CALGARY - The United Conservatives are promising to get Alberta's books out of the red and into a $714-million surplus by 2023 — a year earlier than the NDP. The party also says if it wins the spring election, it will raise Alberta's debt level to $86 billion over that time period, a figure that is well below current government projections. "This is a very mainstream, balanced approach to gradually getting to balance without any absolute reductions in spending," UCP Leader Jason Kenney [Read more]
Archives for March 2019
Trump issues new permit for stalled Keystone XL pipeline
WASHINGTON - In an apparent bid to kick-start the long-stalled Keystone XL oil pipeline, President Donald Trump on Friday issued a new presidential permit for the project, two years after he first approved it and more than a decade after it was first proposed. Trump said the permit issued Friday replaces one granted in March 2017. The order is intended speed up development of the controversial pipeline, which would ship crude oil from tar sands in western Canada to the U.S. Gulf Coast. A [Read more]
President Trump affirms support for Keystone XL project
WASHINGTON, March 29, 2019 (GLOBE NEWSWIRE) -- TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today thanked President Donald Trump for affirming his support for the Keystone XL pipeline project by issuing a new Presidential Permit. The president’s action today clarifies the national importance of Keystone XL and aims to bring more than 10 years of environmental review to closure. “President Trump has been clear that he wants to create jobs and advance U.S. energy security and the [Read more]
Closing of Non- Brokered Private Placement, Warrant Amendments and Project Update
Closing of Non- Brokered Private Placement, Warrant Amendments and Project Update Calgary, Alberta - Sonoro Energy Ltd (the "Corporation " or "Sonoro") (TSX Venture: SNV) is pleased to announces the closing of its non-brokered private placement for total gross proceeds of $312,000 further to its February 25th, 2019 news release announcing the financing. The Company will issue 10,400,000 Units (a "Unit") at a price of $0.03 per Unit, where each Unit consists of one common share (a [Read more]
Bellatrix plunges on proposal to trade debt for 83.5% of its equity value
CALGARY - Shares in Bellatrix Exploration Ltd. fell by as much as 35 per cent Friday after it proposed a deal that would leave its existing shareholders with just 16.5 per cent of the company. The Calgary-based oil and gas producer says it intends to exchange US$146 million in senior unsecured notes due in 2020 for US$100 million in new debt maturing in 2023, plus common shares totalling 51 per cent of the company's float. It is also offering to trade $50 million in convertible [Read more]
Canada Weekly Rig Count Down 17 to 88
Western Canada’s fleet of drilling rigs decreased by 17 rigs to a total of 88 according to data collected by Baker Hughes for the week of March 29th. From last Friday, Alberta rig counts went from 85 to 68. Saskatchewan's rig count from 3 to 2. Oil drilling went from 49 to 35; natural gas rigs went from 56 to 53. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers cut most oil rigs in a quarter in three years
U.S. energy firms this week reduced the number of oil rigs operating to their lowest in nearly a year, cutting the most rigs in a quarter in three years despite a 30 percent hike in crude prices so far in 2019.Drillers cut eight oil rigs in the week to March 29, bringing the total count down to 816, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That is the first time the rig count declined for six [Read more]
Michigan pipeline replacement setback raises fears for existing conduit
CALGARY - A move by the governor of Michigan to halt work on a project to replace Enbridge Inc.'s 65-year-old Line 5 pipeline is raising fears that the recently elected Democratic administration could also try to shut down the existing pipeline. Analyst Matthew Taylor of Tudor Pickering Holt & Co. says that could result in crude supply disruptions for refineries in southern Ontario and Quebec and could also reduce oil pipeline takeaway capacity from Western Canada. On Thursday, [Read more]
Suncor restarting unit after planned work at Ontario refinery -media
Suncor Energy is restarting a unit on Friday at its Sarnia, Ontario refinery after planned work, according to report on Blackburn News websiteThe work started on March 19, the report added. It did not specify what kind of unit was involved.()Suncor operates an 85,000 barrel-per-day (bpd) refinery in Sarnia, Ontario, according to the company website. (Reporting by Nallur Sethuraman and Brijesh Patel in Bengaluru Editing by James Dalgleish) [Read more]
Bellatrix Announces Recapitalization Transaction
CALGARY, Alberta, March 29, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announced today a proposed recapitalization transaction (the “Recapitalization Transaction”) designed to improve and strengthen the Company’s overall financial position and which, among other things, would: Reduce the Company’s total outstanding debt by approximately C$110 million (approximately 23%) and reduce annual cash interest payments by over C$12 million [Read more]
- 1
- 2
- 3
- …
- 24
- Next Page »