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]
Headlines
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]
Woodfibre LNG signs second BP deal for British Columbia LNG plant
Canadian liquefied natural gas developer Woodfibre LNG said Thursday it signed a second agreement to sell LNG from its proposed export plant in British Columbia to a unit of oil major BP PLC. That puts the plant a step closer to getting built in a market that has seen some cancellations in recent months but not many new projects. Woodfibre said it will sell 0.75 million tonnes per annum (MTPA) of LNG to BP's BP Gas Marketing Ltd over 15 years on a free on board (FOB) basis. This latest [Read more]
Canada Energy Regulator issues monetary penalty to Trans-Northern Pipelines Inc.
CALGARY, Alberta - Today the Canada Energy Regulator (CER) released full details of its $40,000 Administrative Monetary Penalty to Trans-Northern Pipelines Inc. (TNPI), the maximum amount based on the facts of this case. The company had received multiple notices of non-compliances and enforcement actions related to contaminated sites, and issuing this fine was the next step in our effort to bring the company into compliance. This is the second financial penalty issued to TNPI in less than 10 [Read more]
Dan McTeague discusses net zero implications in House of Commons Committee
Net Zero-who will profit and who's going to end up with net zero in their pockets Dan McTeague knows Canadian industry, the need for affordable energy, and the role of taxation in building sound economic policy. He is the president of Canadians for affordable energy, a businessman, and former liberal federal MP with an 18-year career in parliament where among many roles he served as the vice-chair of the Standing Committee on Industry for 12 years. He spoke with the BOE report about his [Read more]
Line 3 and Line 5 pipelines in U.S. ‘absolutely critical,’ says Enbridge CEO
CALGARY - The CEO of Enbridge Inc. says the company's Line 3 and Line 5 pipelines in the United States are "absolutely critical" as each faces ongoing hurdles thrown up by environmental, political, and other opponents. During the Calgary-based energy infrastructure company's annual general meeting on Wednesday, Al Monaco said Enbridge must continue to fight for those pipelines for its benefit as well as the benefit of the shippers who move products on them and the consumers who need those [Read more]
Greg Vogelsang joins Edge as Senior VP – Environmental Services and will run newly formed Edge Engineering and Geoscience Ltd
Edge Liability Risk Management is happy to announce the appointment of Greg Vogelsang, P.Eng., P.Geo., FEC, FGC, as Senior Vice President - Environmental Services effective May 1, 2021. Mr. Vogelsang is a registered Professional Geoscientist and Professional Engineer with 30 years of professional experience related to environmental management and geoscience. He has extensive experience with the government of Saskatchewan – Ministry of Environment as a Senior Manager and has practised for over [Read more]
Kelt reports financial and operating results for the three months ended March 31, 2021
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") reports its financial and operating results to shareholders for the first quarter ended March 31, 2021. The Company's financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended March 31 (CA$ thousands, except as otherwise indicated) 2021 2020 % Petroleum and natural gas sales 59,835 70,918 -16 Cash provided by [Read more]