CALGARY, Feb. 22, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX/NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce that Jay W. Thornton has been appointed as Chairman of the Obsidian Energy Board of Directors (the "Board"), effectively immediately. Mr. George Brookman, who has been the Acting Chair since August 8, 2017, will remain as a director on the Board. "On behalf of the Board, I would like to thank Mr. George Brookman for his leadership as Acting Chair [Read more]
Headlines
Pembina Pipeline Corporation Reports Record Annual Results in 2017
Transformational year with strategic acquisition of Veresen and $4.8 billion of projects placed into service All financial figures are in Canadian dollars unless noted otherwise. CALGARY, Feb. 22, 2018 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the fourth quarter and full year 2017. Operational and Financial Overview ($ millions, except where noted) 3 Months [Read more]
Calgary-based STEP Energy Services buying American fracking firm for $350M
Calgary-based STEP Energy Services Ltd. says it will enter the U.S. oil and gas well-fracking market by buying Tucker Energy Services Holdings, Inc. for about $350 million in cash before closing adjustments. It says the privately owned company operates primarily in Oklahoma, where it has three crews offering pressure pumping services to hydraulically fracture wells and is expecting to add a fourth in the second quarter of this year. STEP plans to pay for the purchase with $30 [Read more]
BlackPearl Announces Fourth Quarter and Full Year 2017 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Feb. 22, 2018) - BlackPearl Resources Inc. ("we", "our", "us", "BlackPearl" or the "Company") (TSX:PXX) (OMX:PXXS) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2017. Highlights and accomplishments included: At Onion Lake, we are nearing completion of the phase 2 thermal expansion and we have initiated steam injection to the first pad of wells. We expect to commence steam injection to the [Read more]
U.S. crude stocks fall unexpectedly as net imports hit record low: EIA
(Reuters) - U.S. crude oil stockpiles fell unexpectedly last week as net imports dropped to a record low due to a surge in exports, while inventories at the key storage hub in Cushing, Oklahoma continued to slide, the Energy Information Administration said on Thursday. Crude inventories fell 1.6 million barrels in the week to Feb. 16, compared with analysts’ expectations for an increase of 1.8 million barrels. Net crude imports fell last week by 1.6 million barrels per day to 4.98 million [Read more]
Former CNOOC Canada CEO banned in Alberta after SEC insider trading settlement
CALGARY - The Alberta Securities Commission is banning the former CEO of the Canadian arm of Chinese oil giant CNOOC Ltd. from acting as a director or officer in the province after he settled insider trading claims against him in the United States. The regulator says it is reciprocating an order made by the U.S. Securities and Exchange Commission last fall after Fengjiu Zhang — who had moved back to China by then — agreed to a three-year ban there to settle charges that he broke U.S. [Read more]
Raging River Exploration Inc. Announces Preliminary 2017 Results, 2017 Year End Reserves and Operations Update
CALGARY, Alberta, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to present the summary results of the independent reserves reports as prepared by Sproule Associates Ltd. (“Sproule”) and GLJ Petroleum Consultants (“GLJ”) as of December 31, 2017 (collectively the “Engineering Report”). During 2017, the Company invested $372.1 million (unaudited) consisting of $297.4 million of Viking development capital, $31.9 million of [Read more]
Gear Energy Ltd. Announces Year-End Reserves
CALGARY, Feb. 21, 2018 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to present the following results and analysis of its 2017 year-end independent reserve report prepared by GLJ Petroleum Consultants Ltd. ("GLJ"). In 2017 Gear invested $49.5 million consisting of $47.8 million of development capital and $1.7 million in acquisition and divestiture ("A&D") activity. The combined investment provided Gear with 26 per cent production growth and 52 per cent cash flow [Read more]
Gear Energy Ltd. Announces Fourth Quarter 2017 Operating Results
CALGARY, Feb. 21, 2018 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following fourth quarter operating update to shareholders. Gear's Interim Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended December 31, 2017 are available for review on Gear's website at www.gearenergy.com and on www.sedar.com. Financial Summary Three months ended Twelve months ended (Cdn$ [Read more]
Retiring Pengrowth CEO plans role as advocate for misunderstood oilpatch
CALGARY - The retiring CEO of Pengrowth Energy Corp. says Canadian oil and gas leaders have been too "shy" to speak out in support of their industry and he plans to help fill that vacuum as he leaves the job he's held since 2009. The disconnect between average Canadians and the industry in terms of pipeline and drilling technology safety, and their inability to see how importing oil hurts domestic producers, can in part be blamed on the inaction of industry leaders, said Derek Evans. He [Read more]