CALGARY, July 26, 2018 /CNW/ - AltaGas Ltd. (AltaGas) (TSX: ALA) announced today the expansion of its Board of Directors (the "Board") from nine to 12 seats and the appointment of three new Directors. The expansion of the Board reflects AltaGas' scope and growing complexity and the experience and expertise required by the Board to support AltaGas' business, operations and strategic objectives. "We are firmly committed to having strong governance at AltaGas and a Board that reflects the [Read more]
Headlines
Bellatrix Announces Debt Refinancing Transaction and NYSE Listing Notification
Debt Refinancing Transaction Highlights Exchange US$80 million of existing 2020 Notes for US$72 million of Second Lien Notes due 2023, extending the maturity of over 1/3 of the outstanding 2020 Notes by 3 years, reducing outstanding debt by US$8 million, and maintaining the cash interest rate at 8.5% New money commitment of US$30 million to US$40 million in additional Second Lien Notes for drilling and subsequent 2020 Note exchanges Provide a basket for up to US$50 million of [Read more]
ConocoPhillips Reports Second-Quarter 2018 Results and Continued Strong Execution of Disciplined 2018 Operating Plan
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported second-quarter 2018 earnings of $1.6 billion, or $1.39 per share, compared with a second-quarter 2017 loss of $3.4 billion, or ($2.78) per share. Excluding special items, second-quarter 2018 adjusted earnings were $1.3 billion, or $1.09 per share, compared with second-quarter 2017 adjusted earnings of $0.2 billion, or $0.14 per share. Special items for the current quarter were primarily driven by an unrealized gain on Cenovus [Read more]
Highfields Capital Announces Resignation of Daniel Farb from the Board of Directors of MEG Energy Corp.
BOSTON, July 24, 2018 /CNW/ -- Highfields Capital Management ("Highfields"), a value-oriented investment firm that manages private funds which own more than 9.9% of MEG Energy Corp. (TSX: MEG) ("MEG Energy" or the "Company") shares, today announced that Daniel S. Farb has resigned from the Board of Directors of MEG Energy, effective immediately. Mr. Farb, a Managing Director of Highfields, was appointed to MEG Energy's Board on December 1, 2017. "I served on the MEG Energy Board for [Read more]
Crescent Point Announces Q2 2018 Results
CALGARY, Alberta, July 26, 2018 (GLOBE NEWSWIRE) -- Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) (NYSE:CPG) is pleased to announce its operating and financial results for the quarter ended June 30, 2018. KEY HIGHLIGHTS Reduced net debt in the quarter by over $390 million, driven by funds flow from operations in excess of capital expenditures and proceeds from recently announced dispositions of approximately $280 million. Renewed unsecured, covenant-based [Read more]
Column: What’s the narrative for a natural gas weighted Canadian E&P in the market today?
The short-term outlook remains bearish on price even though Canadian producers have managed to slightly increase exports to the US in the mid-west market. Additional supply is coming into the mid-west from the Marcellus and Utica with the rover pipeline now fully operational in June of this year adding an another 1.75 Bcf/day into the mid-west which is already a well supplied market and where most of Canadian gas is exported with no other options. The natural gas futures curve is still in [Read more]
Suncor Energy reports second quarter 2018 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, except for Libya, which is on an entitlement basis. Certain financial measures referred to in [Read more]
U.S. crude inventories slump 6 million barrels to Feb 2015 low: EIA
(Reuters) - U.S. crude oil inventories last week tumbled more than expected to their lowest level since 2015 as exports jumped and stocks at the Cushing hub dropped, the Energy Information Administration said on Wednesday. Crude inventories fell 6.1 million barrels in the week to July 20, compared with analysts’ expectations for a decrease of 2.3 million barrels. At 404.9 million barrels, inventories, not including the nation’s emergency petroleum reserve, were at their lowest level since [Read more]
Point Loma Resources Provides Operational Update
Calgary, Alberta (FSCwire) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma”) is pleased to provide an update on its recent and upcoming activities; Highlights: Production has grown to over 1000 boepd with an increase of approximately 90% of oil and ngl volumes from Q1 2018; Q1-2018 3D seismic program and trade data merger covers an area of approximately 35 square km including the Corporation’s West Cove lands; Analysis of the data has [Read more]
AltaGas Announces Resignation of David Harris, President and CEO: Company to be Led by Co-CEO’s David Cornhill Chairman and Founder, and Phillip Knoll Experienced Industry Veteran and Board Member, on an Interim Basis
Key strategic priorities, financing plan for WGL and business operations remain unchanged and on track CALGARY, July 25, 2018 /CNW/ - AltaGas Ltd. (AltaGas) (TSX: ALA) announced today David Harris has resigned from his position as President and Chief Executive Officer effective immediately. Mr. Harris has also resigned from his position on the AltaGas Board. The Board of Directors of AltaGas and Mr. Harris have mutually agreed to his resignation due to a complaint under review by the [Read more]