Calgary, Alberta - Bonavista Energy Corporation (TSX: BNP) ("Bonavista") is pleased to report to shareholders its financial and operating results for the six months ended June 30, 2020. The financial statements and notes, as well as management's discussion and analysis, are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at http://www.sedar.com and on Bonavista's website at www.bonavistaenergy.com. MESSAGE TO SHAREHOLDERS The devastating health crisis and [Read more]
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Altura Energy Inc. provides an update on its credit facility renewal
CALGARY, AB - Altura Energy Inc. ("Altura" or the "Corporation") (TSXV: ATU) provides an update on its credit facility renewal. Altura and its lender have agreed to further extend the credit facility renewal from July 31, 2020 to August 31, 2020 to provide sufficient time to apply for the proposed federal support programs being initiated through the Export Development Bank of Canada and the Business Development Bank of Canada. In the interim, Altura's $9.0 million credit facility that was [Read more]
ARC Resources Ltd. reports second quarter 2020 financial and operational results
CALGARY, AB - (TSX: ARX) ARC Resources Ltd. ("ARC" or the "Company") reports its second quarter 2020 financial and operational results. ARC's unaudited condensed interim financial statements and notes ("financial statements") and ARC's Management's Discussion and Analysis ("MD&A") as at and for the three and six months ended June 30, 2020 are available on ARC's website at www.arcresources.com and on SEDAR at www.sedar.com. ARC delivered strong financial and operational results during [Read more]
Surge Energy Inc. announces second quarter financial and operating results; and corporate update
CALGARY, AB - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce its financial and operating results for the quarter ended June 30, 2020. CORPORATE UPDATE - CRUDE PRICE FUNDAMENTALS IMPROVING 1. Managing The Pandemic: Surge's management team has an established track record of making proactive capital allocation decisions to protect stakeholder's capital. When oil prices were over US $63 WTI in late 2019/early 2020, Surge systematically layered in WTI [Read more]
Cardinal Energy Ltd. announces second quarter 2020 financial results
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to announce its operating and financial results for the second quarter ended June 30, 2020. Selected financial and operating information is shown below and should be read in conjunction with Cardinal's unaudited condensed interim financial statements and related Management's Discussion and Analysis for the three months ended June 30, 2020 which are available at www.sedar.com and on our website at [Read more]
Bonavista Announces Senior Noteholders and Shareholders Approve Recapitalization Transaction
Calgary, Alberta - Bonavista Energy Corporation (TSX: BNP) ("Bonavista" or the "Company") today announced that at the meetings (the "Meetings") of holders (the "Senior Noteholders") of the Company's outstanding (i) 4.37% Notes due November 2, 2020; (ii) 4.25% Notes due October 25, 2021; (iii) 4.47% Notes due November 2, 2022; (iv) 3.68% Notes due May 23, 2023; (v) 4.09% Notes due May 23, 2023; (vi) 3.80% Notes due April 25, 2025; and (vii) 3.78% Notes due May 23, 2025 (collectively, the "Senior [Read more]
ELM aligns with First Nations to manage environmental liabilities across Alberta
ELM Inc. will be enhancing delivery of its abandonment, decommissioning and reclamation programs with qualified Indigenous companies such as Backwoods Energy Services. Backwoods is an Indigenous Community owned company, with strong leadership, that has made a positive impact creating economic opportunities across Alberta for First Nation communities and Albertans. Together, ELM and Backwoods can deliver end-to-end, cost-effective environmental solutions to the industry. ELM is committed to [Read more]
Headache for OPEC as oil market structure signals return of glut
Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil's collapse in April and May amid the coronavirus pandemic. The development is a headache for OPEC, which had been hoping demand would recover quicker after a round of record global output cuts. The group will either have to consider further production cuts or tolerate lower oil prices for longer. The [Read more]
Hillcrest acquires 100% working interest in West Hazel
July 30, 2020 - Vancouver, B.C. - Hillcrest Petroleum Ltd. (the "Company" or "Hillcrest") (TSXV:HRH) (OTC:HLRTF), is pleased to announce it will increase its working interest percentage in the West Hazel field to 100% by acquiring the remaining working interest its Joint Venture Partner. The agreement in principle is effective July 29th and is subject to approval by the TSX Venture Exchange. Hillcrest is acquiring the joint venture partner's interest in exchange for three million (3,000,000) [Read more]
Husky Energy reports second quarter 2020 results
This news release contains references to the non-GAAP financial measures “funds from operations”, “free cash flow”, “net debt”, “operating margin”, “sustaining capital”, “net debt to trailing funds from operations” and “refining and marketing margin”. Please refer to “Non-GAAP Measures” at the end of this news release. CALGARY, Alberta - Husky Energy recorded funds from operations of $18 million in the second quarter. Cash flow from operating activities, which includes changes in non-cash [Read more]