CALGARY - (ARX - TSX) ARC Resources Ltd. ("ARC" or the "Company") hereby reports its first quarter 2020 financial and operational results. ARC's unaudited condensed interim financial statements and notes ("financial statements") and ARC's Management's Discussion and Analysis ("MD&A") as at and for the three months ended March 31, 2020 are available on ARC's website at www.arcresources.com and on SEDAR at www.sedar.com. In March 2020, in response to the rapid decline in global commodity [Read more]
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Gear Energy Ltd. announces first quarter 2020 operating results
CALGARY - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is providing the following first quarter operating update to shareholders. Gear's Interim Condensed Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended March 31, 2020 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Three months ended (Cdn$ thousands, except per share, share and per boe amounts) Mar 31, [Read more]
Pine Cliff Energy Ltd. Announces First Quarter 2020 Results and Annual General Meeting Update
Calgary, Alberta - Pine Cliff Energy Ltd. (TSX: PNE) ("Pine Cliff" or the "Company") is pleased to announce the filing of its first quarter financial and operating results. Included in the filings were Pine Cliff's unaudited interim condensed consolidated financial statements and related management's discussion and analysis for the three months ended March 31, 2020 (the "Q1-Report"). Selected highlights are shown below and should be read in conjunction with the Q1-Report. First Quarter 2020 [Read more]
Tourmaline announces strong Q1 2020 results, reduces 2020 budget to maintenance capital, reconfirms 2020 dividend
CALGARY - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the first quarter of 2020 and provide updates regarding 2020 budget and dividend. HIGHLIGHTS Q1 2020 cash flow(1) was $283.7 million ($1.05/diluted share) on Q1 E&P capital spending of $306.2 million. Q1 2020 production averaged a record 308,349 boepd, a 5% increase over Q1 2019 (1,475 mmcfpd natural gas and 62,569 bpd oil, condensate, [Read more]
Heavy discount widens as oil glut grows
Canadian heavy crude's discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday, as rising inventories offset hopes for a recovery in fuel demand that has been pummeled by the coronavirus pandemic. Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, traded at $5.50 per barrel below WTI, according to NE2 Canada Inc, wider than Tuesday's settle of $4.85 under. U.S. crude stocks and distillate inventories rose while gasoline [Read more]
Painted Pony provides an operational update and first quarter 2020 financial and operating results
CALGARY, Alberta - Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation”) (TSX: PONY) is pleased to announce first quarter 2020 financial and operating results. HIGHLIGHTS: Averaged strong first quarter 2020 production volumes of 319 MMcfe/d (53,141 boe/d) which is 18% higher than fourth quarter 2019 production of 271 MMcfe/d (45,173 boe/d). Realized an average natural gas price of $2.30/Mcf, 13% higher than the average AECO 5A daily spot price of $2.03/Mcf, and a combined [Read more]
Canada’s Imperial Oil says 50 birds died after landing on its tailings ponds
About 50 birds have died in Canada's oil heartland of Alberta after landing on tailings ponds at Imperial Oil's Kearl Lake site, the integrated energy company said on Tuesday. Since April 26, there have been several days when more than more than 100 birds - mostly grebes and shorebirds - have landed on tailings ponds, a spokesman for the company told Reuters. Over this period, about 60 oiled birds have been collected, of which 50 have died, the spokesman said. Partially oiled birds are [Read more]
Alberta suspends environmental monitoring rules for oilsands over COVID concerns
EDMONTON - The Alberta Energy Regulator has suspended a wide array of environmental monitoring requirements for companies in the oilsands. The suspensions have been granted over public health concerns raised by the COVID-19 pandemic. The decision, released earlier this week, affects the operations of Imperial Oil, Suncor, Syncrude and Canadian Natural Resources Ltd. They no longer must test ground and surface water, look for leaking gases, or monitor wildlife and birds. Air-quality [Read more]
Oil prices fall as rising U.S. inventories reassert supply concerns
Oil prices fell on Wednesday, ending a multi-day streak of gains, as investors focused on oversupply risks after U.S. crude inventories rose more than expected amid a slump in demand caused by restrictions to halt the coronavirus spread. U.S. West Texas Intermediate (WTI) crude futures fell as much as 2.1% to $24.05 a barrel and were down $1.68 at $25.43 a barrel at 0201 GMT. WTI has snapped a five-day winning streak. Brent crude futures were down $2.01 at $30.97 a barrel, or [Read more]
Obsidian Energy announces first quarter 2020 financial and operational results
CALGARY - OBSIDIAN ENERGY LTD. (TSX – OBE, OTCQB – OBEL) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce our first quarter 2020 financial and operational results. All figures are in Canadian dollars unless otherwise stated. Obsidian Energy's unaudited interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") as at and for the three months ended March 31, 2020 can be found on our website at www.obsidianenergy.com. The documents [Read more]