The oilsands company said it was also cutting its capital spending by an additional $280 million on top of its cut of more than $1 billion announced in March due to the plunge in oil prices as a result of the pandemic and a price war between Saudi Arabia and Russia. Canadian Natural now expects capital spending [Read more]
A&D enters the digital age with Oil Prospect Videos
Do you have assets you want to sell and would like to be part of a new disruptive technology? Oil Prospect Videos is a website designed to revolutionize the A&D industry. Whether you are a prospect generator, a mineral owner or a multinational oil company, Oil Prospect Videos can get your asset sold. Rather than rely on old text and image-based websites- enter the digital age! Record a video of yourself presenting your asset, prospect, minerals or opportunity and allow us to upload it [Read more]
Enbridge reports strong first quarter 2020 results; re-affirms outlook
CALGARY - Enbridge Inc. (Enbridge or the Company) (TSX:ENB) (NYSE:ENB) today reported first quarter 2020 financial results and provided a quarterly business update. First Quarter 2020 Highlights (all financial figures are unaudited and in Canadian dollars unless otherwise noted) First quarter GAAP loss of $1,429 million or $0.71 loss per common share, compared to GAAP earnings of $1,891 million or $0.94 per common share in 2019, impacted by certain unusual and infrequent factors, [Read more]
InPlay Oil Corp. announces first quarter 2020 financial and operating results
CALGARY, Alberta - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2020. InPlay’s condensed unaudited interim financial statements and notes, as well as management’s discussion and analysis (“MD&A”) for the three months ended March 31, 2020 will be available at “www.sedar.com” and our website at “www.inplayoil.com”. Financial and Operating Results: (CDN) ($000’s) [Read more]
ELM Inc. your turnkey contractor for the Alberta Site Rehabilitation Program (ASRP)
ELM Inc. is uniquely positioned to help energy companies wishing to apply to the Alberta Site Rehabilitation Program (ASRP). We are the industry-leading Canadian service company, offering single source environmental liability management services in the areas of well abandonment, surface equipment & pipeline decommissioning, remediation & reclamation. With over 30 years of direct field execution and program management experience, ELM leads with a highly technical team, seasoned [Read more]
Edge Liability Risk Management announces major $3.7 million abandonment and reclamation program across 700 wells and facilities
On April 30, 2020 Edge Liability Risk Management (“Edge”) completed a major abandonment and reclamation transaction that will see Edge commit to cleaning up an estimated $3,700,000 worth of environmental liabilities. Edge has taken an ownership interest in over 700 wells and facilities across Alberta and Saskatchewan (the “Assets”) for the purpose of working with industry partners to fulfill all future Asset Retirement Obligations (“ARO”). The Edge model allows clients and partners to instantly [Read more]
Kelt Reports Financial and Operating Results for the Three Months Ended March 31, 2020
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") reports its financial and operating results to shareholders for the first quarter ended March 31, 2020. In addition, Kelt is providing a corporate update in response to the current market conditions resulting from the COVID-19 pandemic. The Company's financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended March 31 (CA$ thousands, except as otherwise [Read more]