CALGARY - A move by the governor of Michigan to halt work on a project to replace Enbridge Inc.'s 65-year-old Line 5 pipeline is raising fears that the recently elected Democratic administration could also try to shut down the existing pipeline. Analyst Matthew Taylor of Tudor Pickering Holt & Co. says that could result in crude supply disruptions for refineries in southern Ontario and Quebec and could also reduce oil pipeline takeaway capacity from Western Canada. On Thursday, [Read more]
Headlines
Bellatrix Announces Recapitalization Transaction
CALGARY, Alberta, March 29, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announced today a proposed recapitalization transaction (the “Recapitalization Transaction”) designed to improve and strengthen the Company’s overall financial position and which, among other things, would: Reduce the Company’s total outstanding debt by approximately C$110 million (approximately 23%) and reduce annual cash interest payments by over C$12 million [Read more]
Razor Energy Corp. Announces Fourth Quarter and 2018 Year End Results
CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) (www.razor-energy.com) is pleased to announce its fourth quarter and year end 2018 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s audited consolidated financial statements and management’s discussion and analysis for the year ended December 31, 2018, which are available on SEDAR at [Read more]
Enbridge Responds to Michigan Attorney General’s Opinion and Governor’s Executive Directive
CALGARY, March 28, 2019 /CNW/ - After reviewing the statement issued by Michigan Attorney General Nessel and Governor Whitmer's executive directive, Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) is surprised and disappointed they have taken this position with respect to the legislation when the Straits tunnel project will further enhance the safety and reliability of a critical piece of infrastructure that supports the State, its communities and the environment. We intend [Read more]
Michigan governor halts Great Lakes oil tunnel
TRAVERSE CITY, Mich. - Michigan Gov. Gretchen Whitmer has ordered state departments and agencies to take no further action on legislation enacted in late 2018 authorizing construction of an oil pipeline tunnel beneath lakes Huron and Michigan. It would house a more than 4-mile (6.4-kilometre) section of Enbridge's Line 5, which carries oil and natural gas liquids between Superior, Wisconsin, and Sarnia, Ontario. Whitmer made the move Thursday after Attorney General Dana Nessel issued an [Read more]
Marksmen Announces Final Closing of Private Placement
CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it has completed the second and final closing (“Second Tranche”) of its previously announced non-brokered private placement of units (the “Units”) of Marksmen at a price of $0.10 per Unit (the “Offering”). The Company issued 865,000 Units under the Second Tranche for gross proceeds of $86,500, bringing the aggregate total under the Offering to 3,880,000 Units, for gross proceeds [Read more]
Potential Trans Mountain pipeline buyer says it agrees with federal principles
CALGARY - One of the leaders of a First Nations consortium planning to offer $6.8 billion for majority ownership of the Trans Mountain pipeline says federal government principles for Indigenous buyers are "exactly aligned" with its goals. Harrie Vredenburg, a Project Reconciliation executive board member and professor at the University of Calgary's Haskayne School of Business, says the principles unveiled by Finance Minister Bill Morneau on Monday don't affect his group's plan to invite all [Read more]
Suncor says fire extinguished at Alberta oil sands upgrader
CALGARY, Alberta (Reuters) - A fire which broke out at Suncor Energy’s U2 upgrader at its oil sands plant in northern Alberta early on Thursday has been contained and extinguished, a company spokeswoman said. Spokeswoman Erin Rees said there were no injuries but declined to say whether production had been affected. “We do not provide real-time status updates on any of our operations. Our focus is on responding and making sure everyone is safe and accounted for,” she said. Upgraders [Read more]
Prairie Provident Announces Fourth Quarter and Year-End 2018 Financial and Operating Results
CALGARY, Alberta, March 27, 2019 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") is pleased to announce our operating and financial results for the three months and year ended December 31, 2018. PPR’s audited consolidated financial statements ("Annual Financial Statements") and related Management's Discussion and Analysis ("MD&A") for the three months and year ended December 31, 2018 and annual information form dated March 27, 2019 (“AIF”) [Read more]
Perpetual Energy Inc. reports fourth quarter and year-end 2018 financial and operating results and credit facility extension
CALGARY, March 27, 2019 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release its fourth quarter and year-end 2018 financial and operating results and announce the confirmation of the borrowing limit on its bank credit facility at $55 million and the extension of the maturity date to November 30, 2020. A complete copy of Perpetual's audited consolidated financial statements, Management's Discussion and Analysis ("MD&A") and Annual [Read more]