CALGARY, Alberta, March 07, 2019 (GLOBE NEWSWIRE) -- Commenting on the Company's 2018 results, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, "In 2018 we demonstrated the strength of our diverse and balanced asset base, and our ability to create value for Canadian Natural's shareholders throughout the commodity price cycle. Canadian Natural's continued focus on effective and efficient operations, ability to exercise capital flexibility and our mix of long life low decline assets [Read more]
Headlines
Questerre executes agreement to acquire Quebec assets
CALGARY, Alberta, March 07, 2019 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has executed a definitive purchase and sale agreement with a senior exploration and production company (the “Agreement”) to acquire all their assets in Quebec. This follows the letter of intent signed in early 2018 as set out in the Company’s press release dated June 4, 2018. Pursuant to the Agreement, Questerre will acquire the exploration [Read more]
Painted Pony Announces Record Adjusted Funds Flow, 19% Increase in Proved Developed Producing Reserves Delivering a 3.1 Times Recycle Ratio, 2018 Year-End Financial and Operating Results
CALGARY, March 6, 2019 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) is pleased to announce year-end 2018 financial and operating results and reserves as of December 31, 2018. HIGHLIGHTS Financial Achieved record annual adjusted funds flow for Painted Pony of $175 million ($1.08 per share) in 2018 compared to $109 million ($0.78 per share) during 2017, an increase of 38% per share; Increased adjusted funds flow during the fourth quarter of 2018 [Read more]
Peyto Posts 19th Consecutive Year of Profits While Lowering Costs
CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to report operating and financial results for the fourth quarter and 2018 fiscal year. A 72% operating margin1 and 20% profit margin2 was achieved in 2018, despite the 37% drop in natural gas prices, allowing Peyto to achieve a 6% return on capital employed (“ROCE”) and an 8% return on equity (“ROE”) in the year. Highlights for the fourth quarter and full year 2018 [Read more]
Athabasca Oil Corporation Announces 2018 Year-end Results
CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to provide its 2018 year-end results and annual reserves. Athabasca is a liquids-weighted intermediate producer with exposure to Canada’s most active resource plays (Montney, Duvernay, Oil Sands). The Company’s high quality, long life assets provide investors with unique exposure to free cash flow which, combined with focus on strong margin opportunities, drives [Read more]
Chinook Energy Inc. Announces Fourth Quarter and 2018 Results
CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) -- Chinook Energy Inc. ("our", "we", or "us") (TSX: CKE) is pleased to announce its fourth quarter and 2018 financial and operating results. Our operational and financial highlights for the three months and year ended December 31, 2018 are noted below and should be read in conjunction with our consolidated financial statements for the years ended December 31, 2018 and 2017 and our related management’s discussion and analysis which have been [Read more]
Column: Excusing bribery hurts, not helps, Canadian jobs
Responding to allegations of political interference into criminal charges against SNC-Lavalin executives, the Prime Minister has been quoted as saying “we will always stand up for Canadian jobs”. Trudeau’s excusing of unethical conduct by executives at SNC-Lavalin is not standing up for jobs, in the long run he is putting jobs at risk. At worst, he is encouraging Canadian companies to engage in criminal acts opening the door for our economy to stagnate and degrade. SNC-Lavalin has enjoyed [Read more]
Pengrowth launches review after debt refinancing fails amid plunging oil prices
CALGARY - Pengrowth Energy Corp. has launched a strategic review of options that could include the sale of the company after failing to renegotiate its high debt load amid plunging western Canadian oil prices late last year. The Calgary-based company, which has reduced production at its key Lindbergh steam-driven heavy oil project in eastern Alberta to comply with the province's oil curtailment program, said Wednesday it has hired advisers to assist with the process. Shares in [Read more]
Pieridae Energy Limited Announces Partial Exercise of Over-Allotment Option in Respect of Brokered Private Placement and Closing of Second Tranche of Non-Brokered Private Placement
CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae”) (TSXV: PEA) is pleased to announce that it has issued 320,000 common shares at a price of $2.00 per share (the “Over-Allotment Offering”), for incremental gross proceeds of $640,000, pursuant to the partial exercise of an over-allotment option (the “Over-Allotment Option”) granted by the Company to a syndicate of investment dealers co-led by KES 7 Capital Inc., National Bank Financial Inc. and Laurentian [Read more]
STEP Energy Services cuts staff as Canadian oilfield spending slump continues
CALGARY - Another Calgary-based oilfield services company is reporting job cuts as activity in Canada slows due to lower oil and gas producer spending. STEP Energy Services Ltd. says it cut 13 per cent of its administrative staff in early 2019 and has reduced field staff by 12 per cent since Oct. 1. In a regulatory filing last year, the company indicated it had 1,120 employees at the end of 2017, most in Canada. It added about 400 U.S. staff with its $350-million [Read more]