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Canada’s Birchcliff raises guidance on improved prices May 13, 2021 5:09:pm Summary by: Dale Lunan Posted in: Canada’s Birchcliff raises guidance on improved prices Canadian Montney producer Birchcliff Energy said May 12 it will increase its 2021 guidance estimates for production, adjusted funds flow and free funds flow on the back of an improved outlook for commodity prices. In releasing Q1 2021 results, CEO Jeff Tonken said the period was highlighted by “excellent” drilling results on its Pouce Coupe lands in northwest Alberta and a 49% increase in barrel of oil equivalent (boe) realised prices. “As a result of our strong new well performance and our improved outlook for commodity prices, we are increasing our 2021 guidance for production, adjusted funds flow and free funds flow,” he said. “We are now targeting annual average production of 79,000 to 81,000 boe/d, up from 78,000 to 80,000 boe/d, and adjusted funds flow of $400mn (US$3 ....
Canada’s Peyto Exploration rebounds in Q1 May 13, 2021 3:45:pm Summary by: Dale Lunan Canadian Deep Basin producer Peyto Exploration & Development said May 12 it had Q1 2021 net earnings of C$38.5mn (US$31.8mn), reversing a year-ago loss of C$67.7mn which included a C$80mn impairment on the value of its reserves. Funds from operations rose 114%, to C$116.7mn, w. Posted in: ....
Sinopec swings into profit in Q1 Apr 29, 2021 6:25:am Summary The Chinese state-owned producer had booked a net loss of 19.15bn yuan in the same period of last year. by: Shardul Sharma Posted in: Sinopec swings into profit in Q1 Chinese state-run Sinopec on April 28 reported a net profit of 18.54bn yuan ($2.9bn) in the three months ending March 31 (Q1) thanks to higher oil and gas prices. It had booked a net loss of 19.15bn yuan in the same period of last year. In the three-month period, the company’s production of oil and gas reached 117.03mn barrels of oil equivalent, up by 4.2% year/year. Gas output was up 16.8% while oil extraction was down 3.2%. Sinopec s realised oil price in Q1 was up 11.7% yr/yr, while its gas price rose 10%. ....
Naftogaz suffers from bad debts, impairments in 2020 Apr 28, 2021 10:35:am Summary The state gas monopoly however received five years worth compensation for bad debts 2015-2019 from the government. by: William Powell Ukrainian state gas company Naftogaz booked a 19bn hryvnias ($680mn) loss in 2020, compared with a profit of 2.6bn hryvnias the year before, excluding discontinued operations. Its April 27 statement attributed this to lower de. Posted in: ....