CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered solid operating and financial performance in the company’s inaugural quarter of operations following the acquisition of Husky Energy Inc. on January 1. With its disciplined and methodical approach to integrating Husky’s assets, the company has made significant progress in the first three months of the year and is firmly on track to deliver on its targeted acquisition synergies and 2021 budget and production guidance. Cenovus [Read more]
Headlines
Malaysia’s Petronas signs first Canadian-indexed LNG deal
Malaysia's state-owned Petroliam Nasional Bhd said on Friday it had signed its first liquefied natural gas (LNG) deal using a Canadian pricing indexation as basis. Petronas LNG sold a spot LNG cargo to a buyer in the Far East for August delivery using the Canada Alberta Energy Company (AECO) index, the company said. AECO is a Canadian natural gas price benchmark, similar to the Henry Hub index in the United States, but is not typically used as a pricing basis for LNG spot contracts. In [Read more]
TransGlobe Energy Corporation announces first quarter 2021 financial and operating results for the three months ended March 31, 2021
AIM & TSX: “TGL” & NASDAQ: “TGA” This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta - TransGlobe Energy Corporation (“TransGlobe” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2021. All dollar values are expressed in [Read more]
Pembina Pipeline Corporation reports results for the first quarter 2021 and provides business update
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today its financial and operating results for the first quarter of 2021. Highlights Strong start to the year - First quarter earnings of $320 million and adjusted EBITDA of $835 million, both being consistent with the same period in the prior year, yet reflecting an improving business environment relative to most of 2020. Excluding the impact of hedging in the quarter, adjusted EBITDA [Read more]
Crew Energy Inc. announces first quarter 2021 financial and operating results highlighted by a 174% increase in adjusted funds flow
CALGARY, Alberta - Crew Energy Inc. (TSX: CR) (“Crew” or the “Company”) today announced our operating and financial results for the three-month period ended March 31, 2021. Crew’s Financial Statements and Notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three-month period ended March 31, 2021 are available on Crew’s website at www.crewenergy.com and filed on SEDAR at www.sedar.com. “Crew entered 2021 primed to capitalize on structural improvements in crude oil and [Read more]
Heavy crude discount widens
Canadian heavy crude's discount to West Texas Intermediate (WTI) widened on Thursday. Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, widened to last trade at $13.25 per barrel below WTI, according to NE2 Canada Inc, deepening from Wednesday's discount of $12.85 per barrel below the benchmark. Light synthetic crude from the oil sands for June delivery settled at $1.10 per barrel below WTI, according to NE2. On Wednesday it settled at $1.35 below U.S. [Read more]
Inter Pipeline reports strong first quarter 2021 financial and operating results
CALGARY, AB - Inter Pipeline Ltd. ("Inter Pipeline" or the "Company") (TSX: IPL) announced its financial and operating results for the three-month period ended March 31, 2021. "Inter Pipeline continues to successfully execute its business plan as evidenced by our solid quarterly results and the considerable progress made on contracting and completion of the Heartland Petrochemical Complex," said Christian Bayle, Inter Pipeline's President and Chief Executive Officer. "The ongoing [Read more]
Alberta temporarily tweaks environmental liability for oil sands mines
The province of Alberta said on Thursday it will allow oil sands mining companies to change how they calculate environmental liabilities this year, to take into account the wild swings of 2020, when oil prices turned negative. Producers would be on the hook for billions of dollars in extra security payments if they calculated liabilities under the old formula, Alberta government officials told a news conference. However, that cash would likely have to be repaid to companies next year because [Read more]
Enerplus announces first quarter 2021 results; increases and transitions to a quarterly dividend
All financial information contained within this news release has been prepared in accordance with U.S. GAAP, except as noted under "Non-GAAP Measures". This news release includes forward-looking statements and information within the meaning of applicable securities laws. Readers are advised to review the "Forward-Looking Information and Statements" at the conclusion of this news release. A full copy of Enerplus' First Quarter 2021 Financial Statements and MD&A will be available on the [Read more]
Alberta eases security payment burden for oilsands companies
EDMONTON - Alberta is changing how it calculates the payments oilsands mines make to ensure there's enough money to clean up the mess they leave behind. The province says the decision is in reaction to low oil prices last year, which briefly reached negative values. Lisa Fairweather of Alberta Environment says keeping the old program would have cost the industry billions of extra dollars, even though the environmental risk of the mines hasn't changed. She says today's move is temporary [Read more]