CALGARY, July 8, 2019 /CNW/ - Encana Corporation (NYSE,TSX: ECA) today is commencing its previously announced substantial issuer bid ("the Offer") to purchase for cancellation up to US$213 million of its common shares ("Shares"). The Offer will expire at 5:00 p.m. (Eastern time) on August 14, 2019, unless extended or withdrawn. The Offer by Encana is being made by way of a "modified Dutch Auction," allowing shareholders who choose to participate in the Offer to individually select the price, [Read more]
Headlines
InPlay Oil Corp. Provides Operations Update and Announces Renewal of Credit Facilities
CALGARY, Alberta, July 08, 2019 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to provide an operations update and announce that the annual review of its operating and syndicated credit facilities by its lenders has been completed. Production for the second quarter, based on field estimates, is expected to average over 5,100 boed. The Company is very pleased with this result as it is above the high end of our annual production guidance of [Read more]
Encana Signs Agreement to Sell its Arkoma Basin Natural Gas Assets
CALGARY, July 8, 2019 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today announced that its wholly owned subsidiary, Newfield Exploration Mid-Continent Inc., signed an agreement to sell its natural gas assets in Oklahoma's Arkoma Basin to an undisclosed buyer. Total cash consideration to Encana under the transaction is $165 million. The agreement is subject to ordinary closing conditions, regulatory approvals and other adjustments and is expected to close in the third quarter of 2019. "Along [Read more]
Column: Hot news
Apparently the climate change debate just ended, for about the 43rd time since 2000. This time heat waves did it. Environment and Climate Change Canada just bellowed: “Climate change is real and Canadians are feeling the impacts—from wildfires that choke the air with smoke, to devastating floods and deadly heatwaves.” But don’t lose your cool just yet. As I’ve complained before, there’s a kind of rotten-cherry-picking going on when heat waves are blamed on climate change and cold snaps [Read more]
Oklahoma produces a pro-oil video which Albertans take to heart
The Oklahoma Energy Resource Board produced a short, but powerful video to defend its state's primary industry. The video was published in response to an announced Green New Deal, which would decimate the US oil and gas industry. The video hits close to home for many Albertans, as it shows a sign of strength from a thriving Oklahoma oil industry in the face of adversity. The video is so relatable, simply substituting 'Oklahoma' for 'Alberta', and it'd become a perfect advocacy piece for [Read more]
Premiers to meet at Calgary Stampede in advance of Council of the Federation
CALGARY - Alberta Premier Jason Kenney will host the premiers of Ontario, Saskatchewan, New Brunswick and the Northwest Territories at the Calgary Stampede. A news release from the province says the premiers will meet over dinner on Sunday, and will be officially welcomed at a traditional white hat ceremony during the premier's annual Stampede pancake breakfast on Monday. It says formal meetings will follow, where Kenney says the leaders will discuss how they "can be closer [Read more]
Tackle equalization to stand up for taxpayers and Canada’s resources
Ottawa gave Alberta’s struggling energy industry a body blow by passing legislation to ban tankers on the West Coast and make the pipeline approval process virtually impossible. It’s tempting to seek retribution. So tempting. But there’s a better way for Premier Jason Kenney to stand up for Alberta and strengthen Canada: reform equalization. The Trudeau government passed the Tanker Ban Bill (Bill C-48) and the No More Major Projects Bill (Bill C-69) at the last minute before it rises for the [Read more]
Oil prices rise on Iran tensions, OPEC output cuts
Oil futures rose on Friday as tensions over Iran and an extension to output cuts by OPEC and its allies boosted prices, but mixed economic data limited the rally. Brent crude futures settled at $64.23 a barrel, up 93 cents, or 1.47%. U.S. West Texas Intermediate (WTI) settled at $57.51 a barrel, up 17 cents. The U.S. market was closed on Thursday for a national holiday. Both benchmarks were down for the week as concerns about a slowing global economy outweighed risks to supply. Brent [Read more]
Column: Is Hypocrisy a Deception or a Lie?
I would like to start off by saying, I am not a politician nor am I a writer or a journalist. I am a 53 year old Albertan who has worked for over 33 years in our Alberta oil patch and I am damn proud of it! I have reached a critical point in my career where I can no longer sit back and watch the industry we have all worked so hard to build, diminish to a mere shadow of its former existence. We are facing one of the most critical turning points in our nation’s history. The October Federal [Read more]
GLJ’s July Price Forecast: Glimmers of Light at the end of the tunnel
Despite current challenges that face the Canadian energy industry, there are continued plans for future development reinforcing the assumption that conditions will eventually improve. With a deep-rooted sense of determination, Canadian industry continues to work towards developing our resources and building out market access in a socially responsible way. Slow and Steady To a certain degree, it has been one step forward, and two steps back with the approval of the TMX pipeline and the [Read more]