Advantage Oil & Gas Ltd. (ticker: AAV) reported a net income of $95 million for 2017, or $0.51 per share. The company said that the liquids rich wells at Wembley and Progress in Alberta contributed to this positive net income. In Q4 2017, net income was $21.4 million, or $0.12 per share. Making progress at Wembley, Valhalla and Progress Advantage’s
Blackbird Energy Inc. (ticker: BBI) has released test results from its 2-20-70-6W6 Middle Montney delineation well, which is located on the company’s eastern multi-interval delineation block. The well is more than five kilometers east of Blackbird’s previous operated development drilling. The 2-20-70-6W6 Middle Montney Delineation well produced at a short-term rate of 1,163 BOEPD, including 824 Bbls/d of condensate, Blackbird
Duvernay, Montney could rival the richest U.S. deposits From Reuters/CBC The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oilsands. Now Canada is looking to its own shale fields to repair the economic damage. Canadian producers and global oil majors are increasingly exploring the
Blackbird Energy Inc. (ticker: BBI) had production results from three new development wells on its condensate-rich Pipestone/Elmworth Montney play. Blackbird also completed its planned delineation program and provided its preliminary 2018 outlook. Initial Production Results Blackbird’s total corporate December sales production averaged an estimated 1,972 BOEPD (55% liquids), with production online for 28 of a possible 31 days through the
Encana plans to invest virtually all its anticipated 2018 capital in its core assets, with around 70% directed to the Permian and Montney Encana Corp. (ticker: ECA) anticipates between 25% to 35% production growth from its core assets from the fourth quarter of 2017 to the fourth quarter of 2018, with significant oil and condensate growth in the second half
Advantage Oil & Gas Ltd. (ticker: AAV) said that the company’s board of directors has approved a 2018 capital budget of $175 million. The budget is funded through cash flow and will advance the Montney development and increase liquids production growth through 2018. Other assets at Glacier, Valhalla, Wembley, and Progress will also be developed. Advantage recently developed a four
2017 highlights Equity financing – closed an upsized and over-subscribed marketed public offering for total gross proceeds of $84.8 million on March 14, 2017 Reserves – reported Pipestone/Elmworth Montney proved plus probable (2P) reserves of $395 million Revenue – $6.2 million during the year ended July 31, 2017, with $48.8 million of working capital surplus Q4 and 2017 production: While
Debt-free Blackbird Energy chalks up production record, scores new long-term gas processing agreements, secures ownership option for processing capacity in the Montney In an operational update put out by the company Wednesday, Blackbird Energy (ticker: BBI) highlighted several announcements including a new company record for production and a new gas processing agreement in Alberta’s Montney play. For the period of
Blackbird Energy Inc. (ticker: BBI) has appointed Karen Minton as its CFO effective immediately, the company announced yesterday. In a press release Blackbird outlined Minton’s almost two decades of experience in senior financial roles in oil and gas and alternative energy. Prior to her appointment as Blackbird CFO, Minton was CFO at Lighthouse Oil & Gas. Previously she was corporate
Calgary-based Blackbird Energy Inc. (ticker: BBI) added additional acreage in its Pipestone/Elmworth location and reported updates to its development program and its expansion of the Eastern Pipestone/Elmworth gathering system. More in the Montney Blackbird increased its Pipestone/Elmworth Montney rights to 125 gross (108.9 net) sections—equivalent to 80,000 gross (69,696 net) acres. This is up from its previous 76,800 gross (66,469
Encana Corp. (ticker: ECA) is one of the first E&Ps to report it second quarter results. ECA announced a growth of 25% in its margin from the first to the second quarter of 2017. Douglas Suttles, President and CEO of Encana, indicated that this was due to the increase in the fraction of oil and condensate in its production mix.
Blackbird Energy announced that it plans to drill and complete approximately three operated wells through the end of the calendar year Calgary-based Blackbird Energy (ticker: BBI) announced the company’s results for the quarter ended April 30, 2017 – Q3 for the company. In the company’s release, Blackbird announced that it exited the quarter with $71.8 million of working capital on
