Oil prices fell more than 1% on Thursday ahead of an OPEC meeting in which Saudi Arabia is expected to push the group and its allies including Russia to agree to further output cuts to support the market. Prices were also supported by a lower-than-expected rise in crude oil inventories in the United States, alleviating some concerns of oversupply in the world's biggest oil consumer. U.S. West Texas Intermediate (WTI) was down by 61 cents, or 1.2%, at $46.55 per barrel. Brent crude [Read more]
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Column: Forward into a New Decade of Canadian Vulnerability Op Ed
Canadians used to brag that putting a Canadian flag on their backpacks in Europe guaranteed a warm and friendly reception from locals across Europe. Canada enjoyed a cheerful innocence in contrast to the “ugly American” stereotypes that resonated around the world. We seemed left out of the grimy world of geopolitics – playing the “good guys”. We were the UN peacekeepers in blue berets, maintaining peace and security and protecting human rights around the globe for many years- setting an example [Read more]
Tamarack Valley Energy Ltd. Announces 2019 Financial Results, Reserves Information and Appointment of Chief Financial Officer
Calgary, Alberta - Tamarack Valley Energy Ltd. (TSX: TVE) ("Tamarack" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2019 and the results of its independent oil and gas reserves evaluation as of December 31, 2019, prepared by GLJ Petroleum Consultants Ltd. ("GLJ") (the "GLJ Report"). Selected financial, operational and reserves information is outlined below and should be read with Tamarack's audited consolidated [Read more]
Crescent Point Announces 2019 Results and Reserves
CALGARY - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2019. KEY HIGHLIGHTS Successfully completed 2019 program on budget, demonstrating strong operational execution and capital discipline. Reduced net debt by approximately $1.25 billion in 2019, or $1.75 billion including closing of infrastructure sale in January 2020. Realized over $170 million of [Read more]
Crescent Point Receives Approval for Normal Course Issuer Bid
CALGARY - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce the Toronto Stock Exchange ("TSX") has accepted its notice to implement a normal course issuer bid ("NCIB") to purchase, for cancellation, up to 36,884,438 common shares, or seven percent of the Company's public float, as at February 28, 2020. The NCIB is scheduled to commence on March 9, 2020 and is due to expire on March 8, 2021. Purchases of Crescent Point's common shares [Read more]
Seize the chance to talk to top business schools in Calgary on 26th March
Do you have the drive to excel in business? Seize the opportunity to meet some of the world’s top business schools in Calgary. Meet admissions professionals in person and find the programme that is best suited to take your career to the next level. Why is an MBA worth it? The MBA is a game-changing qualification. It will not only help you master core business principles with both breadth and depth, but also nurture the soft skills that are in high demand by employers today. The MBA is [Read more]
Canadian Natural Resources Limited Announces 2019 Fourth Quarter and Year End Results
CALGARY, Alberta - Commenting on the Company's 2019 results, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, "2019 marked the 30th anniversary of Canadian Natural as an Exploration and Production ("E&P") company. Over the past 3 decades, our unwavering focus on returns and free cash flow generating assets has driven significant growth and high returns for our shareholders. Today, we are set up better than ever with a large, diversified portfolio underpinned by long life low [Read more]
MEG Energy announces full year 2019 free cash flow of $528 million, debt repayment of $501 million and 18% year over year reduction in G&A expense
All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY - MEG Energy Corp. (TSX:MEG, "MEG" or the "Corporation") reported its full year 2019 operational and financial results. Highlights include: Free cash flow of $528 million driven by adjusted funds flow of $726 million ($2.41 per share) and disciplined capital spend of $198 million; Bitumen production volumes of 93,082 [Read more]
Peyto Posts 20th Straight Year of Profitability
CALGARY, Alberta - Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to report operating and financial results for the fourth quarter and 2019 fiscal year. A 66% operating margin1 and 27% profit margin2 was achieved in 2019, allowing Peyto to deliver a 4% return on capital employed (“ROCE”) and an 8% return on equity (“ROE”) in the year. PROFITABILITY = SUSTAINABILITY Free Cashflow – Generated $117 million in free cashflow in 2019 and continued to strengthen [Read more]
Headwater Exploration Inc. (formerly Corridor Resources Inc.) Announces Closing of Financing and Appointment of Former Raging River Management Team
CALGARY, Alberta, March 04, 2020 (GLOBE NEWSWIRE) -- Headwater Exploration Inc. (formerly Corridor Resources Inc.) ("Headwater" or the "Company") (CDH: TSX) is pleased to announce that it has completed its previously announced financing transactions for aggregate gross proceeds of $50.0 million, the appointment of a new management team (the "New Management Team") and the reconstitution of the board of directors of the Company (the "Board"). Private Placements The financing transactions [Read more]