CALGARY - A subsidiary of Korea National Oil Corp. is tripling its staff count and adding experienced executives as it reactivates its BlackGold oilsands project in northern Alberta. Harvest Operations Corp. says it has hired former Cenovus Energy Inc. executive Paul Vander Valk as chief operating officer for oilsands and former Pengrowth Corp. executive Jim Causgrove as chief operating officer for conventional operations. Spokesman Greg Foofat says the number of staff associated [Read more]
Headlines
Inter Pipeline Reports Record 2017 Financial Results
CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today financial and operating results for the three and twelve month periods ended December 31, 2017. 2017 Highlights Generated record funds from operations (FFO) of $991 million, a 17 percent increase over 2016 Net income increased by 10 percent to a record $527 million for the year Declared annual cash dividends of $610 million, or $1.63 per share Conservative annual payout [Read more]
Harvest Operations Corp. Reports 2017 Year End Results
CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Harvest Operations Corp. (“Harvest” or the “Company”) announced its financial and operating results for the fourth quarter and full year ended December 31, 2017. This press release is an overview of the fourth quarter and full year results for 2017 and should be read with the audited consolidated financial statements and Management’s Discussion and Analysis (MD&A) for the fourth quarter and full year ended December 31, 2017 available on [Read more]
Why we are fighting: AER president and CEO Jim Ellis
CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- It’s a disturbing picture: oil and gas companies incentivized to walk away from thousands of wells, leaving behind the mess; receivers of bankrupt companies selling off the good assets and casting aside the bad ones; Albertans and Canadians being forced to bear the multimillion dollar costs of cleaning it all up. In Alberta, we live by a simple rule: if you’re going to profit from our energy resources, you must be responsible and properly [Read more]
TransCanada Announces $2.4 Billion Expansion to Increase Market Access for WCSB Supply
CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today that it will move forward with a $2.4 billion expansion of its NGTL System to connect incremental supply and expand basin export capacity by one billion cubic feet of natural gas per day (Bcf/d) at the interconnection with its Canadian Mainline. NGTL recently completed an open season for existing and export capacity at the Empress/McNeill Export Delivery [Read more]
Birchcliff Energy Ltd. Announces Unaudited 2017 Year-End and Fourth Quarter Results, 2017 Reserves Highlights and 2018 Capital Program
CALGARY, Alberta, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“Birchcliff”) (TSX:BIR) is pleased to announce its unaudited 2017 year-end and fourth quarter financial and operational results, highlights from its independent reserves evaluations effective December 31, 2017 and its 2018 capital expenditure program. Birchcliff is also pleased to provide an operational overview and update. Message to Shareholders Birchcliff achieved record quarterly average production of 80,103 boe/d [Read more]
TransCanada Reports Record Financial Results for 2017
CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) today announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per [Read more]
Encana delivers strong fourth quarter and 2017 results; company announces $400 million share repurchase program
CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- (TSX:ECA) (NYSE:ECA) Encana delivered outstanding financial and operating results in the fourth quarter to close a year of strong, consistent performance. The company met or exceeded its 2017 guidance targets, generated net earnings of $827 million, cash from operating activities of $1.1 billion and expanded its non-GAAP cash flow margin by 81 percent from 2016. Encana is positioned to meet or exceed the targets outlined in its five-year [Read more]
Cenovus reports solid 2017 results
CALGARY, Alberta, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) delivered strong cash from operating activities and adjusted funds flow in 2017. Through its continued focus on capital discipline and reliable operational performance, the company generated almost $1.3 billion in free funds flow last year. Cenovus also completed the divestitures of its legacy conventional oil and natural gas assets within its expected timeframe. Divestiture proceeds and cash on hand [Read more]
The Alberta Energy Regulator responds to changes in the oil and gas industry
Part of the AER’s new focus is to move to risk informed decisions and informed conversations – rather than prescribed interactions. This involves exploring different ways to approach services, moving away from prescriptions towards delivering outcomes using a collaborative approach and leveraging technological innovations. The broad journey the AER is on is to focus on the objectives that a company may want to achieve or need to achieve and make risk informed decisions that allow [Read more]