Canadian Prime Minister Justin Trudeau said on Wednesday his government would provide C$27 billion ($18.6 billion) in direct support to families and businesses struggling because of the coronavirus outbreak, and stood ready to do more. It was his biggest move yet to combat the economic impact of the fast-spreading virus, which has infected some 700 Canadians in all 10 provinces, killing nine. In an unprecedented move, Canada and the United States shut their vast common border on Wednesday to [Read more]
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U.S. crude hits 18-year low as lockdowns, restrictions spread
Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to an 18-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand. U.S. crude was down $5.30 , or over 19%, at $21.50 per barrel. The last time oil was trading that low, China had only begun its rise as a major global economic power that propelled the world’s oil consumption to record highs in subsequent years. Brent crude was trading down $3.50, or over [Read more]
Pembina Pipeline Takes Action to Protect Stakeholders and Significantly Reduces 2020 Capital Spending in Response to the Recent Decline in Global Energy Prices
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"), the ratio of adjusted funds from operations to adjusted debt, and fee-based distributable cash flow, which are financial measures that are not defined by Generally Accepted Accounting Principles ("GAAP"). For more information see "Non-GAAP Measures" herein. CALGARY - In response to the [Read more]
InPlay Oil Corp. Announces its 2019 Financial, Operating and Reserves Results Highlighted by a 20% Increase in Adjusted Funds Flow over 2018
CALGARY, Alberta - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2019, and the results of its independent oil and gas reserves evaluation effective December 31, 2019 (the “Sproule Report”) prepared by Sproule Associates Limited (“Sproule”). InPlay’s audited annual financial statements and notes, as well as Management’s Discussion and Analysis (“MD&A”) for [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Mar. 17 Senior Project Engineer Brunel Sarnia Mar. 17 Lead Telecommunications Engineer - Operations Brunel Calgary Mar. 17 Senior Telecommunications [Read more]
Kelt Reduces 2020 Capital Expenditure Program by 36%
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") announces that it's board of directors has approved a reduction in capital expenditures for 2020. The Company has reduced its capital expenditure budget by $80.0 million or 36% to $145.0 million (previously $225.0 million). The energy industry continues to experience high volatility with lower crude oil prices driven by fears of a retraction in global economic growth and increases in crude oil supply as oil [Read more]
Pipestone Energy Corp. Announces 2019 Annual Filings and Approval of Long-term Incentive Awards to Directors and Management
CALGARY, Alberta - (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) announces that it has filed its audited consolidated financial statements, management’s discussion and analysis, and annual information form for the year ended December 31, 2019 on the Company’s profile at SEDAR at www.sedar.com, and has posted them to the Company website at www.pipestonecorp.com. The Company would also like to announce that in connection with its annual compensation review for [Read more]
Cardinal Energy Ltd. Announces Fourth Quarter 2019 Year-end Financial Results and Updated Capital Budget and Dividend Suspension
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2019. 2019 FINANCIAL HIGHLIGHTS Production for the fourth quarter of 2019 averaged 20,227 boe/d with crude oil production increasing by 1% over the third quarter of 2019. As the Company is no longer limited by the Alberta government's curtailment program, current production in March is approximately [Read more]
Whitecap Announces Actions to Fortify Balance Sheet and Strengthen Position
CALGARY - Whitecap Resources Inc. ("Whitecap" or the "Company") is employing proactive measures in response to current market conditions and the sharp decline in global commodity prices. Whitecap has persevered through previous commodity price cycles and will continue to focus on a strategy that protects the business, our balance sheet and liquidity and to provide returns to our shareholders. The current crude oil price weakness has significantly reduced the expected returns from our 2020 [Read more]
Gibson Energy Announces the Addition of Ms. Judy Cotte to the Company’s Board of Directors
CALGARY, Alberta - Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today that Ms. Judy Cotte will join the Company’s Board of Directors effective March 17, 2020. “We are very excited to have Judy Cotte join Gibson’s Board of Directors,” said James Estey, Chairman of Gibson. “Judy has significant legal experience, including the last 10 years exclusively focused on ESG, and is a recognized expert on ESG and responsible investment. Her addition reflects the Board’s ongoing [Read more]