CALGARY, Alberta - Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") today announces our financial and operating results for the three and six months ended June 30, 2020. PPR’s unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2020 (“Interim Financial Statements”) and related Management’s Discussion and Analysis (“MD&A”) for the three and six months ended June 30, 2020 are available on our website at [Read more]
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Freehold Royalties Ltd. announces second quarter 2020 results
CALGARY, Alberta - Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces second quarter results for the period ended June 30, 2020. Results at a Glance Three Months Ended June 30 Six Months Ended June 30 FINANCIAL ($000s, except as noted) 2020 2019 Change 2020 2019 Change Royalty and other revenue 14,758 35,333 -58 % 41,042 70,942 -42 % Net income [Read more]
Heavy discount narrows as pipelines run below capacity
Canadian heavy crude's discount narrowed versus West Texas Intermediate (WTI) on Wednesday, as pipelines continued to run below capacity, despite increasing oil production. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $10.25 per barrel below WTI, according to NE2 Canada Inc. It settled the previous day at $11.40 under. The Enbridge Mainline has refilled much of the space that opened in spring when producers curtailed oil production, [Read more]
Birchcliff Energy Ltd. announces Q2 2020 financial and operational results
CALGARY, Alberta - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its financial and operational results for the three and six months ended June 30, 2020. Birchcliff’s unaudited interim condensed financial statements for the three and six months ended June 30, 2020 and related management’s discussion and analysis (the “MD&A”) will be available on its website at www.birchcliffenergy.com and on SEDAR at www.sedar.com. Birchcliff is also pleased to [Read more]
Bonavista to be delisted from exchange after completing shares-for-debt deal
CALGARY - Bonavista Energy Corp. says it has completed a recapitalization plan that will result in a nickel-per-share payout for its shareholders and its delisting from the Toronto Stock Exchange. CEO Jason Skehar says the transaction removes crippling debt and means the oil and gas producer will be able to "pledge sustainability" in almost any commodity price environment. Bonavista announced in June an agreement with lenders that would eliminate about half of its outstanding debt but [Read more]
Oil rises after bigger-than-expected drop in inventories
Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world's biggest economy can weather the coronavirus pandemic. West Texas Intermediate oil was up 70 cents, or 1.74%, at $42.37 a barrel, having dropped 0.8% in the previous session. Brent crude was up 69 cents, or 1.55%, at $45.18 a barrel after falling around 1% on Tuesday. The American Petroleum Institute said [Read more]
XI Technologies: Alberta reinforces its commitment to Asset Retirement Obligations with the new Liability Management Framework
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. At the end of July, the Government of Alberta announced a new Liability Management Framework (LMF) to enable industry to “better manage the clean up of oil and gas wells, pipelines and facilities at every step of development”. This [Read more]
Pieridae announces second quarter results
Solid Results During Ongoing Pandemic & Challenging Market Conditions Highlights: Revenue of $68.6 million in Q2 2020, an increase of $55.2 million or 412% compared to Q2 2019 Net operating income1 (“NOI”) increased by $21.2 million or 1,101% compared to Q2 2019 Adjusted Funds Flow From Operations1 (“AFFO”) increased by $19.0 million or 291% compared to Q2 2019 Q2 2020 average production was 43,791 barrels of oil equivalent per day (“boe/day”), an increase of 28,423 boe/day [Read more]
Bonavista Completes Recapitalization Transaction
Calgary, Alberta - Bonavista Energy Corporation (TSX: BNP) ("Bonavista" or the "Company") today announced the completion of its previously announced recapitalization transaction (the "Recapitalization Transaction") as further described in the Company's management information circular dated July 2, 2020 and implemented pursuant to a court-approved plan of arrangement under the Canada Business Corporations Act (the "Plan of Arrangement"). As previously announced, pursuant to the approvals obtained [Read more]
Pipestone Energy Corp. reports second quarter 2020 results
CALGARY, Alberta - (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report its Q2 2020 financial and operational results. Paul Wanklyn, President and CEO said, “Pipestone Energy nimbly managed its production during the second quarter in response to historic commodity price volatility. Our ability to generate positive cash flow before hedging gains during the quarter, despite record low condensate pricing, is a testament to our asset quality. With the [Read more]