Net loss of $77 million compared to a net loss of $181 million in second quarter of 2016 Progressing a comprehensive plan to improve reliability and achieve targeted production levels at Kearl Increased ability to deliver value to shareholders through an expanded share buyback program CALGARY, July 28, 2017 /CNW/ - Second quarter Six months millions of Canadian dollars, unless [Read more]
Headlines
TransCanada Reports Strong Second Quarter 2017 Financial Results; Performance Highlights Diversified, Low Risk Business Strategy
CALGARY, ALBERTA--(Marketwired - July 28, 2017) - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada or the Company) today announced net income attributable to common shares for second quarter 2017 of $881 million or $1.01 per share compared to net income of $365 million or $0.52 per share for the same period in 2016. Comparable earnings for second quarter 2017 were $659 million or $0.76 per share compared to $366 million or $0.52 per share for the same period in 2016. TransCanada's Board [Read more]
TransCanada to expand Canadian Mainline capacity through new investment
TORONTO, ONTARIO--(Marketwired - July 28, 2017) - News Release - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced that it will apply to the National Energy Board (NEB) to expand the capacity of the Canadian Mainline System through its Maple Compressor Station near Vaughan, Ontario. The approximately $160 million project is underpinned by 15-year contracts and will increase capacity to the southern Ontario market plus delivery to Atlantic Canada via the Trans Québec & [Read more]
Petronas to take a hit from Canada pullout, but sees long-term domestic gains
Petronas may have to write off up to $800 million for work already done at the $29 billion Canadian liquefied natural gas (LNG) project, but scrapping the project brings long-term benefits, analysts said on Friday. State-owned Petroliam Nasional Bhd (Petronas) announced on Tuesday it would not proceed with its proposed Pacific NorthWest LNG terminal in British Columbia mainly due to depressed prices. "A rough gauge indicates that Petronas holding a 62 percent stake (in the project) would [Read more]
Bonavista Energy Corporation Announces 2017 Second Quarter Results
CALGARY, ALBERTA--(Marketwired - July 27, 2017) - Bonavista Energy Corporation (TSX:BNP) ("Bonavista") is pleased to report to shareholders its financial and operating results for the six months ended June 30, 2017. Results for the second quarter of 2017 are highlighted by a 29% increase in funds from operations and a 6% decrease in cash costs when compared to the second quarter of 2016. The unaudited financial statements and notes, as well as management's discussion and analysis, are available [Read more]
Suncor, Total SA argue over cost of Fort Hills project
Canada's Suncor Energy Inc is in the early stages of a commercial dispute with France's Total SA over funding for the Fort Hills oil sands project in northern Alberta, the two companies said on Thursday. The 194,000-barrel-per-day mining project is a joint venture between Suncor, Total and Teck Resources Ltd . Earlier this year Suncor upped its Fort Hills capital costs estimate to between C$16.5 billion and C$17 billion, from C$15.1 billion, and on Wednesday the Canadian [Read more]
TransCanada Launches Binding Open Season for Keystone Pipeline System
CALGARY, ALBERTA--(Marketwired - July 27, 2017) - Media Advisory - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today launched an Open Season to solicit additional binding commitments from interested parties for transportation of crude oil on the Keystone Pipeline and for the Keystone XL Pipeline project from Hardisty, Alberta to markets in Cushing, Oklahoma and the U.S. Gulf Coast. Interested parties may submit binding bids for transportation capacity during the Open Season [Read more]
Oil prices hover near eight-week highs on lower U.S. inventories
Oil prices held just below eight-week highs on Thursday, supported by a steeper-than-expected decline in U.S. crude inventories that boosted expectations of a shift to a more balanced market. Brent crude futures LCOc1 dipped 9 cents at $50.88 a barrel at 0950 GMT, after rising about 1.5 percent in the previous session. U.S. West Texas Intermediate futures CLc1 slipped 6 cents at $48.69 a barrel. U.S. crude stocks fell sharply last week as refineries increased output and imports declined, [Read more]
Crescent Point Announces Strong Q2 2017 Results and Upwardly Revised 2017 Guidance
CALGARY, ALBERTA--(Marketwired - July 27, 2017) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG)(NYSE:CPG) is pleased to announce its operating and financial results for the quarter ended June 30, 2017. KEY HIGHLIGHTS Exceeded second quarter 2017 average production target by over 8,000 boe/d or five percent. Increased 2017 average production guidance to 174,500 boe/d from 172,000 boe/d based on positive operating results. Delivered strong initial 30-day [Read more]
Qatar’s LNG brownfield trumps Petronas’ greenfield hopes: Russell
The shifting dynamics of the liquefied natural gas (LNG) industry have been neatly encapsulated by two recent decisions: the scrapping of a major new development and the expansion of an existing large-scale project. Malaysia's state-owned Petronas announced this week it was cancelling its $29 billion Pacific Northwest LNG venture in Canada's western British Columbia province, citing low global prices for the super-chilled fuel. The decision not to proceed came after Qatar said on July 4 it [Read more]