Kinder Morgan Inc has hired investment bank TD Securities to facilitate a potential sale of its Canadian business, which could fetch the U.S. pipeline operator as much as C$2.4 billion ($1.8 billion), people familiar with the situation told Reuters this week. The move comes about two weeks after Kinder Morgan closed its sale of the Trans Mountain pipeline to the Canadian government for about C$4.5 billion. At a conference earlier this month, Kinder Morgan Chief Executive Steven Kean [Read more]
Headlines
Pieridae Appoints Chief Financial Officer and Grants Options
CALGARY, Alberta, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce the appointment of Ms. Melanie Litoski as Chief Financial Officer (“CFO”) of the Company. Ms. Litoski is expected to begin her role as CFO on October 1, 2018. Ms. Litoski succeeds Mario Racicot who retired as CFO of the Company effective September 1st, 2018. Alfred Sorensen, Chief Executive Officer of the Company, will assume the responsibilities of CFO [Read more]
China’s Sinopec plans to build Canadian oil refinery
China's Sinopec Corp has joined a group planning to build an oil refinery in Alberta, an enterprise that would strengthen demand for the Canadian province's heavily discounted crude. State-owned Sinopec, formally known as China Petroleum & Chemical Corp , along with an Alberta indigenous group, China State Construction Engineering Corp and Alberta management company Teedrum, plan to build a refinery to process 167,000 barrels per day of crude into gasoline and other products, [Read more]
Enhance Energy Completes Arrangements for the Financing and Construction of the Alberta Carbon Trunk Line
CALGARY, Sept. 14, 2018 /CNW/ - Enhance Energy Inc. ("Enhance" or the "Company") is pleased to announce the completion of all required arrangements related to the previously announced project development and coordination agreement and long-term service agreement for the construction and operation of the Alberta Carbon Trunk Line ("ACTL") with Wolf Carbon Solutions Inc. Under the terms of the agreements, Wolf will construct, own and operate the CO2 capture and pipeline transportation assets. [Read more]
Hammerhead Resources Inc. Announces Equity Commitment and Provides Operational Update
CALGARY, Sept. 14, 2018 /CNW/ - Hammerhead Resources Inc. ("Hammerhead", "HHR" or the "Company"), a privately owned oil and gas producer focused on the liquids-rich Montney play in Alberta, is pleased to provide an operational update and announce an equity commitment that will provide financial flexibility to continue HHR's organic growth program across the Company's high-quality resource base. Equity Commitment The preferred share equity commitment of up to $300 million, priced at [Read more]
Canada Weekly Rig Count Up 22 to 226
Western Canada’s fleet of drilling rigs increased to to a total of 226 according to data collected by Baker Hughes for the week of September 14th. From one week ago, Alberta rig counts increased from 204 to 226. Saskatchewan's rig count increased from 41 to 48. Oil drilling went from 133 to 148; natural gas rigs increased from 71 to 78. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for second week in three
U.S. energy companies this week added oil rigs for the second time in the last three weeks even as new drilling has largely stalled since June due to pipeline constraints in the country's biggest oilfield. Drillers added seven oil rigs in the week to Sept. 14, the biggest weekly increase in a month, bringing the total count to 867, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, [Read more]
Column: The conundrum of the Canadian oil differential
Imagine being the manufacturer of one of the most highly in demand items on Amazon today, and having the ability to produce a large amount in order to fulfill that demand but are stifled by the fact that your local post office only allows you to ship 50 items a week. So in order to get your products to your customers at the same price as your competitors (that may not have the 50 item per week limit) you have to pay extra for expedited shipping. This takes revenue off the top and effectively [Read more]
Razor Energy Corp. Provides Update on Current NCIB and Announces TSXV Approval for a New Normal Course Issuer Bid
CALGARY, Alberta, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) (www.razor-energy.com) is pleased to provide an update on the current normal course issuer bid (the “Current NCIB”) and announces the TSX Venture Exchange (the “TSXV”) has accepted Razor’s notice of intention to commence a new normal course issuer bid (the “New NCIB”) on September 14, 2018. The Current NCIB commenced on September 14, 2017 and concluded on September 13, 2018. Under the [Read more]
West Lake Energy Corp: Non-Core Property Divestiture
West Lake Energy Corp. (“West Lake” or the “Company”) has engaged Sayer Energy Advisors to assist with the sale of its non-core producing heavy oil properties located in the Silverdale, Furness, Tangleflags, Lashburn, Mervin, Pikes Peak, Epping, Celtic, Primate and Freemont areas of Saskatchewan as well as non-producing properties located in the Maidstone, Ear Lake, Manitou, Macklin, Marsden and Rush Lake areas of Saskatchewan (the “Properties”). West Lake operates all of the Properties, [Read more]