CALGARY, Dec. 7, 2017 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to announce that it has closed its previously announced public offering of cumulative redeemable minimum rate reset class A preferred shares, Series 21 (the "Series 21 Preferred Shares") for aggregate gross proceeds of $400 million (the "Offering"). The Offering was announced on November 28, 2017 when Pembina entered into an agreement with a syndicate of underwriters co-led [Read more]
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Baytex Announces 2018 Budget and Board Succession
CALGARY, Alberta, Dec. 07, 2017 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX:BTE) (NYSE:BTE) announces that its Board of Directors has approved a 2018 capital budget of $325 to $375 million, which is designed to generate average annual production of 68,000 to 72,000 boe/d. Commenting on the announcement, Ed LaFehr, President and Chief Executive Officer, said: “Our 2018 budget builds on the operational momentum established in 2017 which has positioned our business for success in [Read more]
Canada’s Desjardins lifts temporary halt on pipeline lending
Canadian lender Desjardins Group has lifted a moratorium on loans for energy pipeline projects, CBC News reported on Wednesday, citing Canadian Press. Chief Executive Guy Cormier said the credit union would continue to live up to its agreements with energy companies after extensive consultations with supporters and opponents of the sector over the past four months, according to the report. Desjardins was not immediately available for a comment outside regular business hours. Desjardins, [Read more]
Chevron Announces $18.3 Billion Capital and Exploratory Budget for 2018
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE:CVX) today announced a 2018 capital and exploratory spending program of $18.3 billion. This figure includes $5.5 billion for the company’s share of expenditures by affiliated companies. “Our 2018 budget is down for the fourth consecutive year, reflecting project completions, improved efficiencies, and investment high-grading,” said Chairman and CEO John Watson. “We’re fully funding our advantaged Permian Basin position and [Read more]
Athabasca Oil Corporation Provides Operations Update and 2018 Outlook
CALGARY, Alberta, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX:ATH) (“Athabasca” or the “Company”) is pleased to provide an operations update and 2018 outlook. Highlights include: Balanced 2018 Budget: $140 million capital budget ($70 million in each of Light Oil and Thermal Oil) aligned to $145 million funds flow (US$55 WTI) Production Growth: 2018 production outlook of 38,500 – 41,000 boe/d (87% liquids), representing 11% per share growth year-over-year [Read more]
Alberta Energy Regulator to ask tougher questions of oil well applicants
EDMONTON - Alberta's energy regulator is making changes that it hopes will keep bad operators out of the oilpatch. Jim Ellis of the Alberta Energy Regulator says his agency will start asking tougher questions of companies applying for a licence to operate. He says the regulator will look at the past performance of companies and directors before deciding to allow them to drill. The regulator will look at such things as bill payment and past regulatory compliance. [Read more]
New regulations set to cost Alberta large emitter upwards of$1.2 billion a year
CALGARY - Large carbon emitters in Alberta are expected to pay upwards of $1.2 billion a year in levies by 2020 under updated regulations announced Wednesday. The government, however, said its plan includes a phase-in period and significant funding assistance to make it easier for industry to adapt to the new regime, while offsets and credits mean government will take in closer to $800 million. Environment Minister Shannon Phillips said the new regulations are intended to [Read more]
Kinder Morgan Canada Limited Launches $200 Million Bought Deal Preferred Share Offering
CALGARY, ALBERTA--(Marketwired - Dec. 6, 2017) - Kinder Morgan Canada Limited (the "Company") (TSX:KML) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by CIBC Capital Markets, Scotiabank, RBC Capital Markets and TD Securities (together, the "Underwriters") pursuant to which the Underwriters have agreed to purchase from the Company, 8,000,000 cumulative redeemable minimum rate reset preferred shares, Series 3 (the "Series 3 Preferred Shares") at [Read more]
Tidewater Midstream and Infrastructure Ltd. Enters Into Agreement With TransAlta to Construct an Inter-Alberta Pipeline Network supported by a 15 year Take or Pay, Proposed Issuance of Senior Unsecured Notes, Escrow Close of Deep Basin and Montney Region Acquisition and Closing of Credit Facility Increase
CALGARY, Alberta, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Agreement with TransAlta to construct Inter-Alberta Pipeline Network Tidewater Midstream and Infrastructure Ltd. (“Tidewater”) (TSX:TWM) and TransAlta Corporation (“TransAlta”) (TSX:TA) (NYSE:TAC) announced today that the two companies have entered into a Letter of Intent (“LOI”) for Tidewater to construct a 120 km natural gas pipeline from its Brazeau River Complex (“BRC”) to TransAlta’s generating units at Sundance and Keephills. The [Read more]
Free Info Session: How to find the best acquisition, merger or new business opportunities to support your company’s 2018 growth plans
Commodity prices, Crown land sale results, and an abundance of capital waiting on the sidelines for the right opportunity are among the signs that momentum is building toward growth and increased activity in the WCSB for 2018. Are you ready to be a part of it? XI Technologies (XI) is pleased to announce a free info session which will take place Thursday, December 14, 2017. The session will focus on workflows and tools within XI’s AssetBook that can help operators to research, screen and [Read more]