CALGARY, AB - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce its financial and operating results for the quarter and year ended December 31, 2020, and its year-end 2020 reserves, as independently evaluated by Sproule Associates Limited ("Sproule"). 2020 FINANCIAL, OPERATIONAL, AND RESERVES HIGHLIGHTS Achieved an all-in payout ratio1 of less than 100 percent for 2020 while oil averaged less than US$40 WTI per barrel, generating cash flow from operating [Read more]
Headlines
Alberta’s Toews says final bill on defunct Keystone XL not ‘materially’ above $1.3B
EDMONTON - Alberta’s finance minister says taxpayers won’t be on the hook for much more beyond $1.3 billion already committed to the defunct Keystone XL pipeline. Travis Toews did not provide specifics on the final amount when speaking today to a budget review committee. But he says he doesn't expect taxpayers’ exposure will be, in his words, “materially” much more than what has been spent. Premier Jason Kenney and his United Conservative government had committed $1.5 billion and $6 [Read more]
Canada celebrates Enhance Energy’s and Alberta Carbon Trunk Line’s major carbon transportation and storage milestone
CALGARY, AB - Innovation and the continued development of clean technologies will help to drive our economy, reduce our environmental impacts and create jobs. This will be more important than ever as we work toward our recovery from the COVID-19 pandemic. Canada's Minister of Natural Resources, the Honourable Seamus O'Regan Jr., today celebrated the milestone of permanently storing one-million tonnes of carbon dioxide (CO2) through the Alberta Carbon Trunk Line (ACTL), the world's largest [Read more]
Energy regulator invites comment on Trans Mountain pipeline’s insurer secrecy request
CALGARY - The Canada Energy Regulator is inviting public comment on a request by the operator of the Trans Mountain pipeline to protect the identity of its insurers, with the comment period extending beyond the requested deadline. In an online post, the federal regulator says it will accept comments on the proposal from the public until March 22 and Trans Mountain will be able to file reply comments until March 25. In its initial filing in February, the federal government-owned pipeline [Read more]
New Government of Canada online platform will improve understanding of impacts on environment
OTTAWA, ON - Even during a pandemic, Canada continues to strengthen the economy while protecting and conserving our natural environment, supporting our natural resource sectors and mitigating the impacts of climate change. Increasing our understanding of the long-term cumulative effects from human activities is essential in making decisions that impact our future well-being. This is why Natural Resources Canada, in partnership with Environment and Climate Change Canada, has launched the [Read more]
SECURE Energy Services Inc. and Tervita Corporation merge to create a stronger midstream infrastructure and environmental solutions business
CALGARY, AB - SECURE Energy Services Inc. ("SECURE") (TSX: SES) and Tervita Corporation ("Tervita") (TSX: TEV) are pleased to announce a transaction to create a stronger midstream infrastructure and environmental solutions business that is expected to provide enhanced free cash flow generation resulting from greater scale and significant annual integration cost savings of $75 million, unlocking value for all shareholders. The combined company will have an implied total enterprise value of [Read more]
New pricing structure for Saskatchewan’s accelerated site closure program from Innovative Well Abandonment
Innovative Well Abandonment, a hydrojet cut and cap company with offices across Western Canada, is pleased to announce that they have negotiated a sliding price structure for Phase 2 of the Accelerated Site Closure Program (ASCP) in Saskatchewan. "We are excited to be able to offer a sliding price structure for Phase 2 of the Accelerated Site Closure Program", says Scott Bowes, President of Innovative Well Abandonment. "This new pricing structure will allow companies to save costs on their [Read more]
Inter Pipeline board of directors unanimously recommends shareholders reject Brookfield’s hostile bid
CALGARY, AB - Inter Pipeline Ltd. ("Inter Pipeline" or the "Company") (TSX: IPL) today announced that the Board of Directors (the "Board") has unanimously determined that Brookfield's hostile takeover bid (the "Hostile Bid") is not in the best interests of the Company or its shareholders ("Shareholders"). The Board's determination followed careful consideration, including advice from its financial and legal advisors, and the recommendation of a Special Committee of independent directors. [Read more]
Oil prices steady on expected economic recovery, likely drawdown in oil stocks
Oil prices remained steady on Tuesday on expectations of a recovery in the global economy after U.S. Senate approval of a $1.9 trillion stimulus bill and on a likely drawdown in crude oil inventory in the United States. But a stronger dollar and receding fears of oil supply disruption from Saudi Arabia after an attack on its oil facilities capped price gains. U.S. West Texas Intermediate (WTI) crude for April dipped 10 cents, or 0.16%, to $64.52. Brent crude futures for May dropped 2 [Read more]
WATCH: A winter without natural gas
Some people want governments to keep natural gas in the ground. Secondstreet.org examined what that would mean for everyday Canadians. https://www.youtube.com/watch?v=y1NHFljxO7E [Read more]