CALGARY, Alberta - Commenting on the Company's first quarter 2020 results, Tim McKay, President of Canadian Natural stated, "Through the first quarter of 2020 and in response to the outbreak of the novel coronavirus ("COVID-19"), we have taken proactive and effective steps to ensure the safety and health of our employees, service providers and the communities we work in, while maintaining safe, reliable operations. We currently have approximately 6,000 employees working remotely and [Read more]
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Advantage announces first quarter 2020 results, strong asset performance, and revised capital program
CALGARY - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce solid first quarter 2020 operating results including production of 46,458 boe/d (up 3% from first quarter 2019) and record liquids production of 3,714 bbls/d (up 83% from first quarter 2019) with continued low operating costs of $2.28/boe. Production from new wells at Progress and Pipestone/Wembley is meeting or exceeding expectations, and performance of the foundational assets at Glacier and [Read more]
Athabasca Oil Corporation announces Q1 2020 results
CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its operating and unaudited consolidated financial results for the three months ended March 31, 2020. Operations Highlights Q1 Production: ~36,550 boe/d including ~28,300 bbl/d in Thermal Oil & ~8,250 boe/d in Light Oil. Leismer: Q1 production of ~19,800 bbl/d supported by strong results at Pad 7. Placid Montney: Encouraging initial results from 10 wells that were placed [Read more]
ARC Resources Ltd. reports first quarter 2020 financial and operational results
CALGARY - (ARX - TSX) ARC Resources Ltd. ("ARC" or the "Company") hereby reports its first quarter 2020 financial and operational results. ARC's unaudited condensed interim financial statements and notes ("financial statements") and ARC's Management's Discussion and Analysis ("MD&A") as at and for the three months ended March 31, 2020 are available on ARC's website at www.arcresources.com and on SEDAR at www.sedar.com. In March 2020, in response to the rapid decline in global commodity [Read more]
Gear Energy Ltd. announces first quarter 2020 operating results
CALGARY - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is providing the following first quarter operating update to shareholders. Gear's Interim Condensed Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended March 31, 2020 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Three months ended (Cdn$ thousands, except per share, share and per boe amounts) Mar 31, [Read more]
Pine Cliff Energy Ltd. Announces First Quarter 2020 Results and Annual General Meeting Update
Calgary, Alberta - Pine Cliff Energy Ltd. (TSX: PNE) ("Pine Cliff" or the "Company") is pleased to announce the filing of its first quarter financial and operating results. Included in the filings were Pine Cliff's unaudited interim condensed consolidated financial statements and related management's discussion and analysis for the three months ended March 31, 2020 (the "Q1-Report"). Selected highlights are shown below and should be read in conjunction with the Q1-Report. First Quarter 2020 [Read more]
Tourmaline announces strong Q1 2020 results, reduces 2020 budget to maintenance capital, reconfirms 2020 dividend
CALGARY - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the first quarter of 2020 and provide updates regarding 2020 budget and dividend. HIGHLIGHTS Q1 2020 cash flow(1) was $283.7 million ($1.05/diluted share) on Q1 E&P capital spending of $306.2 million. Q1 2020 production averaged a record 308,349 boepd, a 5% increase over Q1 2019 (1,475 mmcfpd natural gas and 62,569 bpd oil, condensate, [Read more]
Heavy discount widens as oil glut grows
Canadian heavy crude's discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday, as rising inventories offset hopes for a recovery in fuel demand that has been pummeled by the coronavirus pandemic. Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, traded at $5.50 per barrel below WTI, according to NE2 Canada Inc, wider than Tuesday's settle of $4.85 under. U.S. crude stocks and distillate inventories rose while gasoline [Read more]
Painted Pony provides an operational update and first quarter 2020 financial and operating results
CALGARY, Alberta - Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation”) (TSX: PONY) is pleased to announce first quarter 2020 financial and operating results. HIGHLIGHTS: Averaged strong first quarter 2020 production volumes of 319 MMcfe/d (53,141 boe/d) which is 18% higher than fourth quarter 2019 production of 271 MMcfe/d (45,173 boe/d). Realized an average natural gas price of $2.30/Mcf, 13% higher than the average AECO 5A daily spot price of $2.03/Mcf, and a combined [Read more]
Canada’s Imperial Oil says 50 birds died after landing on its tailings ponds
About 50 birds have died in Canada's oil heartland of Alberta after landing on tailings ponds at Imperial Oil's Kearl Lake site, the integrated energy company said on Tuesday. Since April 26, there have been several days when more than more than 100 birds - mostly grebes and shorebirds - have landed on tailings ponds, a spokesman for the company told Reuters. Over this period, about 60 oiled birds have been collected, of which 50 have died, the spokesman said. Partially oiled birds are [Read more]