Delphi Energy Corp. (“Delphi” or the “Company”) announces that the semi-annual borrowing base redetermination of its senior credit facility has been finalized. Effective on the earlier of the closing date for the Recapitalization Transaction (as defined below) and November 29, 2019, and conditional upon completion of the Recapitalization Transaction, the borrowing base of the senior credit facility led by Alberta Treasury Branches has been renewed at $80.0 million. Further, conditional upon [Read more]
Archives for November 2019
Pattern Energy Enters Agreement to be Acquired by Canada Pension Plan Investment Board
Pattern Energy Shareholders to Receive $26.75 per Share in Cash; Transaction Enterprise Value of Approximately $6.1 Billion Canada Pension Plan Investment Board and Riverstone Holdings to Combine Pattern Energy and Pattern Development into an Integrated Renewable Energy Company Transaction Expected to Close by the Second Quarter of 2020 SAN FRANCISCO and TORONTO and NEW YORK, Nov. 4, 2019 /CNW/ -- Pattern Energy Group Inc. (Nasdaq and TSX: PEGI) ("Pattern Energy" or "the Company") and Canada [Read more]
Pattern Energy Reports Third Quarter 2019 Financial Results
- Declares dividend of $0.4220 per Class A common share for fourth quarter 2019 - SAN FRANCISCO, Nov. 4, 2019 /CNW/ -- Pattern Energy Group Inc. (the "Company" or "Pattern Energy") (NASDAQ & TSX: PEGI) today announced its financial results for the 2019 third quarter. Highlights Proportional gigawatt hours ("GWh") sold of 1,736 GWh Revenue of $119 million Net loss of $71 million Adjusted EBITDA of $65 million Cash available for distribution ("CAFD") of $22 million, [Read more]
Best Practices in ARO Management: A senior leaders’ roundtable on evolving environmental liability management practices in the WCSB
Energy liability cases like Redwater and Sequoia have changed the way Canadian E&P companies access capital, evaluate deals, and manage asset retirement obligations (ARO), leaving industry struggling to keep up with changing rules and approaches. XI Technologies Inc., creators of the WCSB's first ARO management software, will host an executive roundtable on Thursday, November 14, 2019, at the Hudson Event Centre. XI has assembled an expert panel to discuss Best Practices in ARO [Read more]
Crew Energy Inc. Announces Third Quarter 2019 Financial and Operating Results Highlighted by 24% Growth in Quarterly Condensate Volumes
Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") is pleased to announce our operating and financial results for the three and nine month periods ended September 30, 2019. Crew's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and nine month periods ended September 30, 2019 are available on Crew's website and filed on SEDAR at www.sedar.com. Q3 2019 HIGHLIGHTS Average Production of 22,824 boe per day with 29% Liquids: Liquids [Read more]
November Inventory Update – Huge Savings on Oilfield Equipment During Downturn with Inclusive Energy
Save time and money with fast turn around. Inclusive energy has a massive inventory that is in stock and ready to go for a fraction of the cost of manufacturing. All storage tanks and process equipment are priced at least 50% below retail value. Being able to buy, rent or rent to own with the option of our one of a kind in house financing gives you unprecedented purchasing power. All of our assets are completely owned by Inclusive Energy for quick turnaround and are fully inspected, with full [Read more]
Pieridae Appoints New Independent Director
Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce the appointment of Mr. Mark Horrox as an additional independent director, effective immediately. Mr. Horrox is a principal at Third Eye Capital ("TEC"). He has 20 years of global experience investing in companies undergoing change or growth. His responsibilities at TEC include advancing the firm's investment activities in the Canadian energy market. Mr. Horrox is the Director of Erikson National Energy [Read more]
Canada weekly rig count drops 5 to 142
Canada’s fleet of active drilling rigs decreased from 147 to 142 since last week according to data from Baker Hughes. Total drilling count was 142 at November 1. 93 rigs were drilling for oil; 49 for natural gas. The drilling activity in Alberta increased, growing from 97 to 99. Saskatchewan's drilling activity dropped from 35 to 28. View a full breakdown of Western Canada’s rig activity. [Read more]
Enbridge Provides Notice of Series 9 Preferred Shares Conversion Right and Announces Reset Dividend Rates
CALGARY, Nov. 1, 2019 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it does not intend to exercise its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series 9 (Series 9 Shares) (TSX: ENB.PF.A) on December 1, 2019. As a result, subject to certain conditions, the holders of the Series 9 Shares have the right to convert all or part of their Series 9 Shares on a one-for-one basis into Cumulative Redeemable Preference [Read more]
Chevron Reports Third Quarter Net Income of $2.6 Billion
Cash flow from operations of $7.8 billion Share repurchases of $1.25 billion SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today reported earnings of $2.6 billion ($1.36 per share - diluted) for third quarter 2019, compared with $4.0 billion ($2.11 per share - diluted) in the third quarter 2018. Included in the current quarter was a tax charge of $430 million related to a cash repatriation. Foreign currency effects increased earnings in the third quarter 2019 by $74 [Read more]