CALGARY, Nov. 4, 2019 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces its operating and financial results for the quarter ended September 30, 2019. Surge's large original oil in place ("OOIPi"), light and medium gravity crude oil asset base continues to outperform management's expectations. Surge's Q3/19 average production rate of 21,217 boepd contains virtually no contribution from the Company's Q3/19 drilling program, as drilling operations in the quarter did [Read more]
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Jupiter Receives Additional Extension to Credit Facility
CALGARY, Nov. 4, 2019 /CNW/ - Jupiter Resources Ltd. and its affiliates (collectively, "Jupiter" or the "Company") have received an additional extension to the maturity date, associated with the Company's existing senior secured reserve-based revolving credit facility (the "RBL Facility"), until December 6, 2019. The commitments under the RBL Facility will be limited to a maximum of $265 million for the additional extension period, during which the Company will continue to negotiate a [Read more]
Gibson Energy Announces 2019 Third Quarter Results
Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today its financial and operating results for the three and nine months ended September 30, 2019. “Gibson continued to deliver strong, consistent operational and financial results in the third quarter, with the continued growth of long-term, high-quality cash flows from our Infrastructure segment while the contribution from Marketing meaningfully exceeded our expectations,” said Steve Spaulding, President and Chief Executive [Read more]
Heavy discount widens to fresh 11-month high due to Keystone pipeline shutdown
The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Monday, hitting a fresh 11-month high, as the shutdown last week of the Keystone oil pipeline made it harder to ship oil. Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $22.35 per barrel below WTI, according to Net Energy Exchange, a larger discount than Friday's settle of $22. The precise source of a leak on TC Energy Corp's [Read more]
Keystone oil pipeline in North Dakota remains closed, leak source unclear
The precise source of a leak on TC Energy Corp's Keystone oil pipeline in North Dakota has not yet been identified, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Monday. There is no estimated timeline for restart of the pipeline and the company is continuing excavation work to isolate the affected part of the pipeline, the spokesman said by phone. Clean-up crews in Walsh County, North Dakota, have been working to plug the Keystone pipeline [Read more]
Oil prices creep higher on tentative U.S.-China hopes
Oil prices crept upwards on Monday, with Brent reaching its highest in more than a month after the previous day’s boost from growing expectations of a U.S.-China trade deal and Iran flagging OPEC discussions of a deeper output cut next month. December U.S. crude futures up 97 cents at $57.03 a barrel. Brent crude futures for January also swung back into positive territory, rising 80 cents to $62.49 a barrel by 1203 GMT, erasing earlier losses and reaching peaks last seen on Sept. [Read more]
Obsidian Energy Announces Third Quarter 2019 Financial and Operational Results and Updates 2019 Guidance
CALGARY, Nov. 4, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce its financial and operational results for the three and nine months ended September 30, 2019. All figures are in Canadian dollars unless otherwise stated. Michael Faust, Interim President and CEO, commented, "Throughout the third quarter of 2019, Obsidian Energy continued to deliver on our commitments. We continue to operate within our [Read more]
Delphi Energy Corp. Announces Extension of Credit Facility
Delphi Energy Corp. (“Delphi” or the “Company”) announces that the semi-annual borrowing base redetermination of its senior credit facility has been finalized. Effective on the earlier of the closing date for the Recapitalization Transaction (as defined below) and November 29, 2019, and conditional upon completion of the Recapitalization Transaction, the borrowing base of the senior credit facility led by Alberta Treasury Branches has been renewed at $80.0 million. Further, conditional upon [Read more]
Best Practices in ARO Management: A senior leaders’ roundtable on evolving environmental liability management practices in the WCSB
Energy liability cases like Redwater and Sequoia have changed the way Canadian E&P companies access capital, evaluate deals, and manage asset retirement obligations (ARO), leaving industry struggling to keep up with changing rules and approaches. XI Technologies Inc., creators of the WCSB's first ARO management software, will host an executive roundtable on Thursday, November 14, 2019, at the Hudson Event Centre. XI has assembled an expert panel to discuss Best Practices in ARO [Read more]
Crew Energy Inc. Announces Third Quarter 2019 Financial and Operating Results Highlighted by 24% Growth in Quarterly Condensate Volumes
Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") is pleased to announce our operating and financial results for the three and nine month periods ended September 30, 2019. Crew's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and nine month periods ended September 30, 2019 are available on Crew's website and filed on SEDAR at www.sedar.com. Q3 2019 HIGHLIGHTS Average Production of 22,824 boe per day with 29% Liquids: Liquids [Read more]