HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported third-quarter 2018 earnings of $1.9 billion, or $1.59 per share, compared with third-quarter 2017 earnings of $0.4 billion, or $0.34 per share. Excluding special items, third-quarter 2018 adjusted earnings were $1.6 billion, or $1.36 per share, compared with third-quarter 2017 adjusted earnings of $0.2 billion, or $0.16 per share. Special items for the current quarter were primarily for amounts recognized from the PDVSA [Read more]
Headlines
Pickering: Canadian oil is on sale, and investors should seize the opportunity
Canada’s oil patch has been the victim of bad PR for the past several years. Canadian crude has been labelled dirty, heavy, sour, and environmentally unfriendly. Canada hasn’t been able to make any progress on new pipelines, and the United States remains the only viable export market. Energy executives are openly wondering whether it makes sense to invest in this country. In addition to that negative sentiment, Canadian crude sells for about 60 per cent less than its American counterpart, West [Read more]
Crescent Point Announces Q3 2018 Results
CALGARY, Alberta, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the quarter ended September 30, 2018. KEY HIGHLIGHTS Announced updated strategy and transition plan on September 5, 2018, with a goal of becoming a more focused and efficient company with a stronger balance sheet. Completed previously announced organizational restructuring, resulting in [Read more]
XI Technologies: Let’s celebrate drilling and development successes in the first half of 2018!
Have you heard some of the good stuff that’s happening in the world of drilling in the WCSB? Likely not. Many of us in the industry scan headlines and keep up as best we can, relying on word of mouth or glances at elevator news screens to give us the news. But while much of the broader media coverage focuses on the many challenges our industry is facing, sometimes it’s good to remember that there are some real successes happening across the WCSB. About every six months, XI Technologies delves [Read more]
Visit the GPS Team Thurs, Oct 25 for Super Early Bird Conference Pass Pricing
Alberta minister Shannon Phillips says bill C-69 inadequate in current form
OTTAWA - Alberta's energy minister urged senators Wednesday to amend federal legislation that would overhaul energy project reviews. Environment Minister Shannon Phillips tried to make Alberta's case to the Senate that Bill C-69 can't be passed in its current form. After meeting with nearly 50 senators Phillips told reporters it's "fair to say" the bill will not pass unless changes are made. "Senate caucus groups, they are getting an earful from Albertans and Canadians, and they're in a [Read more]
TransGlobe Energy Corporation Announces an Operations Update
CALGARY, Alberta, Oct. 24, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) announces an operations update. All dollar values are expressed in US dollars unless otherwise stated. Updates Corporate production during the third quarter averaged ~ 14.3 MBoepd and is averaging ~ 14.7 MBoepd to date in October Drilled two successful oil wells in M Pool in West Bakr, currently producing ~800 Bopd per well. Cased NWG 38A7 as a potential injector/oil [Read more]
Marquee Energy Ltd. announces the closing of the previously announced non-core asset sale
CALGARY, Oct. 23, 2018 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQX") is pleased to announce that it has completed the previously announced disposition of its non-core asset for total cash consideration of $6.575 million, prior to closing adjustments (the "Transaction"). The proceeds from the sale of the assets will be used to reduce the Company's current debt and improve financial flexibility. GMP FirstEnergy acted as a financial advisor to Marquee with respect to the [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 Oct. 23 COILED TUBING SUPERVISOR - (MHT) Trican Well Service Ltd. Medicine Hat Oct. 23 COILED TUBING OPERATOR - (MHT) Trican Well Service Ltd. Medicine [Read more]
Lamond: Low Canadian oil prices call for an old remedy – prorationing
Canadian oil prices, especially heavy crude prices, have been enormously low over the past year due to the lack of take-away capacity. The press is full of accounts of Alberta and its oil producers losing up to 100 million dollars per day due to high differentials and discounted oil prices. This situation is likely to continue for the next two to three years and lead to enormous losses for Canadian producers and the Alberta government. This is particularly significant as Alberta holds royalty [Read more]