Calgary, Alberta - Pine Cliff Energy Ltd. (TSX: PNE) ("Pine Cliff", or the "Company") is pleased to provide an update on its Pekisko oil development program which continues to demonstrate encouraging results. Pekisko Oil Development Program Update Following up on the drilling of its initial horizontal oil well ("13-33") in the fourth quarter of 2018, Pine Cliff drilled two gross (2.0 net) Pekisko horizontal oil wells during the fourth quarter of 2019. The first of these two wells [Read more]
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Gear Energy Ltd. Announces 2019 Year-End Reserves
CALGARY - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to present the following results and analysis of its 2019 year-end independent reserve report prepared by its independent evaluator Sproule Associates Limited ("Sproule"). During 2019, Gear generated $61.8 million of funds from operations and reinvested $38.9 million, or 63 per cent, consisting of $37.0 million of development capital and $2.9 million directed towards abandonment and reclamation activities, offset by [Read more]
Gear Energy Ltd. Announces Fourth Quarter 2019 Operating Results
CALGARY - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following fourth quarter operating update to shareholders. Gear's Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended December 31, 2019 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Twelve months ended (Cdn$ [Read more]
Kelt Reports Significant Increases in Oil & Gas Reserves and Net Asset Value per Share as at December 31, 2019
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") is pleased to report on its oil & gas reserves and production for the year ended December 31, 2019. The audit of Kelt's 2019 annual consolidated financial statements has not been completed and accordingly all financial amounts relating to 2019 referred to in this press release are unaudited and represent management's estimates. Readers are advised that these financial estimates are subject to audit and may be [Read more]
ARC Resources Ltd. Announces Retirement of Myron Stadnyk and the Appointment of Terry Anderson as Chief Executive Officer
CALGARY - (ARX - TSX) The Board of Directors (the "Board") of ARC Resources Ltd. ("ARC", the "Corporation", or the "Company") is pleased to announce the appointment of Terry Anderson to the role of Chief Executive Officer, effective today. Myron Stadnyk will continue to serve as President and Director of the Corporation until his retirement on April 30, 2020. Terry Anderson has served as ARC's Chief Operating Officer over the past five years; prior to this, he successfully led ARC's [Read more]
Column: Despite the current malaise in Alberta, I’m optimistic for the future
For those who are old enough to remember there is the famous adage in Alberta, “Please God let there be another Oil Boom. I promise not to piss it all away next time”. That seems to be a common refrain these days. The pain has been real and has manifested itself through increasing unemployment rates, rising levels of personal and corporate insolvency, growing statistics of escalating suicide rates, domestic abuse and failed marriages. But the stark and harsh reality is that there is no mystical [Read more]
Exclusive interview with Vice President of Digital Technology and Analytics Transformation at Suncor
Read the exclusive interview to find out more about: How Suncor is accelerating transformational change and securing its future through digital technology The 8 programs that are guiding Suncor’s analytics transformation How the company is applying digital technology to its operating environments to digitally optimise its assets Future plans including how they are scaling their autonomous haul trucks and better leveraging predictive analytics for critical assets Mike Krayacich [Read more]
Ovintiv Issues 2020 Outlook; Company Expects to Deliver Cash from Operations Significantly in Excess of Capital for the Third Consecutive Year; Fourth Quarter 2019 Results Top Consensus Estimates
2020 Outlook highlights: 2020 is expected to be third consecutive year of significant non-GAAP free cash flow. Plan expected to yield 4% year-over-year proforma growth in crude oil and condensate(1) production. Planned 2020 capital investments total $2.7 billion, down 6%, or $175 million less than 2019 proforma capital investment when including 2019 utilized third party capital of $75 million in the Montney. Strong hedge position: over 70% of 2020 crude oil and condensate and [Read more]
Peyto Increases PDP Liquids 23% in 2020, Replaces 285% of Produced Liquids
CALGARY, Alberta - Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX: PEY) is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2019. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2019 marks the Company’s 21st year of successful reserves development. SUSTAINABILITY Long Life, Low Decline: Peyto’s base production decline is [Read more]
Shelved Suncor thermal oilsands project wins Alberta government approval
CALGARY - The Alberta government has approved an application by Suncor Energy Inc. to build a 40,000-barrel-per-day thermal oilsands project but construction is unlikely to start any time soon. The province says in a news release that the Meadow Creek West project 40 kilometres south of Fort McMurray, which would use steam to produce bitumen from wells, can now apply for environmental and local development permits. Suncor CEO Mark Little, however, said earlier this month his company plans [Read more]