Oil prices held just below eight-week highs on Thursday, supported by a steeper-than-expected decline in U.S. crude inventories that boosted expectations of a shift to a more balanced market. Brent crude futures LCOc1 dipped 9 cents at $50.88 a barrel at 0950 GMT, after rising about 1.5 percent in the previous session. U.S. West Texas Intermediate futures CLc1 slipped 6 cents at $48.69 a barrel. U.S. crude stocks fell sharply last week as refineries increased output and imports declined, [Read more]
Headlines
Crescent Point Announces Strong Q2 2017 Results and Upwardly Revised 2017 Guidance
CALGARY, ALBERTA--(Marketwired - July 27, 2017) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG)(NYSE:CPG) is pleased to announce its operating and financial results for the quarter ended June 30, 2017. KEY HIGHLIGHTS Exceeded second quarter 2017 average production target by over 8,000 boe/d or five percent. Increased 2017 average production guidance to 174,500 boe/d from 172,000 boe/d based on positive operating results. Delivered strong initial 30-day [Read more]
Qatar’s LNG brownfield trumps Petronas’ greenfield hopes: Russell
The shifting dynamics of the liquefied natural gas (LNG) industry have been neatly encapsulated by two recent decisions: the scrapping of a major new development and the expansion of an existing large-scale project. Malaysia's state-owned Petronas announced this week it was cancelling its $29 billion Pacific Northwest LNG venture in Canada's western British Columbia province, citing low global prices for the super-chilled fuel. The decision not to proceed came after Qatar said on July 4 it [Read more]
AltaGas Ltd. Reports Strong Second Quarter 2017 Results
CALGARY, ALBERTA--(Marketwired - July 27, 2017) - Highlights (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Achieved record second quarter normalized EBITDA1 of $166 million, an increase of approximately 8 percent over the second quarter of 2016; Increased normalized funds from operations1 by approximately 8 percent to $123 million in the second quarter; Significantly advanced over $700 [Read more]
Cenovus delivers strong second quarter performance
CALGARY, Alberta, July 27, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) had a strong second quarter that reflected 45 days of results from the assets recently acquired from ConocoPhillips. The acquisition gives Cenovus 100% ownership of its oil sands operations and a new production platform in the liquids-rich Deep Basin. Integration of the Deep Basin assets is on track. To further optimize its portfolio and deleverage its balance sheet, the company is pursuing the sale of [Read more]
Athabasca Oil Corporation Announces 2017 Second Quarter Results
CALGARY, ALBERTA--(Marketwired - July 26, 2017) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or the "Company") is pleased to provide its 2017 second quarter results and an operations update. The quarter marks continued operational momentum, positive cash flow driven by strong liquids-rich Montney growth at Placid and the full integration of Athabasca's new thermal oil asset at Leismer. Second Quarter and Recent Highlights Q2 2017 Operating and Financial Results Production of [Read more]
Suncor Energy reports second quarter 2017 results
CALGARY, ALBERTA--(Marketwired - July 26, 2017) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, except for Libya, which is on [Read more]
RMP Energy Announces New Management Team Transition
CALGARY, Alberta, July 26, 2017 (GLOBE NEWSWIRE) -- RMP Energy Inc. (the “Company” or “RMP”) (TSX:RMP) today announces a series of appointments that will result in the formation of a new executive management team for the Company. The new team will include Rob Colcleugh as Chief Executive Officer, Tim Krysak as President and Chief Operating Officer, Jeremy Smith as Vice President Engineering, Gregg Nixon as Vice President Completions and Production, Zoran Jankovic as Vice President Exploration [Read more]
It Gives Me No Great Pleasure to Say “I Told You So”
My friends at the BOE Report dropped me a line to say that “you were right and do you have any comment?” Puzzled, I had to think for a moment. “You were right, back in September, when you wrote Pacific Northwest LNG: Canada is a day late and dollar short in this business." Oh, right, I remember now. I have to be honest, I had nearly forgotten about the article I dashed off in a fit of pique when I saw and then wrote: “Smiling politicians in Ottawa, Edmonton and Victoria will be slapping [Read more]
Wake up Canada! Get behind energy megaprojects or get ready for the consequences
Not many commodities are hot anymore; investors are quite comfortable shunning the segment. But perhaps you may want to know about a commodity that in contrast is particularly overheated these days. Natural gas firm service transportation out of Alberta, for the upcoming winter season. Firm service prices are being bid up to unusual levels, even in the face of a relatively low commodity price forecast. Producers appear somewhat panicked about their ability to access markets for their [Read more]