CALGARY, AB - Point Loma Resources Ltd. (TSXV:PLX) ("Point Loma" or the "Corporation"), which controls a land base of over 161,000 net acres (250 net sections) and a deep inventory of oil and gas opportunities, is pleased to announce the execution of a binding letter of intent (the "LOI") outlining a farmout agreement with a private company ("Privco" or the "Farmee") which includes a commitment by Privco to drill a horizontal well on at least one of the Corporation's oil and gas projects. The [Read more]
Headlines
AltaGas announces strong first quarter results
AltaGas' integrated Utility and Midstream strategy continues to provide stable and reliable results. Our teams on the frontlines are delivering safe and reliable energy to our customers and communities. CALGARY, April 30, 2020 /CNW/ - AltaGas Ltd. (AltaGas or the Company) (TSX: ALA) today reported first quarter 2020 financial results and provided an update on its operations and outlook, inclusive of COVID-19 considerations. HIGHLIGHTS (all financial figures are unaudited and in [Read more]
ConocoPhillips reports first-quarter 2020 results; announces quarterly dividend and additional curtailments
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported a first-quarter 2020 loss of $1.7 billion, or ($1.60) per share, compared with first-quarter 2019 earnings of $1.8 billion, or $1.60 per share. Excluding special items, first-quarter 2020 adjusted earnings were $0.5 billion, or $0.45 per share, compared with first-quarter 2019 adjusted earnings of $1.1 billion, or $1.00 per share. Special items for the current quarter were primarily driven by an unrealized loss on Cenovus Energy [Read more]
Whitecap Resources Inc. announces first quarter 2020 results and total 2020 reductions of $300 Million
CALGARY - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to report its operating and unaudited consolidated financial results for the three months ended March 31, 2020. Selected financial and operating information is outlined below and should be read with Whitecap's unaudited interim consolidated 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 [Read more]
Bonterra Energy Corp. announces extension of bank line redetermination date, corporate update and confirms new board nominees
CALGARY - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today confirms its syndicate of lenders has extended the annual borrowing base redetermination date on its credit facility, and announces two new Director nominees to stand for election at the Company's upcoming 2020 Annual General & Special Meeting ("AGSM") of shareholders. EXTENSION OF BANK LINE REDETERMINATION DATE Bonterra's syndicate of lenders has confirmed an extension to the [Read more]
Productivity factors in the Clearwater oil play
Clearwater oil production continues to accelerate with an increase of over 23,000 bopd in the last few years. Production comes from three main areas—Marten Hills, Nipisi and Jarvie—along with smaller fields such as Gift, Canal and Cadotte (figure 1). The Clearwater is complex, and understanding the variations and interplay of oil and reservoir quality oil is important to ensure strong productivity as the play progresses. The key productivity factors include reservoir quality, oil quality [Read more]
Shell cuts dividend for first time since World War Two
Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic. Shell also suspended the next tranche of its share buyback programme and said it was reducing oil and gas output by nearly a quarter after its net profit almost halved in the first three months of 2020. Shell's shares in London dropped 6.7% in early trading on Thursday, underperforming [Read more]
Global oil price slump hitting Alberta to continue a year post pandemic: Kenney
EDMONTON - Premier Jason Kenney says a global oil glut means Alberta's main industry will be dealing with low prices for a year or longer after the COVID-19 pandemic abates. Kenney says reduced demand for oil and gas during the pandemic coupled with a destructive price war between Saudi Arabia and Russia has left the world awash in oil. He says supplies are so swamped, holding tanks are at the brim and tankers on the U.S. Gulf Coast can't unload. West Texas Intermediate, the benchmark [Read more]
Yangarra announces 2020 first quarter financial and operating results
CALGARY - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) announces its financial and operating results for the three months ended March 31, 2020. Annual General and Special Meeting of Shareholders The Company's Annual General and Special Meeting of Shareholders is scheduled for 10:00 AM on Thursday April 30, 2020. As a precaution due to the COVID-19 pandemic, there will not be a corporate presentation at the conclusion of the meeting and the following conference call [Read more]
Poll: Canadians not-so-extreme about oil
New Canadian think tank SecondStreet.org released public opinion research today that shows a majority of Canadians don’t have the same views towards the oil and gas sector that anti-oil environmental protestors often advocate. The Leger poll shows that Canadians overwhelmingly believe that if Canada keeps its oil in the ground, another country will simply increase its oil production – meaning we’re not really lowering greenhouse gas emission. Further, Canadians overwhelmingly agree that [Read more]