CALGARY, AB - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce it has entered into a non binding letter of intent with Tamarack Valley Energy Ltd. ("Tamarack") for the purchase of royalty interests which includes a minimum capital development commitment (the "Royalty Acquisition"). The Royalty Acquisition provides free cash flow growth and diversification for Topaz while enabling Tamarack to advance its own growth; demonstrating Topaz's growth strategy of acquiring [Read more]
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Highwood Oil Company Ltd. announces disposition of Clearwater assets for $40.8 million in cash
CALGARY, AB - Highwood Oil Company Ltd., ("HOCL", "Highwood" or the "Company") (TSXV: HOCL) is pleased to announce that, as a result of its strategic alternatives review process, it has today entered into a definitive agreement with an arm's length purchaser, Tamarack Valley Energy Ltd. ("Tamarack") to divest of the Company's Clearwater assets for cash consideration of $40.8 million (the "Divestiture"). The effective date of the Divestiture is November 1, 2020. The Divesture is expected to [Read more]
Tamarack Valley Energy announces strategic Clearwater oil acquisitions, $47 million equity financing and preliminary 2021 guidance
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce two strategic acquisitions (together, the "Acquisitions") which will establish a significant consolidated and operated position in the Clearwater oil play in the Greater Nipisi area along with interests in the Jarvie area of Alberta for a total net purchase price of $74.0 million, after deducting the proceeds from the sale of a 2% newly created gross overriding royalty (the "GORR [Read more]
Pembina Pipeline Corporation announces 2021 guidance and provides business update
All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"), which is a financial measure that is not defined by Generally Accepted Accounting Principles ("GAAP"). For more information see "Non-GAAP Measures" herein. CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) is pleased to provide its 2021 [Read more]
Pembina plans $785M in capital spending for 2021, restarts work on two key projects
CALGARY - Pembina Pipeline Corp. is planning $785 million in capital spending next year as it moves to restart work on two key projects. The company says it will resume construction of the next phase of its Peace Pipeline expansion and go ahead with the restart of its Empress co-generation facility. The pipeline expansion includes a new pipeline and associated infrastructure in the LaGlace-Valleyview-Fox Creek corridor in Alberta. Pembina says the initial capacity has been reduced to [Read more]
Oil prices rise on vaccine hopes, ship explosion at Saudi Arabia
Oil prices rose on Monday, pushing Brent back above $50 a barrel, buoyed by hopes that a rollout of coronavirus vaccines will lift global fuel demand while a tanker explosion in Saudi Arabia jangled nerves in the market. U.S. West Texas Intermediate crude futures for January were up 9 cents, or 0.2%, at $46.63 a barrel. Brent crude futures for February rose 0.05 cents, or 0.14%, to $50.00 a barrel. Prices also extended gains amid supply jitters after a shipping firm said its oil tanker [Read more]
Ottawa’s New Climate Plan- a mischaracterization of Canada’s energy sector
On Friday, the Canadian government announced their new climate plan using language that many say mischaracterizes Canada’s record for GHG reduction and Canada’s successes in developing technology and initiatives for decarbonization. The plan includes steady increases to the carbon tax by up to $15 a ton in each of the next 10 years to reach $170 a ton and some insiders indicate there may be an assumption in the wording that the tax might continue to go up after 2030. The plan instantly [Read more]
Headwater Exploration Inc. announces 2021 capital budget
CALGARY, AB - Headwater Exploration Inc. ("Headwater" or the "Company") (TSX: HWX) announces that the Company's board of directors (the "Board") has approved a 2021 capital budget of $85 - $90 million designed to provide December 2020 to fourth quarter average 2021 production growth of approximately 125%. The approved budget is expected to leave Headwater with a working capital surplus of approximately $45 million at the end of 2021. 2021 GUIDANCE SUMMARY Average Daily [Read more]
ExxonMobil announces emission reduction plans; expects to meet 2020 Goals
Greenhouse gas plans consistent with goals of Paris Agreement Sets 2025 greenhouse gas emission reduction plan: intensity of upstream emissions to drop by 15-20%; methane intensity by 40-50%; flaring intensity by 35-45% Aims for industry-leading greenhouse gas performance across its businesses by 2030 Plans to eliminate routine flaring by 2030; provide Scope 3 emissions beginning in 2021 Anticipates meeting 2020 methane and flaring reductions IRVING, Texas - ExxonMobil said today [Read more]
Pembina Pipeline Corporation announces 2021 guidance and provides business update
All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"), which is a financial measure that is not defined by Generally Accepted Accounting Principles ("GAAP"). For more information see "Non-GAAP Measures" herein. CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) is pleased to provide its 2021 [Read more]