CALGARY - (ARX - TSX) The Board of Directors (the "Board") of ARC Resources Ltd. ("ARC", the "Corporation", or the "Company") is pleased to announce the appointment of Terry Anderson to the role of Chief Executive Officer, effective today. Myron Stadnyk will continue to serve as President and Director of the Corporation until his retirement on April 30, 2020. Terry Anderson has served as ARC's Chief Operating Officer over the past five years; prior to this, he successfully led ARC's [Read more]
Headlines
Column: Despite the current malaise in Alberta, I’m optimistic for the future
For those who are old enough to remember there is the famous adage in Alberta, “Please God let there be another Oil Boom. I promise not to piss it all away next time”. That seems to be a common refrain these days. The pain has been real and has manifested itself through increasing unemployment rates, rising levels of personal and corporate insolvency, growing statistics of escalating suicide rates, domestic abuse and failed marriages. But the stark and harsh reality is that there is no mystical [Read more]
Exclusive interview with Vice President of Digital Technology and Analytics Transformation at Suncor
Read the exclusive interview to find out more about: How Suncor is accelerating transformational change and securing its future through digital technology The 8 programs that are guiding Suncor’s analytics transformation How the company is applying digital technology to its operating environments to digitally optimise its assets Future plans including how they are scaling their autonomous haul trucks and better leveraging predictive analytics for critical assets Mike Krayacich [Read more]
Ovintiv Issues 2020 Outlook; Company Expects to Deliver Cash from Operations Significantly in Excess of Capital for the Third Consecutive Year; Fourth Quarter 2019 Results Top Consensus Estimates
2020 Outlook highlights: 2020 is expected to be third consecutive year of significant non-GAAP free cash flow. Plan expected to yield 4% year-over-year proforma growth in crude oil and condensate(1) production. Planned 2020 capital investments total $2.7 billion, down 6%, or $175 million less than 2019 proforma capital investment when including 2019 utilized third party capital of $75 million in the Montney. Strong hedge position: over 70% of 2020 crude oil and condensate and [Read more]
Peyto Increases PDP Liquids 23% in 2020, Replaces 285% of Produced Liquids
CALGARY, Alberta - Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX: PEY) is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2019. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2019 marks the Company’s 21st year of successful reserves development. SUSTAINABILITY Long Life, Low Decline: Peyto’s base production decline is [Read more]
Shelved Suncor thermal oilsands project wins Alberta government approval
CALGARY - The Alberta government has approved an application by Suncor Energy Inc. to build a 40,000-barrel-per-day thermal oilsands project but construction is unlikely to start any time soon. The province says in a news release that the Meadow Creek West project 40 kilometres south of Fort McMurray, which would use steam to produce bitumen from wells, can now apply for environmental and local development permits. Suncor CEO Mark Little, however, said earlier this month his company plans [Read more]
Alberta approves Suncor Energy oil sands project, other approvals still needed
The Alberta provincial government said on Wednesday that it had approved Suncor Energy's Meadow Creek West oil sands project, although other approvals are still needed. The 40,000-barrel-per-day project planned near Fort McMurray, Alberta, requires environmental licenses and development permits, and Suncor has not yet made a final decision on whether to build it. [Read more]
Chiefs say RCMP and pipeline firm must leave before they meet with government
VANCOUVER - A Wet'suwet'en hereditary chief says the chiefs won't meet with the federal government over their opposition to a natural gas pipeline until both the RCMP and Coastal GasLink leave their traditional territory. Na'moks, who also goes by John Ridsdale, said Wednesday the chiefs have communicated their terms to Carolyn Bennett, the minister responsible for Crown-Indigenous relations. Bennett has sought to meet with the chiefs as the federal government faces mounting pressure to [Read more]
Canada’s VIA Rail to temporarily suspend 1,000 employees amid pipeline protests
Canada's passenger rail company on Wednesday said blockades by demonstrators had forced it to temporarily lay off 1,000 employees, adding to pressure on Prime Minister Justin Trudeau to solve a two-week protest. Freight traffic in eastern Canada has already been halted after campaigners blockaded a main line in Ontario. They say they want to show solidarity with an aboriginal band trying to stop construction of a gas pipeline in the Pacific province of British Columbia. "This general [Read more]
No injuries as CN train carrying crude oil derails in northwestern Ontario
EMO, Ont. - Canadian National Railway Co. says a train carrying crude oil has derailed in northwestern Ontario. CN says 31 cars came off the tracks near Emo, Ont. at around 8:30 p.m. on Tuesday. The company says 26 of those cars were carrying crude oil at the time and at least two are leaking oil. It says no oil has entered local waterways and no one was injured in the derailment. Provincial police issued an evacuation order for anyone within 800 metres of the site, but CN says [Read more]