Post Tagged with: "Razor"

Source: Calpine

Kincade fire knocks Calpine’s geothermal plants partially offline

Houston Chronicle The raging Kincade fire in northern California has damaged and knocked some of Calpine’s The Geysers power plants offline. Houston-based Calpine operates the world’s largest geothermal power complex in Sonoma and Lake counties in California. The fire originated near the complex’s 45 square miles where more than a dozen geothermal plants generate electricity from naturally occurring steam underground. Calpine said it does not believe its facilities caused the fire, noting that a number of third parties operate power lines in the area. As California continues to be decimated by a series of wildfires, the Kincade fire has burned through more than 16,000 acres this week and it still isn’t contained. The embattled California utility PG&E said Thursday that one of its transmission towers had failed in the area shortly before the fire ignited. The Geysers complex was previously damaged in the Valley fire of 2015. Calpine called the[Read More…]

Source: Razor Energy

Razor Energy Partners with Canadian Government, Alberta Innovates

By Tyler Losier, Energy Reporter, Oil & Gas 360 Geothermal power project gets $7 million contribution Razor Energy Corp. (stock ticker: RZE), a Canadian oil and gas company based out of Calgary, has partnered with the Canadian government through Natural Resources Canada, as well as Alberta Innovates, to develop a geothermal electricity project. The technology behind the project works by taking earth heat produced as part of normal oil and gas operations, capturing it, and harnessing that energy to add to the company’s power revenues. This strategy allows Razor to repurpose its hydrocarbon assets for renewable energy generation, while at the same time working to reduce emissions. Razor Energy’s assets (source: Razor Energy)… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Razor Energy Bumps Shareholder Yield with Special Cash Dividend

Razor Energy Bumps Shareholder Yield with Special Cash Dividend

Razor Energy Corp. (ticker: RZE) announced a special cash dividend of $0.165 per share which will be paid on October 5, 2018. The record date for the dividend is October 2, 2018 and the ex-dividend date is October 1, 2018. The special cash dividend is a one-time distribution to Razor’s shareholders of record, the company said. With continued financial and operational strength, the company’s board deemed a special dividend, in conjunction with Razor’s share buyback plan, an appropriate next step in enhancing overall shareholder yield. The dividend is considered an “eligible dividend” for tax purposes. Razor started operations in the first quarter of 2017, through an acquisition of producing assets in the Swan Hills area. In the second quarter of 2017, Razor added to its base with the acquisition of complementary assets in the Kaybob area. Razor said it plans to concurrently grow Swan Hills and Kaybob, and execute on[Read More…]

September 5, 2018 - 8:57 am Closing Bell Story, Exploration and Production (E&P)
Razor Energy Increases Reserves by 112% in 2017

Razor Energy Increases Reserves by 112% in 2017

Razor Energy Corp. (ticker: RZE) released a new reserves report today. Total reserve values, on a proved developed producing basis discounted at 10% before tax, were $178.3 million, which represents an increase of 112% over year-end 2016. Total PDP reserve volumes were 11,910 MBOE (90% oil and liquids), which represents an increase of 55% over year-end 2016. Total proved (1P) reserves were 15,072 MBOE and total proved plus probable (2P) reserves were 20,326 MBOE, which represent increases of 49% and 62%, respectively, over year-end 2016. The company’s reserve life index is 6.8 years for PDP, 8.6 years for 1P and 11.6 years for 2P reserves, based-on December 2017 average field-estimated production of 4,782 BOEPD. Razor’s reserve replacement was 360% of PDP, 420% of 1P and 660% of 2P. Net asset value Net asset value, including estimated January 31, 2018 cash and working capital was: $9.60/share on a PDP basis discounted[Read More…]