Canada is preparing an aid package for Alberta, heart of the country's struggling oil industry, that would help dull the pain if it blocks an oil sands project that could create thousands of jobs, sources familiar with the matter said this week. Ottawa must decide by end-February if Teck Resources Ltd can build the C$20.6 billion ($15.7 billion) Frontier mine in northern Alberta despite climate and wildlife concerns. The decision is a major test of Prime Minister Justin Trudeau's 2019 [Read more]
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ARC Resources Ltd. Reports Fourth Quarter and Year-end 2019 Financial and Operational Results and Year-end 2019 Reserves Results
CALGARY - ARC Resources Ltd. ("ARC" or the "Company") is pleased to report its fourth quarter and year-end 2019 financial and operational results as well as its year-end 2019 reserves results. ARC's audited consolidated financial statements and notes ("financial statements") and ARC's Management's Discussion and Analysis ("MD&A") as at and for the three months and year ended December 31, 2019 are available on ARC's website at www.arcresources.com and on SEDAR at www.sedar.com. ARC's [Read more]
Canada readies aid for Alberta as deadline for provincial oil sands project nears
Canada is preparing an aid package for Alberta, heart of the country's struggling oil industry, that would help dull the pain if it blocks an oil sands project that could create thousands of jobs, sources familiar with the matter said this week. Ottawa must decide by the end of this month if Teck Resources Ltd can build the C$20.6 billion ($15.7 billion) Frontier mine in northern Alberta despite climate and wildlife concerns. The decision is a major test of Prime Minister Justin Trudeau's [Read more]
Heavy discount widens, remains in narrow range
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude widened on Thursday, but remained near its narrowest level in 2-1/2 months. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $18.25 per barrel below WTI, according to NE2 Canada Inc, wider than Wednesday's settle of $17.70 under. The spread was as little as $17 earlier, the smallest since mid-November. Increased rail volumes and modest additional [Read more]
Razor Energy Corp. Provides Dividend Update
CALGARY, Alberta - Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) provides an update regarding its dividend policy. Significant price volatility for crude products in the Canadian energy sector has had a major impact on the industry, the province and the country. The volatility is a result of slowing international economic growth and Canada’s lack of access to international markets outside of the United States. These and other factors have significantly impacted West Texas [Read more]
Keyera Announces Executive Appointments
CALGARY - The Board of Directors of Keyera Corp. (TSX: KEY) ("Keyera") is pleased to announce the appointment of Dean Setoguchi to the role of President and Chief Commercial Officer. Mr. Setoguchi is currently Senior Vice President and Chief Commercial Officer and in his new expanded role he will assume responsibility for corporate development and strategy. David Smith will continue to lead Keyera as Chief Executive Officer and a member of the Board. These changes are effective March 1, [Read more]
Oil rises for a second day as OPEC+ weighs coronavirus action
Oil futures rose for a second day on Thursday boosted by potential OPEC+ action to counter oil demand loss from the coronavirus outbreak and by optimism that trade tensions between the world's two biggest economies were easing. A technical committee advising the Organization of the Petroleum Exporting Countries and its allies led by Russia, known as OPEC+, may reach consensus on Thursday on the need to further cut oil output by at least 500,000 barrels per day (bpd), two sources told [Read more]
Sproule sees decommissioning obligations as an Alberta opportunity
Sproule presentation builds on PSAC Workforce Study and proprietary analysis to highlight how responsible decommissioning can create a new multibillion-dollar job opportunity for Alberta. Download Now [Read more]
Obsidian Energy Releases 2019 Reserves Results
CALGARY, Feb. 6, 2020 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to release its year-end 2019 independent reserves evaluation. Stephen Loukas, Interim President and CEO commented, "We are pleased to announce our 2019 reserve results which demonstrates the strength of our dedicated Cardium development strategy, allowing for our reserve auditors to recognize the performance and improved cost efficiency of the [Read more]
Advantage Announces Record Production, Strong Reserves Growth with 212% PDP Reserves Replacement and 2.2 PDP Recycle Ratio
2019 Year-End Reserves & Operating Results (TSX: AAV) CALGARY, Feb. 5, 2020 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce its 2019 year-end reserve evaluation by Sproule Associates Limited ("Sproule"), and a summary of 2019 operating results. During 2019, Advantage achieved several important milestones in our liquids-focused transition, as demonstrated by our reserves additions and operating results. These achievements have [Read more]