CALGARY, March 7, 2019 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) announces its financial and operating results for the year ended December 31, 2018. 2018 Highlights Average Production of 9,425 boe/d an increase of 64% from 2017. Oil and gas sales were $134 million with funds flow from operations of $82 million ($0.97 per share - basic). Adjusted EBITDA (which excludes changes in derivative financial instruments) was $82 million ($0.97 per share - [Read more]
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MEG Energy reports record operational results for 2018
All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, March 7, 2019 /CNW/ - MEG Energy Corp. (TSX:MEG, "MEG") today reported full-year 2018 results "While 2018 saw strong operational successes, the challenging commodity price environment, particularly during the fourth quarter, hindered bitumen realizations and adjusted funds flow for the company. Notwithstanding commodity price volatility and significant organizational changes, MEG's solid foundation remains [Read more]
Oilsands producer MEG Energy posts $199M loss, vows to ship more oil by rail
CALGARY - Oilsands producer MEG Energy says it has doubled its crude-by-rail shipments and will double them again to maximize prices in view of insufficient pipeline export capacity from Western Canada. The Calgary-based company says steep discounts for the bitumen it produces at its northern Alberta steam-driven project resulted in a net loss of $199 million or 67 cents per share in the fourth quarter of 2018. That compares with a net loss of $24 million or eight cents per share [Read more]
Freehold Royalties Ltd. Announces 2018 Results and Unveils 2019 Guidance
CALGARY, Alberta, March 07, 2019 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced fourth quarter and year-end results for the period ended December 31, 2018. Results at a Glance Three Months Ended Twelve Months Ended December 31 December 31 FINANCIAL ($000s, except as noted) 2018 2017 Change 2018 2017 Change Royalty and other revenue 24,902 38,435 -35 % 145,236 151,894 -4 % Funds from [Read more]
Trudeau not the prime minister of Quebec: Saskatchewan premier
Western premiers say the SNC-Lavalin affair is distracting Prime Minister Justin Trudeau at a time he should be focused on jobs in their region. Saskatchewan Premier Scott Moe has taken aim at the prime minister's comments about the 9,000 jobs tied to the Quebec company. Moe says Trudeau needs to be reminded he is not the premier of Quebec and that thousands of jobs have been lost in the energy sector. Alberta Premier Rachel Notley released a statement this week about [Read more]
Paramount Resources Ltd. Reports 2018 Annual Results and Provides 2019 Guidance
CALGARY, March 7, 2019 /CNW/ - OIL AND GAS OPERATIONS Annual sales volumes averaged 85,941 Boe/d (37 percent liquids) in 2018, an increase of 91 percent compared to average sales volumes of 44,970 Boe/d (40 percent liquids) in 2017. Fourth quarter 2018 sales volumes averaged 84,495 Boe/d (38 percent liquids). Adjusted funds flow in 2018 was $263.9 million or $2.00 per share. Liquids revenue was $682.6 million or 71 percent of total revenue. Capital spending in 2018, excluding land [Read more]
Obsidian Energy Appoints Michael Faust as Interim President and Chief Executive Officer
CALGARY, March 7, 2019 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") today announced the appointment of Michael J. Faust as interim President and CEO, effective March 18, 2019 for a period of twelve months with an optional six-month extension. Mr. Faust will succeed current President and CEO, David French, who will step down from the Company effective March 29, 2019. Mr. French will not stand for reelection as a director at [Read more]
Crescent Point Announces 2018 Results and Reserves
CALGARY, March 7, 2019 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2018. KEY HIGHLIGHTS Over $400 million of excess cash flow expected to be available in 2019 for net debt repayment and additional share repurchases based on current strip prices. This amount excludes proceeds from any additional dispositions. Strong capital discipline with [Read more]
Obsidian Energy Announces Year-End 2018 Financial and Operational Results; Divests Non-Core Asset; Proposes 7:1 Common Share Consolidation; and Announces David French to Step Down as President and CEO
CALGARY, March 7, 2019 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce its year-end 2018 financial and operational results. All figures are in Canadian dollars unless otherwise stated. Obsidian Energy's audited consolidated financial statements and Management's Discussion and Analysis ("MD&A") as at and for the year-ended December 31, 2018 can be found on our website at www.obsidianenergy.com. The [Read more]
Baker Hughes, a GE company Announces February 2019 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for February 2019 was 1,027, up 3 from the 1,024 counted in January 2019, and up 48 from the 979 counted in February 2018. The international offshore rig count for February 2019 was 250, up 8 from the 242 counted in January 2019, and up 56 from the 194 counted in February 2018. The average U.S. rig count for February 2019 was 1,049, down 16 from the 1,065 [Read more]