Declares Quarterly Dividend of $0.75 per Common Share CALGARY, Alberta, May 03, 2019 (GLOBE NEWSWIRE) -- TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the Company) today announced net income attributable to common shares for first quarter 2019 of $1.004 billion or $1.09 per share compared to net income of $734 million or $0.83 per share for the same period in 2018. Comparable earnings for first quarter 2019 were $987 million or $1.07 per common share compared to $864 million or $0.98 [Read more]
Headlines
Seven Generations Energy Delivers $339 Million of Adjusted Funds Flow or $0.95 Per Share
Strong liquids production, improving regional condensate pricing and reduced operating costs contribute to expected free cash flow generation in 2019 CALGARY, Alberta--(BUSINESS WIRE)--FIRST QUARTER 2019 HIGHLIGHTS 7G’s market access initiatives, coupled with a stronger condensate price environment and improved operating costs, led to adjusted funds flow of $339 million or $0.95 per share and yielded an operating netback of $21.99 per boe, 16 percent higher than the fourth quarter of [Read more]
Plains Midstream Canada Announces New Mitsue Terminal Supporting Marten Hills Production Area
CALGARY, May 3, 2019 /CNW/ - Plains Midstream Canada (PMC) today announced that it is constructing a new 50,000 barrel per day crude oil terminal in Mitsue, Alberta, on its Rainbow Pipeline system, supported by long-term commitments from area producers. The Mitsue Terminal leverages PMC's existing Rainbow crude oil and RPII diluent pipeline systems and is designed to provide reliable pipeline takeaway capacity for growing production from the Clearwater play of the Marten Hills area. The [Read more]
Questerre closes private placement
CALGARY, Alberta, May 03, 2019 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) is pleased to announce that it has closed its previously reported private placement of 38.9 million Common Shares (the “Private Placement”) at 2.40 NOK or approximately C$0.38 per Common Share. Gross proceeds were 93.4 million NOK or approximately C$14.5 million. On closing, the Common Shares issued under the Private Placement are validly issued, fully paid and [Read more]
Advantage Announces First Quarter 2019 Operating & Financial Results
2019 Liquids Production Growth On-Track with Lower Capital (TSX: AAV) CALGARY, May 2, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce continued advancement of our liquids development plan as demonstrated by our first quarter 2019 results. Advantage's achievements include: 13% increase in production to 44,900 boe/d, including an 84% increase in liquids production to 2,030 bbls/d during the quarter, on plan to exceed 2,300 bbls/d in the [Read more]
National Energy Board approves applications to abandon sub-sea pipelines
Sable Offshore Energy Project and Deep Panuke Projects have ceased production CALGARY, May 2, 2019 /CNW/ - The National Energy Board (NEB) has approved two applications to abandon the NEB-regulated parts of Exxon Mobil's Sable Offshore Energy Project and Encana Corporation's Deep Panuke Project. These projects, both located offshore Nova Scotia, had reached a stage of naturally declining production. The Sable Offshore Energy Project stopped producing natural gas in December, 2018 and Deep [Read more]
Canadian LNG project in Oregon faces one-year delay for regulatory approvals
CALGARY - A Calgary company proposing to build a US$10-billion LNG export facility in Oregon says the project timeline is being delayed by about a year. Pembina Pipeline Corp. says it has decided to minimize project spending at about $50 million this year as it tries to vault remaining regulatory and permitting hurdles for the Jordan Cove liquefied natural gas project at Coos Bay, Ore., and a related 370-kilometre pipeline. The reduced level of work is expected to result in construction [Read more]
Ex-Obama envoy Heyman details ‘ice age’ with Harper over Keystone pipeline
OTTAWA - Barack Obama's former envoy to Ottawa has pulled back the veil on how the previous Conservative government of Stephen Harper froze him out over the controversial Keystone XL pipeline. Bruce Heyman, who was the U.S. ambassador to Canada from 2014 to 2017, offers an on-the-record insider account of one of the worst-kept secrets in Ottawa diplomatic circles in a new book penned with his wife, Vicki. Harper had staked a lot of his government's reputation on getting U.S. approval for [Read more]
Energy company’s bankruptcy may show lenders viewing industry differently: CAPP
The bankruptcy of an energy company that plans to walk away from thousands of gas wells may be a sign lenders are changing how they look at the industry in light of a recent Supreme Court ruling. "The credit industry is evolving the way it looks at risk," said Brad Herald, a vice-president with the Canadian Association of Petroleum Producers. "We knew there could be some increased defaults because of that evolving assessment." On Wednesday, Trident Exploration of Calgary announced it was [Read more]
Alberta’s ‘turn-off-taps’ law makes gas price jumps and shortages real
VICTORIA - Get ready for higher gasoline prices and shortages in British Columbia and a supply surplus on the Prairies if Alberta Premier Jason Kenney uses a newly proclaimed law to restrict fuel exports to its western neighbour, say industry experts and court documents. "The one wild card factor that we really can't predict is the political factor: would, in fact, the Alberta government actually put in effect, in practice, the curtailment of gasoline and diesel shipments from Alberta to the [Read more]