Three of Enbridge's pipelines were shut following a fire on the company's Line 10 segment of its Texas Eastern Natural Gas System, in Fleming County, Kentucky on May 4, the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Friday. The company said on Thursday there was no estimated timeline to return its Line 10 to service. The PHMSA has deployed an investigator to the site of the incident, a PHMSA spokesperson said. No injuries were reported in the fire, which [Read more]
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Oil rises as coronavirus curbs ease, setting stage for demand boost
Oil prices gained on Friday as more countries began relaxing restrictions put in place to halt the coronavirus pandemic, raising hopes that demand for crude and its products will start to pick up. U.S. oil gained 45 cents, or 1.9%, to $25.37 a barrel, after a decline of nearly 2% in the previous session. Brent crude was up by 42 cents, or 1.4%, at $29.88 a barrel by 0447 GMT, having fallen nearly 1% on Thursday. Both contracts are heading for a second week of gains after the lows of [Read more]
Return Energy Inc. (to be renamed Spartan Delta Corp.) announces completion of upsized equity financing
CALGARY, Alberta - Return Energy Inc. d.b.a. Spartan Delta Corp. ("Spartan" or the "Company") (RTN: TSXV) is pleased to announce that it has closed its previously announced non-brokered equity financing. The Company has issued 2,945,500,000 subscription receipts (the "Subscription Receipts") at a price of $0.02 per Subscription Receipt for aggregate gross proceeds of $58.91 million (the "Subscription Receipt Offering"). In addition, the Company has entered into irrevocable subscription [Read more]
Enerplus announces first quarter 2020 results
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 2020 Financial Statements and MD&A are available on the Company's [Read more]
Ovintiv reports first quarter financial and operating results
Flexibility Enables Dynamic Response to Preserve Financial Strength Significant Cost Savings and Capital Efficiencies Enhance 2020 and 2021 Actions Taken in Response to Current Low Oil Price Environment: Second quarter planned capital investments reduced 60%. Company doubles its initial estimate of 2020 cash cost savings to $200 million, majority durable into future years. Completed well costs expected to be 20% better than 2019, driven by sustainable efficiency gains. 2021 [Read more]
Pembina Pipeline Corporation reports first quarter results
First quarter results reflect the resilience of Pembina's diversified and integrated business All financial figures are in Canadian dollars unless noted otherwise. CALGARY - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the first quarter of 2020. Financial and Operational Overview 3 Months Ended March 31 ($ millions, except where [Read more]
Crew Energy Inc. announces first quarter 2020 financial and operating results
CALGARY - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") today announces our operating and financial results for the three month period ended March 31, 2020. Crew's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three month period ended March 31, 2020 are available on Crew's website and filed on SEDAR at www.sedar.com. Q1 2020 HIGHLIGHTS Production of 23,894 boe per day: Volumes were 6% higher than Q4/19 and 3% higher than [Read more]
Cardinal Energy Ltd. announces first quarter 2020 financial results
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to announce its operating and financial results for the first quarter ended March 31, 2020. Selected financial and operating information is shown below and should be read in conjunction with Cardinal's unaudited condensed interim financial statements and related Management's Discussion and Analysis for the three months ended March 31, 2020 which are available at www.sedar.com and on our website at [Read more]
Baytex announces first quarter 2020 financial and operating results
CALGARY, Alberta - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three months ended March 31, 2020 (all amounts are in Canadian dollars unless otherwise noted). “As an industry, we are facing an unprecedented challenge due to the effects of COVID-19 and the significant degradation and volatility in global crude oil prices. In response, Baytex has moved to ensure the safety and health of our people and to maintain liquidity, minimize capital [Read more]
Inter Pipeline warns of higher costs, delays for Alberta petrochemical project
CALGARY - Inter Pipeline Ltd. is warning that the cost of building its Heartland Petrochemical Complex has risen by about half a billion dollars and its in-service date may be delayed due to factors including the impact of the COVID-19 pandemic. When announced in December 2017, the cost of the plant northeast of Edmonton designed to convert plentiful Alberta propane into polypropylene plastic pellets for export to manufacturers was estimated at $3.5 billion. The Calgary-based company says [Read more]