CALGARY, ALBERTA--(Marketwired - Feb. 23, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") announced its financial and operating results for the fourth quarter and full year ended December 31, 2016. This press release is an overview of the fourth quarter and full year results for 2016 and should be read with the audited consolidated financial statements and Management's Discussion and Analysis (MD&A) for the fourth quarter and full year ended December 31, 2016 available on [Read more]
Headlines
Alberta energy regulator releases rules on heavy oil odours
CALGARY - Alberta's energy regulator has set new rules to deal with long-standing complaints about powerful, gassy smells from heavy oil operations in the Peace River region. The rules, released late Thursday, grew out of a 2014 inquiry held by the regulator after years of complaints from people in tiny communities neighbouring the operations. Residents had complained for years that the odours gave them headaches, nausea and diarrhea. They said their livestock was similarly [Read more]
Altura Energy Inc. Grows its 2016 PDP Reserves Per Share by 153%
CALGARY, Feb. 23, 2017 /CNW/ - Altura Energy Inc. ("Altura" or the "Company") (TSX Venture: ATU) is pleased to announce the results of the independent evaluation of the Company's oil and natural gas reserves (the "McDaniel Report"), effective December 31, 2016, as prepared by McDaniel and Associates Consultants Ltd. ("McDaniel"). Altura's audit of its 2016 annual financial statements is not yet complete and accordingly all financial amounts referred to in this news release are unaudited and [Read more]
Zargon Oil & Gas Ltd. Announces Q4 2016 Production Volumes and 2016 Year End Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 23, 2017) - Zargon Oil & Gas Ltd. (the "Company" or "Zargon") (TSX:ZAR)(TSX:ZAR.DB) announces fourth quarter 2016 production volumes and announces 2016 year end reserves. Zargon intends to release its 2016 audited financial results on March 15, 2017, after market close. 2016 FOURTH QUARTER PRODUCTION VOLUMES: Fourth quarter 2016 production averaged 1,952 barrels of oil and liquids per day, a 33 percent decrease from the preceding quarter rate of [Read more]
BlackPearl Announces Fourth Quarter and Full Year 2016 Financial and Operating Results and Year-End Reserves and Resources, Work Commences on Phase 2 Thermal Expansion at Onion Lake
CALGARY, ALBERTA--(Marketwired - Feb. 23, 2017) - BlackPearl Resources Inc. ("we", "our", "us", "BlackPearl" or the "Company") (TSX:PXX)(OMX:PXXS) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2016, the results of its 2016 year-end oil and gas reserves and resource evaluations and the commencement of construction of the Phase 2 thermal expansion at Onion Lake. Highlights and accomplishments included: Onion Lake is the [Read more]
Pembina Pipeline Corporation Reports Record Annual Results in 2016
Execution of strategy and growth delivered record operational and financial results in 2016All financial figures are in Canadian dollars unless noted otherwise. CALGARY, Feb. 23, 2017 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the fourth quarter of 2016. Financial Overview ($ millions, except where noted) 3 Months Ended December 31 [Read more]
Well fracking companies say oilfield services prices still too low for profits
CALGARY - The two largest publicly traded Canadian oilfield fracking companies say prices for their services continue to be unsustainably low despite rising activity spurred by higher oil and gas prices. Calfrac Well Services (TSX:CFW) and Trican Well Service (TSX:TCW), both based in Calgary, say they don't expect a return to normal pricing levels until the second half of this year. The companies work for oil and gas producers to provide well completion services such as [Read more]
Surge Energy Inc. announces 2016 year end reserves; new net asset value of $5.47 per share; and $3.74 per boe FD&A
CALGARY, Feb. 23, 2017 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") announced the results of its independent reserves evaluation (the "Sproule Report") effective December 31, 2016, as prepared by Sproule Associates Limited ("Sproule"). Surge is pleased to announce an increase in the Company's year-end 2016 net asset value ("NAV") of more than 12 percent per share over 2015, to $5.47 per share. The Company also reported that its 2016 capital program resulted in a finding, [Read more]
The Dakota Protest Campsites Are Officially Emptied Out
Only a handful of stragglers remain at campsites in North Dakota set up for activists protesting the Dakota Access Pipeline. Gov. Doug Burgum, a Republican, said during a news conference Wednesday there are only 25 to 50 protesters left at the Riverside campsite. He said the anti-DAPL activists were still free to leave if they don’t interfere with sanitation crews scheduled to enter the site at 9 a.m. Thursday. “We’ve very firm that the camp is now closed,” Burgum said at the news conference. [Read more]
Canadian oil and gas companies reduce headcount by as much as 50% during downturn
Not all changes were made in a value-focused and sustainable way CALGARY, Feb. 23, 2017 /CNW/ - According to a new EY market study, completed in association with the University of Calgary's Haskayne School of Business, 81% of oil and gas companies that reduced headcount by between 25% and 30% during the downturn reported the highest level of reorganization success. "Our study results point to a clear relationship between greater headcount reductions and overall perceived success of [Read more]