CALGARY, AB, Nov. 2, 2020 /CNW/ - Highwood Oil Company Ltd. (TSXV: HOCL) ("Highwood" or the "Company") announces amendments to the Company's reserve-based credit facility (the "Credit Facility"). Credit Facility Amendment The Company's Credit Facility has been amended with the maturity date of Term Facility A extended to December 15, 2020. The Company will also continue to work with its lender to explore all options needed to satisfy the conditions of the Credit [Read more]
Headlines
Plains All American Pipeline and Plains GP Holdings report third-quarter 2020 results
HOUSTON - Plains All American Pipeline, L.P. (NYSE: PAA) and Plains GP Holdings (NYSE: PAGP) today reported third-quarter 2020 results and furnished updated 2020 guidance in addition to several other significant updates, which are highlighted below. Summary Highlights Reported net income for the quarter of $143 million Delivered third-quarter 2020 Adjusted EBITDA of $682 million Completed the sale of LA Basin Terminals (closed October 15, 2020) for approximately $200 [Read more]
TC Energy provides conversion right and dividend rate notice for Series 11 and 12 preferred shares
CALGARY, Alberta - TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy or the Corporation) announced that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 11 (Series 11 Shares) on November 30, 2020. As a result, subject to certain conditions, the holders of Series 11 Shares have the right to choose one of the following options regarding their shares: to retain any or all of their Series 11 Shares and continue to receive a fixed [Read more]
Journey Energy Inc. announces sale of assets and cost reduction initiatives
CALGARY, AB - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey" or the "Company") is pleased to announce that it has entered into definitive agreements for the sale of assets in both its Countess area (including Journey's newly commissioned 4.2 megawatt power project); and also producing assets in its Telfordville area. Total proceeds from these asset sales of approximately $15 million before closing adjustments, will be used to retire indebtedness associated with new term loans advanced [Read more]
Column: Trump is still the best choice for America (and Canada)
I realize in writing this as a Canadian some might wonder why I care so much about the politics of a foreign country. Well, as I wrote three years ago Donald Trump had delivered more positive results for the Alberta economy than our own leaders, and that has remained true today. The approval of the Keystone XL pipeline, which is now under construction, is vital to the long term hopes of our oil industry, and Joe Biden has promised to kill it and leave us stranded. Americans need a strong [Read more]
Pembina Pipeline Corporation provides notice of series 9 preferred share conversion right and announces reset dividend rates
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today that it does not intend to exercise its right to redeem the currently outstanding Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 9 ("Series 9 Shares") (TSX: PPL.PR.I) on December 1, 2020 (the "Conversion Date"). As a result, subject to certain terms of the Series 9 Shares, the holders of the Series 9 Shares will have the right to convert all or part of their [Read more]
Oil hits five month lows on renewed virus fears
Oil prices hit five-month lows and shares extended losses on Monday on worries about global demand as many economies slid back into coronavirus-induced lockdowns while upcoming U.S. presidential elections led to heightened caution. Risk appetite has taken a hit in the past week on the back of rising coronavirus cases and lockdowns, fears of the prospect of a tightly contested U.S. presidential election, absence of a pre-election U.S. fiscal stimulus and gloomy corporate outlook. Global [Read more]
Column: Exaggerated or impossible consequences of fracking oil and gas wells
Environmentalists have panicked many citizens into believing fracking is dangerous by greatly exaggerating the small risks that are associated with fracking of oil and natural gas wells. In reality, these risks are very low, just like the risks associated with other industrial activities, especially when those industrial activities are conducted competently. Many environmentalists falsely claim that banning fracking will reduce the production of oil & gas in the interests of reducing [Read more]
Obsidian Energy announces strong third quarter 2020 results driven by successful first half development program and continued improvements to our cost structure
CALGARY, AB, Nov. 2, 2020 - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") announces strong third quarter 2020 financial and operational results. Funds from Operations ("FFO") improved in the quarter as the success of our development program earlier in the year and our lower cost structure more than offset the impact of lower commodity prices, year over year. "Our strong third quarter performance is a direct result of the improvements [Read more]
Baytex announces third quarter 2020 financial and operating results and board appointment
CALGARY, Alberta - Baytex Energy Corp. ("Baytex")(TSX: BTE, NYSE: BTE.BC) reports its operating and financial results for the three and nine months ended September 30, 2020 (all amounts are in Canadian dollars unless otherwise noted). “We have made tremendous progress to re-set our business in the face of extremely volatile crude oil markets. Our third quarter results demonstrate the success of our actions as we generated free cash flow of $60 million and increased financial liquidity to $344 [Read more]