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]
Headlines
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]
Cenovus makes oilsands cuts to avoid low prices, ‘not for charity,’ says CEO
CALGARY - Cenovus Energy Inc. says it is cutting oilsands production, putting more barrels in storage, ramping up rail shipments and may delay producing from a nearly completed expansion project to avoid current steep price discounts. The cutbacks will likely help relieve a glut of oil in Western Canada blamed on not enough export pipeline space, but CEO Alex Pourbaix said Wednesday the Calgary-based company is doing it strictly for the benefit of its shareholders. "We're not going to [Read more]
NEB energy forecast calls for more clean power and more oil output by 2040
CALGARY - The National Energy Board says renewable sources of electricity in Canada will grow over the next 20 years but so will Canadian oil and natural gas production. In a new report, the national regulator says Canadians will learn to use less energy, even as the economy grows, through to 2040. Under its reference or base case, the NEB predicts total Canadian electricity generation will increase by about 12 per cent from 2017 to 2040, with most of the new sources from natural gas, wind [Read more]
Alberta premier tells B.C. steelworkers jobs at risk without Trans Mountain
KAMLOOPS, B.C. - Alberta Premier Rachel Notley says it's "just dumb" that the Canadian economy is losing millions of dollars a day because the province can't get its oil to world markets. Notley took her message on the importance of the Trans Mountain pipeline expansion to steelworkers meeting in Kamloops, B.C., Wednesday. She warned them that jobs across the country — including theirs — are at risk every day the Trans Mountain project doesn't go ahead. She repeated her oft-made [Read more]
Pieridae Receives Permit to Construct the Goldboro LNG Facility
CALGARY, Alberta, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (PEA-TSXV) welcomes the decision of the Nova Scotia Utility and Review Board to issue the permit to construct the Goldboro LNG Facility. Pieridae will now proceed diligently to satisfy each of the associated conditions of that permit and to commence the construction of the Goldboro LNG Facility as soon as a positive financial investment decision is taken by Pieridae. In anticipation of the commencement of construction, [Read more]