Company generates $622 million of free funds flow, maintains low cost structure Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to deliver on its commitments to shareholders in the third quarter of 2019. The company generated free funds flow of $622 million while maintaining its industry-leading low cost structure and meeting mandatory production curtailment levels set by the Government of Alberta. Other third-quarter highlights include: Adjusted funds flow of $916 million; cash [Read more]
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Suncor Energy reports third quarter 2019 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars, and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for Libya, which is on an entitlement basis. Certain financial measures referred to in this news [Read more]
MEG Energy Announces third quarter 2019 results
MEG Energy Corp. (TSX:MEG, "MEG") reported its third quarter 2019 operational and financial results. Highlights include: Adjusted funds flow of $192 million ($0.63 per share) and $152 million free cash flow in the quarter. For the nine months ended September 30, 2019, MEG has generated free cash flow of $443 million; Bitumen production volumes of 93,278 barrels per day (bbls/d) at a steam-oil-ratio (SOR) of 2.26; Record low net operating costs of $4.30 per barrel, [Read more]
Yangarra Announces Third Quarter 2019 Financial and Operating Results
Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) announces its financial and operating results for the three and nine months ended September 30, 2019. Third Quarter Highlights Average production of 12,724 boe/d (54% liquids) during the quarter, a decrease of 2% from the second quarter of 2019 and a 23% increase from the same period in 2018. Oil and gas sales were $31.6 million, a decrease of 30% from the same period in 2018, due to a 43% reduction in the sales price. [Read more]
Keystone pipeline shut down for investigation of potential N.D. oil leak
TC Energy Corp. says it has shut down the Keystone pipeline while it investigates a potential oil spill in North Dakota. In a brief statement on Wednesday, the Calgary-based company says it is investigating a possible incident after detecting a drop in pressure near its facilities at Edinberg, N.D., at about 9:20 p.m. MT on Tuesday. It says Keystone customers have been notified the pipeline will remain shut down while it investigates the incident. According to The Associated Press, some [Read more]
Oil prices drop as trade worries overshadow fall in stocks
Oil prices fell on Wednesday as a possible delay in resolving the U.S.-China trade war overshadowed a drop in U.S. crude inventories. U.S. West Texas Intermediate (WTI) crude was down 27 cents, or 0.5%, at $55.27 a barrel, having dropped 0.5% in the previous session. Brent crude was down 18 cents, or 0.3%, at $61.41 a barrel by 0405 GMT after gaining 2 cents on Tuesday. U.S. crude inventories fell 708,000 barrels in the week ended Oct. 25 to 436 million, compared with analysts' [Read more]
Production Equipment Clearance
Production Equipment Clearance Aspire 24”x7’6” Sour Separator Dressed 2 Phase Sour Separator Includes, 1440 MAWP, 2” Full port ESD valve, High pressure and Highlevel Shutdowns, Kimray D-Body back pressure regulator w/ Fisher 4150 controller, 3” Sr. Meter run w/ Barton 2 pen recorder,24”x24” Catadyne explosion proof heater, and Norriseal 2220 pneumatic dump valve. $44,950.00 Aspire 24”x7’6” Sour Separator Dressed 2 Phase Sour Separator Includes, 1440 MAWP, 2” Full [Read more]
XI Technologies: Simplifying your bank credit redeterminations
XI Technologies: Simplifying your bank credit redeterminations Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here. Following the 2019 Redwater ruling, banks began revising the metrics they use to determine the borrowing bases for energy clients. Now, in addition to reserves [Read more]
AltaGas’ Third Quarter Results Saw Strong Performance from the Midstream Business Driven by RIPET and the Advancement of its Energy Export Strategy
Company remains on track to achieve 2019 guidance CALGARY, Oct. 30, 2019 /CNW/ - HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Normalized EBITDA1 was $178 million, compared to $226 million in the prior year, with strong contributions from the Ridley Island Propane Export Terminal (RIPET) ($37 million) being more than offset by EBITDA lost due to asset sales ($93 million) and a one-time adjustment related to the Hearing Examiner's [Read more]
TransGlobe Energy Corporation Announces Third Quarter 2019 Financial and Operating Results for the three and nine months ended September 30, 2019
TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2019. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe's Condensed Consolidated Interim Financial Statements together with the notes related thereto, as well as TransGlobe's Management's Discussion and Analysis for the three and nine month [Read more]