VICTORIA - British Columbia is changing the province's tax structure for liquefied natural gas projects with Finance Minister Carole James saying the government is aiming to encourage more development through a natural gas tax credit. James introduced legislation Monday that she said meets the objectives set out a year ago by Premier John Horgan in a policy framework. "British Columbians are counting on us to attract LNG investment that meets strict conditions: delivering jobs and [Read more]
Headlines
Morneau unveils principles for Indigenous ownership in Trans Mountain pipeline
CALGARY - Finance Minister Bill Morneau says the government remains committed to putting the Trans Mountain pipeline and its proposed expansion back in private hands as he unveiled four principles for including Indigenous groups in those discussions. But he says timing and details of the sale of the pipeline depends on when it is "de-risked" and therefore can't be determined until consultations now underway with affected Indigenous groups are completed. The minister says discussions of [Read more]
PRD Energy Provides Update on Liquidation & Dissolution Process
CALGARY, Alberta, March 25, 2019 (GLOBE NEWSWIRE) -- PRD Energy Inc. ("PRD" or the "Company") is pleased to provide an update on the status of its liquidation and the anticipated timing of its dissolution. PRD is currently discharging all of its obligations and completing all other acts required to liquidate its business. PRD's assets, as at December 31, 2018, were comprised of cash on hand of approximately $725,055. PRD has filed requests for tax clearance certificates with the Canada Revenue [Read more]
Pengrowth Announces the Extension of Its Credit Facility
CALGARY, Alberta, March 25, 2019 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF), today announced that it has reached arrangements for the extension of the maturity date under its secured revolving credit facility (the “Credit Facility”) through September 30, 2019, subject to certain terms. The Company’s $330 million Credit Facility (all amounts in Canadian dollars) is provided by a broad syndicate of domestic and international banks and [Read more]
Canadian oilfield services firms bringing in more revenue from U.S. operations
CALGARY - Analysts say Canadian oilfield services companies with operations in the U.S. are now earning more of their revenue south of the border than they have for at least six years. In a report, AltaCorp Capital says that trend is expected to continue as ongoing oil and gas spending weakness in Canada is balanced against steady activity in the United States. The analysts say that 12 of the largest Canadian energy services companies with U.S. operations earned 54 per cent of their [Read more]
Duvernay Rights Divestiture: Aspenleaf Energy Limited – Thorsby Area of Alberta
Sayer Energy Advisors has been engaged to assist Aspenleaf Energy Limited and its wholly-owned subsidiary NEP Canada ULC (“Aspenleaf” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Thorsby area of Alberta (the “Property”). The Property consists of Aspenleaf’s 100% working interest in 34,640 acres (54.1 sections) of Crown and Freehold Duvernay rights. Aspenleaf’s lands at Thorsby are offset to the southwest by recent Duvernay drilling activity by [Read more]
Vertex Resource Group Ltd.’s Diversification Pays Off Entering 2019 With Record Backlog
REPORTS FOURTH QUARTER AND FISCAL 2018 FINANCIAL RESULTS Revenue of $46.2 million, EBITDA of $5.9 million and improved net income of $0.4 million for fourth quarter 2018 when compared with the fourth quarter of 2017. Revenue of $150.4 million, EBITDA of $20.6 million and net income of $2.3 million for the year ending December 31, 2018. SHERWOOD PARK, AB, March 25, 2019 /CNW/ - (TSXV:VTX) - Vertex Resource Group Ltd. ("Vertex" or the "Company") reports its financial and operational results [Read more]
Return Energy Undertakes Review of Strategic Alternatives
CALGARY, March 25, 2019 /CNW/ - RETURN ENERGY INC. ("Return" or the "Company") (TSX-V: RTN) announces that its Board of Directors (the "Board") has initiated a formal process to review potential strategic alternatives available to the Company (the "Process") in an effort to enhance shareholder value. The Board believes that the current trading price of its common shares does not adequately reflect the underlying value of the Company and its assets, in particular its Upper Charlie Lake light [Read more]
Tidewater announces $85 million sale of cogeneration units at Pipestone Gas Plant
CALGARY, March 25, 2019 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") is pleased to announce that it has entered into an asset purchase and sale agreement whereby the Corporation has divested of its Pipestone Gas Plant's 32MW cogeneration units to Kineticor Resource Corp. ("Kineticor"), a privately held power developer focused on thermal generation in Canada. Under the terms of the sale, the Corporation received a cash payment of $85 million and Kineticor [Read more]
Robson: 97 percent wrong
If you dare raise questions about climate change, as we’re doing at the Climate Discussion Nexus, somebody will immediately try to clobber you with the claim that 97% of world scientists agree that it’s an urgent manmade crisis, unlike you idiots. But the thing is, they don’t. It’s a made-up number… and if someone is that smugly and aggressively wrong about something that important you wonder what else they don’t know. Many people assume the 97% figure is solid enough to be used as a club. [Read more]