CALGARY - Husky Energy (TSX:HSE) released a new five-year plan Tuesday that braces for lower oil prices while forecasting average production to grow by nearly five per cent annually. The Calgary-based company said it will aim to reduce its break-even price point by 2021 to US$32 per barrel from the current US$33.50. Crude settled Tuesday at $49.66 per barrel. "Over the next five years we see average production growth of about 4.8 per cent annually, approaching 400,000 barrels (of [Read more]
Headlines
‘Mark my words:’ Alberta’s Notley says pipeline coming no matter B.C. politics
EDMONTON - Alberta Premier Rachel Notley wants everyone to mark her words: the Trans Mountain pipeline expansion will go ahead to deliver her province's oil to the West Coast and jobs to British Columbia. Notley says she doesn't believe it makes much difference who is running B.C., because the federal government has already approved the Kinder Morgan (TSX:KML) project. "The decision has been taken," she said Tuesday when asked about the pipeline as she was announcing a new [Read more]
B.C. NDP’s Horgan gathers caucus to ratify deal to govern with help of Greens
VICTORIA - British Columbia's New Democrats and Greens signed a four-year political manifesto Tuesday with a long list of ambitions to run the province, including a new voting system and a ban on corporate and union donations. It also seeks to stop the Kinder Morgan's $7.4 billion pipeline expansion project and require further reviews of the $8.8 billion Site C hydroelectric dam. But the unprecedented political agreement for an NDP minority government will have to wait until [Read more]
Kinder Morgan Canada Limited Completes Initial Public Offering
CALGARY, Alberta--(BUSINESS WIRE)--Kinder Morgan Canada Limited (TSX:KML) (the Company) and Kinder Morgan, Inc. (NYSE: KMI) (Kinder Morgan) announced today the completion of the initial public offering (the Offering) of 102,942,000 restricted voting shares of the Company (restricted voting shares) at a price to the public of $17.00 per share (the Offering Price) for total gross proceeds of approximately C$1.75 billion. The proceeds of the Offering will be used by the Company to indirectly [Read more]
Kinder Morgan Canada shares fall in debut amid political uncertainty in B.C.
CALGARY - British Columbia's NDP and Greens are vowing to bring the Trans Mountain expansion to a halt should they form government, one of several promises that could have widespread ramifications on the business community that extend beyond the pipeline project. From B.C. to Bay Street, the alliance formalized Tuesday between the two parties served as a potential foreshock to the private sector. Kinder Morgan Canada, the proponent behind the Trans Mountain expansion, made a [Read more]
Trudeau stands by Kinder Morgan despite changing politics in B.C.
ROME - Prime Minister Justin Trudeau is standing by the Kinder Morgan pipeline project, even as the New Democrats and Greens in B.C. are teaming up to fight it. "The decision we took on the Trans Mountain pipeline was based on facts and evidence on what is in the best interests of Canadians and indeed, all of Canada," Trudeau said Tuesday in Rome at a joint news conference with Italian Prime Minister Paolo Gentiloni. "Regardless of the change in government in British Columbia or [Read more]
Point Loma Resources Announces First Quarter Financial and Operating Results
CALGARY, AB--(Marketwired - May 30, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to report financial and operating results for the three months ended March 31, 2017. Highlights of the period and additional updates are summarized below: HIGHLIGHTS Financial Three Months ended March 31, 2017(1) Three Months ended December 31, 2016 ($ thousands, except share amounts) Gross [Read more]
Trilogy Energy Corp. Completes Sale of Certain Assets in the Grande Prairie Area of Alberta for $50 Million
CALGARY, May 30, 2017 /CNW/ - Trilogy Energy Corp. ("Trilogy") (TSX – TET) is pleased to announce that it has completed its previously announced sale of certain Valhalla assets in the Grande Prairie area of Alberta for cash consideration of $50 Million, with the proceeds to be used to reduce Trilogy's indebtedness under its revolving credit facility. About Trilogy Trilogy is a petroleum and natural gas-focused Canadian energy corporation that actively develops, produces and sells natural [Read more]
Paramount Resources Ltd. Closes the Sale of its Oil and Gas Properties in the Valhalla Area of Alberta for $150 Million
CALGARY, May 30, 2017 /CNW/ - Paramount Resources Ltd. ("Paramount") (TSX: POU) is pleased to announce that it has closed its previously announced sale of its oil and gas properties in the Valhalla area of Alberta for cash consideration of approximately $150 million. About Paramount Paramount is an independent, publicly traded, Canadian energy company that explores and develops unconventional and conventional petroleum and natural gas prospects, including long-term unconventional [Read more]
Ikkuma Resources Corp. Announces First Quarter 2017 Financial and Operating Results
CALGARY, May 30, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the three months ended March 31, 2017. Selected financial and operational information is set out below and should be read in conjunction with Ikkuma's interim condensed financial statements and the related management's discussion and analysis ("MD&A") for the three months ended March 31, 2017. Ikkuma's condensed interim financial [Read more]