U.S. natural gas futures rose almost 2% on Tuesday on forecasts for more heat and cooling demand next week than previously expected despite an increase in output to a fresh record high. Front-month gas futures for September delivery on the New York Mercantile Exchange rose 3.7 cents to $2.142 per million British thermal units at 9:05 a.m. EDT (1305 GMT), or minus 1.8%. Front-month gas futures for September delivery on the New York Mercantile Exchange were up 1.8 cents, or 0.9%, to $2.123 per [Read more]
Headlines
Tidewater Midstream and Infrastructure Ltd. Announces Second Quarter 2019 Results and Operational Update
CALGARY, Aug. 13, 2019 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the three and six-month period ended June 30, 2019. SECOND-QUARTER 2019 FINANCIAL PERFORMANCE Recent Highlights Adjusted EBITDA for the second quarter of 2019 was $21.8 million or $0.07 per share, compared to [Read more]
Obsidian Energy Announces Update to its Syndicated Credit Facility and Peace River Oil Partnership Disposition
CALGARY, Aug. 13, 2019 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces the extension of the Company's syndicated credit facility with the underlying borrowing base and amount available under the syndicated credit facility remaining at $550 million and $460 million, respectively. The revolving period ends on February 28, 2020 with revolving period reconfirmation dates on November 19, 2019 and January 20, 2020. Under the [Read more]
Heavy discount narrows as end of monthly trade cycle looms
The Canadian heavy crude discount narrowed against benchmark West Texas Intermediate (WTI) futures on Monday: * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $10.95 per barrel below WTI, according to Net Energy Exchange. On Friday, it settled at $12.00 per barrel below WTI. * One Calgary-based industry source said there was strong buying as market players covered positions ahead of the end of the monthly trade cycle on [Read more]
Oil steadies as Saudi, Kuwait signals offset demand fears
Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. Investors were torn between forecasts of slowing global oil demand growth and chatter about renewed efforts by major producers to [Read more]
U.S. natgas futures rise on forecast for more demand despite record output
U.S. natural gas futures edged up on Monday as the market focused more on forecasts for more demand over the next two weeks than previously expected as opposed to an increase in output to record levels. Front-month gas futures for September delivery on the New York Mercantile Exchange rose 2.7 cents, or 1.3%, to $2.146 per million British thermal units (mmBtu) at 9:10 a.m. EDT (1310 GMT). That keeps the contract within 10 cents of the $2.070 close on Aug. 5, which was its lowest settle since [Read more]
Low prices, LNG uncertainty add to frustration levels for natural gas producers
CALGARY - Greg Kist admits he was burned out when he resigned as president of Pacific NorthWest LNG at the end of 2014, as the Vancouver-based venture led by Malaysian energy giant Petronas advanced its ill-fated mission to build a liquefied natural gas project in B.C. "I needed to decompress," the 57-year-old gas industry veteran says of his decision to return to his home and family in Alberta. Once hailed as a voracious new consumer of western Canadian natural gas, the nascent [Read more]
RiggerTalk launches new website, transforms energy services network
RiggerTalk is proud to present its redesigned website: https://riggertalk.com/ RiggerTalk is the energy industry's most innovative, disruptive and economic way to market your service company and grow your business! With over 250,000 website users, 40,000 app downloads and growing an average of over 200 new daily users, RiggerTalk is the best way to advertise your services Worldwide. RiggerTalk is proven to get your company and services found and working. Include your company's location on [Read more]
Granite Oil Corp. Reports Second Quarter 2019 Financial and Operating Results
GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to report its operating and unaudited financial results for the three and six months ended June 30, 2019. Second Quarter Highlights and Operations Update During the first six months of 2019, Granite has reduced its net debt by over 10%, exiting the second quarter with net debt of approximately $42.8 million, down approximately $4.9 million from year-end 2018. Granite paid down approximately $0.8 million in net [Read more]
Vertex Resource Group Ltd. reports strong second quarter 2019 results
Sherwood Park, Alberta, August 9th, 2019 (TSXV:VTX) - Vertex Resource Group Ltd. (“Vertex” or the “Company”) reports its financial and operational results for the three and six months ending June 30, 2019, with comparisons to the same period in 2018. The following operational and financial highlights should be read in conjunction with the Management Discussion and Analysis (“MD&A”) and the interim consolidated financial statements and notes thereon of Vertex for the three and six months [Read more]