CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) delivered strong cash from operating activities and adjusted funds flow in 2017. Through its continued focus on capital discipline and reliable operational performance, the company generated almost $1.3 billion in free funds flow last year. Cenovus also completed the divestitures of its legacy conventional oil and natural gas assets within its expected timeframe. Divestiture proceeds and cash on hand [Read more]
Headlines
The Alberta Energy Regulator responds to changes in the oil and gas industry
Part of the AER’s new focus is to move to risk informed decisions and informed conversations – rather than prescribed interactions. This involves exploring different ways to approach services, moving away from prescriptions towards delivering outcomes using a collaborative approach and leveraging technological innovations. The broad journey the AER is on is to focus on the objectives that a company may want to achieve or need to achieve and make risk informed decisions that allow [Read more]
Peyto Announces 2017 Reserves With Producing Reserves Added at Lowest Cost Since 2003
CALGARY, Alberta, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX:PEY) is pleased to present the results and analysis of its independent reserve report effective December 31, 2017. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2017 marks the Company’s 19th year of profitable reserves development. Reserves per share grew in all categories and producing [Read more]
Notley puts task force to work, vows to keep pressure on B.C. in pipeline fight
EDMONTON - Alberta Premier Rachel Notley put her 19-member task force to work Wednesday, tasked with continuing to take the fight to B.C. over the Trans Mountain oil pipeline. "We're going to keep the pressure on," Notley told reporters prior to convening the group's first meeting, in the cabinet room at the legislature. "These folks on our task force have deep connections across the country — industry, investors, academics, the legal community (and) all levels of government. [Read more]
Tourmaline Adds 558 Mmboe of 2P Reserves, Grows Liquid Reserves by 73% and 2P Reserve Value by $2.4 Billion¹
CALGARY, Feb. 14, 2018 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to report very strong total reserve growth, liquids reserve growth and a significant reserve value increase in the current declining natural gas price environment. The Company executed on the 2017 plan to concentrate almost entirely on internal EP growth and has produced the best reserve metrics in Company history. In addition, Q4 2017 cash flow(2) of $348.2 million exceeded Q4 capital [Read more]
Marksmen Announces Update on Leaman 1-H Horizontal Well
CALGARY, Alberta, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSXV:MAH) (OTCQB:MKSEF) (“Marksmen” or the “Company”) and Its wholly owned subsidiary, Marksmen Energy USA, Inc. are pleased to announce the following update on its Leaman 1-H Clinton Sandstone Horizontal well in Hocking County, Ohio. The well is being drilled in conjunction with our working interest partners and is operated by Hocking Hill Energy (“HHE”). Drilling of this well has been slower than expected due to very [Read more]
U.S. crude oil, gasoline inventories rise: EIA
(Reuters) - U.S. crude stocks rose less then expected last week, while gasoline stocks rose by more than analysts had forecast as refineries cut output, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 1.8 million barrels in the week to Feb. 9, short of analysts’ expectations for an increase of 2.8 million barrels. “With a big drop in refining activity as we descend deeper into maintenance season, we have seen a third consecutive build to crude [Read more]
Surge Energy Inc. Announces 2017 Year End Reserves; Over 10 Percent Increase in Net Asset Value to $6.06 Per Share; 9 Percent Increase in Reserves Per Share; Reinstitution of Share Buy Back
CALGARY, Feb. 13, 2018 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") announced the results of its independent reserves evaluation (the "Sproule Report") effective December 31, 2017, as prepared by Sproule Associates Limited ("Sproule"). Surge is pleased to announce an increase in the Company's year-end 2017 net asset value ("NAV") of more than 10 percent per share over 2016, to $6.06 per share. Sproule's 2017 year end price forecast has 2018 WTI crude oil prices below current average [Read more]
Oil and gas leaders collaborate using blockchain technology to help cut costs
After oil and gas prices took sharp declines in the latter part of 2014, the following years forced production companies to rethink how their business operated. With tight capital budgets, razor thin profit margins (for the lucky few), and no sign of improving oil and gas economics, organizational efficiency became imperative. How were oil and gas companies to streamline their operations and somehow generate a return for their shareholders? At some point, even the best hedges from $100 oil [Read more]
Column: With a tanking share price and layoffs, this energy executive still made $20 million
How much money did you make last year? According to 2017 filings, Ryan Lance the CEO of ConocoPhillips, made nearly $20,000,000 USD. In 2015, the year ConocoPhillips laid off hundreds of employees in Calgary, Ryan Lance made approximately $21,000,000 USD. Hardly seems fair does it? Odds are that you probably know someone who lost their job at ConocoPhillips and is still recovering from the financial and psychological implications. For example, it is not uncommon to hear stories of [Read more]