CALGARY, ALBERTA--(Marketwired - Aug. 31, 2017) - Veresen Inc. ("Veresen") (TSX:VSN) announced today that it does not intend to exercise its right to redeem all or any part of the currently outstanding Cumulative Redeemable Rate Reset Preferred Shares, Series A ("Series A Shares") (TSX: VSN.PR.A) on September 30, 2017 (the "Conversion Date"). As a result, and subject to certain conditions set out in the prospectus supplement dated February 7, 2012 relating to the issuance of the Series A [Read more]
Archives for August 2017
New Canada hearings for Kinder Morgan pipeline expansion route
Canada's National Energy Board will hold a series of public hearings beginning this year to determine the route for Kinder Morgan Inc's Trans Mountain pipeline expansion, the regulator said on Thursday. While the expansion is federally approved, the NEB could force Kinder Morgan to tweak its route or impose further conditions, the regulator's chief environment officer, Rob Steedman, said in an interview. Asked if the hearings would result in delays for Trans Mountain, [Read more]
‘It’s the best way’ – Trudeau attempts to sell carbon tax in Saskatoon
SASKATOON - Prime Minister Justin Trudeau touched on the thorny issue of carbon pricing in a fundraising speech in Saskatoon on Thursday night. Outgoing Saskatchewan Premier Brad Wall has threatened to challenge the carbon pricing plan in court, saying it would be disproportionately punitive to Saskatchewan and doesn't take into account measures already taken to reduce emissions such as the province's carbon capture facility. "We're taking action on a number of issues I know mean [Read more]
National Energy Board to hold hearings on detailed Trans Mountain pipeline route
VANCOUVER - The National Energy Board will hold hearings in British Columbia and Alberta to review proposals by Trans Mountain for its detailed pipeline corridor through the two provinces. The board will also hold a hearing early next year in Chilliwack, B.C., to review a proposal by Trans Mountain to relocate nearly two kilometres of its pipeline corridor through the city. Meanwhile, hearings will be held in Spruce Grove, Edson and Hinton in November and December on the first [Read more]
Oil rises, gasoline jumps 10 percent as U.S. refineries reel
NEW YORK (Reuters) - Gasoline futures surged 10 percent on Thursday as almost a quarter of U.S. refining capacity remained offline and traders scrambled to reroute millions of barrels of fuel, while oil prices rose nearly 3 percent. U.S. gasoline futures RBc1 have rallied roughly 26 percent from the previous week to a two-year high above $2 a gallon, buoyed by fears of a fuel shortage days ahead of the Labor Day weekend that typically brings a surge in driving. Gasoline was up 21.03 cents, or [Read more]
U.S. releases oil from strategic reserve in Harvey’s wake
WASHINGTON, Aug 31 (Reuters) - The U.S. Energy Department on Thursday released 1 million barrels of oil from the Strategic Petroleum Reserve and a White House adviser said more could flow after Tropical Storm Harvey inundated Gulf Coast refineries and drove up motor fuel prices. In the first tapping of the reserve for an emergency since Hurricane Isaac in 2012, two emergency exchanges of oil of 500,000 barrels will be delivered to the Phillips 66 refinery in Lake Charles, Louisiana, the [Read more]
Birchcliff Energy Ltd. Provides Dividend Rate Notice for Series A and B Preferred Shares
CALGARY, ALBERTA--(Marketwired - Aug. 31, 2017) - Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) announces that it has notified the registered holder of its Cumulative Redeemable Preferred Shares, Series A (the "Series A Shares") of the applicable dividend rates for its Series A Shares and its Cumulative Redeemable Preferred Shares, Series B (the "Series B Shares"). The rates were calculated today in accordance with the terms of the Series A Shares and the Series B Shares. As [Read more]
New Canada hearings for Kinder Morgan pipeline expansion route
Canada's National Energy Board (NEB) will hold a series of public hearings beginning this year to determine the route for Kinder Morgan Inc's Trans Mountain pipeline expansion, the regulator said on Thursday. While the expansion is federally approved, the NEB could force Kinder Morgan to tweak its route or impose further conditions, NEB chief environment officer Rob Steedman said in an interview. When asked if the hearings would result in delays for Trans Mountain, Steedman said: "Some [Read more]
ATB declares Alberta recession over with expected growth of 3.2% this year
CALGARY - ATB Financial has declared Alberta's worst recession in three decades over with expected economic growth of 3.2 per cent this year. The provincially-owned bank warns, however, that challenges remain, especially in the energy sector where oil prices have been stuck around the break-even price of US$50 a barrel. ATB's financial outlook says the low oil price has led to only modest increases in drilling activity and hiring, while overall the oil and gas sector has at best [Read more]
Birchcliff Energy Ltd. Announces Closing of $100 Million Sale of Worsley Charlie Lake Light Oil Pool
CALGARY, ALBERTA--(Marketwired - Aug. 31, 2017) - Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) is pleased to announce that it has closed its previously announced sale of its Worsley Charlie Lake Light Oil Pool for total consideration of approximately $100 million (before adjustments), consisting of: (i) cash consideration of $90 million; and (ii) securities of affiliates of the purchaser with a total value of $10 million. Scotia Capital Inc. acted as financial advisor to Birchcliff in [Read more]
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