Pipestone Energy Corp. announces that the management information circular of the Company relating to the annual and special meeting of the shareholders of Pipestone Energy which has been prepared by the management of the Corporation in connection with the solicitation of proxies to be voted at the Meeting to be held at 2:30 p.m. on September 14, 2020 in the McMurray Room at the Calgary Petroleum Club, 319 - 5th Avenue [...]
Pipestone Energy Corp. is pleased to report its Q2 2020 financial and operational results. Paul Wanklyn, President and CEO said, “Pipestone Energy nimbly managed its production during the second quarter in response to historic commodity price volatility. Our ability to generate positive cash flow before hedging gains during the quarter, despite record low condensate pricing, is a testament to our asset quality. With the [...]
Pipestone Energy Corp. is pleased to announce that it has entered into subscription agreements with Riverstone V EMEA Holdings Cooperatief U.A., GMT Capital Corp. and GMT Exploration Company LLC in respect of the financing. Pursuant to the terms of the subscription agreements, the Investors have agreed to acquire convertible preferred shares in the Company with an initial liquidation preference of $70 million, equivalent [...]
Pipestone Energy Corp. is pleased to announce that it has successfully redetermined its Reserve Based Loan with its syndicate of banks, maintaining its credit capacity of $225 million. RBL and Financial Liquidity Update: Pipestone Energy has closed on its RBL redetermination with its corporate banking syndicate, consisting of National Bank Financial Inc., Bank of Montreal, ATB Financial, and Canadian Western Bank. The [...]
Pipestone Energy Corp. announces that it is cancelling the annual and special meeting of shareholders scheduled for June 30, 2020. Once the situation in Alberta has improved such that an in-person meeting can be held in a manner that is safe for the participants, Pipestone Energy will reschedule and hold an annual and special meeting of shareholders. Pipestone Energy will rely on the temporary blanket relief provided by [...]
Pipestone Energy Corp. is pleased to report its Q1 2020 financial and operational results, and an update to our business plan in response to the dramatic drop in commodity prices related to the worldwide COVID-19 crisis which resulted in an unprecedented short term collapse in oil demand. This will also include an operations update with encouraging initial production results from the 6-24 pad; 2020 production management [...]
Pipestone Energy Corp. was notified by Keyera Corp. on March 16, 2020 of an unplanned outage related to the amine train at the Keyera Wapiti Plant . As of this press release, Keyera expects to have the plant issue repaired and resume operations by March 28, 2020. Recently, Pipestone Energy has produced up to 25 MMcf/d of raw natural gas and associated liquids volumes through the Tidewater Midstream and Infrastructure Ltd [...]
Pipestone Energy Corp. announces that it has filed its audited consolidated financial statements, management’s discussion and analysis, and annual information form for the year ended December 31, 2019 on the Company’s profile at SEDAR, and has posted them to the Company website. The Company would also like to announce that in connection with its annual compensation review for directors and officers, the board [...]
Pipestone Energy Corp. announces reduced guidance in response to current commodity prices, an update on capital efficiencies achieved and encouraging early production results from its 6-24 pad. A conference call is scheduled for Thursday, March 12 at 9:00 a.m. Mountain Daylight Time for interested investors, analysts, brokers and media representatives. “As a company, Pipestone Energy has responded quickly and [...]
Pipestone Energy Corp. is pleased to report its year-end 2019 independent reserves evaluation prepared by McDaniel & Associates Consultants Ltd. with an effective date of December 31, 2019 . Year-End 2019 Reserve Results: Key Highlights from the Year-End 2019 McDaniel Report include: Proved Developed Producing reserves increased by 585% from 2.7 MMboe to 18.5 MMboe and achieved a Finding & Development cost of $8.39/boe [...]
Pipestone Energy Corp. announces that the Keyera Wapiti Gas Plant has resumed operations and that Pipestone Energy has continuously flowed volumes into the plant over the last 24 hours without curtailment. Pipestone Energy has been informed that normal plant operations are expected to continue. Year-End 2019 Reserves The Company expects to provide an updated year-end 2019 reserve and resource evaluation, as performed by [...]
Pipestone Energy Corp. was notified by Keyera Corp. on January 17, 2020 of an electrical failure within the Keyera Wapiti Gas Plant. This failure has resulted in an unplanned outage. Keyera expects it to be repaired and resume operations of the Keyera Plant within approximately two weeks. Based on the expected outage duration, the Company is reaffirming its 2020 annual guidance, released on January 16, 2020. If the [...]
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