Oil futures jumped more than $1 a barrel on Thursday, recovering half of the nearly 5% losses in the previous session, on expectations that lower prices may lead to production cuts. U.S. West Texas Intermediate (WTI) crude futures jumped $1.51, or 2.96%, to $52.60 a barrel, while Brent crude rebounded to $57.75 a barrel, up $1.52, or 2.7%, from its last close by 0401 GMT, Both contracts hit their lowest levels since January on Wednesday after a surprise build in U.S. crude inventories [Read more]
Headlines
Delphi Energy Corp. Reports Second Quarter 2019 Results
CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its financial and operational results for the quarter ended June 30, 2019 and to provide an operations update. SECOND QUARTER 2019 HIGHLIGHTS Successfully concluded completion and tie-in operations on the 13-34-059-24W5 four-well pad (2.6 net) which was brought on-stream throughout the second quarter; Reduced bank debt plus working capital deficiency by $7.1 [Read more]
Bellatrix Exploration Ltd. Announces Second Quarter 2019 Financial and Operating Results
CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix”, "we", "us", "our" or the “Company”) (TSX: BXE) announces its financial and operating results for the three and six months ended June 30, 2019. This press release contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the end of this press release and the beginning of the Management’s Discussion and Analysis (the [Read more]
Western Canadian crude inventories fall to smallest level in nearly two years
Western Canadian crude oil inventories fell in July to their lowest level in nearly two years, energy information provider Genscape said on Wednesday, as crude-by-rail shipments accelerated. Total stocks were 27.7 million barrels as of July 26, down sharply from the record high of 37.1 million barrels set in April. The inventories were the lowest since November 2017. The decline follows Alberta government production curtailments that were imposed on Jan. 1 to help drain a glut of crude in [Read more]
Heavy discount settles unchanged
The differential on Canadian heavy crude against the North American benchmark settled unchanged on Wednesday: * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, settled at $12.90 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange, matching Tuesday's settled price. * Brisk rail movement and government limits on production are keeping the differential tight, a Calgary-based industry source said. * Western Canadian [Read more]
Peyto Announces Q2 2019 Results
CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present its operating and financial results for the second quarter of the 2019 fiscal year. A 66% Operating Margin(1) and a 85% Profit Margin(2) in the quarter, including a one-time deferred income tax recovery, delivered a 5% return on capital employed (ROCE) and a 10% return on equity (ROE), on a trailing twelve month basis. Additional highlights [Read more]
Gear Energy Ltd. Announces Second Quarter 2019 Operating Results, Intention to Institute a Normal Course Issuer Bid and Board of Directors Changes
CALGARY, Aug. 7, 2019 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following second quarter operating update to shareholders. Gear's Interim Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended June 30, 2019 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary (Cdn$ thousands, per boe amounts) Three months [Read more]
Bonterra Energy Corp. Announces Second Quarter 2019 Financial and Operational Results
CALGARY, Aug. 7, 2019 /CNW/ - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") is pleased to announce its operating and financial results as at and for the three and six months ended June 30, 2019. The related unaudited condensed financial statements and notes, as well as management's discussion and analysis ("MD&A"), are available on SEDAR at www.sedar.com and on Bonterra's website at www.bonterraenergy.com. HIGHLIGHTS Three [Read more]
U.S. natgas futures fall to near 3-yr low as oil prices plunge
U.S. natural gas futures for Wednesday slipped close to a 38-month low with a 5% drop in crude prices and forecasts for less gas demand next week than previously expected. The move lower came despite a decline in production and forecasts that power demand in Texas would rise to a record high over the next week as a heat wave bakes the state. Front-month gas futures for September delivery on the New York Mercantile Exchange fell 2.8 cents, or 1.3%, to settle at $2.083 per million British [Read more]
Oil slumps to new seven-month low on trade tensions
Oil prices fell further on Wednesday, extending recent heavy losses as deepening U.S.-China trade tensions weighed on the outlook for the global economy and energy demand. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down $1.17, or 2.18%, at $52.46. Brent crude futures LCOc1 were down $1.04, or 1.75%, at $57.90 a barrel by 1251 GMT, setting a fresh seven-month low. Prices have lost more than 20% since hitting their 2019 peak in April. Brent has plunged more than 10% [Read more]