CALGARY, Aug. 13, 2019 /CNW/ - Jupiter Resources Ltd. and its affiliates (collectively, "Jupiter" or the "Company") today reported financial and operating results for the second quarter of 2019. Jupiter's second quarter financial results have been posted to the investor portal on the Company website. The Company will be hosting a conference call to discuss results on August 14, 2019. Conference Call Date: Wednesday, August 14, 2019 Time: 9:00 a.m. [Read more]
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Point Loma Resources Announces Successful Pool Extenstion at Wizard Lake
Point Loma Resources Ltd. (TSX VENTURE:PLX) (the “Corporation” or “Point Loma”) is pleased to announce the Wizard Lake HZ 1-8-48-27W4 Rex well has been successfully drilled and cased, on schedule and on budget. This is the first of two wells in a farmout program with Salt Bush Energy Ltd (“Salt Bush”). Highlights Well was successfully drilled from the existing 16-17Hz padsite to 3033m measured depth with a 1461m lateral section. Excellent reservoir quality was encountered throughout [Read more]
Fraser Institute News Release: Since 2014, Alberta unemployment rate increases while Texas rate drops
While both Alberta and Texas were hit hard by the oil-price drop in 2014, the Texas unemployment rate has dropped while the Alberta rate has risen, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “Some people in Alberta continue to blame the province’s comparatively high unemployment rate on the 2014 oil downturn, but Texas dealt with similar price drops and has done a much better job creating an environment where workers [Read more]
Exxon eyes UK North Sea exit after 50-year presence
Exxon Mobil is considering an exit from the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects. The world's largest publicly traded energy company, Exxon has held talks with a number of North Sea operators in recent weeks to gauge interest in some or all of its assets, which could fetch up to $2 billion, according to three industry sources with knowledge of the matter. Exxon declined to comment. Leaving the British [Read more]
U.S. natgas futures rise on forecast for higher demand next week
U.S. natural gas futures rose almost 2% on Tuesday on forecasts for more heat and cooling demand next week than previously expected despite an increase in output to a fresh record high. Front-month gas futures for September delivery on the New York Mercantile Exchange rose 3.7 cents to $2.142 per million British thermal units at 9:05 a.m. EDT (1305 GMT), or minus 1.8%. Front-month gas futures for September delivery on the New York Mercantile Exchange were up 1.8 cents, or 0.9%, to $2.123 per [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces Second Quarter 2019 Results and Operational Update
CALGARY, Aug. 13, 2019 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the three and six-month period ended June 30, 2019. SECOND-QUARTER 2019 FINANCIAL PERFORMANCE Recent Highlights Adjusted EBITDA for the second quarter of 2019 was $21.8 million or $0.07 per share, compared to [Read more]
Obsidian Energy Announces Update to its Syndicated Credit Facility and Peace River Oil Partnership Disposition
CALGARY, Aug. 13, 2019 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces the extension of the Company's syndicated credit facility with the underlying borrowing base and amount available under the syndicated credit facility remaining at $550 million and $460 million, respectively. The revolving period ends on February 28, 2020 with revolving period reconfirmation dates on November 19, 2019 and January 20, 2020. Under the [Read more]
Heavy discount narrows as end of monthly trade cycle looms
The Canadian heavy crude discount narrowed against benchmark West Texas Intermediate (WTI) futures on Monday: * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $10.95 per barrel below WTI, according to Net Energy Exchange. On Friday, it settled at $12.00 per barrel below WTI. * One Calgary-based industry source said there was strong buying as market players covered positions ahead of the end of the monthly trade cycle on [Read more]
Oil steadies as Saudi, Kuwait signals offset demand fears
Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. Investors were torn between forecasts of slowing global oil demand growth and chatter about renewed efforts by major producers to [Read more]
U.S. natgas futures rise on forecast for more demand despite record output
U.S. natural gas futures edged up on Monday as the market focused more on forecasts for more demand over the next two weeks than previously expected as opposed to an increase in output to record levels. Front-month gas futures for September delivery on the New York Mercantile Exchange rose 2.7 cents, or 1.3%, to $2.146 per million British thermal units (mmBtu) at 9:10 a.m. EDT (1310 GMT). That keeps the contract within 10 cents of the $2.070 close on Aug. 5, which was its lowest settle since [Read more]