CALGARY, May 8, 2019 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following first quarter operating update and 2019 budget to shareholders. Gear's Interim Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended March 31, 2019 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 [Read more]
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Yangarra Announces First Quarter 2019 Financial and Operating Results
CALGARY, May 8, 2019 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) announces its financial and operating results for the three months ended March 31, 2019. First Quarter Highlights Average production of 11,956 boe/d (52% liquids) during the quarter, a decrease of 2% from the fourth quarter of 2018 and a 59% increase from the same period in 2018. Oil and gas sales were $39.9 million, an increase of 34% from the same period in 2018. Funds flow from [Read more]
Construction accident in Alberta’s energy sector kills two workers
FOX CREEK, Alta. - A construction accident in northern Alberta has killed two workers. Source Energy Services says in a statement that the contractors died on Tuesday during work on additional storage capacity for what's known as fracking sand at the company's terminal near Fox Creek, about 260 kilometres northwest of Edmonton. The sand is used by companies in Alberta's energy sector to extract oil and natural gas from tight geologic formations. The RCMP and the provincial Occupational [Read more]
Kelt Reports Financial and Operating Results for the Three Months Ended March 31, 2019
CALGARY, Alberta, May 08, 2019 (GLOBE NEWSWIRE) -- Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) has released its financial and operating results for the three months ended March 31, 2019. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended March 31 (CA$ thousands, except as otherwise indicated) 2019 2018 % Petroleum and natural gas revenue, before royalties [Read more]
Perpetual Energy Inc. reports first quarter 2019 financial and operating results
CALGARY, May 8, 2019 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release its first quarter 2019 financial and operating results. Highlights from the quarter include: Heavy oil production in Eastern Alberta grew 30% relative to the prior year first quarter, driven by positive results from heavy oil focused drilling and waterflood investment during the second half of 2018. Perpetual's market diversification strategy delivered [Read more]
Pengrowth Delivers First Quarter 2019 Adjusted Funds Flow of $16 Million on Increased Bitumen Production at Lindbergh, Robust Commodity Prices and Lower Costs
fCorporate Operating Netbacks More Than Triple Since the Prior Quarter to Deliver the Strongest Quarterly Adjusted Funds Flow in More than a Year CALGARY, Alberta, May 08, 2019 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (“Pengrowth” or the "Company") (TSX:PGF, OTCQX:PGHEF), today reported its results for the three months ended March 31, 2019. Unless otherwise indicated, financial figures are expressed in Canadian Dollars. "After the resilience Pengrowth demonstrated through record low [Read more]
Paramount Resources Ltd. Reports First Quarter 2019 Results: Adjusted Funds Flow of $100.5 million, Sales Volumes Average 81,296 Boe/d
CALGARY, May 8, 2019 /CNW/ - OIL AND GAS OPERATIONS Sales volumes averaged 81,296 Boe/d (37 percent liquids) in the first quarter of 2019. Paramount's netback increased 61 percent to $115.7 million in the first quarter of 2019 compared to $72.0 million in the fourth quarter of 2018, mainly due to a 26 percent average increase in realized prices. The liquids-rich Karr development accounted for $52.8 million (46 percent) of the Company's total netback in the first quarter. [Read more]
Athabasca Minerals increases Ownership in Duvernay Frac Sand Project
May-7, 2019 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) is pleased to announce that it has increased its ownership in the Duvernay Frac Sand Project (“Duvernay Project”) to 49.6% through the acquisition of an additional 33.4% interest in ‘Privco2’, a private Alberta corporation that owns the project. To date 55 auger holes have been drilled to assess the deposit and 395 samples have been delivered to AGAT Laboratories and 20 samples to Stim-Lab Inc [Read more]
XI Technologies: Decommissioning could be an opportunity for E&Ps and service companies alike
Many thanks to the Petroleum Services Association of Canada (PSAC) for the visuals in this article. Each week, XI Technologies scans for industry data, trends, and insights that have value for professionals doing business in the WCSB. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here During last week’s PSAC Midyear Update Luncheon petroleum industry writer, energy policy analyst, and consultant, David Yager, presented recent PSAC (Petroleum Services [Read more]
Leasing Opportunity: Karve Energy – East Central Alberta
Karve Energy Inc. owns the fee simple mineral rights for approximately 170,000 gross acres of land in east-central Alberta. We also own the proprietary rights to extensive 3D and 2D seismic data that can be made available to interested parties. Karve is interested in developing these rights through agreements that promote drilling and production. We are prepared to lease and/or farmout rights below the Viking formation. Click here for maps and further information [Read more]