Canadian energy company Enbridge Inc said it is working on a plan to put in service a couple of pipelines adjacent to the Texas Eastern natural gas pipeline in Kentucky that exploded on Aug. 1, killing one person. The company, which made the announcement on Thursday, did not say when the two pipes would return to service. Earlier in the week, the company told customers it expected they would remain shut at least through Aug. 12. Enbridge said it is working with several agencies looking [Read more]
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Oil rises despite IEA report showing demand growth at decade low
Oil prices rose on Friday, supported by expectations of more OPEC production cuts despite the International Energy Agency (IEA) reporting demand growth at its lowest level since the financial crisis of 2008. Brent crude futures were up 89 cents at $58.27 a barrel by 1057 GMT. West Texas Intermediate (WTI) futures were at $53.33 per barrel, up 79 cents. “Despite a further cut in oil demand growth by the IEA, oil prices are trading marginally higher, as the demand growth cut was already [Read more]
Enerplus Announces Second Quarter 2019 Results
CALGARY, Aug. 9, 2019 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) today reported its second quarter 2019 operating and financial results. Cash flow from operating activities for the second quarter was $237.0 million and adjusted funds flow was $186.0 million. Second quarter net income was $85.1 million, or $0.36 per share, and adjusted net income was $74.3 million, or $0.32 per share. HIGHLIGHTS Second quarter total production was 100,694 BOE per day, [Read more]
Cequence Energy Announces Second Quarter Financial Results
CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its operating and financial results for the three and six months ended June 30, 2019. The Company’s Management’s Discussion and Analysis (“MD&A”) and Condensed Consolidated Interim Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS Optimization projects implemented in the second quarter 2019 increased [Read more]
Oilsands pipeline firm Inter Pipeline posts record Q2 net income of $260 million
CALGARY - Oilsands transport company Inter Pipeline Ltd. is reporting record second-quarter net income of $260 million or 63 cents per share, nearly double the $136 million or 35 cents it declared in the same period of 2018. The increase comes despite only a slight rise in revenue to $642 million from $631 million and a decrease in its core pipeline volumes to 1.34 million barrels per day from 1.38 million bpd a year earlier. Analysts had expected net income of $114 million on [Read more]
Pieridae Announces Second Quarter Results
CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA - TSXV) has filed its second quarter (“Q2”) unaudited condensed interim financial statements and related management’s discussion and analysis (“MD&A”) for the three and six month periods ending June 30, 2019. Pieridae's unaudited condensed interim financial statements and MD&A are available on our website at www.pieridaeenergy.com and are filed on SEDAR at [Read more]
Chinook Energy Inc. Announces Second Quarter of 2019 Operating and Financial Results
CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Chinook Energy Inc. ("our", "we", or "us") (TSX: CKE) is pleased to announce our operating and financial results for the three months ended June 30, 2019 (“Q219”). Our unaudited condensed consolidated financial statements and management’s discussion and analysis for the three and six months ended June 30, 2019 are available on our website (www.chinookenergyinc.com) and filed on SEDAR (www.sedar.com). Q219 Highlights Additional Q219 [Read more]
Prairie Provident Resources Announces Second Quarter 2019 Financial and Operating Results
CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") today announced operating and financial results for the three and six months ended June 30, 2019. PPR’s consolidated financial statements ("Financial Statements") and related Management's Discussion and Analysis ("MD&A") for the three and six months ended June 30, 2019 are available on our website at www.ppr.ca and filed on SEDAR. HIGHLIGHTS Achieved [Read more]
Heavy discount widens slightly
The differential on Canadian heavy crude against the North American benchmark widened slightly on Thursday: * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, was trading at $13 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Wednesday, it settled at $12.90 below WTI. * A boost in rail shipments and draining crude supplies in Alberta are keeping the differential tight, a Calgary-based trader said. U.S. [Read more]
Inter Pipeline Announces Second Quarter 2019 Financial and Operating Results
CALGARY, Aug. 8, 2019 /CNW/ - Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) today announced strong financial and operating results for the three and six month periods ended June 30, 2019. Second Quarter Highlights Funds from operations (FFO) totalled $240 million Net income for the quarter was a record $260 million Declared cash dividends of $176 million or $0.43 per share Quarterly payout ratio* of 73 percent Total pipeline throughput averaged 1,343,000 barrels per day [Read more]