CALGARY, AB - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) has released its 2020 Sustainability Report (the "Report") highlighted by an emissions intensity reduction target of 30 percent by 2025. The Report outlines the Company's latest progress and commitment to strong environmental, social and governance ("ESG") performance. Additional highlights of the Report include: An effective risk-management response to the COVID-19 pandemic, [Read more]
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Toscana Energy enters into an arrangement agreement with i3 Energy Plc
CALGARY, Alberta - Toscana Energy Income Corporation (Toscana or the Company) (TSX: TEI) is pleased to announce that i3 Energy plc (i3 Energy), an AIM-listed oil and gas company with assets and operations in the United Kingdom, has elected to exercise the option granted under the previously announced option agreement dated March 29, 2020 between i3 Energy and Toscana, and pursuant thereto, the Company has entered into an arrangement agreement (the Arrangement Agreement) with i3 Energy under [Read more]
Obsidian Energy provides corporate and operational update
CALGARY, AB - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide a corporate and operational update. Message to Shareholders We are pleased to report that Obsidian Energy has quickly adapted to the challenging environment over the past few months by taking prudent and decisive actions resulting in a CDN $24 million reduction in our forecasted operating expenses for 2020. Due to improved oil prices, narrower oil [Read more]
Enbridge says Line 5 Injunction Unnecessary
Inspections show no damage to twin pipelines CALGARY, AB and LANSING, Mich. - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) said today the temporary restraining order and preliminary injunction sought by the Attorney General of Michigan is legally unsupportable, unnecessary, and will be vigorously opposed by Enbridge. Enbridge understands the importance of the Great Lakes to the State and the need to protect the Straits, the environment and people. As part of its thorough maintenance [Read more]
Canadian Natural Resources Limited prices US$1.1 billion in 5 and 10 year notes
CALGARY, Alberta - Canadian Natural Resources Limited ("Canadian Natural" or the “Company”) announces that on June 22, 2020, the Company priced the following US$ unsecured notes: Note / Coupon Principal Maturity Price per Note Yield to Maturity 5 year / 2.05% US$600,000,000 July 15, 2025 US$99.832 2.085% 10 year / 2.95% US$500,000,000 July 15, 2030 US$99.955 2.955% The offering is targeted to close on June 24, 2020, subject to customary closing conditions. [Read more]
Co-op, Unifor ratify new seven-year contract after six-month labour dispute
REGINA - Hundreds of workers at Regina's Co-op oil refinery complex will be returning to work after ratification of a tentative contract. The agreement brings an ends to a six-month labour dispute that began after refinery owner Federated Co-operatives Ltd. locked out more than 700 workers last December following a strike vote. The company says the new contract is a seven-year deal and that employees will return to work in the coming weeks. Unifor Local 594 had encouraged members to [Read more]
Ranch Energy failure more than doubles B.C.’s inventory of orphan wells
CALGARY - The number of orphan wells in British Columbia has more than doubled thanks to the failure of one oil and gas company. The BC Oil and Gas Commission says it has designated 401 wells and three facilities formerly owned by Calgary-based Ranch Energy as orphans, which means there is no owner willing or able to restore those sites. The provincial agency says the wells take B.C.'s list of orphan sites to a total of 770, although 56 of those sites are substantially restored. Ranch [Read more]
Gibson Energy announces $650 million medium term note offering and redemption of $600 million senior unsecured motes due 2024
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta - Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today that it will issue $650 million of senior unsecured medium term notes (the "Offering") consisting of $325 million of 2.45% notes with a maturity date of five years from the date of issue and $325 million of 2.85% notes with a maturity date of seven years from the date of issue. The Offering is expected to close on or about July 14, [Read more]
Prairie Storm Energy Corp. announces change in ownership
CALGARY, AB - Prairie Storm Energy Corp. ("Prairie Storm" or the "Corporation") wishes to announce that a group of investors comprised of management, directors and employees of Prairie Storm ("Insiders") and certain other investors external to the Corporation ("New Investors") have completed the purchase of all of the issued and outstanding shares of the Corporation that were not owned by Insiders. With the closing of this transaction all of the issued and outstanding shares of Prairie Storm are [Read more]
Oil edges up on tighter supply, but demand worries limit gains
Oil prices nudged higher on Monday on tighter supplies from major producers, but a record rise in global coronavirus cases raised concerns a recovery in fuel demand could stall, checking gains. U.S. crude was at $39.93 a barrel, up 39 cents, or 1.01%. Brent crude rose 26 cents, or 0.62%, to $42.16 a barrel. Both contracts rose about 9% last week and Brent crude futures have flipped into backwardation, where oil for immediate delivery costs more than supply later, usually an indication [Read more]