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]
News
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]
Penn West Announces The Closing Of The Previously Announced Sale Of Royalties
CALGARY, May 6, 2015 /CNW/ - PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE) ("Penn West", or the "Company") is pleased to announce that it has successfully closed its previously announced sale of royalty production and mineral title lands for an aggregate cash consideration of approximately $318 million, after minor closing adjustments. Proceeds from this transaction will be used to reduce the Company's senior debt. About Penn West Penn West is one of the largest conventional oil and [Read more]
Enbridge Reports First Quarter Adjusted Earnings of $468 Million or $0.56 Per Common Share
CALGARY, ALBERTA--(Marketwired - May 6, 2015) - HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise noted) First quarter loss was $383 million, including the impact of net unrealized non-cash mark-to-market losses First quarter adjusted earnings were $468 million or $0.56 per common share Expansion of the Canadian Mainline system between Edmonton and Hardisty placed into service in April Enbridge delivered a formal proposal to transfer the [Read more]
Husky Energy Reports Solid First Quarter Results
CALGARY, AB--(Marketwired - May 06, 2015) - Husky Energy (TSX: HSE) reported solid results in the first quarter, including cash flow from operations of $838 million, net earnings of $191 million and production of 356,000 barrels of oil equivalent per day (boe/day), reflecting the resiliency of its portfolio in a low oil price environment. "The structural changes made by Husky since 2010, including the decision to remain an integrated and diversified company, will continue to yield benefits [Read more]
Waldron Energy Corporation Announces the Sale of Its Ricinus and Strachan Properties Has Closed
CALGARY, ALBERTA--(Marketwired - May 5, 2015) - Pursuant to its May 4, 2015 press release, Waldron Energy Corporation (TSX:WDN) is pleased to announce that it has closed the sale of its Strachan and Ricinus properties for gross proceeds of $12.3 million. Investor Information Waldron is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares are currently listed on the Toronto Stock Exchange [Read more]
Pembina Pipeline Corporation Reports First Quarter 2015 Results
Solid Operating Results and Progress on Capital Projects Continues to Support Financial Resiliency; Board Approves 5.2 Percent Dividend Increase CALGARY, May 5, 2015 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the first quarter of 2015. Financial Overview ($ millions, except where noted) 3 Months Ended March [Read more]
Pembina Pipeline Corporation Announces May 2015 Dividend and 5.2 Percent Dividend Increase
CALGARY, May 5, 2015 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors approved a 5.2 percent increase in its monthly common share dividend rate (from $0.145 per common share to $0.1525 per common share) and declared a monthly dividend of $0.1525 payable, subject to applicable law, on June 15, 2015 to shareholders of record on May 25, 2015. This dividend is designated an "eligible dividend" for Canadian income tax [Read more]
Gibsons Reports First Quarter 2015 Financial Results
CALGARY, ALBERTA--(Marketwired - May 5, 2015) - All financial figures are in Canadian dollars unless otherwise stated Gibson Energy Inc. ("Gibsons" or the "Company"), (TSX:GEI), announced today operating and financial results for the three months ended March 31, 2015. Highlights: Segment Profit1 of $123 million in the first quarter of 2015 included strong contributions from our Terminals & Pipelines and Propane & NGL Marketing and Distribution segments; Distributable Cash [Read more]