Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported a net profit of $1.33 million and production of just over 2,300 boe/d for the third quarter ended September 30, 2019. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Exceptional well results drove an increase in production and positive earnings for the third quarter in spite of soft commodity prices. We continue to see the benefits of efficiency gains with lower well costs and [Read more]
Headlines
Bellatrix Announces Filing of Third Quarter 2019 Financial and Operating Results and Delisting From Toronto Stock Exchange
Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) announces that it has filed its interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2019 with the Canadian securities regulatory authorities on SEDAR. Bellatrix also announces that on November 8, 2019, the Toronto Stock Exchange delisted the common shares of Bellatrix as a result of the Company’s initiation of creditor protection proceedings, as previously [Read more]
Freehold Royalties Ltd. Announces Third Quarter Results
Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces third quarter results for the period ended September 30, 2019. Results At A Glance Three Months Ended Nine Months Ended September 30 September 30 FINANCIAL ($000s, except as noted) 2019 2018 Change 2019 2018 Change Royalty and other revenue 33,068 40,587 -19% 104,010 119,705 -13% Net income (loss) 2,729 8,389 -67% (920 ) 18,198 -105% Per share, basic and diluted [Read more]
Suncor Energy declares dividend and announces increase to share repurchase program
All financial figures are in Canadian dollars. Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.42 per share on its common shares, payable December 24, 2019 to shareholders of record at the close of business on December 3, 2019. Suncor’s Board of Directors has also approved an increase to the company’s current share repurchase program of an additional $500 million increasing the program from $2.0 billion to $2.5 billion. Suncor will continue to be opportunistic in its [Read more]
Zargon Oil & Gas Ltd. Provides 2019 Third Quarter Results
Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX SYMBOL: ZAR). FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED SEPT 30, 2019) Funds flow from operating activities of $1.41 million compared to $2.17 million recorded in the prior quarter. The decrease from the prior quarter was primarily due to lower production volumes and commodity prices that were partially offset by lower general and administrative expenses. Third quarter 2019 production averaged 1,715 barrels of oil [Read more]
Jupiter Reports Third Quarter 2019 Results
Jupiter Resources Ltd. and its affiliates (collectively, "Jupiter" or the "Company") today reported financial and operating results for the third quarter of 2019. Jupiter's third quarter financial results have been posted to the investor portal on the Company website. The Company will be hosting a conference call to discuss results on November 14, 2019. Conference Call Date: Thursday, November 14, 2019 Time: 9:00 a.m. MT (11:00 a.m. [Read more]
Heavy discount narrows further as Keystone resumes operation
The discount on Canadian heavy crude continued to narrow versus U.S. benchmark West Texas Intermediate (WTI) crude on Wednesday, after the Keystone pipeline returned to service on Sunday and eased bottlenecks. Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $17.85 per barrel below WTI, according to Net Energy Exchange, narrower than Tuesday's settle of $18.75 below. The availability of spot market space on smaller pipelines was [Read more]
CAODC announces its 2020 Drilling Forecast
CAODC announces its 2020 Drilling Forecast: Projected 2020 wells drilled: 4,905—an increase of 9 from 2019 (4,896*) Projected 2020 operating days: 46,599—an increase of 88 from 2019 (46,511*) Rig fleet expected to decrease by 48 (545 drilling rigs to 497 drilling rigs) Total jobs expected = 22,313; flat year over year and a loss of 13,731 jobs compared to 2018. *forecast + actual Following the Canadian federal election in October, the sentiment toward Canadian oil and gas is [Read more]
TC Energy cuts November volumes on Keystone oil pipeline by about 39% after leak -sources
TC Energy Corp told a majority of Keystone oil pipeline shippers that November volumes would be cut by nearly 39% after a leak in North Dakota spilled more than 9,000 barrels about two weeks ago, sources familiar with the matter said on Wednesday. TC Energy did not immediately respond to a request for comment. The company had earlier told shippers that the outage meant it could not carry out 30% of their normal November shipments on the 590,000 barrel-per-day line from Alberta to U.S. [Read more]
Non-Core Property Divestiture: Chinchaga area of Alberta & British Columbia
Sayer Energy Advisors has been engaged to assist a senior oil and natural gas exploration and production company (the “Company”) with the sale of its non-core natural gas property located in the Chinchaga area of Alberta and British Columbia (the “Property”). In the first half of 2019, production net to the Company from Chinchaga averaged approximately 3.8 MMcf/d of natural gas and 54 barrels of natural gas liquids per day (685 boe/d). The Company holds various working interests and [Read more]