CALGARY, Feb. 16, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") previously announced that it had entered into a CCAA Acquisition and Plan Sponsorship Agreement with East River Oil and Gas Ltd. ("Plan Sponsor") dated August 2, 2018, as amended (the "Plan Sponsorship Agreement") and entered into a Purchase and Sale Agreement with the Plan Sponsor also dated August 2, 2018, as amended (the "Purchase Agreement", and, together with the Plan Sponsorship Agreement, the [Read more]
Headlines
CN says train leaking crude following derailment in western Manitoba
ST-LAZARE, Man. - A train carrying oil has derailed and is leaking in Manitoba. Canadian National Railway says in a statement that 37 cars carrying crude left the tracks early Saturday morning near St-Larare, which is east of the Saskatchewan-Manitoba boundary. CN says there is "a partial leak" of crude, and that its environmental team is working to clean up the site and protect the environment. It says there are no reports of injuries or fires, and that it's still [Read more]
Bird River Resources Provides Operations Update
CALGARY, ALBERTA / ACCESSWIRE / February 15, 2019 / Bird River Resources Inc. (CSE: BDR) is pleased to provide this operations update for oil and gas operations through its wholly owned subsidiary High Point Oil Inc. (''High Point''). High Point continues to produce approximately 150 (75 net) barrels of oil per day (''bopd''). Except for November and December 0f 2018, this level of production is adequate to meet High Point's operating costs and contribute to capital development. The November [Read more]
Mexican president announces bailout for cash-strapped Pemex
MEXICO CITY - Mexican President Andres Manuel Lopez Obrador announced a $3.9 billion bailout for the country's cash-strapped, state-owned oil company Friday and promised it an additional $1.6 billion in revenue, making it a rescue package of up to $5.5 billion. Lopez Obrador has made rescuing Petroleos Mexicanos, or Pemex, a centerpiece of his first 100 days in office, launching an offensive against fuel theft gangs that drill illegal taps into Pemex pipelines. The extra revenue is [Read more]
Canada Weekly Rig Count Down 16 to 224
Western Canada’s fleet of drilling rigs decreased by 16 rigs to a total of 224 according to data collected by Baker Hughes for the week of February 15th. From last Friday, Alberta rig counts went from 159 to 153. Saskatchewan's rig count went from 57 to 53. Oil drilling went from 158 to 152; natural gas rigs went from 82 to 72. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for second week in a row
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels. Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is still higher than a year ago when 798 [Read more]
Natural gas liquids processing gains drive profit increase at Inter Pipeline
CALGARY - Inter Pipeline Ltd. says an increase in natural gas liquids processing volumes and revenue was the major driver behind higher earnings in the fourth quarter. The Calgary-based energy transport, processing and storage company says it had net income of $144 million or 36 cents per share in the last three months of 2018, compared with $142 million or 37 cents per share in the same period of 2017. Revenue from its liquids processing facilities rose to $120 million in the [Read more]
Full pipelines, new services propel Enbridge to street-beating $1.17B income
CALGARY - Enbridge Inc. says full oil and gas pipelines and the addition of new services led to fourth-quarter earnings that beat analyst expectations. Canada's largest pipeline operator says adjusted net income was $1.17 billion or 65 cents per share in the last three months of 2018, beating analyst estimates of $1.12 billion or 62 cents per share as noted by Thomson Reuters Eikon. A year ago, Enbridge reported adjusted earnings of $1.01 billion or 61 cents per share for the [Read more]
Harvest Operations Corp. Reports 2018 Year End Results
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Harvest Operations Corp. (“Harvest” or the “Company”) announced its financial and operating results for the fourth quarter and full year ended December 31, 2018. This press release is an overview of the fourth quarter and full year results for 2018 and should be read with the audited consolidated financial statements and Management’s Discussion and Analysis (MD&A) for the fourth quarter and full year ended December 31, 2018 available on [Read more]
Peyto Improves Sustainability and Expands Cardium Play in 2018
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present the results and analysis of its independent reserve report effective December 31, 2018. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2018 marks the Company’s 20th year of profitable reserves development. SUSTAINABILITY Peyto’s base production decline continues to [Read more]