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]
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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]
Low prices, LNG uncertainty add to frustration levels for natural gas producers
CALGARY - Greg Kist admits he was burned out when he resigned as president of Pacific NorthWest LNG at the end of 2014, as the Vancouver-based venture led by Malaysian energy giant Petronas advanced its ill-fated mission to build a liquefied natural gas project in B.C. "I needed to decompress," the 57-year-old gas industry veteran says of his decision to return to his home and family in Alberta. Once hailed as a voracious new consumer of western Canadian natural gas, the nascent [Read more]
RiggerTalk launches new website, transforms energy services network
RiggerTalk is proud to present its redesigned website: https://riggertalk.com/ RiggerTalk is the energy industry's most innovative, disruptive and economic way to market your service company and grow your business! With over 250,000 website users, 40,000 app downloads and growing an average of over 200 new daily users, RiggerTalk is the best way to advertise your services Worldwide. RiggerTalk is proven to get your company and services found and working. Include your company's location on [Read more]
Granite Oil Corp. Reports Second Quarter 2019 Financial and Operating Results
GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to report its operating and unaudited financial results for the three and six months ended June 30, 2019. Second Quarter Highlights and Operations Update During the first six months of 2019, Granite has reduced its net debt by over 10%, exiting the second quarter with net debt of approximately $42.8 million, down approximately $4.9 million from year-end 2018. Granite paid down approximately $0.8 million in net [Read more]
Vertex Resource Group Ltd. reports strong second quarter 2019 results
Sherwood Park, Alberta, August 9th, 2019 (TSXV:VTX) - Vertex Resource Group Ltd. (“Vertex” or the “Company”) reports its financial and operational results for the three and six months ending June 30, 2019, with comparisons to the same period in 2018. The following operational and financial highlights should be read in conjunction with the Management Discussion and Analysis (“MD&A”) and the interim consolidated financial statements and notes thereon of Vertex for the three and six months [Read more]
Surge Energy Inc. Announces Second Quarter Results; Appointment of CFO
CALGARY, Aug. 12, 2019 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce its financial and operating results for the quarter ended June 30, 2019. Q2/19 was an excellent quarter for Surge. Production and adjusted funds flow1 came in higher than analyst estimates2; and the Company's bank debt, net debt1, operating expenses, transportation expenses, and general and administrative costs all came in lower than budgeted expectations3. Production of 21,544 [Read more]
Barnwell Industries, Inc. Reports Results for the Third Quarter and Nine Months Ended June 30, 2019
Barnwell Industries, Inc. (NYSE American: BRN) today reported net losses of $1,365,000, $0.16 per share and $8,090,000, $0.98 per share, for the three and nine months ended June 30, 2019, respectively, as compared to net losses of $374,000, $0.05 per share, and $712,000, $0.09 per share, for the three and nine months ended June 30, 2018, respectively. Mr. Alexander Kinzler, Chief Executive Officer of Barnwell, commented, “The increase in the loss for the quarter ended June 30, 2019 as compared [Read more]
TransGlobe Energy Corporation Announces Second Quarter 2019 Financial and Operating Results
CALGARY, Alberta, Aug. 12, 2019 (GLOBE NEWSWIRE) -- AIM & TSX: “TGL” & NASDAQ: “TGA” TransGlobe Energy Corporation (“TransGlobe” or the “Company”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe's Condensed Consolidated Interim Financial Statements together with the notes related thereto, as well as TransGlobe's Management's [Read more]
Experts to advise Ottawa as it consults First Nations that want stake in TMX
A former Enbridge executive has been appointed to head a committee that will advise the federal government as it consults with Indigenous communities that want a financial stake in the Trans Mountain pipeline expansion. Finance Minister Bill Morneau says Linda Coady will lead a group of experts that will help the government during the engagement process. Coady was chief sustainability officer for Calgary-based Enbridge Inc. and was the former co-chair of the government's Generation Energy [Read more]