CALGARY, Alberta, April 22, 2019 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce its first quarter ("Q1 2019") operating and financial results for the period ended March 31, 2019. PRESIDENT’S MESSAGE First Quarter 2019 Highlights: • Total revenues of $73.2 million, up 42% from $51.6 million in Q4 2018, comprised of royalty production revenues of $66.5 million and other revenues of $6.7 million for the first [Read more]
Headlines
Canadian conservative stars cast shadow over Trudeau rival’s hopes
Right-leaning Canadian politicians have won important elections over the last year, but it may do Liberal Prime Minister Justin Trudeau more good in October's national vote than his little-known Conservative Party challenger.Andrew Scheer, 39, has struggled to become a household name since taking over as leader of the federal Conservatives in 2017, a problem not shared by the telegenic Trudeau, whose father led the country for more than 15 years.Last week, Alberta's United Conservative [Read more]
Acquisitions, insolvencies cited as drilling company count tumbles by 40%
CALGARY - A research report by AltaCorp Capital shows the number of companies actively drilling in Canada has declined by 40 per cent since the oil price crash of late 2014. The analysis cites industry data which shows only 26 drilling contractors have been working so far in 2019, 17 fewer than observed in 2014. It says consolidation is the biggest reason companies have disappeared, with seven companies holding about 17 per cent of market share being purchased over the period, including [Read more]
Youth, technology and sustainable energy development: this is the exciting future
Young people, we need you! The world needs you. Not to protest, but to build. Not to complain, but to solve. Not to panic, but to overcome. A movement has swept the world, stating that the future of humanity is threatened by climate change. You've seen it on the news, students have taken to the streets to protest environmental inaction. Greta Thunberg, the fearless 16-year old Swedish leader, has challenged the world's elite to stop stalling, to "feel panic like I do." What's that about? [Read more]
NCS Multistage announces the grand opening of their Technology Center, located in Southeast Calgary
Calgary, Alberta – Join NCS Multistage for the grand opening of their new Technology Center, 9:00 am until 4:00 pm on Wednesday, April 24. This is an opportunity to see behind the curtain of NCS Multistage technology development. Tours of the facility will last approximately one hour, and there will be mini-workshops covering the following topics: Reservoir Strategizing What about your Reservoir Tool Evolutions Take a one-time peek behind the curtain Plug Training [Read more]
Jason Kenney, Rachel Notley begin formal transfer of power in Alberta
EDMONTON - Premier Rachel Notley and incoming premier Jason Kenney began the formal transfer of power in Alberta on Thursday, with Notley saying Kenney is already getting real-life lessons on the difference between political grandstanding and governing. The NDP's Notley said that since the United Conservative leader won Tuesday's Alberta election, Quebec has rebuffed his public pitch to accept new pipelines and the B.C. government officially endorsed this week a federal bill to formalize [Read more]
Canada Weekly Rig Count Remains at 66
Western Canada’s fleet of drilling rigs remained at 66 according to data collected by Baker Hughes for the week of April 18th. From last Friday, Alberta rig counts remained at 48. Saskatchewan's rig count remained at 1 Oil drilling went from 18 to 19; natural gas rigs went from 48 to 47. View a full breakdown of western Canada’s rig activity. [Read more]
Lower price discounts to boost Q1 oil profits but uncertainty hangs over sector
CALGARY - Lower discounts on western Canadian oil prices have swollen producer coffers in the first three months of the year, but analysts say they don't expect to see increases in drilling budgets as oil and gas companies report results over the coming weeks. Cenovus Energy Inc. reports its first-quarter results on Wednesday, followed by fellow oilsands producers Husky Energy Inc. and Imperial Oil Ltd. at the end of next week. U.S. benchmark West Texas Intermediate spot prices [Read more]
U.S. oil drillers cut rigs for first week in three
U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country's largest oil fields, continue to shrink.Drillers cut eight oil rigs in the week to April 18, bringing the total count down to 825, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Thursday. Baker Hughes released the report a day early this week due to the Good Friday holiday.The [Read more]
Federal government extends deadline to make Trans Mountain decision to June 18
OTTAWA - The federal government is delaying its decision on the Trans Mountain pipeline expansion project until June 18. Natural Resources Minister Amarjeet Sohi says the extended deadline will give the government more time to complete its consultations with Indigenous groups. The National Energy Board endorsed an expansion of the Trans Mountain pipeline on Feb. 22, starting the clock on a 90-day period for Ottawa to make a final call. That established May 22 as the original [Read more]