CALGARY - Cenovus Energy Inc. reported a $1.36-billion loss in its latest quarter as it faced deep discounts for Western Canadian Select oil. The company says the loss amounted to $1.10 per share for the quarter ended Dec. 31, compared with a profit of $620 million or 50 cents per share in the last three months of 2017 when its results were boosted by the sale of assets in Alberta and Saskatchewan. Cenovus had an operating loss from continuing operations of $1.67 billion or $1.36 [Read more]
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Bonterra Energy Corp. Announces Year End 2018 Corporate Reserves Information
CALGARY, Feb. 13, 2019 /CNW/ - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") is pleased to provide the summary results of its independent reserve report (the "Sproule Report") prepared by Sproule Associates Limited ("Sproule") with an effective date of December 31, 2018. Corporate Reserves Information The following summarizes certain information contained in the Sproule Report. The Sproule Report was prepared in accordance with the definitions, [Read more]
Cenovus delivers strong operating performance in 2018
Company reduces debt and maintains capital discipline CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operating performance in 2018 while demonstrating financial resilience in a challenging and volatile Canadian commodity price environment. “In the fourth quarter, in some of the most difficult macro-economic conditions we’ve ever faced and while voluntarily managing our oil sands production lower, we remained relatively [Read more]
High-Strength Geosynthetics Combine on Energy Road Upgrade
Solve Challenges Across Soft Sub grades. Hwy 881, Encana By-Pass Road AB, Canada Project Background and Challenges In late 2016, Harvest Energy’s construction consultant, Drifter, was faced with rehabilitating and upgrading an existing access road to handle the rigors of a new plant expansion and commissioning. The modifications were being made to Harvest Operations Black Gold In-Situ Thermal SAGD plant located south of Conklin, AB. The existing Encana By-pass road was 11.5 KM (7.1 [Read more]
XI Technologies: Lack of critical mass could drive Junior divestitures in 2019
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here A recent article announcing the offering of a corporate/asset divestiture by Wolf Coulee Resources Inc. may be a sign of things to come as the Canadian oil and gas industry continues to adjust to difficult market conditions. As [Read more]
Petrocapita Announces Commencement of A Strategic Alternatives Process
CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Petrocapita Income Trust (CSE:PCE.UN) (“Petrocapita”, the “Company”, or the “Trust”) announces that further to the press release dated December 21, 2018 it has commenced a public strategic alternatives process. Petrocapita is open to all alternatives which include, but are not limited to, a sale of the Company for cash, a merger of the Company with another oil and natural gas entity, or a sale of some or all of the Company’s assets. Any [Read more]
Pine Cliff Energy Ltd. Announces 2019 Guidance and 2018 Year-End Reserves
CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE) is pleased to announce 2019 guidance and 2018 year-end reserves. 2019 Guidance Pine Cliff’s Board of Directors has approved a 2019 capital budget of $10.0 million that will be funded from adjusted funds flow. Pine Cliff intends to spend approximately $1.9 million drilling four (0.4 net) wells in the liquids rich Edson area of Alberta, $1.7 million drilling one (0.6 net) oil [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Feb. 11 Bench Fitter Strike Group Crossfield Feb. 11 Lead Operator Roska DBO Grande Prairie Feb. 11 Field Operator Roska DBO Dawson Creek Feb. [Read more]
Cequence Energy Announces Operations Update and Executive Appointment
CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to provide an operational update and announce an Executive Management change at the Company. Operations Update: Field production for the 2018 calendar year averaged approximately 6,490 boe/d (23% liquids), with January 2019 field estimates averaging 5,900 boe/d (27% liquids). The Company’s recent two gross, two net Dunvegan oil wells that were drilled and completed in [Read more]
Pieridae Energy Limited Announces Private Placement
CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) --Pieridae Energy Limited (“Pieridae”) (TSXV: PEA) is pleased to announce that it has entered into an agreement with a syndicate of investment dealers co-led by KES 7 Capital Inc. (“KES 7”), National Bank Financial Inc. (“NBF”), and Laurentian Bank Securities Inc. with KES 7 and NBF acting as joint book runners, in connection with a commercially reasonable efforts agency private placement of up to 7,500,000 common shares at a price of $2.00 per [Read more]