Highwood Oil Company Ltd., is pleased to announce financial and operating results for the quarter ended June 30, 2020. The Company also announces that its unaudited financial statements and associated Management's Discussion and Analysis for the quarter ended June 30, 2020, can be found at www.sedar.com and www.highwoodoil.com. Highlights Production of 870 bbl/d of oil in the second quarter of 2020, a 54% decrease from [...]
Highwood Oil Company Ltd. announces revisions to the Company's reserve-based credit facility . Credit Facility Redetermination The Company, together with its sole lender, has completed the redetermination of its Credit Facility. The Company's Credit Facility has been confirmed at $38 million, with the earliest revolving period extended to September 30, 2020 and the term period amended to May 30, 2021. Should oil pricing [...]
Highwood Oil Company Ltd. announces that the Red Earth Divestiture initially announced February 18, 2020 has been terminated. Highwood received notice on May 1, 2020 from the Alberta Energy Regulator that the Red Earth license transfer application had been rejected. The AER had previously provided their conditional approval of the license transfers on April 24, 2020. Operational Update After spending $4.1 million in Q1 [...]
Highwood Oil Company Ltd., is pleased to announce financial and operating results for the quarter ended March 31, 2020. The Company also announces that its unaudited financial statements and associated Management's Discussion and Analysis for the quarter ended March 31, 2020, can be found at www.sedar.com and www.highwoodoil.com. Highlights Achieved record production of 1,872 bbl/d of oil in the first quarter of 2020, a [...]
Highwood Oil Company Ltd. received notice today from the Alberta Energy Regulator that the Red Earth license transfer application has been rejected. The AER had provided their conditional approval of the license transfers on April 24, 2020. The Company is working through the impact of this decision by the AER on the Red Earth Sale Agreement and will provide an update when one is available. Warnings Neither the TSX Venture [...]
Highwood Oil Company Ltd., is pleased to announce financial and operating results for the three months and twelve months ended December 31, 2019 and to provide the results of its independent oil and gas reserves evaluation as of December 31, 2019, prepared by GLJ Petroleum Consultants Ltd. . Associated Management's Discussion and Analysis dated April 28, 2020 and audited financial statements as at and for the year ended [...]
Highwood Oil Company Ltd. announces revisions to the previously announced 2020 capital budget and an update to operations in 2020. 2020 Capital Budget Given the weakness and uncertainty in today's future oil price environment and the advent of the COVID-19 outbreak, Highwood has chosen to cease all non-discretionary capital activity for the balance of 2020 until realized pricing in Western Canada rebounds from these [...]
Highwood Oil Company Ltd. is pleased to announce successful drilling results from its Q4 2019 Clearwater drilling program. Additionally, the Company is also pleased to announce that it has entered into an agreement with an arm's-length private oil and gas exploration and production company to divest of the majority of the Company's Red Earth asset, comprised of cash of $8.0 million and equity consideration of 10% of the [...]
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