CALGARY, Oct. 4, 2019 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Company") (TSX: TWM) is pleased to announce that it has entered into a purchase and sale agreement ("PSA") to acquire Husky Energy Inc.'s ("Husky") light oil refinery located at Prince George, British Columbia ("B.C.") (the "Acquisition") thereby expanding Tidewater's liquids value chain. The Prince George Refinery ("PGR") is a 12.0 Mbbl/d light oil refinery that predominantly produces low [Read more]
Archives for October 2019
Husky Energy Announces Agreement to Sell Prince George Refinery
CALGARY, Alberta, Oct. 04, 2019 (GLOBE NEWSWIRE) -- Husky Energy (TSX:HSE) today announced it has reached an agreement for the sale of its Prince George Refinery to Tidewater Midstream and Infrastructure for $215 million in cash plus a closing adjustment for inventory, and a contingent payment of up to $60 million over two years. Husky previously announced it was considering selling the Prince George Refinery to focus on its Integrated Corridor and Offshore businesses. The Integrated Corridor [Read more]
Oil climbs but still set for big weekly loss over demand worries
Oil futures were higher ahead of the weekend but remained on track for large weekly losses on fears that slower global economic growth will hurt fuel demand, even as Saudi Arabia said it has fully restored oil output after recent attacks. U.S. West Texas Intermediate (WTI) crude futures rose 88 cents, or 1.6%, to $53.16. Brent crude oil futures rose 87 cents, or 0.5%, to $58.71 a barrel by 0450 GMT "Asia will probably see some buying emerge over the session as traders hedge potential [Read more]
PrairieSky Royalty Declares October Dividend and Announces Conference Call for Q3 2019 Results
CALGARY, Alberta, Oct. 03, 2019 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. (“PrairieSky”) (TSX:PSK) announced today that its Board of Directors has declared a dividend of CDN $0.0650 per common share, payable in cash on November 15, 2019 to shareholders of record on October 31, 2019. This dividend is designated as an “eligible dividend” for Canadian income tax purposes. PrairieSky will release its Q3 2019 results on Monday, October 28, 2019 after markets close. The news release detailing [Read more]
Syncrude oil sands project cuts October sales by 1.4 million barrels
The Syncrude oil sands project in northern Alberta has cut October synthetic crude sales by 1.4 million barrels because planned maintenance at the plant has been extended, three market sources said on Thursday. Syncrude is a joint-venture bitumen mining and upgrading project, majority owned by Suncor Energy . Syncrude did not immediately respond to a request for comment. The 350,000 barrel-per-day Syncrude plant had maintenance planned for the third and fourth quarters of 2019, according [Read more]
U.S. natgas futures rise as cooler weather view offsets stock build
U.S. natural gas futures reversed course to turn positive on Thursday as forecasts for cooler weather this month drove expectations of increased demand for the fuel, offsetting a slightly bigger-than-expected storage build. Gas futures for November delivery on the New York Mercantile Exchange rose 2.8 cents, or 1.3%, to $2.275 per million British thermal units as of 11:31 a.m. EDT (1531 GMT). The U.S. Energy Information Administration (EIA) said utilities added 112 billion cubic feet [Read more]
Oil slides 2% as U.S. inventories build, weak economic data weighs
Oil prices fell more than 2% on Wednesday after official data showed a rise in U.S. crude inventories, adding to worries about an oversupplied market as weak economic readings in the United States depressed global financial markets. U.S. West Texas Intermediate (WTI) crude futures fell 98 cents, or 1.8%, to settle $52.64 a barrel. Brent crude futures settled down $1.20, or 2%, at $57.69 a barrel. Wall Street’s main indexes tumbled more than 2% as data suggested fallout from the [Read more]
PrairieSky Royalty Appoints New Independent Director
James Estey, Chair of the Board of Directors of PrairieSky Royalty Ltd. (“PrairieSky”) (TSX: PSK), is pleased to announce the appointment of Mr. Robert Robotti to the company's Board of Directors. Mr. Robotti’s appointment is effective October 3, 2019. "On behalf of the Board, I am pleased to welcome Mr. Robotti as our newest independent director," said Mr. Estey. "Bob is an experienced investor and corporate director. As an energy investor he has a depth of knowledge across the North American [Read more]
Local Medicine Hat fabrication shop complete dispersal auction
Medicine Hat, Alberta Absolute Public Online Auction Bidding Starts Closing: Tuesday, October 8th, 2019 at 10:00 am (MDT) Featuring: Wheel Loaders, Rough Terrain Forklifts, Scissor Lifts, Paint Shop Sandblasting Equipment, CNC Equipment, Welders and Welding Equipment, Tools, & Much More! VIEW & BID LOTS Viewing Location: 502 Mitchell St N Redcliff, Alberta VIEW MAP Viewing & Inspection: Thursday, October 3rd – Friday, October 4th, 2019 9:00 am – 4:00 [Read more]
Climate change debate polarization shows lack of leadership, says oilsands CEO
CALGARY - The CEO of oilsands producer MEG Energy Corp. says polarization of the climate change debate as it relates to the role of the Canadian energy industry indicates an "extreme" lack of leadership from all political parties in Canada. Speaking at the Natural Resources Summit in Calgary, Derek Evans says he's frustrated by the wide gulf in views exhibited by parties in the run-up to the Oct. 21 election. With polls showing the front-running Liberals and Conservatives in a close race, [Read more]
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