CALGARY, ALBERTA--(Marketwired - Feb. 13, 2015) - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced net income attributable to common shares for fourth quarter 2014 of $458 million or $0.65 per share compared to $420 million or $0.59 per share for the same period in 2013. For the year ended December 31, 2014, net income attributable to common shares was $1.7 billion or $2.46 per share compared to $1.7 billion or $2.42 per share in 2013. Comparable earnings for fourth [Read more]
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Check out the BOE Report featured in Times Square NY
Canada's source for oil and gas news was on display front and centre at Times Square in Manhattan. As part of a partnership with NASDAQ Globe Newswire, the BOE Report logo hit NASDAQ's board for 5 minutes Wednesday morning. We're pleased to report our site's traffic has rapidly increased since we launched 2 years ago. The BOE Report reached 39,121 users in January and garnered a record-breaking 203,000 pageviews - 90% of the site's traffic came from western Canada (85% in Alberta). [Read more]
Keystone XL snagged again in Nebraska, could be months in court, opponents say
WASHINGTON - With a major decision on the Keystone XL pipeline looming in Washington, the project faces yet another snag in the place where opposition to it began — Nebraska.Opponents there say they may have stalled it for more than a year.The perenially postponed pipeline project will wind its way through the Nebraska court system yet again, with both sides asking the courts for more clarity on the legality of imposing the route on hostile landowners.A lawyer who fought the project once to the [Read more]
Crude oil jumps $2 above $51/bbl
The price of oil rose sharply as the CEO of Royal Dutch Shell said he expects crude demand will grow faster than supply this year. Benchmark U.S. crude rose $2.37 to close at $51.21 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.39 to close at $57.05 in London. Oil has recovered since falling 60 percent in the past seven months. It went as low as $45 a barrel at the end of January. The rebound is encouraging investors who had [Read more]
TransCanada suspends efforts to acquire Nebraska land for pipeline amid legal challenge
OMAHA, Neb. - Calgary-based TransCanada Corp. (TSX:TRP) is temporarily suspending efforts to seize Nebraska land for the Keystone Pipeline XL amid a legal challenge.A Holt County District judge issued a temporary injunction Thursday, keeping TransCanada from invoking eminent domain along the proposed Keystone Pipeline route in northern Nebraska.TransCanada agreed to the order, hoping to get an accelerated trial schedule.Landowners have sued over the project.TransCanada filed legal papers in nine [Read more]
Cenovus Energy cutting 15 per cent of staff, suspends salary increases
CALGARY - Cenovus Energy Inc. (TSX:CVE) says it expects to cut its staff by about 15 per cent, the bulk of which it says will come from its contract workforce.The company also suspended employee salary increases for this year as it looks to cut its discretionary spending on travel, conferences, offsite meetings and information technology upgrades.Cenovus announced the moves as announced a loss of $472 million or 62 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $58 [Read more]
Husky Energy’s 2015 Update / 2014 Fourth Quarter and Annual Results
CALGARY, AB--(Marketwired - February 12, 2015) - Husky Energy (TSX: HSE) continues to focus on efficiencies, manage its investment flows and maintain its strong balance sheet as it delivers its work program. "We took a realistic approach with our 2015 business plan and continue to identify strategies to further support our balance sheet in today's lower oil price environment," said CEO Asim Ghosh. "We are continuing to position the Company for beyond this downturn as a low sustaining capital [Read more]
Cenovus oil sands production increases 25% in 2014
Proved bitumen reserves up 7% Combined oil sands production averaged more than 128,000 barrels per day (bbls/d) net in 2014, up 25% from 2013. Non-fuel operating costs per barrel at the company's oil sands projects declined 14% compared with the previous year. Total oil production averaged more than 203,000 bbls/d net, up 14% from 2013. Capital investment was $3.1 billion, 6% lower than in 2013. Cash flow was $3.5 billion, a 4% decrease compared with 2013. Rising oil sands production [Read more]
Surge Energy Inc. Announces a 52 Percent Increase in 2014 Year End Reserves, New Net Asset Value of $7.36 Per share; Sale of Non-core Assets for $35.6 Million; Record Weekly Production; New Bank Line Review
CALGARY, Feb. 11, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") delivered excellent results with respect to the Company's 2014 year end reserves. Highlights: Surge's net asset value (NAV)1 per share for December 31, 2014 is $7.36 utilizing the lower crude oil price deck used by Surge's external engineers. Increased Proved plus Probable reserves by 52% to 112.0 million boe as compared to December 31, 2013 reserves of 73.5 million boe. Increased Proved plus Probable reserves [Read more]
Arcan Provides Further Update Regarding Its Convertible Debenture Exchange Transaction
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2015) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") announced today a further update regarding the anticipated closing of the exchange of its $86.25 million 6.25% convertible unsecured subordinated debentures due February 28, 2016 and $85.0 million 6.50% convertible unsecured subordinated debentures due October 31, 2018 (collectively, the "Debentures") into common shares (the "Exchange Shares") at an exchange price of $0.15 per [Read more]