Sustainable model delivered free cash flow, strong growth in proved reserves and high-margin liquids Fourth quarter and full-year 2018 highlights: Fourth quarter total production of 403,400 barrels of oil equivalent per day (BOE/d) Fourth quarter liquids production grew more than 25 percent year-over-year, to 192,700 barrels per day (bbls/d) Full-year total production of 361,200 BOE/d Full-year liquids production up 30 percent year-over-year to 168,100 bbls/d Generated [Read more]
Headlines
Vermilion Energy Inc. Announces Results for the Year Ended December 31, 2018 and 2018 Reserves and Resources Information
CALGARY, Feb. 28, 2019 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) is pleased to report operating and financial results for the year ended December 31, 2018 along with our 2018 reserves and resources information. The audited financial statements, management discussion and analysis, and annual information form for the year ended December 31, 2018, will be available on the System for Electronic Document Analysis and Retrieval [Read more]
AltaGas Announces Fourth Quarter and Full-Year 2018 Results and Reaffirms 2019 Outlook and Balanced Funding Plan
AltaGas continues to focus on Midstream and U.S. Utilities segments as near-term priorities to drive performance, fund organic growth and de-lever company CALGARY, Feb. 28, 2019 /CNW/ - Highlights (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Delivers $1.0 billion in 2018 Normalized EBITDA1 Normalized EBITDA of $394 million for the fourth quarter of 2018 and $1.0 billion for the full-year, achieving a 27 percent year-over-year growth rate for [Read more]
Gear Energy Ltd. Announces 2018 Year-End Reserves
CALGARY, Feb. 27, 2019 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to present the following results and analysis of its 2018 year-end independent reserve report prepared by its new independent evaluator Sproule Associates Limited ("Sproule"). In 2018 Gear invested $110.0 million consisting of $43.8 million of development capital and $66.2 million in acquisition and divestiture ("A&D") capital. The combined investment provided Gear with four per cent annual [Read more]
Gear Energy Ltd. Announces Fourth Quarter 2018 Operating Results
CALGARY, Feb. 27, 2019 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following fourth quarter operating update to shareholders. Gear's Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended December 31, 2018 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Twelve months ended (Cdn$ [Read more]
Marksmen Announces First Closing of Private Placement
CALGARY, Alberta, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSX Venture: MAH) (OTCQB: MKSEF) announces that it has completed the first closing of its previously announced non-brokered private placement. The Company issued 3,015,000 units (the “Units”) of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of $301,500 (the “Offering”). Each Unit is comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase [Read more]
Amherst Energy Plans First Well In Alberta
CALGARY, Alberta, February 27, 2019 – Amherst Energy Inc. (“Amherst”) Amherst today reported that it has been issued a well license for the Amherst HZ Morgan 13-8-52-3W4 horizonal heavy oil well. Amherst is currently building a drilling pad and plans to commence drilling by March 15, 2019. The well is located at the east end of the Morgan Lloydminster heavy oil pool. It is also situated immediately adjacent to a pad on which seven heavy oil wells were drilled late 2017. These wells [Read more]
Encana Announces TSX Acceptance of Normal Course Issuer Bid
CALGARY, Alberta, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Encana (NYSE, TSX: ECA) announced today receipt of regulatory approvals for its planned $1.25 billion share buyback. On February 27, 2019, the Toronto Stock Exchange (TSX) accepted its notice of intention to renew its normal course issuer bid (NCIB) through which Encana may purchase up to 149,425,839 common shares during the 12-month period commencing March 4, 2019 and ending March 3, 2020. The number of shares authorized for purchase [Read more]
With election looming, Alberta announces budget on track for $6.9B deficit
EDMONTON - Alberta is on track for a $6.9-billion budget deficit amid speculation voters will go to the polls this spring before a new budget is introduced. The budget had originally forecast a deficit of $8.8 billion, but Finance Minister Joe Ceci says a lower dollar and higher than expected bitumen royalties have helped reduce the red ink. Ceci released the numbers as part of a third-quarter update for the current fiscal year. Total revenue this year is forecast at $49.6 billion and [Read more]
Journey Energy Inc. Reports 2018 Reserves and Provides an Update on its Emerging Duvernay Resource Play
CALGARY, Feb. 27, 2019 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to report its year-end 2018 oil and gas reserves evaluation. During 2018, the Company invested approximately $27 million in capital projects net of acquisition and divestiture ("A&D") activities. Exploration and development ("E&D") activities accounted for approximately $32 million while A&D activities resulted in net proceeds of approximately $5 million. E&D activities [Read more]