Oil prices rose on Tuesday to rreach a three-month high as investors kept the faith with hopes that a fully fledged U.S.-China trade deal is in the pipeline, set to stoke oil demand in the world's biggest economies. West Texas Intermediate crude was up 43 cents to $60.63 a barrel. Brent crude oil futures had risen by 36 cents to $65.70 a barrel, while Under a partial trade agreement announced last week, Washington will reduce some tariffs on Chinese imports in exchange for Chinese [Read more]
Headlines
Column: Confusing Steam For Methane, and Other Things to Know About the New York Times’ Latest Emissions Story
Last week, the New York Times published an article called “It’s a Vast, Invisible Climate Menace. We Made It Visible.”. The article claims to have found damning evidence of methane leaks at oil and natural gas facilities in Texas’ Permian Basin. U.S. based Energy In Depth found that the claims being made in this article were misleading at best. The accusations by the New York Times article, though found to be deceptive, could be levered by hydrocarbon opponents in Canada. However, Canada has had [Read more]
Point Loma Resources Announces Transaction Involving Asset Swap and Cash Injection for Its Wizard Lake Property
CALGARY - Point Loma Resources Ltd. (TSXV:PLX) ("Point Loma" or the "Corporation") is pleased to announce a transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta. Highlights Point Loma has entered into a Purchase and Sale agreement ("PSA") with White Bark Energy Ltd. (WBE:ASX, "White Bark"), the parent company of Salt Bush Energy Ltd. ("Salt Bush"), to transfer its working interests in the Wizard Lake area to Salt Bush for consideration of $6.8 [Read more]
AltaGas Announces 2020 Guidance, Suspension of its Dividend Reinvestment Program, and Provides an Update on its 2020 Strategic Plan
Strong earnings growth in 2020 driven by considerable growth in Utilities and Midstream businesses and significantly lower leverage CALGARY - AltaGas Ltd. (AltaGas or the Company) (TSX: ALA) announces 2020 guidance, the suspension of its Dividend Reinvestment Program (DRIP), provides an update on its 2020 strategic plan and reaffirms its 2019 guidance. HIGHLIGHTS Announced 2020 financial guidance: normalized EPS1 in the range of $1.20 - $1.30 per share and normalized EBITDA1 in the [Read more]
U.S. natgas futures rise 2% on cold forecasts for this week and in January
U.S. natural gas futures rose 2% on Monday on forecasts confirming cold weather and high heating demand this week, despite an outlook showing next week will be warmer than previously expected. Traders noted the latest weather forecast also called for a likely return of cold in January. Front-month gas futures for January delivery on the New York Mercantile Exchange (NYMEX) rose 4.5 cents, or 2.0%, to settle at $2.341 per million British thermal units, the highest since Dec. 5. That was [Read more]
Pembina Pipeline Corporation Announces Closing of Transaction, Provides 2020 Guidance and 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 - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to announce it has completed [Read more]
Trans Mountain oil pipeline faces latest legal challenge in Canada court
The Canadian government-owned Trans Mountain oil pipeline expansion faces its latest legal hurdle in a federal court this week as indigenous groups appeal the pipeline's expansion, arguing the government did not adequately consult them before approving it. A three-day hearing begins on Monday at Canada's Federal Court of Appeal in Vancouver, which agreed to hear concerns from the Coldwater Indian band, the Squamish Nation, the Tsleil-Waututh Nation and others that the government's second [Read more]
AltaGas Ltd. Closes Aggregate $500 Million Medium Term Note Offering
CALGARY - AltaGas Ltd. ("AltaGas") (TSX:ALA) today announced that it has completed its aggregate issue of $500 million of senior unsecured medium term notes (the "Notes") with a coupon rate of 2.609 percent, maturing on December 16, 2022 (the "Offering"). The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas' credit facility and for general corporate purposes. As a result, AltaGas expects that the Offering will be leverage neutral. [Read more]
Jason Kenney heads to London to promote Alberta’s energy to international markets
EDMONTON - Alberta Premier Jason Kenney heads to the UK today for a trip his office says will highlight the province's "responsible energy sector" and to counter what Kenney says is a campaign against investment in the oilsands. A news release says Kenney will speak with international business leaders and financial institutions during the three-day trip to London to "reassert investment confidence in Alberta's economy." It says the meetings will also "underscore the province's reputation [Read more]
Alberta, Ottawa head to province’s Appeal Court over carbon tax dispute
EDMONTON - About a year ago, Alberta's United Conservative Party leader stood in front of 1,500 raucous supporters and called the federal carbon tax an act of "economic masochism" that he would fight with everything in his power if he were elected premier. Jason Kenney did win the election last spring, and government lawyers are to argue today before Alberta's Appeal Court that he should win his tax fight, too. "Alberta says that this is an unwarranted and unprincipled intrusion into [Read more]