Adjusted funds flow of $1.3 million, $5.98 per barrel of oil equivalent ("boe"), in the second quarter, up 89% from the comparative quarter of 2018 and $3.3 million of adjusted funds flow for the six months ended June 30, 2019, up 228%, versus the comparative six months of 2018 Reduced net debt by $1.9 million to $16.3 million at June 30, 2019 resulting in a net debt to annualized six-month adjusted funds flow ratio of 2.4:1 Increased oil production 56% and 55%, in the three and six months [Read more]
Headlines
Bonterra Energy Corp. Provides Update on Fluid Release at Central Alberta Well Site
CALGARY, Aug. 22, 2019 /CNW/ - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today provides an update on the previously reported release of emulsion related to a pipeline that severed on August 15, 2019 after a creek bank collapsed as a result of area flooding approximately 25 km southwest of Drayton Valley, AB. The Company confirms that the emergency phase, which had been initiated immediately upon identification of the incident, has now been [Read more]
Oil inches higher after U.S. crude stocks drawdown, economic worries weigh
Oil prices edged higher on Thursday after a drawdown in U.S. crude inventories, but lingering concerns over the global economy and a build-up in U.S. refined product stocks kept a lid on gains. West Texas Intermediate (WTI) crude futures rose 10 cents, or 0.2%, to $55.78 per barrel. Brent crude futures climbed for a fifth consecutive session on Thursday, rising 6 cents, or 0.1%, to $60.36 a barrel by 0242 GMT on Thursday. U.S. crude inventories fell more than expected last week as [Read more]
‘Noise’ makes Trans Mountain pipeline bid unlikely: Pembina CEO
The CEO of Pembina Pipeline Corp. says the Trans Mountain pipeline system would fit neatly into his company’s business model but he wouldn’t want the “noise” associated with its controversial expansion project. On a conference call to discuss his company’s agreement announced Wednesday to purchase Kinder Morgan Canada Ltd., Mick Dilger was non-committal when asked if Pembina would consider buying the pipeline which Kinder Morgan sold to the federal government last year. “If you think about [Read more]
Alberta’s smaller oil producers eye output boost after curbs lifted
Small and mid-sized Alberta oil producers are looking to increase drilling as early as this autumn after the Canadian province exempted a dozen of them from government-mandated oil production cuts, boosting the struggling industry. On Tuesday, the new United Conservative Party government extended curtailments through 2020, citing a delay to Enbridge Inc's Line 3 replacement that could swell inventories again unless the limits remained in place. It also doubled an exemption threshold in the [Read more]
Razor Energy Corp. Announces Strategic Acquisition and Second Quarter 2019 Results
CALGARY, Alberta, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce a strategic acquisition with Little Rock Resources Ltd. (“Little Rock”) and its second quarter 2019 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the quarter [Read more]
Trans Mountain restarts construction on pipeline expansion
Trans Mountain Corp has restarted construction on the Trans Mountain pipeline expansion, the company said on Wednesday, a year after the project stalled because of regulatory delays. The expanded pipeline will nearly triple the flow of crude from Alberta's oil sands to the British Columbia coast but is fiercely opposed by environmental and some indigenous groups. Last year a Canadian court overturned the federal government's 2016 approval of the project on the grounds it had failed to [Read more]
Non-Core Property Divestiture: Dunvegan, Alberta
Sayer Energy Advisors has been engaged to assist a senior oil and natural gas exploration and production company (the “Company”) with the sale of its non-core natural gas property located in the Dunvegan area of Alberta (the “Property”). In the Dunvegan area of Alberta, the Company holds a 4.29% working interest in the Dunvegan Gas Unit No. 1 (the “Unit”), which is operated by Canadian Natural Resources Limited, as well as various other interests surrounding the Unit. A large portion of the [Read more]
Pembina Pipeline Corporation to Acquire Kinder Morgan Canada and the Cochin Pipeline for $4.35 Billion and Increase Dividend
All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") and adjusted cash flow from operating activities per share ("adjusted cash flow per share"), which are financial measures that are not defined by Generally Accepted Accounting Principles ("GAAP"). For more information about these metrics, see "Non-GAAP Measures" herein. CALGARY, Aug. 21, [Read more]
Column: India’s infrastructure requirements are an eye-opening reminder of the world’s staggering demand for all energy sources
I’ve recently succumbed to an infatuation, much like a grade-school crush. Mind you, what is appealing at my current age is markedly different than what was back then; having traversed a generation's worth of the realities of adulthood, and with the prospect of hoping to retire someday, the subject matter of my admiration has shifted. Monumentally. Sadly, and weirdly, my current crush is on a company, or more specifically their stock: Brookfield Infrastructure Partners. This is disturbing in [Read more]