An expansion of LNG Canada has a cost advantage over its rivals in the race to build more liquefied natural gas export capacity, but a go-ahead decision on phase two is likely still a few years away, Shell Canada's president said on Thursday. The first phase of the C$41 billion ($31.3 billion) Royal Dutch Shell -led project was given the go-ahead last month, firing up a race among companies eager to be the next to tap into booming Asian demand for the gas that is supercooled into liquid form [Read more]
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Whitecap Resources Inc. Announces Record Funds Flow and Third Quarter 2018 Results
CALGARY, Nov. 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 nine months ended September 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 third quarter financial and operational performance; significant liquids growth driving margin expansion and returns
CALGARY, Alberta, Nov. 01, 2018 (GLOBE NEWSWIRE) -- TSX, NYSE: ECA Encana delivered strong financial performance in the third quarter driven by significant liquids growth, high realized pricing and continued efficiencies. Financial and operating highlights from the quarter include: net earnings of $39 million cash from operating activities of $885 million, up 148 percent year-over-year non-GAAP free cash flow of $66 million; company is on track to generate full-year non-GAAP free [Read more]
Encana announces strategic combination with Newfield Exploration Company; intends to raise dividend by 25 percent and expand its share buyback program to $1.5 billion, post closing
CALGARY, Alberta, Nov. 01, 2018 (GLOBE NEWSWIRE) -- Encana Corporation (Encana) (TSX, NYSE: ECA) and Newfield Exploration Company (Newfield) (NYSE: NFX) today announced that they have entered into a definitive agreement whereby Encana will acquire all of the outstanding shares of common stock of Newfield in an all-stock transaction valued at approximately $5.5 billion. In addition, Encana will assume $2.2 billion of Newfield net debt. The strategic combination will create a leading multi-basin [Read more]
MEG Energy reports record production, record low net operating costs per barrel, and strong funds flow from operations in third quarter of 2018
Solid operations deliver production and cash flow growth All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, Nov 1, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG) today reported third quarter 2018 operating and financial results. Highlights include: Record quarterly bitumen production volumes of 98,751 barrels per day (bpd) and low steam-oil-ratio (SOR) of 2.2. Annual production is well on-track to achieve 2018 guidance of 87,000 to 90,000 bpd; Record low [Read more]
Canadian Natural Resources Limited Announces 2018 Third Quarter Results
CALGARY, Alberta, Nov. 01, 2018 (GLOBE NEWSWIRE) -- Commenting on third quarter 2018 results, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, "The strength of our well balanced and diverse portfolio, combined with Canadian Natural's ability to effectively and efficiently execute, delivered a strong third quarter for the Company. Record quarterly adjusted funds flow of over $2.8 billion was achieved in the third quarter and adjusted funds flow of $7.9 billion was achieved in the [Read more]
Enbridge says repairs done on ruptured gas pipeline near Prince George, B.C.
PRINCE GEORGE, B.C. - Enbridge Inc. says it has successfully completed repairs on the section of a natural gas pipeline that ruptured and burned near Prince George, B.C., three weeks ago. The company says following a comprehensive integrity assessment, it expects to begin safely returning the repaired segment to service within the next two days. It says it will gradually increase flows of natural gas through the repaired segment until it reaches 80 per cent of its normal [Read more]
Suncor Energy reports third quarter 2018 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, except for Libya, which is on an entitlement basis. Certain financial measures referred to in [Read more]
TransCanada Announces $1.5 Billion NGTL System Expansion to Connect WCSB Supply to Incremental Market Demand
CALGARY, Alberta, Oct. 31, 2018 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) announced today that it will move forward with a $1.5 billion expansion of its NOVA Gas Transmission Ltd. (NGTL) System to connect existing and new supply to incremental intra-basin market demand. “The NGTL System continues to expand as parties require and contract for greater pipeline capacity to meet the growing demand for clean-burning natural gas from domestic and [Read more]
Court rejects secrecy bid in court case over alleged spying on activists
OTTAWA - The federal government has lost in a bid to go behind closed doors in a prominent court case about allegations of spying on anti-pipeline activists. In a ruling Wednesday, Federal Court Justice Robert Barnes sided with the British Columbia Civil Liberties Association in embracing the open-court principle and turning down the government's confidentiality request. If the decision stands, it means the public will have a fuller view of events when the court looks at the central issue [Read more]