Canada will soften the impact of a planned carbon tax on major emitters of greenhouse gases after businesses complained it would make them less competitive with the United States, officials said on Wednesday. The move underlines the challenges facing Canada as it tries to deal with Washington under U.S. President Donald Trump, who has slashed domestic corporate taxes and imposed tariffs on Canadian steel and aluminum. The Liberal government of Prime Minister Justin Trudeau - which took [Read more]
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Enbridge Completes Asset Sales for Approximately $3.15 Billion in Cash Proceeds
CALGARY, Aug. 1, 2018 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today announced it has closed the previously announced agreements to sell its U.S. midstream businesses and monetize a portion of its renewables business for combined cash proceeds of approximately $3.15 billion. "We are pleased to have moved quickly to execute and close these transactions at strong valuations," said Al Monaco, President and Chief Executive Officer of Enbridge. "In addition, the [Read more]
Tourmaline Delivers Strong Q2 Free Cash Flow, Increases 2018 Exit Production Estimate and Increases Quarterly Dividend
CALGARY, Aug. 1, 2018 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the second quarter of 2018. HIGHLIGHTS Six month 2018 cash flow(1) of $624.5 million on EP capital spending of $464.3 million. Net debt(2) reduced by $85.0 million in Q2 2018 from Q1 2018 (5% reduction). Tourmaline has reduced net debt by $198.6 million in the first six months of 2018. Quarterly dividend will be increased by 11% to [Read more]
Crew Energy Inc. Announces Second Quarter 2018 Financial And Operating Results
CALGARY, Aug. 1, 2018 /CNW/ - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") is pleased to announce our operating and financial results for the three and six month periods ended June 30, 2018. Our Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and six month periods ended June 30, 2018 are available on Crew's website and filed on SEDAR. HIGHLIGHTS Production Ahead of Forecast: At 23,583 boe per day in Q2, average [Read more]
Hemisphere Energy provides operational update
TSX-V: HME - VANCOUVER, Aug. 1, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to provide an update on its drilling and field operations. Hemisphere has continued to show significant progress in production growth. During the three month period ended June 30, 2018, the Company achieved an average corporate production rate of over 1,050 boe/d (96% oil), based on field estimates. This growth in production represents a 22% increase over the [Read more]
Whitecap Resources Inc. Announces Record Levels of Production, Increased 2018 Production Guidance and Second Quarter 2018 Results
CALGARY, Aug. 1, 2018 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to report its operating and unaudited financial results for the three and six months ended June 30, 2018. Selected financial and operating information is outlined below and should be read with Whitecap's unaudited interim consolidated financial statements and related Management's Discussion and Analysis ("MD&A") which are available at www.sedar.com and on our website at [Read more]
Encana delivers strong second quarter financial results; liquids growth, efficiencies and robust realized prices driving quality returns
CALGARY, Alberta , Aug. 01, 2018 (GLOBE NEWSWIRE) -- TSX, NYSE: ECA Encana delivered strong financial performance in the second quarter driven by continued liquids growth, efficiencies and robust realized prices. Year-over-year, the company more than doubled cash from operating activities and increased its non-GAAP cash flow and cash flow margin by 67 and 57 percent, respectively. Encana is on track to grow annual production by over 30 percent and now expects to generate free cash flow in 2018. [Read more]
Bonavista Energy Corporation Announces 2018 Second Quarter Results
(TSX:BNP) CALGARY, July 31, 2018 /CNW/ - Bonavista Energy Corporation ("Bonavista") is pleased to report to shareholders its financial and operating results for the three and six months ended June 30, 2018. In the second quarter of 2018 we generated adjusted funds flow of $65.7 million, allocating $29.0 million to a reduction in total net debt. The unaudited financial statements and notes, as well as management's discussion and analysis, are available on the System for Electronic Document [Read more]
Toscana Energy Announces Second Quarter 2018 Results
CALGARY, Alberta, July 31, 2018 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) announces financial and operating results for the second quarter ended June 30, 2018. Financial and operating results: This news release summarizes information contained in the Condensed Consolidated Interim Financial Statements (unaudited) and Management’s Discussion and Analysis (“MD&A”) for the three and six month period ended June 30, 2018. This news release [Read more]
NEB Decision for NGTL’s Northwest Mainline Loop
CALGARY, July 31, 2018 /CNW/ - The National Energy Board (NEB or Board) announced today that it has approved NOVA Gas Transmission Ltd. (NGTL)'s request to construct and operate the Northwest Mainline Loop (Boundary Lake North Section) (Project). The Project will be located in northwestern Alberta and includes 23 kilometres of new pipeline to transport natural gas. Today's decision follows a written public hearing in which three Indigenous groups and Environment and Climate Change Canada [Read more]