U.S. energy firms this week reduced the number of oil rigs operating for a second week in a row as independent producers cut spending as record crude production weighs on the outlook for energy prices. Drillers cut five oil rigs in the week to Nov. 1, bringing the total count down to 691, the lowest since April 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. In the same week a year ago, there were 874 active rigs. The oil rig [Read more]
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Tidewater Announces Closing of the Acquisition of the Prince George Refinery and Third Quarter, 2019 Earnings Call Details
Tidewater Midstream and Infrastructure Ltd. ("Tidewater") (TSX:TWM) is pleased to announce that it has closed its previously announced acquisition of Husky Energy's light oil refinery ("PGR") located at Prince George, British Columbia (the "Acquisition"). In conjunction with the Acquisition, Tidewater has also closed the previously announced: expansion of its credit facility from $350 million to $600 million; and, $100 million second lien term loan through ATB Financial, which loan is [Read more]
Pengrowth Energy to be acquired by Cona Resources for C$740 mln
Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Cona Resources Ltd. (the “Purchaser”), a portfolio company of Waterous Energy Fund, pursuant to which the Purchaser has agreed to repay the outstanding principal amount and accrued interest to the date of the Arrangement Agreement owing under the Company’s credit facility (the “Credit Facility”) and [Read more]
TC Energy announces $1.2 Billion West Path Delivery Program
CALGARY, Alberta, Nov. 01, 2019 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) today announced the West Path Delivery Program, a combined $1.2 billion expansion of its NOVA Gas Transmission Ltd. (NGTL) and Foothills Systems, which will connect with the US$335 million GTN XPress Project recently announced by TC PipeLines LP, to deliver the volumes to downstream markets. “The West Path Delivery Program, along with the GTN XPress Project, further enhances [Read more]
PNG Exchange New Properties
Here are a few of the newest properties available on PNG Exchange: Lynx Energy | Wheatland, AB Canlin Energy Corporation | Saskatchewan Fee Lands Gryphon Petroleum Corporation | Chigwell East Duvernay Canadian Natural Resources | Noel, BC Forge Oil & Gas Limited | Bonnie Glen Shallow Gas ___________ PNG Exchange provides landmen, geologists and other oil and gas professionals a platform for acquiring or disposing properties. PNG Exchange offers the quickest and most [Read more]
Imperial announces third quarter 2019 financial and operating results
Imperial Oil Limited (TSX:IMO): Net income of $424 million; cash generated from operations of nearly $1.4 billion Highest third quarter production in 30 years at 407,000 gross oil-equivalent barrels per day Returned $512 million to shareholders through share purchases and dividends Third quarter Nine months millions of Canadian dollars, unless [Read more]
Is now the time to renounce your US citizenship?
The United States is one of the only countries in the world to tax based on citizenship, which means if you’re a US citizen living outside the United States, you still have yearly IRS tax filing obligations. These tax filing obligations can be an expensive annual hassle (even if you owe no tax), and may even result in double taxation. Fortunately, properly renouncing your US citizenship can provide a way out. Our free seminar covers the following topics of interest: Why do people [Read more]
TC Energy reports strong third quarter financial results
Well positioned to fund $30 billion capital program without additional common equity TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced net income attributable to common shares for third quarter 2019 of $739 million or $0.79 per share compared to net income of $928 million or $1.02 per share for the same period in 2018. Comparable earnings for third quarter 2019 were $970 million or $1.04 per common share compared to $902 million or $1.00 per common share in 2018. [Read more]
Baytex Announces Third Quarter 2019 Financial and Operating Results
Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three and nine months ended September 30, 2019 (all amounts are in Canadian dollars unless otherwise noted). Strong operating performance has continued across our asset base during the third quarter. We continue to drive cost and capital efficiencies, stable production and substantial free cash flow. Given our year-to-date results, we expect to exceed our 2019 full-year annual production guidance [Read more]
Advantage Announces Third Quarter 2019 Operating & Financial Results
CALGARY, Oct. 31, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce solid third quarter 2019 results and the fifth consecutive quarter of increasing liquids production. Development is proceeding as planned on Advantage's significant Montney oil and liquids assets, and exposure to light oil and condensate revenue continues to increase. The Corporation's measured delineation program also resulted in the discovery of a light oil pool on our 50 net [Read more]