The start date for Enbridge Inc's C$8.2 billion ($6.52 billion) Line 3 pipeline replacement project is uncertain and could be as late as November 2019, the company said on Tuesday. The Alberta-Wisconsin Line 3 and other North American energy infrastructure projects are facing increasing opposition from environmentalists, aboriginal groups and local governments. The company has said the new Line 3, which replaces an aging one, would start shipping oil in the second half of 2019. "Until [Read more]
Headlines
Cardinal Energy Ltd. Announces Its 2018 Capital Budget and Monthly Dividend for December
CALGARY, Alberta, Dec. 12, 2017 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. (TSX:CJ) ("Cardinal" or the "Company") announced today that its Board of Directors has approved a capital expenditure budget for 2018 that focuses on maintaining a sustainable dividend and development of our existing asset base. The 2018 capital budget is designed to achieve significant growth in adjusted funds flow per share and maintaining the Company's annualized dividend at $0.42/share. Cardinal would also like to [Read more]
Forties pipeline outage is a gift to U.S. oil exporters, others: Russell
The shutdown of Britain's largest crude oil pipeline is an early Christmas gift to U.S. exporters shipping to Asia, and a complication for Middle Eastern and African producers seeking to maintain market share in the world's top importing region. The Forties Pipeline System, which carries about 450,000 barrels per day (bpd) from the North Sea to Scotland, may be closed for several weeks for unscheduled repair work, operator Ineos said on Monday. Forties crude is the largest of the five [Read more]
Canadian Natural Resources Limited Announces Management Promotions
CALGARY, ALBERTA--(Marketwired - Dec. 12, 2017) - Canadian Natural Resources Limited ("Canadian Natural" or the "Company") (TSX:CNQ)(NYSE:CNQ) today announces a number of management promotions positioning it for the continued evolution of growth in both our long life, low decline assets and our low capital exposure assets. These changes strengthen Canadian Natural's ability to deliver the next stage of value growth. One of Canadian Natural's many strengths is our strong and deep leadership [Read more]
Advantage Oil & Gas Ltd. Announces 2018 Budget
Increased Focus on Liquids Development & Growth Driven by Strong Well Results Underpins 2018 Cash Flow Funded Capital Budget (TSX: AAV, NYSE: AAV) CALGARY, Dec. 11, 2017 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce that its Board of Directors has approved a 2018 capital budget of $175 million funded through cash flow that prudently advances our industry leading low cost Montney development and results in increasing liquids production growth [Read more]
Tourmaline Achieves 2017 Exit Production Target Early and Announces Multiple Strong Well Results From All Three Operated Complexes
CALGARY, Dec. 11, 2017 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to provide an update on 2017 exit production and EP results. PRODUCTION UPDATE Tourmaline achieved its 2017 exit production target of 270,000 boepd on December 1. Current production is 277,000 boepd; further EP activities in December are expected to grow production to levels in excess of 280,000 boepd by the end of the month. The Company continues to forecast 2018 full-year average [Read more]
TORC Oil & Gas Ltd. Announces 2018 Capital Budget and Production Guidance; a Series of Tuck-In Acquisitions; and Increased 2017 Guidance
CALGARY, Dec. 11, 2017 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce the Company's Board of Directors has approved a 2018 capital budget of $165 million. TORC's strategic objectives associated with the 2018 capital budget are consistent with the Company's long term objectives of delivering disciplined per share growth in combination with maintaining financial flexibility while paying a sustainable dividend. TORC's 2018 capital budget is [Read more]
MNP Ltd – COGI Receivership Sale
MNP Ltd. was appointed as receiver and manager (the “Receiver”) of all of the assets, properties and undertakings of COGI Limited Partnership, Canadian Oil & Gas International Inc. Conserve Oil Group Inc. and Conserve Oil 1st Corporation (collectively “COGI” or the “Company”) pursuant to orders of the Court of Queen’s Bench of Alberta. In November 2016, a process to sell the oil and natural gas assets of COGI was undertaken. Subsequent to the sales process, certain oil and natural gas [Read more]
Pulse Oil Corp. Announces Increased Production and Strategic Land Acquisition
CALGARY, Dec. 11, 2017 /CNW/ - Pulse Oil Corp. ("Pulse" or the "Company") (TSX-V: PUL) announces the Pulse team has begun the process of re-establishing shut-in production from Pulse's recently acquired strategic Bigoray area assets (Pulse 100% Working Interest). Current daily production for Pulse has increased from approximately 70 BOE/D to more than 300 BOE/d (84% oil) with the initiation of Pulse's planned reactivation program. Pulse expects these mature, long-life wells to further [Read more]
Enbridge Announces Closing of $500 Million Preferred Share Offering, Inclusive of the Exercise of Underwriters’ Option
CALGARY, Dec. 11, 2017 /CNW/ - Enbridge Inc. (TSX:ENB) (NYSE:ENB) (Enbridge or the Company) today announced that it has closed its previously announced public offering (the Offering) of Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 19 (the Series 19 Preferred Shares) through a syndicate of underwriters led by Scotiabank, BMO Capital Markets, CIBC Capital Markets and National Bank Financial. Enbridge issued 20 million Series 19 Preferred Shares, inclusive of 4 million Series [Read more]