CALGARY, Feb. 28, 2018 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce financial and operating results for the three month periods and years ended December 31, 2017 and 2016 and to provide 2017 year-end reserves information as evaluated by Sproule Associates Limited ("Sproule"). The associated Management's Discussion and Analysis ("MD&A") dated February 28, 2018 and audited financial statements as at and for the year ended December 31, 2017 can [Read more]
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Tourmaline Announces the Closing of Minor Asset Sales and an Increase to the Peace River High Oil Production Growth Program
CALGARY, Feb. 28, 2018 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to provide details of minor asset sales and a Peace River High update. ASSET SALES Tourmaline is pleased to announce that it has completed the sale of a series of primarily undeveloped assets across all three core-operated areas during the first quarter of 2018. Total proceeds of approximately $72.0 million were received with no impact on current production. Total disposed [Read more]
Cardinal Energy Ltd. Announces the Sale of Royalty Interests and a Q1 Operational Update
CALGARY, Alberta, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) of Calgary, Alberta is pleased to provide a corporate and operations update. Disposition of Royalty Interests Cardinal has signed a Purchase and Sale Agreement with a third party to sell various fee title lands in the Weyburn area of Saskatchewan and a new gross overriding royalty ("GOR") on the Mitsue Gilwood Unit for net proceeds of $24 million plus additional working interests [Read more]
Marksmen Announces Proposed Private Placement
CALGARY, Alberta, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSXV:MAH) (OTCQB:MKSEF) announces that it plans to complete a non-brokered private placement of up to 2,857,143 units (the “Units”) of Marksmen at a price of $0.21 per Unit for aggregate gross proceeds of up to a maximum of $600,000 (the “Offering”). There is no minimum Offering. The Units will be comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase [Read more]
Whitecap Resources Inc. Announces Fourth Quarter, Year End 2017 Results, 2017 Reserves Evaluation and the Appointment of Ken Stickland as Board Chairman
CALGARY, Feb. 28, 2018 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to report its operating and audited financial results for the year ended December 31, 2017. Selected financial and operating information is outlined below and should be read with Whitecap's audited annual consolidated financial statements and related Management's Discussion and Analysis ("MD&A") and Annual Information Form ("AIF") which are available at www.sedar.com and on our [Read more]
Alberta spending more, but saving more: Highlights from the fiscal update
EDMONTON - Alberta Finance Minister Joe Ceci released the third-quarter fiscal update Wednesday showing the province on track for a $9.1-billion deficit when the budget year ends March 31 — $1.4 billion lower than expected. Here are some other highlights from the update: — The province is expected to take in an extra $1.9 billion in revenue this year for a total of $46.9 billion. — Spending is going up to $55.9 billion, about $1 billion more than projected in last spring's [Read more]
Statistics Canada says oil and gas spending set to fall for 4th year in a row
CALGARY - Canada's competitive disadvantage with the United States is being reflected in lower spending plans by oil and gas producers, and Tuesday's budget does nothing to change that trend, oilpatch observers say. In a report released Wednesday, Statistics Canada said capital spending to extract oil and gas will fall for a fourth straight year in Canada in 2018. Spending is expected to be about $33.2 billion, down 12 per cent from 2017, with the biggest declines in the oilsands [Read more]
U.S. crude oil production hit all-time record in November: EIA
NEW YORK (Reuters) - U.S. crude oil production shattered a 47-year output record in November, and then retreated slightly in December, the Energy Information Administration said on Wednesday, as oil production from shale continued to upend global supply patterns. Oil output rose to 10.057 million barrels per day (bpd) in November, according to revised figures from the EIA. December production fell 108,000 bpd to 9.949 million bpd, the EIA said. November’s output was the highest on record, [Read more]
Chevron board member’s tweet questions oil industry’s future
HOUSTON (Reuters) - A member of Chevron Corp’s board of directors sent a tweet on Wednesday that questions the future of the oil industry given the rise of renewable energy technologies. “If #oil energy consumption is declining and #renewableenergy consumption is on the #rise, what does that mean for the future of the oil industry?” Dambisa Moyo, an economist and author who joined the oil company’s board in 2016, wrote on Twitter. The tweet was accompanied by two graphics produced by the [Read more]
Alberta’s top court upholds injunction against drug testing of Suncor workers
EDMONTON - The Alberta Court of Appeal has upheld an injunction that stops random drug and alcohol testing at Suncor Energy sites in the northeastern part of province. In a two-to-one decision, the court dismissed the appeal by Calgary-based Suncor, which has been arguing for years that random tests are needed to bolster safety at its projects near Fort McMurray. A Court of Queen's Bench judge granted the injunction last December, pending an arbitration hearing, after the union [Read more]