Connacher Oil and Gas Ltd. is pleased to announce the following: While 2020 was an extremely challenging and unprecedented year for the energy sector, Connacher advanced several key initiatives in the second half of the year to position the Company for the future. Earlier in the year, following the precipitous drop in crude oil prices caused by the [...]
Connacher Oil and Gas Ltd. is pleased to announce the effectiveness of the Company's Amended and Restated Plan of Compromise and Arrangement dated July 16, 2019, which, as previously announced, was sanctioned by the Court of Queen's Bench of Alberta on July 16, 2019 in the Company's proceedings under the Companies' Creditors Arrangement Act. Upon [...]
Connacher Oil and Gas Ltd. announces its financial and operating results for the three and six months ended June 30, 2019. Q2 2019 Highlights Financial Q2 2019 and YTD 2019 revenue, net of royalties, increased 12% to $60.8 million and 30% to $114.3 million, respectively, primarily due to higher crude oil benchmark pricing, partially offset by [...]
Connacher Oil and Gas Ltd. is pleased to announce the approval of the Company's Plan of Compromise and Arrangement, as amended and restated in accordance with its terms, by the required majorities of affected creditors and the Court of Queen's Bench of Alberta in the Company's proceedings under the Companies' Creditors Arrangement Act . As [...]
Connacher Oil and Gas Ltd. announces its financial and operating results for the quarter-ended March 31, 2019. Q1 2019 Highlights Financial Q1 2019 revenue, net of royalties, increased to $53.6 million, primarily due to higher crude oil benchmark pricing, partially offset by lower sales volumes In Q1 2019, the Company recorded additional income and [...]
Connacher Oil and Gas Ltd. announced today that its plan of compromise and arrangement dated May 6, 2019 has been accepted for filing by the Court of Queen's Bench of Alberta in connection with the Company's restructuring proceedings under the Companies' Creditors Arrangement Act. In connection with the filing of the Plan, the Court has granted: an [...]
Connacher Oil and Gas Ltd. is pleased to announce that it has entered into an Amended and Restated Support Agreement with certain first lien lenders holding in excess of 75% of the principal amount of debt outstanding under the First Lien Credit Agreement dated as of May 23, 2014 and Wilmington Trust, National Association and that Connacher will be [...]
Connacher Oil and Gas Ltd. announces its year-end reserves as of December 31, 2018, as evaluated by GLJ Petroleum Consultants Ltd., independent qualified reserves evaluators. Proved producing reserves decreased by approximately 1.8 million barrels to 11.5 million barrels. The net present value of future net revenue before income taxes of the proved [...]
Connacher Oil and Gas Ltd. announces its financial and operating results for the quarter- and year-ended December 31, 2018 . Q4 2018 and Year-End 2018 Highlights Financial Q4 2018 revenue, net of royalties, decreased to $19.6 million , primarily due to lower crude oil benchmark pricing, lower sales volumes, and a reclassification related to a [...]
Connacher Oil and Gas Ltd. today announced that Gordon Trainor has been appointed Chief Operating Officer of Connacher. Mr. Trainor is a geologist with over 22 years of experience. Mr. Trainor has been Director, Engineering and Geosciences since December 2015 and prior to that was Connacher's Chief Geologist from 2012 to 2015. He has been [...]
Connacher Oil and Gas Ltd. announces that it has obtained an order from the Alberta Court of Queen's Bench extending the period of the Court-ordered stay of proceedings against Connacher under the Companies' Creditors Arrangement Act until June 28, 2019. The Company has been operating under the protection of the CCAA since May 17, 2016. All [...]
Connacher Oil and Gas Ltd. announces that Daryl Gilbert has tendered his resignation as a director of the Company effective today. The Company would like to thank Mr. Gilbert for his contributions. About Connacher Connacher Oil and Gas Ltd. is a Calgary-based in situ oil sands developer, producer, and marketer of bitumen. The Company's principal [...]
