CALGARY, ALBERTA--(Marketwired - May 9, 2016) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today strong financial and operating results for the three month period ended March 31, 2016. First Quarter Highlights Generated funds from operations (FFO)* of $186 million, a five percent increase over first quarter 2015 FFO for the bulk liquid storage business segment set a new record of $31 million, an increase of 53 percent compared to the first quarter 2015 Net income [Read more]
Headlines
Effect of oil price shock still unfolding but economy coping well so far: IMF
TORONTO - Canada's economy has coped well with a shocking decline in oil prices but the country's central bank and federal government should remain prepared to do more if the need arises, an International Monetary Fund analysis released Monday has concluded.Cheng Hoon Lim, head of the IMF's annual review of Canada's economic performance, said it's too soon to calculate the impact of the Alberta wildfires that have devastated a huge area including parts of Fort McMurray."We need to see the extent [Read more]
Low oil prices, global economic uncertainty and domestic consumer debt worries weighing on Canadian economy
OTTAWA, May 9, 2016 /CNW/ - The decline in commodity prices, subpar global economic growth and overstretched Canadian consumers will limit Canada's real GDP growth to 1.6 per cent in 2016, according to The Conference Board of Canada's Canadian Outlook: Spring 2016. While modest, this is an improvement over last year's growth of 1.2 per cent. "The decline in energy prices has stripped more than $50 billion in export revenues from the economy, and it will take time to recover," said Matthew [Read more]
How OPEC’s price collusion works against them
Recent claims that the US is now a swing producer have been cast aside by many industry commentators. The ability to ’swing’ prices, requires market share, and while averaging 9 million barrels a day is no small feat, total US crude production captures a mere 11% of the global market. OPEC production, on the other hand, captures roughly 43%. By canonical economic models, OPEC is much better poised to dictate where the price of crude oil will go than will US shale producers drilling in the [Read more]
Suncor Energy provides RMWB operations update
CALGARY, ALBERTA--(Marketwired - May 8, 2016) - Suncor provides the following update regarding the situation in the Regional Municipality of Wood Buffalo (RMWB). Suncor safely moved over 10,000 people, including employees, their families and Fort McMurray residents, out of the region; shut down its RMWB operations in a controlled manner to facilitate a quick and reliable start-up and worked with government to enhance fire protection measures in the region, including building firebreaks to [Read more]
Athabasca Oil Corporation Reports 2016 First Quarter Results and Director Appointment
CALGARY, ALBERTA--(Marketwired - May 6, 2016) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or "the Company") is pleased to provide its 2016 first quarter results and an operations update. The Company continues to advance significant strategic and operational milestones in both its Light Oil and Thermal Oil divisions despite exceptionally challenging external market conditions. Q1 2016 operating and financial highlights - Corporate production averaged 13,348 boe/d (76% liquids), an [Read more]
Canadian Natural Resources Limited Announces Details of the PrairieSky Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - May 6, 2016) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces the details of the plan of arrangement (the "Arrangement") and the proposed timing of the process. Under the Arrangement, shareholders of Canadian Natural will receive 0.02 of a common share of PrairieSky Royalty Ltd. ("PSK") for each Canadian Natural common share, or a cash equivalent, depending on number of shares owned. An Interim Order has [Read more]
Marksmen Announces First Closing of Private Placement
CALGARY, ALBERTA--(Marketwired - May 6, 2016) - Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH) (OTCQB:MKSEF) is pleased to announce that it has completed the first closing of its previously announced non-brokered private placement for 11,669,280 common shares (the "Common Shares") of Marksmen at a price of $0.05 per share for aggregate gross proceeds of $583,464 (the "Private Placement"). Marksmen did not pay any commissions in connection with the first closing of the [Read more]
Fire forces Suncor to close two more plants, taking 237,000 bpd offline
CALGARY - The wildfire ripping through the Fort McMurray, Alta., area continued to set back Alberta's crude industry Friday as concerns arose that the disaster may have taken out as much as half of Canada's oilsands output.It is difficult to say with certainty how much oilsands bitumen is offline because production levels have fluctuated throughout the week and companies have not disclosed precise figures.But Nick Lupick, an oilsands analyst for AltaCorp Capital, said his latest estimate is that [Read more]
Enerplus Announces Strong First Quarter 2016 Results
CALGARY, May 6, 2016 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) is pleased to announce its results from operations for the first quarter of 2016. "We continue to position our company to deliver long-term profitability in a lower commodity price environment. Our focus on reducing costs and driving efficiencies across the organization has resulted in a meaningful reduction to our cost structure. As a result, we are reducing our combined operating, [Read more]