CALGARY - Enbridge Inc. says a number of unusual factors boosted its second-quarter profit to $1.74 billion, while operations also performed well amid strong demand for transporting crude oil through its pipeline systems. Net income attributable to common shares of the Calgary-based company was 86 cents per share. That was up from $1.07 billion or 63 cents per share in last year's second-quarter, which also included unusual items. Enbridge's adjusted earnings and revenue [Read more]
Headlines
Imperial announces second quarter 2019 financial and operating results
CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSX:IMO): Net income of $1,212 million, including a $662 million benefit from the Alberta corporate tax rate change Highest second quarter production in over 25 years, including record second quarter production at Kearl Cash generated from operations of $1 billion; $2 billion in the first six months, the highest since 2014 Returned $515 million to shareholders; renewed share purchase program for another [Read more]
Enbridge to solicit bids for Mainline
Canadian pipeline company Enbridge Inc said on Friday it would invite bids for contracted space on its Mainline system, in the face of opposition from some oil shippers who worry the changes could disadvantage small producers.The Mainline ships 2.85 million barrels per day of crude from Alberta in Canada to the United States, making it Canada's biggest network of export pipelines. Currently, shippers nominate barrels on a monthly basis, but Enbridge is proposing to switch to a system in [Read more]
ExxonMobil Earns $3.1 Billion in Second Quarter 2019
Upstream liquids production grows by 8 percent from a year earlier, driven by the Permian Basin Guyana resource estimate increases to over 6 billion oil-equivalent barrels; Liza Phase 1 nears startup U.S. Gulf Coast steam cracker exceeds design capacity by 10 percent, less than a year after startup August 02, 2019 07:30 AM Eastern Daylight Time IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation [Read more]
Oil prices rebound after Trump trade tariffs trigger plunge
Oil prices rose more than 2% on Friday, rebounding from their biggest falls in years after U.S. President Donald Trump imposed more tariffs on Chinese imports, intensifying the trade war between the world's two biggest economies and crude consumers. Brent crude futures slumped more than 7% on Thursday, their steepest drop in more than three years. U.S. West Texas Intermediate (WTI) crude futures fell nearly 8%, posting its worst day in more than four years, The collapse ended a fragile [Read more]
Advantage Announces Second Quarter 2019 Operating & Financial Results
CALGARY, Aug. 1, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce solid operating and financial results for the second quarter of 2019 with liquids production growth of 142%, strong market diversification gains of $16 million and continued low costs. The Corporation's second quarter operational highlights were substantially reported in our press release dated July 8, 2019 and included successful liquids-rich well results, commissioning of a [Read more]
Crew Energy Inc. Announces Second Quarter 2019 Financial and Operating Results Highlighted by 36% Increase in Condensate Volumes Year-Over-Year
CALGARY, Aug. 1, 2019 /CNW/ - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") is pleased to announce our operating and financial results for the three and six month periods ended June 30, 2019. Crew's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and six month periods ended June 30, 2019 are available on Crew's website and filed on SEDAR at www.sedar.com. Q2 2019 HIGHLIGHTS Ultra Condensate-Rich ("UCR") Montney [Read more]
Bonavista Energy Corporation Announces 2019 Second Quarter Results
CALGARY, Aug. 1, 2019 /CNW/ - Bonavista Energy Corporation ("Bonavista") is pleased to report to shareholders its financial and operating results for the three and six months ended June 30, 2019. In the second quarter of 2019, we generated adjusted funds flow of $40.5 million, allocating $35.3 million to our exploration and development program. The financial statements and notes, as well as management's discussion and analysis, are available on the System for Electronic Document Analysis and [Read more]
Alberta hires former journalist to devise fight-back plan against energy foes
CALGARY - The Alberta government has hired a former journalist to develop a plan to fight back against oil and gas industry foes. Claudia Cattaneo retired last year as the National Post's western business columnist based in Calgary. Energy Minster Sonya Savage says Cattaneo has joined "the fight against lies and myths being spread about Alberta's energy industry." The United Conservative government's so-called fight-back strategy includes rebutting critics through a [Read more]
Pembina Pipeline Corporation Reports Second Quarter Results
Pembina's integrated and diverse business model continues to deliver strong results All financial figures are in Canadian dollars unless noted otherwise. CALGARY, Aug. 1, 2019 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the second quarter of 2019. Financial and Operational Overview 3 Months Ended June 30 6 Months Ended June 30 ($ millions, except where [Read more]