CALGARY, Jan. 15, 2019 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to update 2019 guidance and ongoing EP activities. PRODUCTION UPDATE 2019 average production guidance of 300,000 boepd, representing 12% year-over-year growth, remains unchanged. A 1H 2019 average production range of 290,000-300,000 boepd and a 2H 2019 average production range of 310,000-320,000 boepd are forecast. Current production is within the 1H 2019 guidance range of [Read more]
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Storm Resources Ltd. Announces Operational Update
CALGARY, Alberta, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Storm Resources Ltd. ("Storm" or the "Company") (TSX:SRX) is providing an operational update which includes estimated production for the fourth quarter of 2018 and an estimate of the anticipated effect of an ongoing unplanned outage at the McMahon Gas Plant that started January 2, 2019. Production in the fourth quarter of 2018 is estimated to have averaged approximately 22,300 Boe per day which includes 4,100 barrels per day of liquids [Read more]
Indigenous energy summit includes session on pipeline ownership options
CALGARY - First Nations that produce oil and gas in Canada will hear presentations Wednesday at the Indigenous Energy Summit on how they might take ownership of major energy projects, including the Trans Mountain pipeline. Steven Saddleback of the Indian Resource Council says a session will feature presentations on financing models that could be followed to allow ownership of major projects including the oil pipeline from Edmonton to Burnaby, B.C. When the federal government bought Trans [Read more]
Athabasca Oil Corporation Closes $265 Million Leismer Infrastructure Transaction
CALGARY, Alberta, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) has closed the previously announced Leismer Infrastructure Transaction with Enbridge Inc. for $265 million cash consideration. Transaction proceeds are approximately 50% of Athabasca’s market capitalization and significantly bolster the Company’s liquidity, reduce net debt and improve financial resiliency. Leismer’s cost structure remains competitive with other top tier oil [Read more]
BP scales back exploration plans off N.S., gives up half its offshore area
HALIFAX - BP Canada is scaling back its oil and gas exploration plans off Nova Scotia, giving up half the offshore area included in its exploration licence. The Canada-Nova Scotia Offshore Petroleum Board says the energy giant is surrendering 50 per cent of the area included in its licence — a consolidation of four offshore parcels roughly 300 kilometres southeast of Halifax. The move comes after BP failed to drill four wells within the first phase of its exploration licence, required for [Read more]
Tamarack Valley Energy Ltd. Announces 2019 Guidance and Record Fourth Quarter 2018 Production
TSX: TVE CALGARY, Jan. 15, 2019 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce its 2019 capital budget, associated guidance and an operational update. Incorporating December field estimates, the Company achieved record production of approximately 24,780 boe/d in Q4/18 with an oil and natural gas liquids ("NGL") weighting of approximately 66%, in line with its exit guidance range of 24,500 - 25,000 boe/d (65-67% oil and NGL), while spending [Read more]
Canada picks an international role model but does it have to be Venezuela?
Two countries in the modern age seem to despise their resource sector, or their elite leadership does anyway. Most, if not all, other countries are proud of theirs. It is not hard to see why most nations cherish their natural bounty of resources. There is something elementally important about a nation having more of any given raw material than they actually need at present. Ones that lack sufficient natural resources are often skittish and paranoid, roughly speaking, because they are beholden [Read more]
Bellatrix Announces a Fourth Quarter 2018 Operational Update and 2019 Capital Budget
CALGARY, Alberta, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) announces a fourth quarter 2018 operational update with full year average volumes exceeding guidance, and its 2019 capital budget designed to deliver stable corporate production volumes, supported by strong commodity price risk management and market diversification contracts. 2018 Production Volumes Exceed Full Year Average Guidance Bellatrix drilled and or [Read more]
Crescent Point Announces 2019 Budget and Quarterly Dividend
CALGARY, Jan. 15, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce its 2019 budget. KEY HIGHLIGHTS Disciplined and returns focused 2019 capital budget of $1.20 to $1.30 billion. Maintaining annual average production at 170,000 to 174,000 boe/d, net of dispositions executed in 2018. Approved a share repurchase program given the Company's current share price versus its fundamental value. Excess cash flow to be [Read more]
4 years after vetoing Keystone XL, Barack Obama’s upcoming Calgary visit rubs salt in the wound
Yesterday it was announced former United States President Barack Obama will be speaking at the Saddledome in Calgary in less than 2 months. His March 5th speech comes almost exactly 4 years after vetoing TransCanada's Keystone XL pipeline project. His upcoming arrival serves as a difficult reminder of the severe damage President Obama inflicted on Alberta's oil and gas industry. 4 years after his veto of Keystone XL, and his tarnishing Alberta oil's reputation, we have seen just how much [Read more]