Western Canada’s fleet of drilling rigs decreased by 16 rigs to a total of 224 according to data collected by Baker Hughes for the week of February 15th. From last Friday, Alberta rig counts went from 159 to 153. Saskatchewan's rig count went from 57 to 53. Oil drilling went from 158 to 152; natural gas rigs went from 82 to 72. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
U.S. drillers add oil rigs for second week in a row
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels. Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is still higher than a year ago when 798 [Read more]
Natural gas liquids processing gains drive profit increase at Inter Pipeline
CALGARY - Inter Pipeline Ltd. says an increase in natural gas liquids processing volumes and revenue was the major driver behind higher earnings in the fourth quarter. The Calgary-based energy transport, processing and storage company says it had net income of $144 million or 36 cents per share in the last three months of 2018, compared with $142 million or 37 cents per share in the same period of 2017. Revenue from its liquids processing facilities rose to $120 million in the [Read more]
Full pipelines, new services propel Enbridge to street-beating $1.17B income
CALGARY - Enbridge Inc. says full oil and gas pipelines and the addition of new services led to fourth-quarter earnings that beat analyst expectations. Canada's largest pipeline operator says adjusted net income was $1.17 billion or 65 cents per share in the last three months of 2018, beating analyst estimates of $1.12 billion or 62 cents per share as noted by Thomson Reuters Eikon. A year ago, Enbridge reported adjusted earnings of $1.01 billion or 61 cents per share for the [Read more]
Harvest Operations Corp. Reports 2018 Year End Results
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Harvest Operations Corp. (“Harvest” or the “Company”) announced its financial and operating results for the fourth quarter and full year ended December 31, 2018. This press release is an overview of the fourth quarter and full year results for 2018 and should be read with the audited consolidated financial statements and Management’s Discussion and Analysis (MD&A) for the fourth quarter and full year ended December 31, 2018 available on [Read more]
Peyto Improves Sustainability and Expands Cardium Play in 2018
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present the results and analysis of its independent reserve report effective December 31, 2018. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2018 marks the Company’s 20th year of profitable reserves development. SUSTAINABILITY Peyto’s base production decline continues to [Read more]
Enbridge Appoints New Directors to its Board
CALGARY, Feb. 15, 2019 /PRNewswire/ - Enbridge Inc. (TSX:ENB) (NYSE:ENB) is pleased to announce that its Board of Directors has appointed Teresa S. Madden and Susan M. Cunningham as Directors of Enbridge. Ms. Madden has more than 30 years of power and utility industry experience, most recently as the former Executive Vice President and Chief Financial Officer of Xcel Energy, Inc., an electric and natural gas utility. She brings extensive industry, business and financial experience to the [Read more]
Enbridge Inc. Reports Strong Fourth Quarter and Full Year 2018 Results
CALGARY, Feb. 15, 2019 /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) (TSX:ENB) (NYSE:ENB) today reported fourth quarter and full year 2018 financial results and provided a quarterly business update. FOURTH QUARTER AND FULL YEAR HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise noted) GAAP earnings of $1,089 million or $0.60 per common share for the fourth quarter of 2018 and $2,515 million or $1.46 per common share for the full year [Read more]
[Just Announced] Global Petroleum Show 2019 Election Dialogues Tues, February 26 in Edmonton, Alberta
NEW POLL & HIGH-LEVEL MEDIA DEBATES TO UNCOVER WHICH PARTY HAS THE BEST PLATFORM TO SUPPORT ENERGY INDUSTRY Join some of Alberta’s best-known media personalities who will duke it out over which party is best suited to support Alberta’s energy industry CALGARY, AB (February 14, 2019): New West Public Affairs and dmg events are proud to announce the details for the first stop in our “Global Petroleum Show 2019 Election Dialogues” media panels leading up to the 51st Edition of the 2019 [Read more]
Berkshire Hathaway takes new stake in Canada’s Suncor Energy
Warren Buffett's Berkshire Hathaway Inc said on Thursday it had taken a fresh stake in Suncor Energy Inc for the second time in about six years, sending the U.S.-listed shares of the energy major up 4 percent in after-market trading. Suncor, Canada's biggest oil and gas company, is considered one of the safest Canadian energy companies to invest in, given its integrated structure and diversified business mix. Berkshire's investment puts the Buffett stamp on Suncor and could be seen as a [Read more]