CALGARY, ALBERTA--(Marketwired - May 6, 2015) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) Canada and North America have a significant global advantage and tremendous opportunity with respect to energy, but face a challenge in building the connectivity needed to keep pace with energy development, Enbridge Inc. President and CEO Al Monaco told shareholders at the Company's annual general meeting held in Toronto today. Mr. Monaco spoke about what he sees as a critical issue facing the industry - an [Read more]
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Peyto Reports Q1 2015 Results and Improves Low Cost Advantage
CALGARY, ALBERTA--(Marketwired - May 6, 2015) - Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto" or the "Company") is pleased to present its operating and financial results for the first quarter of the 2015 fiscal year. Record low cash costs and improvements in capital efficiency combined for a 79% operating margin (1) and a 24% profit margin (2). Additional highlights included: Production per share up 13%. First quarter 2015 production increased 13% from 433 MMcfe/d (72,209 [Read more]
Whitecap Resources Inc. Announces First Quarter 2015 Results
CALGARY, May 6, 2015 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to report its operating and unaudited financial results for the three months ended March 31, 2015. Whitecap's unaudited interim consolidated financial statements and related Management's Discussion and Analysis ("MD&A") are available at www.sedar.com and on our website at www.wcap.ca. FINANCIAL AND OPERATING HIGHLIGHTS Three months ended March [Read more]
B.C. First Nation rejects more than $1B in first stage of vote over LNG proposal
PORT SIMPSON, B.C. - The first of three votes on a natural gas benefit offer worth over $1 billion has been unanimously rejected by a First Nation on British Columbia's northwest coast.All of the more than 180 eligible voters at a meeting in Port Simpson stood up to oppose the plan to build a liquefied-natural-gas pipeline and terminal in their territory, said Lax Kw'alaams band member Malcolm Sampson.Pacific NorthWest LNG, which is mostly owned by Malaysia-based oil and gas giant Petronas, has [Read more]
Veresen Announces 2015 First Quarter Results and Updated Guidance
CALGARY, ALBERTA--(Marketwired - May 6, 2015) - Veresen Inc. ("Veresen" or the "Company") (TSX:VSN) announced today financial and operating results for the three months ended March 31, 2015. Highlights Distributable cash(1) of $81.2 million ($0.28 per Common Share) compared to $65.6 million ($0.33 per Common Share) in the first quarter of 2014. Adjusted net income attributable to Common Shares(1) of $26.3 million ($0.09 per Common Share) compared to $24.3 million ($0.12 per Common [Read more]
Alberta green groups expecting much from Rachel Notley’s NDP government
EDMONTON - Green groups expect much from the New Democrats who painted Alberta orange in the provincial election Tuesday."There's been a commitment for Alberta to be a leader in protecting our environment and we're very much looking forward to follow-through," said Carolyn Campbell of the Alberta Wilderness Association.Premier-designate Rachel Notley spoke often on environmental issues when she was in opposition and environmentalists say they'll hold her to those positions.In her first news [Read more]
New Brunswick premier to seek Notley’s support for proposed Energy East pipeline
FREDERICTON - New Brunswick Premier Brian Gallant says he wants to talk to the new premier of Alberta and seek her support of the proposed Energy East pipeline.The NDP's Rachel Notley will become premier after her party defeated the Tories in Tuesday's vote to form a majority government after capturing 53 of the 87 seats in the legislature.Gallant says he didn't see anything during the Alberta election campaign to suggest Notley wouldn't support the pipeline project, but he wants to stress the [Read more]
Energy stocks hit as oilpatch takes stock of NDP election victory in Alberta
CALGARY - The new reality of an orange-tinged Alberta was beginning to sink in across the oilpatch and Bay Street on Wednesday and, though there were some jitters, many are awaiting more details before they pass judgment.The NDP's landslide election victory in a province that's been a Progressive Conservative bastion for 44 years stunned Sonny Mottahed, president and CEO of Black Spruce Merchant Capital in Calgary."I'm pretty shocked, quite shocked," he said. "There's been quite a bit of chatter [Read more]
Toronto Stock Exchange drops nearly 200 points in early trading Wednesday
TORONTO - Energy stocks led the Toronto stock market to a triple-digit drop Wednesday as investors weighed the potential impacts of the election of a majority NDP government in Alberta.Experts say investors are reacting to the uncertainty over how an inexperienced government will balance the budget and whether policies affecting the energy sector will change."Sometimes it's better to have the devil you know than the devil you don't," said Glenn Paradis, portfolio manager at Canoe Financial.The [Read more]
Alberta Elects NDP, Prentice Resigns
EDMONTON — The NDP has won a majority in Alberta by toppling the Progressive Conservative colossus that has dominated the province for more than four decades. The party under leader Rachel Notley swept all 19 seats in Edmonton on Tuesday and made inroads in previously barren NDP territory in Calgary and Lethbridge. The Wildrose party appeared poised to take second place and form the official Opposition, while Premier Jim Prentice and his PCs were trailing in third. Prentice later [Read more]