EDMONTON - The Alberta legislature is expected to pass a bill today to kill the province's carbon tax on consumers. And the province says drivers and home and business owners should already be feeling the effects. As part of the bill, Premier Jason Kenney's government announced the carbon tax on gas at the pumps and on fossil-fuelled heating would end as of this morning. The premier's office says that, as with all tax change announcements, it takes effect at the time it's announced, [Read more]
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Canadian Natural: Brokerages say Devon deal attractive on most metrics
** Brokerages raise PT on Canadian Natural Resources on deal with Devon; JP Morgan raises by C$2 to C$50, GMP FirstEnergy by C$1 to C$50** CNQ said on Wednesday it would buy Devon Energy's Canadian assets for C$3.8 bln ** "CNQ was able to make the math work to acquire an asset that generates good FCF with synergy potential and future development upside" - JPM** Says cost per flowing barrel that co paid DVN was cheapest of recent oil sands transactions** GMP says not [Read more]
Point Loma Resources Announces Two Well Farm-out to Further Delineate the Wizard Lake Rex Oil Discovery
CALGARY, AB / ACCESSWIRE / May 30, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce a farm-out on the Corporation's evolving Wizard Lake Rex oil discovery and provides an operational update. Highlights: Point Loma's current 30% working interest partner, Salt Bush Energy Ltd. ("Salt Bush"), has agreed to a two well farm-in transaction with Point Loma at Wizard Lake whereby Salt Bush will incur 100% of the costs to drill, [Read more]
Connacher Announces Q1 2019 Results
CALGARY, May 29, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its financial and operating results for the quarter-ended March 31, 2019 (all amounts are in Canadian dollars unless otherwise noted). Q1 2019 Highlights Financial Q1 2019 revenue, net of royalties, increased to $53.6 million (Q1 2018 - $33.9 million), primarily due to higher crude oil benchmark pricing, partially offset by lower sales volumes In Q1 2019, the Company recorded [Read more]
Canadian Spirit Resources Inc. Announces First Quarter 2019 Financial Results and Election of New Director
CALGARY, Alberta, May 29, 2019 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) is pleased to announce the release of its interim financial results and Management Discussion and Analysis (“MD&A”) for the three month period ended March 31, 2019 and the election of Louisa DeCarlo of Calgary, Alberta as a director of the Corporation. First Quarter 2019 This news release summarizes information contained in the unaudited interim [Read more]
Toscana Energy Completes Renewal of its Credit Facilities
CALGARY, Alberta, May 29, 2019 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) is pleased to announce that it has renewed its revolving operating credit facility with its Senior Lender at the existing level of $25 million. The terms of the amended credit facilities remain unchanged with the exception of additional compliance, consent and reporting requirements relating to Toscana’s provincial liability management rating and decommissioning [Read more]
Pieridae Announces First Quarter Results
Focus on Advancing Goldboro LNG Continues CALGARY, Alberta, May 29, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA - TSXV) has filed its first quarter (“Q1”) unaudited condensed interim financial statements and related management’s discussion and analysis (“MD&A”) for the first three months of 2019. Pieridae's unaudited condensed interim financial statements and MD&A are available on our website at www.pieridaeenergy.com and are filed on SEDAR at [Read more]
Highwood Oil Company Ltd. Announces First Quarter 2019 Results
/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/ CALGARY, May 29, 2019 /CNW/ - Highwood Oil Company Ltd., ("Highwood" or the "Corporation") (TSXV: HOCL) is pleased to announce financial and operating results for the quarter ended March 31, 2019. The Corporation also announces that its unaudited financial statements and associated Management's Discussion and Analysis ("MD&A") for the quarter ended March 31, 2019, can be found at www.sedar.com and [Read more]
Tourmaline Releases Enhanced Five-Year Development Plan Focusing on Significant Free Cash Flow Acceleration
CALGARY, May 29, 2019 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to provide details of an enhanced five-year development plan. FREE CASH FLOW ACCELERATION PLAN: SUMMARY OF PLAN CHANGES Aggregate free cash flow increases by approximately $840 million to a total of approximately $3.05 billion over the five years. Annual production and cash flow(2) are essentially unchanged from the previous plan. Growth capital directed primarily to Gundy [Read more]
Canadian Natural buying Devon Energy’s Canadian assets for $3.8 billion
CALGARY - Canadian Natural Resources Ltd. has signed a deal to buy the Canadian operations of Devon Energy Corp. for $3.8 billion. The assets include thermal in situ oilsands production and conventional primary heavy crude oil operations located adjacent to existing Canadian Natural assets. The production acquired under the deal totals 128,300 barrels per day, including 108,200 from the thermal in situ operations and 20,100 from the conventional operations. Canadian [Read more]