Canadian Oil Stocks

Oil Stocks and Oil Companies in Canada


X-Terra Resources Pleased with New Brunswick’s Government Decision to Place All Mineral Claims Under Protection

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ROUYN-NORANDA, QC, April 3, 2020 /CNW Telbec/ – X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased with the decision that the New Brunswick government has decided to place, effective immediately, all mineral claims under protection status, to ensure continuity of mineral claims during this time of extreme uncertainty.

Michael Ferreira, President and Chief Executive Officer of X-Terra Resources states, “This is a bold step and demonstrates the outstanding leadership and support the government has taken to ensure stability for individuals and companies like X-Terra Resources, that have been working and will continue exploring in the province, once … Continue Reading

TerraVest Provides Corporate Update

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TORONTO, April 3, 2020 /CNW/ – TerraVest Industries Inc., (TSX: TVK) (“TerraVest” or the “Company”) announced today in response to the uncertain economic impact of novel coronavirus (“COVID-19”) that the Company’s Executive and Board Compensation will be adjusted.  Effective immediately, base compensation for executive management will be reduced by 20% and the Company’s Board of Directors will eliminate board fees for a period of 6 months.   

“We are responding to the ongoing COVID-19 pandemic, by reducing head count, management compensation and implementing additional rationalization measures. We are thankful to remain operational during this period by being part of the … Continue Reading

Bri-Chem Provides Filing Update

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TSX Symbol “BRY”

EDMONTON, April 3, 2020 /CNW/ – Bri-Chem Corp. (“Bri-Chem” or “Company”) (TSX: BRY), a leading North American oilfield chemical distribution and blending company, today provided an update on the timing of its regulatory filings. As a result of COVID‐19 pandemic developments, the Canadian Securities Administrators recently granted blanket relief (the “Blanket Relief”) for all market participants, providing up to a 45‐day extension for periodic filings normally required to be made on or before June 1, 2020. 

In accordance with the Blanket Relief, … Continue Reading

Athabasca Oil Corporation Takes Further Actions in Response to the Current Environment

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CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is taking further immediate actions in response to the significant decline in global oil prices to bolster balance sheet strength and corporate resiliency.

Shut-in of Hangingstone Asset

Due to the significant decline in oil prices combined with the economic uncertainty associated to the ongoing COVID crisis, Athabasca has decided to suspend the Hangingstone SAGD operation. This suspension was initiated on April 2, 2020 and will involve shutting in the well pairs, halting steam injection to the reservoir, and taking measures to preserve the … Continue Reading

Uranium Participation Corporation reports financial results for the year ended February 29, 2020

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TSX Trading symbol: U

TORONTO, April 2, 2020 /CNW/ – Uranium Participation Corporation (“UPC” or the “Corporation”) today filed its Financial Statements and Management’s Discussion & Analysis (“MD&A”) for the year ended February 29, 2020.  Both documents can be found on the Company’s website (www.uraniumparticipation.com) or on SEDAR (www.sedar.com). The highlights provided below are derived from these documents and should be read in conjunction with them.  All amounts are in Canadian dollars, unless otherwise noted. View PDF Version.

Selected financial information:

February 29,
2020

February 28,
2019

Net asset value (in thousands)

$… Continue Reading

Ovintiv Restructures Crude Oil Derivatives to Provide Additional Downside Protection; Company Now Plans to Reduce Second Quarter 2020 Investments by $500 Million

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DENVER, April 2, 2020 /CNW/ – Ovintiv Inc. (NYSE, TSX: OVV) restructured its crude oil derivatives positions to provide additional downside protection for the balance of 2020. In addition, the Company now plans to further reduce its second quarter investments by an additional $200 million, bringing total capital reductions in the second quarter to $500 million. Updated hedge and sensitivity tables are included within this release.

“We have built our Company with tremendous flexibility and optionality for volatile and uncertain times like we are currently experiencing,” said Ovintiv CEO Doug Suttles. “We are using and expect … Continue Reading

Parex Provides a Business Update in Response to COVID-19

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CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company headquartered in Calgary, Alberta and focused on Colombian oil exploration and production, announces measures to protect the Company’s financial strength in response to the significant decrease in global energy prices and the COVID-19 pandemic.  The Company’s priority remains the health and safety of its employees, partners and the communities where we operate. All currency amounts are in United States dollars, unless otherwise stated.

Business Update: Proactive Steps to Protect Shareholder Value

In these challenging times, Parex continues to manage its … Continue Reading

Keyera to Hold its Annual Meeting of Shareholders in a Virtual Only Format

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CALGARY, April 2, 2020 /CNW/ – At Keyera, health and safety are core values. In light of public health concerns regarding COVID-19, Keyera Corp. (TSX:KEY) (“Keyera”) announced today that it will hold its 2020 Annual Meeting of Shareholders in a virtual only format on Tuesday, May 12, 2020, at 2:00 p.m. Mountain Time (4:00 p.m. Eastern Time).

The meeting will be conducted via a live audio webcast and will provide all shareholders an opportunity to participate regardless of their geographic location. The meeting will be conducted online only; there will be no physical meeting venue to … Continue Reading

Energold Completes Restructuring, Operations Emerge from CCAA

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VANCOUVER, April 2, 2020 /CNW/ – Energold Drilling Acquisition LP, (“Energold”), a leading global specialty drilling company, today announced that it has acquired the assets of Energold Drilling Corp (“EDC”) and that the operations have now emerged from the Companies’ Creditors Arrangement Act (CCAA) process in Canada.

“We’re extremely excited to begin this next chapter in Energold’s history,” announced Brian N. Mittman, the new CEO of Energold. “With the CCAA filing behind us, we look forward to continuing to provide world-class drilling services and to a future of steady, profitable growth.”

EDC, formerly listed on the Toronto … Continue Reading

STEP Energy Services Ltd. Corporate Update

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CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is providing an update on actions taken in response to the COVID-19 pandemic (“COVID-19”), and current market conditions.  The following press release should be read in conjunction with the management’s discussion and analysis (“MD&A”) and audited consolidated financial statements as at and for the year ended December 31, 2019. The above documents are available on STEP’s website at www.stepenergyservices.com or on SEDAR at www.sedar.com.

STEP is responding to the rapidly deteriorating business conditions brought about by the combined impact of COVID-19 and the oil … Continue Reading

Cenovus Energy provides corporate update

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CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is implementing additional measures to enhance its financial resilience in response to the low global oil price environment that is expected to continue for an unknown period. The company’s financial framework and flexible business plan provide it with multiple options to prudently manage its balance sheet. Cenovus has decided to reduce its planned 2020 capital spending by an additional $150 million which, combined with the $450 million reduction announced March 9, 2020, is a $600 million decrease from the budget released in December. The company … Continue Reading

International Petroleum Corporation Announces Revised 2020 Expenditure Plans

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TORONTO, April 02, 2020 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) announces its plans to reduce total forecast 2020 expenditure by between USD 125 and 190 million. IPC’s revised total estimated 2020 capital and decommissioning expenditures account for approximately USD 85 million of the total forecast reduction. IPC’s total forecast 2020 operating costs are revised downwards by between USD 40 and 105 million, depending on production levels and commodity prices.

Mike Nicholson, IPC’s Chief Executive Officer, comments: “Following the extraordinary developments in the world since we released our 2020 budget and production guidance … Continue Reading