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]
Headlines
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]
Petrus Resources announces second quarter 2020 financial & operating results
CALGARY, Alberta - Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and six months ended June 30, 2020. Petrus is focused on the profitable development of its Ferrier Cardium asset to generate free cash flow for debt repayment. The second quarter of 2020 was one of the most challenging on record for the Canadian oil and gas sector with volatile commodity prices resulting from the COVID-19 pandemic. This [Read more]
Questerre reports second quarter 2020 results
CALGARY, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the second quarter ended June 30, 2020. Michael Binnion, President and Chief Executive Officer, commented, “We responded quickly to the impacts of the COVID-19 pandemic and the ensuing global shutdown during the second quarter. To weather the collapse in oil prices, we cut spending and reduced overheads and operating costs wherever possible. [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Aug. 11 INTERMEDIATE SALESFORCE DEVELOPER - (CAT) Trican Well Service Ltd. Calgary Aug. 10 Field Operations Maintenance Manager TC Energy Fort McMurray Aug. [Read more]