Oil and gas companies have had a tough time over the past year trying to weather the storm of falling oil prices. But the political and financial winds are moving in the wrong direction for the industry, raising more "above ground" problems at a time that they can ill-afford it. Drilling oil and gas wells requires a lot of money. For companies that have seen their revenues vanish because of collapsing oil prices, access to credit is obviously critically important. But U.S. financial [Read more]
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Kelt Reports Financial and Operating Results for the Three and Nine Months Ended September 30, 2015
CALGARY, AB--(Marketwired - November 10, 2015) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") has released its financial and operating results for the three and nine months ended September 30, 2015. The Company's financial results are summarized as follows: Financial Highlights Three months ended September 30 Nine months ended September 30 (CA$ thousands, except as otherwise indicated) 2015 2014 % 2015 2014 % Revenue, [Read more]
TORC Oil & Gas Ltd. Announces Third Quarter 2015 Financial & Operational Results; Reduction Of 2015 Capital Program On Capital Efficiencies; Production Guidance Maintained
CALGARY, Nov. 10, 2015 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2015. The associated management's discussion and analysis ("MD&A") and unaudited interim financial statements as at and for the three and nine months ended September 30, 2015 can be found at www.sedar.com and www.torcoil.com. Highlights Three months ended Nine months ended [Read more]
Shell CEO: Carmon Creek retreat does not mark a retreat from the oilsands
FORT SASKATCHEWAN, Alta. - The CEO of Royal Dutch Shell Plc says a decision to back away from its Carmon Creek oilsands project last month does not mean it's backing away from the oilsands in general.Ben van Beurden told reporters last week that his company ranks investment opportunities in its global portfolio project-by-project, not region-by-region — so the whole industry cannot be painted with the same brush as the halted 80,000-barrel-a-day Carmon Creek project in northwestern Alberta.More [Read more]
Journey Energy Inc. Reports its Third Quarter, 2015 Financial and Operating Results
CALGARY, Nov. 9, 2015 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce its financial results for the third quarter of 2015. The complete set of financial statements and management discussion and analysis for the three and nine month periods ended September 30, 2015 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. HIGHLIGHTS Highlights for the third quarter and to date include: Realized cash flow from [Read more]
Surge Energy Inc. Announces Third Quarter Results, Continued Drilling Success, and Dividend Reduction
CALGARY, Nov. 9, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces its operating and financial results for the quarter ended September 30, 2015. This quarter represents the first full quarter of operating and financial results for Surge post the $430 million sale of the Company's SE Saskatchewan and Manitoba assets. This asset disposition closed on June 15, 2015. Business Strategy – Prepare for a "Lower for Longer" Scenario Given the significant drop in world [Read more]
NuVista Energy Ltd. Announces Third Quarter 2015 Financial and Operating Results and 2016 Budget Plans
CALGARY, ALBERTA--(Marketwired - Nov. 9, 2015) - NuVista Energy Ltd. ("NuVista" or the "Company") (TSX:NVA) is pleased to announce results for the three and nine months ended September 30, 2015 and provide an update on its future business plans. NuVista had a strong and steady quarter with continued operational success and significant progress on cost reduction initiatives. Since the end of spring breakup, NuVista has been active with two rigs drilling in the Wapiti area, and production from the [Read more]
Sunshine Oilsands Ltd.: Private Placement of HK$ 23,254,560 of Common Shares Under the General Mandate to Mr. Junhua Huang
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - Nov. 9, 2015) - The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) (a corporation incorporated under the Business Corporations Act of the Province of Alberta, Canada with limited liability) is pleased to announce the following: PRIVATE PLACEMENT OF HK$ 23,254,560 OF COMMON SHARES (a) The Placement On November 9, 2015 in Hong Kong (November 9, 2015 in [Read more]
Chinook Energy Inc. Announces Third Quarter 2015 Results
CALGARY, ALBERTA--(Marketwired - Nov. 9, 2015) - Chinook Energy Inc. ("our", "we", "us" or "Chinook") (TSX:CKE) is pleased to announce its third quarter financial and operating results. Our operational and financial highlights for the three and nine months ended September 30, 2015 are noted below and should be read in conjunction with our condensed consolidated financial statements for the three and nine months ended September 30, 2015 and 2014 and related management's discussion and [Read more]
Company wants expanded Alberta rail facility to load more oil; Ottawa may review
EDMONTON - A company wants to expand its rail facility southeast of Edmonton so it can load more trains with Alberta crude for shipment across North America.USD Terminals Canada says its rail terminal near Hardisty, Alta., can already load up to two trains each with 120 railcars a day.The Canadian Environmental Assessment Agency says USD is proposing to double that capacity by building and operating new rail tracks and loading infrastructure."As proposed, the Hardisty Rail Terminal Project would [Read more]