Financial Results

  • CNRL Reports Decreased Q1 Output On Curtailments, Profits Soar

    Canadian Natural Resources Limited achieved quarterly production volumes of 1,035,212 boe/d in the first quarter, a four per cent decrease from fourth quarter 2018 levels reflecting Alberta's mandatory production curtailments.

    May 9, 2019, 11:58 AM MDT

  • Tourmaline Lowers Capital Spending Plan

    With the early start-up of the Gundy plant providing a modest production cushion and continued reduction of per-well capital costs, Tourmaline Oil Corp. has decided to reduce the full-year 2019 capital program by a further $25 million to $1.2 billion.

    May 9, 2019, 12 AM MDT

  • Crescent Point Improves Balance Sheet In Q1

    Crescent Point Energy Corp. continues to focus on balance sheet improvement through disciplined capital allocation, cost reductions and increased cash flow generation, executives with the company said this morning.

    May 9, 2019, 11:23 AM MDT

  • Paramount Focuses On Liquids Rich Montney, Abandonments And Emissions Reductions

    With the vast majority of the work to integrate the assets of two acquired companies completed, Paramount Resources Ltd. will focus on maintaining capital discipline and prioritizing lower-risk, liquids-rich Montney resource plays that generate immediate cash flows, the company told its annual general meeting Wednesday.

    May 9, 2019, 9:48 AM MDT

  • InPlay Program Focuses On Cardium

    In the first quarter of 2019 InPlay Oil Corp. drilled 2.7 net extended reach horizontal (ERH) wells with the majority of the remaining 2019 capital planned to be spent in the second half of the year on approximately six net additional Cardium ERH wells. 

    May 9, 2019, 12 AM MDT

  • Cardinal Recovers From Low Oil Prices, Reactivates Shut-In Wells in Q1 2019

    Cardinal Energy Ltd. maintained volume targets despite the province’s mandatory curtailments in the first quarter of 2019. ​​​​​​​

    May 9, 2019, 7:48 AM MDT

  • Granite Resumes Activity In Q2, Output Down in Q1

    Granite Oil Corp. did not drill any wells in the first quarter but has resumed activity in the second quarter of 2019.

    May 9, 2019, 10:13 AM MDT

  • Peyto CEO Hopeful UCP Government Will Lessen Regulatory Burden; Cardium Program Continues To Grow

    Peyto Exploration & Development Corp.’s president and CEO is optimistic new Alberta Premier Jason Kenney and his United Conservative Party (UCP) government will lend a helping hand to the province’s struggling oil and gas sector.  

    May 8, 2019, 10:56 AM MDT

  • Growth Within Cash Flow Still Important, Says NuVista

    As Montney natural gas producer NuVista Energy Ltd. continues to grow its business, including work on its 2018 Pipestone acquisition, its chief executive is quick to defend the company’s strategy of measured funded growth.

    May 8, 2019, 12 AM MDT

  • Pengrowth Boosts Adjusted Funds Flow In Q1

    Pengrowth Energy Corporation reported higher adjusted funds flow in the first quarter due to a leaner cost structure and a 20 per cent increase in Lindbergh SAGD bitumen production during the three-month period compared to the prior year.

    May 8, 2019, 11:20 AM MDT

  • Price Stability Helps Journey Funds Flow

    A significant element of stability returned to oil prices, which greatly assisted Journey Energy Inc. in achieving funds flow of $7.7 million in the first quarter of 2019, up 50 per cent from last year. 

    May 8, 2019, 12 AM MDT

  • Kelt Output Flat For Q1

    Kelt Exploration Ltd.’s average production for the three months ended March 31, 2019 was 27,057 boe/d, relatively unchanged compared to average production of 26,978 during the first quarter of 2018. ​​​​​​​

    May 8, 2019, 6:30 AM MDT

  • Perpetual Second Half Capital Program To Be Much More Active

    Perpetual Energy Inc.'s 2019 budgeted capital spending program is largely planned for the second half of 2019 with approximately 50 per cent of expenditures targeting heavy oil drilling in Eastern Alberta, and 50 per cent targeting continued development of liquids-rich natural gas at the company's East Edson property.

    May 8, 2019, 7:02 AM MDT

  • Delphi Drills First Four-Well Montney Pad

    Delphi Energy Corp. successfully concluded drilling operations on its first four-well Montney pad by drilling the last well (0.65 net) on the pad, and completed fracturing operations, with the wells now being brought on production.

    May 8, 2019, 8:32 AM MDT

  • Curtailment Affects MEG’s Output As Company Reports Q1 Net Loss

    MEG Energy Corp.’s bitumen production averaged 87,113 bbls/d in the first quarter of 2019, seven per cent lower than the same period in 2018 due to the Alberta government's mandated production curtailment program which came into effect Jan. 1, 2019.

    May 7, 2019, 9:16 AM MDT

  • Petrus Lays Out Capital Program Of $7-$8MM For Q2

    Petrus Resources Ltd.’s board of directors approved a second quarter 2019 capital budget of $7 to $8 million, based on a current forecast for commodity futures pricing, anticipated service costs and current activity levels. ​​​​​​​

    May 7, 2019, 7:04 AM MDT

  • Surge Outlines Hedging Strategy, Reports Record Production

    Surge Energy Inc. has been active with its ongoing crude oil and WCS differential hedging strategy designed to protect the capital program and Surge's annual dividend.

    May 7, 2019, 8:04 AM MDT

  • Razor Reports Lower Funds Flow, Loss In Q1

    Razor Energy Corp. reported a net loss in the first quarter of 2019, lower funds flow and flat production year-over-year.

    May 6, 2019, 7:36 AM MDT

  • Regulatory Challenges, Pipeline Egress, Weigh On Natural Gas Prices: Bonavista CEO

    While Bonavista Energy Corporation is a strong believer in the long-term future of natural gas, the next couple of years could be rough, the company’s chief executive warned Thursday.

    May 3, 2019, 12 AM MDT

  • 7G Selling Into Premium Markets

    Seven Generations Energy Ltd. now has the capacity to sell approximately 90 per cent of its natural gas into premium markets in the U.S. Midwest, Eastern Canada and the U.S. Gulf Coast.

    May 3, 2019, 6:55 AM MDT

  • Baytex To Layer In More Crude-By-Rail; Q1 Results Benefit From Raging River Deal

    Baytex Energy Corp. says crude-by-rail will remain an integral part of the company’s egress and marketing strategy for its heavy oil production and the company plans on layering in more contracts as the year unfolds.

    May 3, 2019, 10:15 AM MDT

  • Suncor Shifts To More SCO In Q1 To Boost Results

    Suncor Energy Inc. reported record synthetic crude oil production in the first quarter as the company opted to reach for higher value of fewer bbls during Alberta’s ongoing curtailment order.

    May 2, 2019, 9:35 AM MDT

  • Market Diversification Helps Painted Pony In Q1

    Market diversification lifted Painted Pony Energy Ltd.’s Q1 results, in the face of ongoing natural gas price weakness in Western Canada.

    May 2, 2019, 12 AM MDT

  • Dividend Increase For Whitecap; ‘Defensive’ Capital Program In Q1

    Whitecap Resources Inc. announced a 5.6 per cent increase to its monthly dividend.

    May 1, 2019, 6:33 AM MDT

  • Newfield Acquisition Synergies Greater Than Forecast, Says Encana

    Following the successful close of the Newfield Exploration Company acquisition, Encana Corporation says it has exceeded annualized general and administrative (G&A) synergies by $25 million and has increased its estimate for the year to $150 million.

    April 30, 2019, 9:07 AM MDT