OTTAWA - A new report from the parliamentary budget officer says the federal government could end up losing money on the Trans Mountain pipeline if it further tightens its climate policy. The federal government bought the pipeline, and the unfinished work to increase its capacity by twinning it, in August 2018 for $4.4 billion. The Liberals haven't been able to find a buyer for the pipeline from Alberta to the West Coast, and instead are paying for its expansion. The budget officer says [Read more]
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Column: The problem isn’t fake news, it’s abandonment of news – here’s how to fix it
Last month, a man named Adolph Hitler Uunona was vigorously elected in a Namibian regional election. The result is not as bad as it might appear at a glance; Namibia was colonized by Germany early last century, the place had a German presence heavier than schnitzel, and his father “probably didn’t understand what Adolph Hitler stood for.” In a poignant bit of statesman oratory, the newly elected official soothed the world: “It doesn’t mean I’m striving for world domination.” Thanks to brave [Read more]
Oil holds as gloom grows over soaring COVID-19 cases, lockdowns
Oil prices maintained support on Tuesday, holding gains from the previous session that came as California tightened its pandemic lockdown through Christmas, and coronavirus cases continued to surge in the United States and Europe. U.S. West Texas Intermediate (WTI) crude futures fell 10 cents or 0.2%, to $45.53 a barrel. Brent crude futures rose 5 cents, or 0.1%, to $48.64 a barrel. Globally, a sharp rise in coronavirus cases has led to a string of renewed lockdowns, including strict [Read more]
Pipestone Energy Corp. announces new 50 MMcf/d gas processing and associated condensate handling arrangement with Veresen Midstream
CALGARY, Alberta - (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to announce it has entered into an agreement with Veresen Midstream LP (“Veresen Midstream”) for an additional 50 MMcf/d of gas processing capacity at the Veresen Midstream Hythe Gas Plant (“Hythe”), as well as ancillary transportation and fractionation services with Pembina Pipeline and certain of its affiliates (“Pembina”). This arrangement with Veresen Midstream aligns with the Company’s [Read more]
Enbridge announces 2021 financial guidance, increases dividend, and provides update on strategic priorities
CALGARY, AB - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) announced its 2021 financial guidance and dividend and provided an update on its strategic priorities, which will be further discussed at the Company's virtual investor conference today. Highlights Re-affirmation of 5-7% average long-term annual distributable cash flow (DCF) per share growth outlook, based on an equity self-funded model The Company expects full-year 2020 DCF per share to be near the [Read more]
TC Energy establishes at-the-market equity program
CALGARY, Alberta – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or Company) today announced that it has established an at-the-market equity program (ATM Program) that allows the Company to issue common shares from treasury (Common Shares) having an aggregate gross sales price of up to $1.0 billion, or its U.S. dollar equivalent, to the public from time to time, at the Company’s discretion, at the prevailing market price when sold through the Toronto Stock Exchange (TSX), the New York Stock [Read more]
MEG Energy announces 2021 capital investment plan and operational guidance
CALGARY, AB - MEG Energy Corp. (TSX: MEG) ("MEG" or the "Corporation") announced today its 2021 capital investment plan and operational guidance. Highlights include: 2021 capital budget of $260 million, expected to be fully funded within internally generated 2021 cash flow; 2021 production guidance of 86,000 to 90,000 barrels per day (bbls/d); and 2021 non-energy operating costs and general and administrative ("G&A") expense guidance of $4.60 to $5.00 per barrel and $1.70 to [Read more]
Gibson Energy announces 2021 capital budget
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta - Gibson Energy Inc. announced today its outlook for growth capital expenditures in 2021 of up to $200 million. Projects currently sanctioned by the Board of Directors, or with strong line of sight thereto, comprise approximately two-thirds of that figure. Additionally, the Board of Directors has approved the allocation of between $25 million and $30 million in replacement capital expenditures in 2021. “While [Read more]
Heavy discount narrows slightly, trading in tight range
Canadian heavy crude's discount versus West Texas Intermediate (WTI) narrowed slightly on Monday, trading in a tight 15-cent-per-barrel range: Western Canada Select (WCS) heavy blend crude for January delivery in Hardisty, Alberta, traded at $12.25 per barrel below WTI, according to NE2 Canada Inc, a tad lower than Friday's settlement of $12.30 under. Demand for WCS looks to remain slack during the trading cycle with refinery operating rates below normal due to the pandemic hitting fuel [Read more]
U.S. natgas futures slide over 6% on milder weather, higher output
U.S. natural gas futures dropped more than 6% to a two-month low on Monday, weighed down by forecasts for warmer-than-usual weather that could result in lower heating demand over the next two weeks amid steady rise in production. Front-month gas futures for January delivery fell 17.5 cents, or 6.8%, to $2.400 per million British thermal units by 2:14 p.m. EST (1914 GMT), after touching its lowest since Oct. 2 at $2.381 earlier in the session. "The weather outlook for the rest of December [Read more]