CALGARY, ALBERTA--(Marketwired - July 27, 2017) - Bonavista Energy Corporation (TSX:BNP) ("Bonavista") is pleased to report to shareholders its financial and operating results for the six months ended June 30, 2017. Results for the second quarter of 2017 are highlighted by a 29% increase in funds from operations and a 6% decrease in cash costs when compared to the second quarter of 2016. The unaudited financial statements and notes, as well as management's discussion and analysis, are available [Read more]
Archives for July 2017
Prevention, disaster management key lessons from Fort McMurray wildfire: report
FORT MCMURRAY, Alta. - A report on lessons learned from the Fort McMurray wildfire recommends improved prevention measures along with better disaster management and evacuation planning. The Regional Municipality of Wood Buffalo commissioned the KPMG review following the fire in May 2016 that forced about 88,000 people to flee the area in northeastern Alberta. Mayor Melissa Blake said other communities in Canada facing the threat of wildfires can learn from Fort McMurray's [Read more]
TransCanada seeking more Keystone XL shippers as oilsands growth slows
CALGARY - TransCanada Corp. said Thursday that it's looking for more oil shipment commitments for its Keystone system, as expected oilsands growth slows and major international players continue to retreat from the region. Company spokeswoman Jacquelynn Benson said the company is looking for 225,000 barrels a day of commitments on the controversial Keystone XL project, which would have capacity to ship about 830,000 barrels a day from Hardisty, Alta., to markets in Cushing, Okla., and the [Read more]
Suncor, Total SA argue over cost of Fort Hills project
Canada's Suncor Energy Inc is in the early stages of a commercial dispute with France's Total SA over funding for the Fort Hills oil sands project in northern Alberta, the two companies said on Thursday. The 194,000-barrel-per-day mining project is a joint venture between Suncor, Total and Teck Resources Ltd . Earlier this year Suncor upped its Fort Hills capital costs estimate to between C$16.5 billion and C$17 billion, from C$15.1 billion, and on Wednesday the Canadian [Read more]
Total, Suncor Energy in funding dispute over Fort Hills oilsands project
CALGARY - French oil giant Total and Suncor Energy are in a dispute over funding the Fort Hills oilsands project, the $17-billion development set to begin production later this year. The standoff is not expected to affect the overall cost or schedule of Fort Hills. Still, Steve Williams, CEO of Fort Hills operator Suncor Energy (TSX:SU), told financial analysts on a conference call Thursday that he's "disappointed." "Our partner, Total, has chosen not to approve or provide [Read more]
TransCanada seeks additional commitments on Keystone pipeline system
TransCanada Corp launched an open season on Thursday for additional commitments for the transportation of crude oil on the Keystone pipeline system, according to a company statement. The open season will close on Sept. 28. The Keystone system, including the Keystone and Keystone XL pipelines, moves oil from Hardisty, Alberta, to markets in Cushing, Oklahoma, then onto the U.S. Gulf Coast. While the original Keystone is already operating, the controversial Keystone XL was delayed for years [Read more]
TransCanada Launches Binding Open Season for Keystone Pipeline System
CALGARY, ALBERTA--(Marketwired - July 27, 2017) - Media Advisory - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today launched an Open Season to solicit additional binding commitments from interested parties for transportation of crude oil on the Keystone Pipeline and for the Keystone XL Pipeline project from Hardisty, Alberta to markets in Cushing, Oklahoma and the U.S. Gulf Coast. Interested parties may submit binding bids for transportation capacity during the Open Season [Read more]
TransCanada seeks additional commitments on Keystone pipeline system
TransCanada Corp launched an open season on Thursday for additional commitments for the transportation of crude oil on the Keystone pipeline system, according to a company statement. The open season will close on Sept. 28. The Keystone system moves oil from Hardisty, Alberta, to markets in Cushing, Oklahoma, then onto the U.S. Gulf Coast. (Reporting by Catherine Ngai) [Read more]
Oil prices hover near eight-week highs on lower U.S. inventories
Oil prices held just below eight-week highs on Thursday, supported by a steeper-than-expected decline in U.S. crude inventories that boosted expectations of a shift to a more balanced market. Brent crude futures LCOc1 dipped 9 cents at $50.88 a barrel at 0950 GMT, after rising about 1.5 percent in the previous session. U.S. West Texas Intermediate futures CLc1 slipped 6 cents at $48.69 a barrel. U.S. crude stocks fell sharply last week as refineries increased output and imports declined, [Read more]
Cenovus Q2 profit boosted by ConocoPhillips deal, revenue up from year ago
CALGARY - Cenovus Energy Inc. (TSX:CVE) reported a profit in its second quarter, boosted by its purchase of most of the Canadian assets of ConocoPhillips. The company reported a quarterly profit of $2.64 billion or $2.37 per share, including a $1.8-billion non-cash revaluation gain on its interest in an oilsands joint venture with ConocoPhillips that it acquired full ownership in. The profit compared with a loss of $267 million or 32 cents per share in the same quarter last year. [Read more]
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