Alvarez & Marsal Canada Inc. (“A&M”), in its capacity as Court appointed Receiver and Manager of Manitok Energy Inc. and Raimount Energy Corp. (collectively “Manitok”), will be launching a broadly marketed sales process for the assets of Manitok and has retained Peters & Co. Limited (“Peters & Co.”) as its exclusive marketing agent to assist in this process. The information memorandum and confidentiality agreement will be launching shortly. Data room access will be made [Read more]
Headlines
MEG Energy reports second quarter 2018 results, achieving new production record of 98,000 bpd in July with Phase 2B eMSAGP essentially complete
Increases 2018 production guidance and lowers non-energy operating cost per barrel guidance; remains on-track to reach 113,000 bpd in 2020 All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, Aug. 2, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG) today reported second quarter 2018 operating and financial results. Highlights include: Quarterly production volumes of 71,325 barrels per day, while completing planned maintenance activities. With strong first half [Read more]
TransCanada Announces Agreement to Sell its Share of Cartier Wind Energy
CALGARY, Alberta, Aug. 02, 2018 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it has entered into an agreement to sell its 62 per cent share of the Cartier wind power facilities, and its related operating entities, to Innergex Renewable Energy Inc. for approximately $630 million. Located in Québec, the Cartier assets include five wind farms with a total generating capacity of 590 megawatts, of which TransCanada’s share is 365 [Read more]
Athabasca Oil Corporation Announces 2018 Second Quarter Results
CALGARY, Alberta, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX:ATH) (“Athabasca” or the “Company”) is pleased to provide its 2018 second quarter results and an operations update. Athabasca is a uniquely positioned low-decline, oil-weighted producer with assets in the most active resource plays in Western Canada (Montney, Duvernay and oil sands). The second quarter marks solid operations in both Light Oil and Thermal Oil with strong funds flow growth over the prior [Read more]
ARC Resources Ltd. Reports Second Quarter 2018 Financial and Operational Results
CALGARY, Aug. 1, 2018 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC" or "the Company") is pleased to report its second quarter 2018 financial and operational results. Second quarter production averaged 127,879 boe per day with funds from operations totaling $204.4 million ($0.58 per share). ARC's unaudited condensed interim financial statements and notes ("financial statements"), as well as ARC's Management's Discussion and Analysis ("MD&A") as at and for the three and six months ended June [Read more]
Canada to soften carbon tax as firms fret about U.S. competition
Canada will soften the impact of a planned carbon tax on major emitters of greenhouse gases after businesses complained it would make them less competitive with the United States, officials said on Wednesday. The move underlines the challenges facing Canada as it tries to deal with Washington under U.S. President Donald Trump, who has slashed domestic corporate taxes and imposed tariffs on Canadian steel and aluminum. The Liberal government of Prime Minister Justin Trudeau - which took [Read more]
Enbridge Completes Asset Sales for Approximately $3.15 Billion in Cash Proceeds
CALGARY, Aug. 1, 2018 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today announced it has closed the previously announced agreements to sell its U.S. midstream businesses and monetize a portion of its renewables business for combined cash proceeds of approximately $3.15 billion. "We are pleased to have moved quickly to execute and close these transactions at strong valuations," said Al Monaco, President and Chief Executive Officer of Enbridge. "In addition, the [Read more]
Tourmaline Delivers Strong Q2 Free Cash Flow, Increases 2018 Exit Production Estimate and Increases Quarterly Dividend
CALGARY, Aug. 1, 2018 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the second quarter of 2018. HIGHLIGHTS Six month 2018 cash flow(1) of $624.5 million on EP capital spending of $464.3 million. Net debt(2) reduced by $85.0 million in Q2 2018 from Q1 2018 (5% reduction). Tourmaline has reduced net debt by $198.6 million in the first six months of 2018. Quarterly dividend will be increased by 11% to [Read more]
Crew Energy Inc. Announces Second Quarter 2018 Financial And Operating Results
CALGARY, Aug. 1, 2018 /CNW/ - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") is pleased to announce our operating and financial results for the three and six month periods ended June 30, 2018. Our Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and six month periods ended June 30, 2018 are available on Crew's website and filed on SEDAR. HIGHLIGHTS Production Ahead of Forecast: At 23,583 boe per day in Q2, average [Read more]
Hemisphere Energy provides operational update
TSX-V: HME - VANCOUVER, Aug. 1, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to provide an update on its drilling and field operations. Hemisphere has continued to show significant progress in production growth. During the three month period ended June 30, 2018, the Company achieved an average corporate production rate of over 1,050 boe/d (96% oil), based on field estimates. This growth in production represents a 22% increase over the [Read more]