CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited is pleased to announce the appointment of Miranda C. Hubbs to its Board of Directors, effective July 26, 2018. Ms. Hubbs is currently an independent director of Nutrien Ltd. and the Public Sector Pension Investment Board, one of Canada’s largest pension investment managers. She brings a wealth of experience within the energy industry, having received recognition as a leader and executive in the oil and gas investment community. Prior to [Read more]
Headlines
Suncor CEO says partners holding up Syncrude reliability improvements
CALGARY - Suncor Energy Inc. CEO Steve Williams says its partners in the Syncrude oilsands mining operation are resisting taking action that could solve ongoing performance issues at the four-decade-old northern Alberta operation. Suncor owns 58.74 per cent of the 350,000-barrel-per-day mine and upgrader but it is operated by a separate company and 25 per cent owner Imperial Oil Ltd. has a management services contract. The rest is owned by subsidiaries of Chinese companies Sinopec and [Read more]
New oilsands exploration tech leaves forest intact, to the relief of the caribou
CALGARY - One of the most destructive ecological impacts of oil and gas exploration happens long before a litre of oil flows into a pipeline or a single atom of carbon enters the atmosphere. Seismic surveying — the exploration activity that helps identify where to drill — can result in as much as 15 per cent of the forest being chopped down and mulched. But a new kind of seismic survey promises to leave only boot prints in the forest. And that's good news for species such as the threatened [Read more]
Husky Energy Raises Dividend; Reports Second Quarter 2018 Results
CALGARY, Alberta, July 26, 2018 (GLOBE NEWSWIRE) -- Husky Energy’s (TSX:HSE) Board of Directors has approved increasing the quarterly cash dividend to $0.125 per common share. The dividend increase recognizes the Company’s low net debt and continued ability to generate strong free cash flow. “This dividend level is affordable, and has a yield that is comparable with our peers,” said CEO Rob Peabody. “We can fund the dividend, our sustaining capital requirements and the capital program in [Read more]
Cenovus delivers strong second quarter
CALGARY, Alberta, July 26, 2018 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) achieved record production and delivered solid financial performance in the second quarter of 2018. The company had adjusted funds flow of $774 million, even after a realized risk management loss of $697 million, and generated free funds flow of $482 million. Cenovus ramped up its oil sands operations in the second quarter and achieved record high production volumes and record low per-barrel oil sands [Read more]
N.L. announces agreement to develop deepwater Bay du Nord oil project
ST. JOHN'S, N.L. - Newfoundland and Labrador is one step closer to developing its deepest offshore oil site at Bay du Nord, announcing an agreement with Equinor Canada for a project estimated to deliver its first oil by 2025. Premier Dwight Ball called the project a "new frontier" in the province's oil and gas industry, with an estimated operating cost of $10.9 billion. The remote parcel in the Flemish Pass about 500 kilometres east of St. John's lies in more than 1,100 metres of [Read more]
AltaGas Ltd. Announces Expansion of Board and the Appointment of Three New Directors
CALGARY, July 26, 2018 /CNW/ - AltaGas Ltd. (AltaGas) (TSX: ALA) announced today the expansion of its Board of Directors (the "Board") from nine to 12 seats and the appointment of three new Directors. The expansion of the Board reflects AltaGas' scope and growing complexity and the experience and expertise required by the Board to support AltaGas' business, operations and strategic objectives. "We are firmly committed to having strong governance at AltaGas and a Board that reflects the [Read more]
Bellatrix Announces Debt Refinancing Transaction and NYSE Listing Notification
Debt Refinancing Transaction Highlights Exchange US$80 million of existing 2020 Notes for US$72 million of Second Lien Notes due 2023, extending the maturity of over 1/3 of the outstanding 2020 Notes by 3 years, reducing outstanding debt by US$8 million, and maintaining the cash interest rate at 8.5% New money commitment of US$30 million to US$40 million in additional Second Lien Notes for drilling and subsequent 2020 Note exchanges Provide a basket for up to US$50 million of [Read more]
ConocoPhillips Reports Second-Quarter 2018 Results and Continued Strong Execution of Disciplined 2018 Operating Plan
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported second-quarter 2018 earnings of $1.6 billion, or $1.39 per share, compared with a second-quarter 2017 loss of $3.4 billion, or ($2.78) per share. Excluding special items, second-quarter 2018 adjusted earnings were $1.3 billion, or $1.09 per share, compared with second-quarter 2017 adjusted earnings of $0.2 billion, or $0.14 per share. Special items for the current quarter were primarily driven by an unrealized gain on Cenovus [Read more]
Highfields Capital Announces Resignation of Daniel Farb from the Board of Directors of MEG Energy Corp.
BOSTON, July 24, 2018 /CNW/ -- Highfields Capital Management ("Highfields"), a value-oriented investment firm that manages private funds which own more than 9.9% of MEG Energy Corp. (TSX: MEG) ("MEG Energy" or the "Company") shares, today announced that Daniel S. Farb has resigned from the Board of Directors of MEG Energy, effective immediately. Mr. Farb, a Managing Director of Highfields, was appointed to MEG Energy's Board on December 1, 2017. "I served on the MEG Energy Board for [Read more]