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]
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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]
GPAC Luncheon: The Calgary Innovation Ecosystem
The Calgary Innovation Ecosystem Erik Allan, Tundra Process Solutions Ltd. Erik Allan is a professional engineer who’s been involved in a dozen start-ups over the past 12 years, and has spent the last 2 years running an oil & gas technology accelerator known as the Tundra ACE Program. Prior to starting the program, Erik invested hundreds of hours researching the Calgary innovation ecosystem to see where Tundra Process Solutions might be able to provide value to early stage companies. [Read more]
Athabasca Minerals Inc. Awarded Provincial Contract for Coffey Lake Public Pit
Athabasca Minerals Inc. Awarded Provincial Contract for Coffey Lake Public Pit March 6, 2019 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) announces it has been awarded a 15-year contract by the Province of Alberta to construct, operate and manage the Coffey Lake Public Pit north of Fort McMurray, Alberta. (i.e. “the Contract”). This Crown resource is situated on approximately 1345 acres of land about 90 km north of Fort McMurray. As per Alberta [Read more]
Canadian Natural Resources Limited Announces 2018 Fourth Quarter and Year End Results
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]
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]