CALGARY, April 26, 2018 /CNW/ - Highlights (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Achieved normalized EBITDA1 of $223 million in the first quarter of 2018; Achieved normalized funds from operations1 of $169 million in the first quarter of 2018; Received regulatory approval from Maryland Public Service Commission (PSC of MD) for the approximately $9 billion transformational pending acquisition of WGL Holdings, Inc. (WGL Acquisition); [Read more]
Headlines
ConocoPhillips Reports First-Quarter 2018 Results; Strong Performance on Delivering Disciplined Plan
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE:COP) today reported first-quarter 2018 earnings of $0.9 billion, or $0.75 per share, compared with first-quarter 2017 earnings of $0.6 billion, or $0.47 per share. Excluding special items, first-quarter 2018 adjusted earnings were $1.1 billion, or $0.96 per share, compared with a first-quarter 2017 adjusted loss of $0.2 billion, or ($0.14) per share. Special items for the current quarter were primarily driven by premiums on early debt retirement and [Read more]
Husky Energy Reports First Quarter 2018 Results
CALGARY, Alberta, April 26, 2018 (GLOBE NEWSWIRE) -- Husky Energy (TSX:HSE) generated funds from operations of $895 million in the first quarter, leading to free cash flow of $218 million. Net earnings were $248 million, up 250 percent compared to $71 million in the same period a year ago. “Despite persistent discounts on Canadian heavy oil due to the ongoing lack of pipeline capacity, our integrated model showed its value,” said CEO Rob Peabody. “With almost 400,000 bbls/day in Canadian and [Read more]
Enbridge Completes Initial Assessment of Recommendations of Minnesota Administrative Law Judge on Line 3 Replacement Project
ALJ Acknowledges Need for the Project, but Route Recommendation Ignores State Analysis and Tribal Sovereignty CALGARY and HOUSTON, April 25, 2018 /CNW/ - After review of the Minnesota Administrative Law Judge (ALJ) recommendation on the Line 3 Replacement Project released earlier this week, Enbridge Inc. (TSX: ENB) (NYSE: ENB) and Enbridge Energy Partners, L.P. (NYSE:EEP) (collectively referred to as Enbridge) commented on the recommendations. The ALJ's recommendations are not binding on the [Read more]
Carbon court: Saskatchewan seeks Court of Appeal ruling on federal carbon tax
REGINA - The Saskatchewan government is asking the province's Appeal Court to rule on whether Ottawa can impose a carbon tax but the federal government says it is confident it will prevail. Saskatchewan wants to know whether Ottawa's plan to bring in a carbon price for provinces that don't have one violates the Constitution. Premier Scott Moe's government has consistently fought against the carbon tax, arguing the province's own climate-change plans are sufficient to reduce [Read more]
Trans Mountain opponent got federal money through Canada Summer Jobs: Tories
OTTAWA - The federal Liberal government found itself taking fire over the stalled Trans Mountain pipeline expansion from opposite flanks Wednesday: accused of helping to finance pipeline protesters on the one hand, and rigging the review system in favour of the project on the other. Conservative Leader Andrew Scheer led off question period with the revelation that one of the successful applicants to the government's Canada Summer Jobs program is a B.C. group looking to hire someone "to help [Read more]
U.S. energy shares outperform as companies begin to report
NEW YORK (Reuters) - After losing ground and underperforming the broad market in 2017, U.S. energy shares are climbing fast with oil prices and gaining attention from investors who think the trend may hold. Oil prices are near their highest since late 2014 thanks to strong demand and supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia. This will support energy earnings growth, investors and strategists say, particularly for [Read more]
Cenovus posts $914 million net loss amid challenging pricing conditions
CALGARY - Cenovus Energy posted a $914 million net loss from continuing operations in the first quarter, a bigger shortfall than analysts had expected, amid challenging pricing conditions for heavy grades of crude oil as well as natural gas. The Calgary-based company said the net loss amounted to 74 cents per share, which compared with a year earlier profit of $211 million or 25 cents per share. The loss included a $100-million non-cash asset impairment charge for its Clearwater [Read more]
Why partnerships with First Nations are integral to grow the Canadian LNG industry
Interview with: Alexandra Ballard, General Manager, First Nations Limited Partnership When it comes to the natural gas in Canada, there has been generally very strong support for the LNG industry from the First Nations, with one First Nations leaderstating the industry 'brings hope to members in terms of employment and capacity-building for future generations that come." With the Canada Gas and LNG Exhibition and Conference taking place next month, 14-16 May in Vancouver, Gastech [Read more]
Ikkuma Resources Corp. Announces Fourth Quarter and Year End 2017 Financial and Operating Results
CALGARY, April 25, 2018 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the three months and year ended December 31, 2017. Financial and operational information is set out below and should be read in conjunction with Ikkuma's December 31, 2017 audited annual financial statements and the related management's discussion and analysis ("MD&A"). In addition, the Corporation today announces the filing of its [Read more]