CALGARY - TC Energy Corp. says it has restarted the section of the Keystone pipeline that was unaffected by last week's oil leak in Kansas. The Calgary-based company says the restarted segment of pipeline extends from Hardisty, Alta., to Patoka, Ill. The portion of the pipeline affected by the spill remains shut down. The Keystone pipeline suffered the worst leak in its history last week when about 14,000 barrels of oil spilled into a creek in Washington County, Kan. The affected [Read more]
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TransAlta announces outlook for 2023 and update on corporate strategy
CALGARY, AB - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today its financial outlook for 2023. Highlights Adjusted EBITDA(1) range of $1.20 billion to $1.32 billion Free Cash Flow(1)(2) range of $560 million to $660 million or FCF per share range of $2.07 to $2.44 Sustaining capital(3) range of $140 million to $170 million Continued delivery of TransAlta's Clean Electricity Growth Plan by reaching final investment decision on 500 MW of [Read more]
Greenfire Resources Inc. and M3-Brigade Acquisition III Corp. announce US$950 million business combination
CALGARY, AB, and NEW YORK - Greenfire Resources Inc. ("Greenfire"), a Calgary-based energy company focused on the sustainable production and development of thermal energy resources from the Athabasca region of Alberta, Canada, and M3-Brigade Acquisition III Corp. (NYSE: MBSC), a New York Stock Exchange listed special purpose acquisition company ("MBSC"), announced today that they have entered into a definitive agreement for a business combination (the "Business Combination") that values [Read more]
TransAlta Renewables announces outlook for 2023
CALGARY, AB - Highlights Adjusted EBITDA(1) range of $495 million to $535 million Free Cash Flow(1) range of $340 million to $380 million CAFD(1) range of $230 million to $270 million TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX: RNW) announced today its 2023 financial outlook and an update on its long-term growth objectives. "Our 2023 outlook highlights resilient cash flow expectations with a payout ratio of approximately 100 per cent. We are [Read more]
Pieridae Announces 2023 Capital Program & Initial Guidance
CALGARY, Alberta, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) is pleased to provide 2023 guidance including scope of the 2023 capital program along with production and net operating income projections. 2023 Guidance ($ 000s unless otherwise noted) Initial 2023 Guidance Low High Total production (boe/d) 37,000 39,000 Net operating income ($M)(1)(2) $170,000 $200,000 Implied Operating Netback ($/boe) [Read more]
Well of the Week – Furthest east oilwell in WCSB
Earlier in this Petro Ninja – Enlighten Geoscience Well of the Week series on the petroleum geology of Manitoba we learned that the oil industry made its initial Manitoba discovery soon after Leduc No. 1. Exploration success continued into this millennium at a stratigraphic level just slightly older than Manitoba’s overwhelmingly Mississippian aged production. What else can we discover about this somewhat neglected portion of the Western Canada Sedimentary Basin? There is a lot of focus on [Read more]
Keyera Increases Interest in Core Fort Saskatchewan Facilities, Announces Concurrent $200 Million Bought Deal Equity Offering
CALGARY, AB, Dec. 14, 2022 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera" or the "Corporation") today announced it has entered into a definitive agreement to acquire an additional 21% working interest in the Keyera Fort Saskatchewan ("KFS") complex from Plains Midstream Canada, bringing its total ownership in KFS to 98% (the "Acquisition"). Total cash consideration is $365 million. The Acquisition is expected to close in the first quarter of 2023, subject to customary closing conditions, including [Read more]
Kiwetinohk announces 2023 budget, provides three-year outlook, and plans normal course issuer bid
CALGARY, AB - Kiwetinohk Energy Corp. (TSX: KEC) today announced its 2023 budget and three-year outlook. The Company began preparing to launch a normal course issuer bid. Kiwetinohk's 2023 budget is focused on delivering multiple strategic initiatives: High rate of return oil and gas production with strong production per share growth. Increasing owned gas plant processing capacity to support higher production by the second half of 2023. Filling majority of 120 MMcf/d [Read more]
XI Technologies: Top 5 Word to the Wise for 2022
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Word to the Wise in your inbox, subscribe here. For years, XI Technologies has been dedicated to sharing knowledge we’ve obtained via our data and research in weekly posts we call XI’s Word to the Wise. For our final post of 2022, we thought it would be useful to look back on our five most [Read more]
Imperial announces completion of its $1.5 billion substantial issuer bid
CALGARY, Alberta -Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 20,689,655 common shares (“Shares”) at a price of $72.50 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $1.5 billion of its Shares. All amounts are in Canadian dollars. The Shares purchased represent an aggregate purchase of $1.5 billion and 3.4 percent of the total number of Imperial’s issued and outstanding Shares [Read more]