CALGARY, Jan. 31, 2019 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that it has approved an additional expansion of its Peace Pipeline system ("Phase VIII"), which will accommodate incremental customer demand in the Montney area by debottlenecking constraints, accessing downstream capacity, and further enhancing product segregation on the system. Phase VIII has an estimated capital cost of approximately $500 million and is supported by [Read more]
Archives for January 2019
Toronto stock market gains 8.5 per cent in January on surging crude oil prices
TORONTO - Canada's main stock index rebounded from December's selloff by gaining 8.5 per cent in January, fuelled by a surge in crude oil prices. North American markets as a whole performed well in the month, led by the Nasdaq composite, which ended 9.7 per cent higher. The gains were pretty impressive especially since the month started with investors unsure if there would be a temporary or so-called dead cat bounce or a sustainable rally, says Colin Cieszynski, chief market [Read more]
Engagement of Independent Engineering Team for Third Party Review of El Rollo Growing System
January 31, 2019 / TheNewswire / Calgary, Alberta - Cerus Energy Group Ltd. TSX-V: CEA ("Cerus" or "the Company") is proud to announce that Aggro Manufacturing Ltd. (a wholly owned subsidiary of Cerus) has entered into a testing and evaluation agreement with a US based engineering firm for the independent testing and appraisal of the El Rollo growing machine. The aim of the testing is to independently evaluate the equipment's performance and operating capability in a commercial operation. [Read more]
Prairie Provident Announces Record Year-End 2018 Reserves and Full-Year Production Volumes
CALGARY, Alberta, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2018 year-end reserves evaluation conducted by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2018 (the “Sproule Report”) and provide highlights from our year-end 2018 operations. 2018 RESERVES HIGHLIGHTS Increased proved developed producing (“PDP”), total proved (“1P”) and [Read more]
Amid cries of ‘traitor,’ Canada’s Trudeau set for ugly election
Canadian Prime Minister Justin Trudeau, who swept to power on a wave of optimism in 2015, is set for an ugly reelection campaign this October, judging by exchanges with voters in public town halls this month where he was grilled on topics ranging from immigration to housing affordability. Opinion polls show his center-left Liberals are barely ahead of their rivals, and party insiders privately admit they might lose their majority in the House of Commons, which would crimp the government's [Read more]
Bankrupt energy companies can’t abandon old wells, top court rules
OTTAWA — The Supreme Court of Canada says the trustee for a bankrupt Alberta energy company cannot simply walk away from unprofitable wells on agricultural land without having to clean up. The high court’s 5-2 ruling overturns an Alberta Court of Appeal ruling that upheld a 2016 decision in the Alberta Court of Queen’s Bench that effectively allowed a bankrupt energy company to sever its connection with unprofitable and unreclaimed wells when the company’s assets were sold off to [Read more]
Feds paid on high end for Trans Mountain pipeline, spending watchdog says
OTTAWA - Canada's parliamentary budget watchdog says the Liberal government paid the "sticker price" when it bought the Trans Mountain pipeline from Kinder Morgan for $4.5 billion. Parliamentary Budget Officer Yves Giroux estimates the Trans Mountain pipeline and planned expansion project are worth between $3.6 billion and $4.6 billion. This means government's purchase price of $4.5 billion was on the high end of the project's total calculated value. Giroux also estimates [Read more]
Husky finalizing repair plan as some oil production resumes off N.L. after spill
ST. JOHN'S, N.L. - Husky restarted oil production off Newfoundland this week, but the company hasn't yet determined how to repair the connector responsible for November's oil spill. The company halted production for more than two months in the White Rose oil field following a Nov. 16 oil spill of an estimated 250,000 litres. Earlier this week, the Canada-Newfoundland Offshore Petroleum Board approved Husky's restart at one drill centre that uses a separate flowline from the one [Read more]
Marksmen Announces Closing of Financing to Replace Outstanding Debenture
CALGARY, Alberta, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it has closed its previously announced non-brokered financing to replace an outstanding debenture by issuing a non-convertible secured debenture (“Debenture”) in the amount of $1,250,000 and 1,800,000 share purchase warrants of the Company (the “Warrants”). Each whole Warrant entitles the holder thereof to purchase one common share of the Company for $0.24 per share if the [Read more]
Supreme Court to rule on whether energy companies can abandon old wells
OTTAWA - The Supreme Court of Canada is set to rule today on whether energy companies can walk away from unprofitable wells on agricultural land without having to clean up behind them. A 2016 ruling in the Alberta Court of Queen's Bench allowed a bankrupt energy company to sever its connection with unprofitable and unreclaimed wells when their assets were sold off to creditors. The Alberta Court of Appeal upheld the ruling. Since the case came to court, an estimated 1,800 wells [Read more]
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