CALGARY, AB and LANSING, MI - Enbridge Inc. (TSX: ENB) (NYSE: ENB) – Today the Ingham County Circuit Court of the State of Michigan amended its temporary restraining order requiring Enbridge to temporarily shut down the west segment of the Line 5 dual pipelines through the Straits of Mackinac. Enbridge will now begin safely restarting the west segment and anticipates operations will soon return to normal. Pursuant to the court order, we will conduct an inline inspection tool run on the west … [Read more...]
Government of Canada announces appointment of new chief executive officer to the Canada Energy Regulator
OTTAWA, ON - The Government of Canada is committed to delivering open, transparent, merit-based appointments with a view to serving Canadians as effectively and efficiently as possible. Today, the Government of Canada announced the Governor-in-Council appointment of Gitane De Silva as Chief Executive Officer (CEO) of the Canada Energy Regulator (CER), following an open and transparent competitive process that was launched in January 2020. Ms. De Silva is appointed for a term of five … [Read more...]
Gear Energy Ltd. announces operational update, guidance for 2020 and extension of borrowing base redetermination
CALGARY, AB, June 30, 2020 /CNW/ - Gear Energy Ltd. ("Gear") (TSX: GXE) announces an update on current and future expected operations and an extension to the scheduled date for its semi-annual borrowing base redetermination. Production/Guidance With recent improvement in oil prices supporting positive economic returns, Gear has initiated a gradual production re-start across the majority of the asset base. After initiating shut ins through April, corporate production was restricted by … [Read more...]
Journey Energy Inc. provides banking update
CALGARY, AB - Journey Energy Inc. (JOY – TSX; JRNGF - OTCQX) ("Journey" or the "Company") announces an extension to the forbearance agreement with its banking syndicate. Journey is pleased to report that it has reached an agreement with its syndicate of lenders to extend the current forbearance agreement until July 31, 2020. Journey has been diligently working with its lenders to reach an amicable solution to the reduction in its borrowing base caused by the impact of the COVID-19 pandemic … [Read more...]
Yangarra announces completion of borrowing base review
CALGARY, AB - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) has completed its annual borrowing base review and the syndicated senior credit facility has been confirmed at $210 million of which the Company was drawn approximately $195 million. The term out date has been extended to May 28, 2021 and the maturity date has been extended to May 28, 2022. The only changes to terms and conditions are to the interest rate grid and the elimination of the Company's Normal Course Issuer … [Read more...]
Altura Energy Inc. announces the closing of an asset disposition and provides a corporate update
CALGARY, AB - Altura Energy Inc. ("Altura" or the "Corporation") (TSXV: ATU) announces a June 30, 2020 asset disposition and provides an update on its credit facility renewal and operations. ASSET DISPOSITION Altura has amended the timing of the second transaction in the December 4, 2019 definitive agreement (the "Amending Agreement") with a private company ("PrivateCo") for the sale of a 5.5% working interest in the Corporation's production, wells, lands and facilities for … [Read more...]
MPUC rules line 3 replacement project’s environmental impact statement, certificate of need and route permit are valid
CALGARY, AB and DULUTH - Enbridge Inc. (NYSE: ENB) (TSX: ENB) – The Minnesota Public Utilities Commission (MPUC) voted to deny petitions for reconsideration filed on May 21, 2020 in the Line 3 Replacement Project (L3RP) environmental impact statement (EIS), certificate of need (CN) and route permit (RP) dockets. "The MPUC's decision to deny the petitions for reconsideration is yet another important step forward for the Line 3 Replacement Project. This decision properly reflects the … [Read more...]
Enbridge responds to temporary ruling on line 5 operations
CALGARY, AB and LANSING, MI - Today a Michigan Circuit Court issued a Temporary Restraining Order requiring Enbridge (TSX: ENB) (NYSE: ENB) to shut down Line 5 through the Straits of Mackinac within 24 hours until a hearing on the State's request for preliminary injunction can be held Tuesday, June 30, 2020 and a ruling made on the preliminary injunction. Vern Yu, Executive Vice President and President of Liquids Pipelines said: "Enbridge is disappointed in the court's ruling as we believe … [Read more...]
Crescent Point releases 2020 sustainability report
CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) has released its 2020 Sustainability Report (the "Report") highlighted by an emissions intensity reduction target of 30 percent by 2025. The Report outlines the Company's latest progress and commitment to strong environmental, social and governance ("ESG") performance. Additional highlights of the Report include: An effective risk-management response to the COVID-19 pandemic, … [Read more...]
Obsidian Energy provides corporate and operational update
CALGARY, AB - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide a corporate and operational update. Message to Shareholders We are pleased to report that Obsidian Energy has quickly adapted to the challenging environment over the past few months by taking prudent and decisive actions resulting in a CDN $24 million reduction in our forecasted operating expenses for 2020. Due to improved oil prices, narrower oil … [Read more...]
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