CALGARY - The cost of looking after hundreds of wells, pipelines and other oilfield gear left behind by bankrupt Lexin Resources Ltd. has exceeded $2 million and the bills continue to roll in, says Alberta's Orphan Well Association. The association was handed responsibility for nearly 1,100 wells plus associated equipment after the Alberta Energy Regulator took the unusual step last February of shutting down all Lexin operations. The AER accused the Calgary-based oil and gas [Read more]
Headlines
Granite Oil Corp. Reports Third Quarter 2017 Results and Provides Corporate Update
CALGARY, Alberta, Nov. 09, 2017 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO) (OTCQX:GXOCF) is pleased to announce its unaudited financial and operating results for the three and nine months ended September 30, 2017. Third Quarter 2017 Financial and Operating Highlights Selected financial and operating information is outlined below and should be read with Granite’s unaudited interim consolidated financial statements and related Management’s Discussion and [Read more]
Third Quarter Results: Freehold Royalties Increases 2017 Production Guidance
CALGARY, Alberta, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced third quarter results for the period ended September 30, 2017. Results at a Glance Three Months Ended Nine Months Ended September 30 September 30 FINANCIAL ($000s, except as noted) 2017 2016 Change 2017 2016 Change Royalty and other revenue 33,938 32,923 3 % 113,459 90,075 26 % Net income (loss) 103 [Read more]
Prairie Provident Announces Third Quarter 2017 Financial and Operating Results
CALGARY, Alberta , Nov. 09, 2017 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (TSX:PPR) ("Prairie Provident," "PPR" or the "Company") is pleased to announce its operating and financial results for the three and nine months ended September 30, 2017, and to provide an operational update. PPR’s consolidated financial statements ("Financial Statements") and related Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2017 are available on its [Read more]
Inter Pipeline Announces Record Third Quarter 2017 Financial Results
CALGARY, Alberta, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today record financial and strong operating results for the three and nine month periods ended September 30, 2017. Third Quarter Highlights Funds from operations (FFO) totalled $269 million, a new quarterly record and a 27 percent increase over third quarter 2016 Generated record net income for the quarter of $143 million, a 17 percent increase over the same period in 2016 [Read more]
Pengrowth Completes Transformation Into Thermal Oil and Montney Gas Focused Company
CALGARY, ALBERTA--(Marketwired - Nov. 9, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to announce its third quarter 2017 financial and operating results and the completion of its strategic objective of focusing its asset base to its two growth assets. Pengrowth's long-term development plan is centered on operational excellence on a concentrated asset portfolio with long-life reserves, reduced cost structures, reduced long-term liabilities and reduced infrastructure costs. [Read more]
Inter Pipeline Announces Increase to Monthly Cash Dividend
CALGARY, Alberta, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today that its board of directors has approved a 3.7 percent increase to its monthly cash dividend from $0.135 to $0.14 per share. This represents Inter Pipeline’s fifteenth consecutive dividend increase. On an annualized basis, dividends will increase by $0.06 per share from $1.62 to $1.68. Shareholders of record as of November 22, 2017 will be eligible for Inter Pipeline's new [Read more]
Suncor Energy’s Steve Williams appoints Mark Little as Chief Operating Officer
CALGARY, ALBERTA--(Marketwired - Nov. 9, 2017) - Steve Williams, chief executive officer at Suncor, today announced the appointment of Mark Little, currently president, Upstream, as chief operating officer (COO). As Suncor's COO, Mark will be responsible for all of the operations and many of the corporate services of the company. This appointment comes on the eve of first oil at Suncor's Fort Hills mine and reflects the continuing focus to capture value from the increased integration of [Read more]
Column: 75,000 high-paying Ontario jobs go poof
Question: How do you kill 75,000 jobs and turn your valuable location into a disadvantage? Answer: If you’re the Ontario government, you do it first, by starting a transition to renewable energy driven by politicians without any cost-benefit analyses. Second, when people with expertise in the energy and power sectors give advice on technical issues, for example—how much duplicate power backup Ontario would need to phase out coal and replace it with intermittent and costlier wind, solar and [Read more]
Keystone XL pipe has adequate commercial support: TransCanada
CALGARY, Alberta (Reuters) - TransCanada Corp (TRP.TO) has received adequate support from crude oil shippers on its long-delayed Keystone XL pipeline, but the parties still need to work out specific terms, the company said on Thursday as it reported a rise in quarterly earnings. The pipeline, which would carry 830,000 barrels per day of Canadian crude to U.S. refineries, has been delayed for more than eight years by regulatory hurdles as North American energy projects face increasing [Read more]