All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY - MEG Energy Corp. (TSX:MEG) announced today its 2020 capital investment plan and operational guidance. Highlights include: A capital budget of $250 million, to be fully funded with a portion of expected 2020 adjusted funds flow; 2020 production guidance of 94,000 to 97,000 bpd, which takes into account a planned major turnaround with an [Read more]
Headlines
Shippers shift to trucks as strike at Canada’s biggest railroad enters third day
Shippers scrambled to shift freight onto trucks on Thursday as a strike at Canada's biggest railroad, Canadian National Railway Co , entered its third day and left many goods stranded. Some 3,200 unionized employees, including conductors and yard workers, hit picket lines on Tuesday in the biggest such action in a decade. The strike, which is over working conditions, has slowed output at industrial plants making chemicals, canola oil and other products. Some major retailers and pulp and [Read more]
Receivership Sale: Trident Exploration Corp
Sayer Energy Advisors has been engaged to assist PricewaterhouseCoopers Inc. (“PwC”) in its capacity as Court-appointed receiver of Trident Exploration Corp., Trident Exploration (WX) Corp., Trident Exploration (Alberta) Corp., Trident Limited Partnership, Trident Exploration (Aurora) Limited Partnership 1, Trident Exploration (2004) Limited Partnership 1, Trident Exploration (2006) Limited Partnership 1, and Fenergy Corp. (collectively “Trident” or the “Company”) with the sale of all of the [Read more]
Alberta oil curtailments to end no later than this time next year
The premier of Alberta, Canada's top oil-producing province, said Wednesday that the end of a government-imposed curtailment on oil production could come earlier than its December 2020 sunset date. "We hope it will end by this time next year at the latest," Premier Jason Kenney told Reuters during an interview in Houston, where he met with executives from Chevron Corp , Phillips 66 , other oil pipeline and private equity firms. Alberta introduced mandatory oil production curbs on Jan. 1, [Read more]
Column: Alberta government union leadership has lost touch with reality
Leaders at the Alberta Union of Provincial Employees have completely lost touch with reality. A document obtained by the Canadian Taxpayers Federation shows the AUPE leadership started pushing the government for a 7.85 per cent wage increase early this year. The demand is so ridiculous you must see the AUPE’s document just to believe it. Given the current challenges in Alberta, any worker outside of government would likely be laughed out of the room with that kind of demand. But maybe [Read more]
Spartan Franchise Returns as Spartan Delta Corp. with the Recapitalization of Return Energy Inc.
CALGARY - Return Energy Inc. ("Return" or the "Company") (RTN: TSXV) is pleased to announce that it has entered into a definitive reorganization and investment agreement (the "Agreement") with Fotis Kalantzis and Richard F. McHardy (the "Initial Investors") which provides for: (i) a non-brokered private placement for gross proceeds of up to $25.0 million (the "Private Placement"); and (ii) the appointment of a new management team (the "New Management Team") and new board of directors (the "New [Read more]
Prairie Provident Announces Successful Princess Drilling Update
CALGARY, Alberta, Nov. 21, 2019 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("PPR" or the "Company") (TSX:PPR) announces an operational update highlighting the successful initial results from a new well in the Company’s core Princess operating area. Princess Area New Well Results PPR’s latest 102/08-04-021-11W4 well is the Company’s seventh successful Lithic Glauconite well drilled in the last two years in the Princess area. Starting November 16, 2019, the Princess well flowed for 93 [Read more]
The Pride Of The Fleet: “Eva Marie” A Boom With A Cause
Introducing “Eva Marie” our newest custom built side boom ready for work! This unit will be the first to site and the last back to the yard with 100% of the proceeds from every hour worked going to breast cancer research and individuals battling breast cancer! We would like to challenge our clients to match our donation when “Eva Marie” is on YOUR project! NTL Pipelines is a privately owned pipeline, facility and fabrication service company located in Grande Prairie Alberta, proudly servicing [Read more]
WATCH: Rex Murphy interviews Jason Kenney
Rex sits down with the Premier of Alberta to unpack the challenges facing the province and to discuss the Premier's strategies and vision to restore Canada's central economic engine. [Read more]
Encana CEO defends plan to move HQ to Denver after investor criticism
CALGARY - The CEO of Encana Corp. is firing back after Canadian investment manager Letko, Brosseau & Associates Inc. said it would vote its four per cent stake against the Calgary-based company's planned headquarters move to Denver. Doug Suttles, a Texan who lives in Denver, says the company is "disappointed" by the investor's stance against what he says is a "crystal clear" rationale to expose the company to growing pools of investment from U.S. index funds and passively managed [Read more]