Financial Results

  • Granite Hit By Lower Production, Wider Differentials In Q1

    A decision by Granite Oil Corp. to suspend its development drilling program in the second half of 2017 to further evaluate wells drilled on 100-acre spacing translated into a production decline of nearly 27 per cent in the first quarter of 2018.

    May 11, 2018, 11:08 AM MDT

  • MEG Moves On New Oilsands Growth With Pipeline Capacity To USGC Locked In

    MEG Energy Inc. executives say they aren’t concerned about market access issues as the company grows oilsands production by more than 20 per cent in the next two years.

    May 10, 2018, 11:04 AM MDT

  • Paramount’s Profitable Condensate Production Helps Ease The AECO Blues

    In order for AECO prices to improve to more sustainable levels, those companies still overly invested into natural gas production simply must adjust towards developing other hydrocarbons, says Paramount Resources Ltd. top brass.

    May 10, 2018, 8:54 AM MDT

  • Birchcliff Enjoys Strong Q1, Production Up 24 Per Cent

    Birchcliff Energy Ltd. had a strong first quarter in 2018, with production, operating costs and cash flow that were ahead of the company’s internal budget.

    May 10, 2018, 6 AM MDT

  • Production Restrictions, Multilateral Drilling Add To Gear Bottom Line

    Temporarily slowed heavy oil production and buildup of a record inventory of saleable oil in excess of 40,000 bbls in the first quarter paid off handsomely for Gear Energy Ltd. as it sold its inventory at substantially higher prices in the second quarter.

    May 10, 2018, 9:29 AM MDT

  • Surge Production Outperforms, Operations Pivot To Light Oil Assets

    Based on better than anticipated drilling and waterflood results in Surge Energy Inc.’s three core areas, the company’s first quarter production of 16,027 boe/d exceeded management's guidance expectations.

    May 10, 2018, 6 AM MDT

  • TransGlobe Begins Turnaround In Canada

    In Canada, a planned turnaround at the main third-party owned and operated natural gas processing plant in Harmattan will result in the majority of TransGlobe Energy Corporation’s Canadian production being shut-in during May.

    May 10, 2018, 3:45 AM MDT

  • Bonterra Output, Funds Flow Rises In Q1

    Bonterra Energy Corp. generated funds flow of $28 million compared to $25.2 million in Q1 2017.

    May 10, 2018, 7:37 AM MDT

  • Freehold Sees Most Activity In Sask.

    Including drilling associated with acquisitions, 239 (6.4 net) wells were drilled on Freehold Royalty Ltd.’s royalty lands during the first three months of 2018, up 59 per cent on a gross measure but down 26 per cent on a net measure versus the same period in 2017.

    May 10, 2018, 8:02 AM MDT

  • Tamarack Sets Production Record As Liquids Weighting Increases

    Tamarack Valley Energy Ltd. achieved record corporate production in the first quarter of 23,532 boe/d, up 32 per cent over volumes of 17,796 boe/d during the same period last year.

    May 10, 2018, 9:12 AM MDT

  • Delphi Reports Q1 Loss On Hedging, Condensate Growth To Continue

    Delphi Energy Corp. recorded a net loss of $4.5 million in the first quarter of 2018, down from the $8.2 million net earnings in the first quarter of 2017.

    May 10, 2018, 10:33 AM MDT

  • Athabasca Oil Sees Revenue Increase, Deepening Net Loss In Q1 2018

    Athabasca Oil Corporation and other Canadian producers faced unprecedented volatility in heavy oil differentials and basis spreads in early 2018, due to pipeline capacity constraints which impacted short-term profitability and financial results for those companies.

    May 10, 2018, 10:47 AM MDT

  • NuVista Owes Recent Record-Setting Wells To A Series Of Technological Steps

    NuVista Energy Ltd. was only able to achieve its recent record-setting five-kilometre well after a long progression of advancements that enabled increasingly longer horizontals while minimizing the risk of losing the hole.

    May 9, 2018, 9:08 AM MDT

  • Slowing Down Activity Levels And Spending Proves Beneficial For Peyto

    Peyto Exploration & Development Corp. says a “strategic shift” undertaken early this year to counteract persistently weak and volatile natural gas prices has proven effective.

    May 9, 2018, 10:31 AM MDT

  • Tourmaline Earnings Surge, Company Increasing Dividend

    Tourmaline Oil Corp. reported first quarter 2018 earnings of $129.6 million, which is a 30 per cent increase from first quarter 2017 earnings of $99.5 million, highlighting the underlying profitability of the EP business, despite low natural gas prices.

    May 9, 2018, 6 AM MDT

  • Kelt Increasing Capital Budget

    Oil and NGL prices have exceeded Kelt Exploration Ltd.’s previous forecasts year-to-date, however the futures market is currently indicating lower natural gas prices than previously forecasted.

    May 9, 2018, 7:44 AM MDT

  • Journey In Duvernay Land Deals

    Journey Energy Inc. entered into three land acquisition agreements in the East Duvernay shale basin.

    May 9, 2018, 8:05 AM MDT

  • TORC Picks Up Assets In Saskatchewan, Increases Capital Budget

    TORC Oil & Gas Ltd. announced an agreement to acquire light oil assets, which are complementary to its existing operations in southeast Saskatchewan.

    May 9, 2018, 3 AM MDT

  • Movement, Pricing Of Natgas In Canada ‘Increasingly Complex,' Says Pine Cliff

    The movement and pricing of natural gas in Canada has become increasingly complex, noted Pine Cliff Energy Ltd.

    May 9, 2018, 3:20 AM MDT

  • Cona Sees Net Loss In Q1; Company Drills 30.5-Net Wells In Quarter

    A weak commodity price environment overshadowed operational successes in Cona Resources Ltd.’s Q1 financial results, reported the company in the last quarterly release before shareholders decide next week whether to approve a deal that ultimately would see the company go private.

    May 8, 2018, 10:31 AM MDT

  • Perpetual Lowers Capital Budget

    Perpetual Energy Inc. has lowered its 2018 capital expenditure guidance to $21 to 25 million ($6 to 10 million for the remainder of 2018) from $23 to 27 million and reduced its Mannville heavy oil drilling in the second half of 2018 to two wells (1.3 net) from the previous range of six to 10 wells.

    May 8, 2018, 7:09 AM MDT

  • Petrus Will Focus On Cardium At Ferrier After Spring Breakup

    Petrus Resources Ltd. says it will focus on the Ferrier area after spring breakup, where it drill for Cardium.

    May 8, 2018, 6:51 AM MDT

  • Low Gas Price Has Bonavista Energy Changing Course

    In 2017, Bonavista Energy Corporation began reaping the benefits of a five-year plan to focus its efforts on two core areas in the Deep Basin and West Central Alberta.

    May 4, 2018, 9:33 AM MDT

  • ARC Remains Focused On Sustaining Montney Assets

    ARC Resources Ltd. continues to focus on sustaining its Montney businesses while investing in the accretive liquids opportunities that the company has identified at Attachie West and in the Lower Montney at Dawson and Parkland.

    May 4, 2018, 8:43 AM MDT

  • Painted Pony Lowers Capital Spending Outlook

    Painted Pony Energy Ltd. is lowering its planned capital program to between $145 and $165 million from previous 2018 expectations of $185 million.

    May 4, 2018, 6 AM MDT