CALGARY, June 17, 2019 /CNW/ - Tourmaline Oil Corp. (TSX – TOU) ("Tourmaline") is pleased to announce that it intends to make a normal course issuer bid (the "NCIB") to purchase its common shares. The NCIB is subject to approval by the Toronto Stock Exchange (the "TSX"), and if approved, will be made in accordance with the applicable rules and policies of the TSX and applicable Canadian securities laws. Tourmaline intends to purchase up to 5% of its outstanding common shares over a [Read more]
Headlines
Williams Completes Formation of US$3.8 Billion Strategic Joint Venture Partnership with Canada Pension Plan Investment Board in the Marcellus/Utica Basins
Strategic partnership between Williams and CPPIB supports ongoing growth and Northeast region optimization Williams receives approximately $1.33 billion in exchange for a 35% interest in a combined Utica East Ohio Midstream-Ohio Valley Midstream joint venture TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) today announced the completion of the formation of a US$3.8 billion joint venture with Canada Pension Plan Investment Board (“CPPIB”) that includes Williams’ owned and operated Ohio [Read more]
Delphi Energy Corp. Announces Sale of a Portion of Its Excess Alliance Service and Provides Credit Facility Update
CALGARY, Alberta, June 17, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) announces the sale of a portion of its Alliance Service and an extension to its senior credit facility. SALE OF A PORTION OF EXCESS ALLIANCE FIRM TRANSPORTATION SERVICE Delphi has entered into a binding agreement to sell and permanently assign 16 mmcf/d (approximately 35 percent) of its firm full-path service to the Chicago area on the Alliance pipeline system for $11.9 million. The transaction [Read more]
Robson: The Sermon on the Carbon Tax
Oh well. The Pope has spoken. So now it’s settled. What’s that, you say? We’re giving up divorce? Abortion? Pre-marital sex? Not exactly. It’s something else the head of the Roman Catholic Church is apparently entitled to speak on with dogmatic authority and in this case to all mankind rather than just to often inattentive Catholic faithful: carbon pricing. After years of the Pope calling for drastic action on climate change, it is apparently a big news story that the Pope has issued a call [Read more]
US says video shows Iran removing mine from stricken tanker
DUBAI, United Arab Emirates - The U.S. military released a video Friday it said showed Iran's Revolutionary Guard removing an unexploded limpet mine from one of the oil tankers targeted near the strategic Strait of Hormuz, suggesting Tehran wanted to hide evidence of its alleged involvement. Iran denied any role in Thursday's apparent attacks, which have again roiled the Persian Gulf amid heightened tensions between Tehran and Washington over the unraveling nuclear deal with world [Read more]
Canada Weekly Rig Count Up 4 to 107
Western Canada’s fleet of drilling rigs went up by 4 to 104 according to data collected by Baker Hughes for the week of June 14th. Oil drilling went from 59 to 69; natural gas rigs went from 44 to 38. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs for second week in a row
U.S. energy firms reduced the number of oil rigs operating for a second week in a row, with the country's production growth expected to slow as crude prices dropped close to their lowest levels of the year and most drillers cut spending. Drillers cut one oil rig in the week to June 14, bringing the total count down to 788, still the lowest since February 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That compares with 863 rigs [Read more]
Premiers’ demands on environment bills an ‘unhelpful’ threat to unity: Morneau
OTTAWA - The federal Liberals say it's conservative premiers who are putting Canada at risk in a fight over oil and the environment. Finance Minister Bill Morneau says in a letter to six right-leaning premiers Friday it's "unhelpful to threaten national unity" if their demands to change two bills on the verge of being passed in Parliament aren't met. The premiers of Ontario, Alberta, Saskatchewan, Manitoba, New Brunswick and the Northwest Territories wrote to the prime minister Monday [Read more]
Cequence Energy Announces Credit Facility Renewal
CALGARY, Alberta, June 14, 2019 (GLOBE NEWSWIRE) -- Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce that it has entered into an amended credit facility agreement (the “Credit Facility”) with its lender. The Credit Facility will mature on June 16, 2020 and the borrowing base remains at $7.0 million. Other than outstanding letters of credit totalling approximately $1.6 million, the Company currently has no amounts drawn under the Credit Facility. OVERVIEW OF [Read more]
IEA cuts 2019 estimate for oil demand growth on global economy worries
The outlook for oil demand growth in 2019 has dimmed due to worsening prospects for world trade, the International Energy Agency (IEA) said on Friday, although stimulus packages and developing countries should boost growth going into 2020. The Paris-based IEA, which coordinates the energy policies of industrial nations, revised down its 2019 demand growth estimate by 100,000 barrels to 1.2 million barrels per day (bpd), but said it would climb to 1.4 million bpd for 2020. "The main focus [Read more]