CALGARY, AB - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") today announces our operating and financial results for the three and six month periods ended June 30, 2020. Crew's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and six month periods ended June 30, 2020 are available on Crew's website and filed on SEDAR at www.sedar.com. Q2 2020 HIGHLIGHTS Production Increased as Pricing Improved in June: Q2 production [Read more]
Headlines
Heavy discount widens slightly as production rises
Canadian heavy crude's discount widened a tad versus West Texas Intermediate (WTI) on Thursday, reflecting rising oil production. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $12.05 per barrel below WTI, according to NE2 Canada Inc. It settled the previous day at $11.95 under. The market is slowly rebalancing from tightness during the pandemic in the global heavy oil-light oil spread, a Calgary industry source said. Light synthetic [Read more]
Oil prices hover near five-month highs
Oil prices hovered near five-month highs on Thursday as support from a weak dollar .DXY and falling U.S. crude inventories counteracted bearish sentiment about fuel demand, pushing the benchmarks in and out of positive territory. U.S. crude was up 43 cents at $42.62 after a four-day streak of gains. Brent crude was up 48 cents at $45.65 a barrel. The two benchmarks rose to their highest since March 6 in the previous session after the Energy Information Administration reported a much [Read more]
Ascensun Oil & Gas Ltd. – Divestiture of medium oil producing assets
Ascensun Oil & Gas Ltd. (“Ascensun” or the “Company”) has initiated a process to sell all of the Company’s oil and gas properties, which include conventional medium oil producing assets located around Grand Forks (the “Properties”). ARCO Capital Partners Inc. has been retained as financial advisor to assist in this sales process. The Properties have the following characteristics: June 2020 production of ~170 BOE/d (100% oil) from 20 net producing wells Medium oil (16o to 26o [Read more]
Kelt Reports Financial and Operating Results for the Three and Six Months Ended June 30, 2020
Calgary, Alberta - Kelt Exploration Ltd. ("Kelt" or the "Company") reports its financial and operating results to shareholders for the three and six months ended June 30, 2020. The Company's financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended June 30 Six months ended June 30 (CA$ thousands, except as otherwise indicated) 2020 2019 % 2020 2019 % Petroleum and natural gas [Read more]
Paramount Resources Ltd. reports second quarter 2020 results
CALGARY, AB, Aug. 6, 2020 /CNW/ - HIGHLIGHTS Sales volumes averaged 68,839 Boe/d (39 percent liquids) in the second quarter of 2020 compared to 70,022 Boe/d (38 percent liquids) in the first quarter. At Wapiti, second quarter sales volumes increased 107 percent to 14,940 Boe/d (64 percent liquids) compared to the first quarter as run time at the third-party processing facility improved. At Karr, the five wells on the 12-18 pad were flowed through test facilities [Read more]
Canadian Natural Resources Limited announces 2020 second quarter results
CALGARY, Alberta - Commenting on the Company's second quarter 2020 results, Tim McKay, President of Canadian Natural, stated "Canadian Natural is in a strong position as a result of our capital flexibility and continued focus on cost control, which maximizes margins in a volatile commodity price environment. The effectiveness of our strategies and our ability to execute on those strategies allows us to react quickly to changing markets and commodity price volatility. In Q2/20, we delivered top [Read more]
Pine Cliff Energy Ltd. Announces Second Quarter 2020 Results and Insider Loan Facility
Calgary, Alberta - Pine Cliff Energy Ltd. (TSX: PNE) ("Pine Cliff" or the "Company") is pleased to announce the filing of its second quarter financial and operating results. Included in the filings were Pine Cliff's unaudited interim condensed consolidated financial statements and related management's discussion and analysis for the three and six months ended June 30, 2020 (the "Q2-Report"). Selected highlights are shown below and should be read in conjunction with the Q2-Report. Second [Read more]
Cardinal Energy Ltd. announces redetermination of credit facility and completion of exchange right
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal") (TSX: CJ) confirms the Company has completed the redetermination of its credit facility in partnership with its syndicate of lenders. Cardinal's credit facility has been confirmed at $225 million, comprised of a $205 million revolving facility and a $20 million operating facility with the revolving period extended to August 31, 2020 and the credit facility maturing on May 23, 2021. Cardinal anticipates the credit facility will provide [Read more]
Headwater Exploration Inc. announces second quarter operating and financial results and operations update
CALGARY, AB - Headwater Exploration Inc. (the "Company" or "Headwater") (TSX: HWX) announces its operating and financial results for the three and six months ended June 30, 2020. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related management's discussion and analysis ("MD&A"). These filings will be available at www.sedar.com and the Company's website at [Read more]