New Canadian think tank SecondStreet.org released public opinion research today that shows a majority of Canadians don’t have the same views towards the oil and gas sector that anti-oil environmental protestors often advocate. The Leger poll shows that Canadians overwhelmingly believe that if Canada keeps its oil in the ground, another country will simply increase its oil production – meaning we’re not really lowering greenhouse gas emission. Further, Canadians overwhelmingly agree that [Read more]
Headlines
Saturn Oil & Gas Inc. announces reliance on temporary regulatory filing relief
CALGARY, Alberta - Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) today provides the following update on the status of filing its audited annual financial statements, the accompanying management’s discussion and analysis (“MD&A”) and its related CEO and CFO certifications, for the fiscal year ended December 31, 2019 (collectively the “Annual Filings”). Due to the COVID-19 pandemic, the Company will follow the Alberta Securities Commission Blanket Order 51-517 [Read more]
TC Energy completes the sale of Ontario natural gas-fired power plants for proceeds of $2.8 billion
CALGARY, Alberta- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) today announced that it has completed the sale of its interests in three Ontario natural gas-fired power plants to a subsidiary of Ontario Power Generation Inc. for net proceeds of approximately $2.8 billion prior to post-closing adjustments. The facilities include the 683-megawatt Halton Hills power plant, the 900-megawatt Napanee generating station and TC Energy’s 50 per cent interest in the 550-megawatt [Read more]
Navigating through the application waters for federal grant program
Last week the Federal government announced the eagerly awaited Site Rehabilitation Program. This program will provide grants directly to oilfield service contractors and not licensees, who may apply for and receive grants to complete well, pipeline, and oil and gas site closures, abandonments, and reclamation work on currently inactive well sites. There are still several unanswered questions about the program and the application process which is set to open on May 1st. What we know with [Read more]
Why all eyes will be on the expiry of Brent oil futures this week
The expiry of the June contract for Brent oil futures in Europe on Thursday will possibly be the most watched event in oil markets for some time after the U.S. benchmark plummeted below zero for the first time in history last week. The coronavirus pandemic has killed oil demand as over four billion people are in lockdown and last week, ahead of its contract expiry, U.S. West Texas Intermediate (WTI) futures crashed deep into negative territory making it a liability for anyone holding [Read more]
Husky Energy announces first quarter 2020 dividend and second quarter 2020 preferred shares dividend payments
CALGARY, Alberta - Husky Energy’s Board of Directors has approved a reduction to the quarterly dividend to $0.0125 (Cdn) per common share for the three-month period ended March 31, 2020. The dividend will be payable on July 2, 2020 to shareholders of record at the close of business on June 9, 2020. Regular dividend payments on each of the Cumulative Redeemable Preferred Shares – Series 1, Series 2, Series 3, Series 5 and Series 7 – will be paid for the three-month period ended June 30, 2020. [Read more]
Oil prices claw back losses as storage fills less rapidly than feared
U.S. oil prices jumped on Wednesday, trimming some of this week's losses, after U.S. stockpiles rose less than expected and on expectations demand will increase as some European countries and U.S. cities moved to ease coronavirus lockdowns. U.S. West Texas Intermediate (WTI) crude futures climbed to $15.34 a barrel, or 15.6%. Brent crude futures rose 8.1%, or $1.71, to $22.66 a barrel. U.S. crude inventories rose by 10 million barrels to 510 million barrels in the week to April 24, [Read more]
XI Technologies: how producers can capitalize on Alberta’s Site Rehabilitation Program
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 Wednesday Word to the Wise in your inbox, subscribe here. The various efforts of both the provincial and federal government to assist the industry as it struggles through the dual challenges of COVID-19 and catastrophic commodity pricing have largely been focused on liability retirements for [Read more]
Leucrotta Announces Q4 2019 Financial and Operating Results
Calgary, Alberta - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2019. All dollar figures are Canadian dollars unless otherwise noted. FINANCIAL RESULTS Three Months Ended December 31 Year Ended December 31 ($000s, except per share amounts) 2019 2018 % Change 2019 2018 % [Read more]
Husky Energy reports first quarter 2020 results
This news release contains references to the non-GAAP financial measures “funds from operations”, “free cash flow”, “net debt”, “operating margin” and “net debt to trailing funds from operations.” Please refer to “Non-GAAP Measures” at the end of this news release. CALGARY, Alberta - Husky Energy (TSX:HSE) recorded funds from operations of $25 million in the first quarter, with cash flow from operating activities, including changes in working capital, of $355 million. Funds from operations were [Read more]