CALGARY, Dec. 11, 2018 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce the Company's Board of Directors has approved an initial 2019 capital budget of $180 million. TORC's strategic objectives associated with the 2019 capital budget are consistent with the Company's long term objectives of achieving disciplined per share growth in combination with maintaining financial flexibility while paying a sustainable dividend. TORC's 2019 capital budget [Read More…]
Headlines
‘Part of the solution:’ Alberta seeks proposals to build new refinery
EDMONTON - Alberta Premier Rachel Notley says the province is seeking expressions of interest in building a new refinery. Notley says a new refinery makes sense for Alberta where oil is being sold at bargain basement prices due to a glut and lack of pipeline capacity to get it to market. While the rest of the world sells its oil at about $50 per barrel, Notley has said Alberta fetches only $10. She says the successful refinery proposal will create jobs and will include [Read More…]
Alberta government releases report on reviving province’s natural gas industry
"Traditional markets for Alberta natural gas are oversupplied. Prices, and therefore industry and government revenues, are crushingly low and have been increasingly volatile locally since the summer of 2017." That's the first sentence in a report released yesterday by the Alberta government discussing the shape of the province's natural gas industry. The report is the the work of the government appointed Natural Gas Advisory Panel who's mandate was to provide advice and recommendations to the [Read More…]
Enbridge Inc. Announces 10 Percent Quarterly Dividend Increase for 2019
CALGARY, Dec. 11, 2018 /CNW/ - Enbridge Inc. (TSX, NYSE: ENB) (Enbridge or the Company) announced today that its Board of Directors has declared a quarterly dividend of $0.73800 per common share, payable on March 1, 2019 to shareholders of record on February 15, 2019. The declared dividend represents a 10 percent increase from the prior quarterly rate and the twenty-fourth consecutive year in which the Company has increased its common share dividend. DIVIDEND DECLARATION On December 10, [Read More…]
Enbridge Completes 2018 Strategic and Financial Outlook; Reaffirms 10% Annual Growth Guidance Through 2020 and Announces 10% Dividend Increase for 2019
CALGARY, Dec. 11, 2018 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) today announced an update to its strategic plan and longer range financial outlook. The following summarizes the key elements of the updated plan and related actions, which will be further discussed at the Company's investor conference today in New York. Highlights A 10% increase in the Company's common share dividend to $2.95 annually, effective the first quarter of 2019. Re-affirmation of the [Read More…]
Cenovus’s 2019 budget demonstrates cost leadership and capital discipline
CALGARY, Alberta, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) remains committed to increasing shareholder value through cost leadership, capital discipline and safe and reliable operations. These commitments, in combination with the company’s high-quality upstream assets and joint ownership in strong refining assets, are expected to further strengthen Cenovus’s ability to generate free funds flow and continue deleveraging its balance sheet in 2019. Cenovus plans [Read More…]
Tailpipes through the bend of a horizontal well improve production and are becoming a standard practice for unconventional horizontal wells
Artificial lift systems under-perform when faced with unstable slug flows from a horizontal wellbore. Slug flows bring solids issues and pump gas interference which increases operating expenses from poor runtime, excessive workover costs, and inadequate production drawdown. Five years ago, the HEAL System was developed by a producer to address slug flow challenges. Its capability to provide desired production drawdown with artificial lift system reliability has improved horizontal well [Read More…]
Crew Energy Inc. Announces 2019 Capital Budget and Guidance
CALGARY, Dec. 10, 2018 /CNW/ - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") today is pleased to announce the Company's 2019 capital expenditure budget, approved by Crew's Board of Directors. With continued volatility and weakness in Canadian oil and natural gas prices, the Company believes it is prudent to develop a plan that can be adjusted dependent on commodity prices. Crew will continue to closely monitor prices and differentials and will adhere to a disciplined and conservative [Read More…]
Athabasca Oil Corporation Announces $265 Million Leismer Infrastructure Transaction, Preliminary 2019 Capital Guidance of $95 – $110 Million and Streamlined Cost Structure
CALGARY, Alberta, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to provide an update on its midstream process, preliminary 2019 capital guidance expectations and its recent reductions in corporate costs. Strategic Infrastructure Transaction Athabasca has entered into an agreement with Enbridge Inc. (“Enbridge”) for the sale of its Leismer pipelines and Cheecham storage terminal (“Leismer Infrastructure Transaction”). Enbridge [Read More…]
Husky Energy offers apology for largest ever oil spill off Newfoundland coast
ST. JOHN'S, N.L. - Husky Energy is apologizing for Newfoundland's largest-ever oil spill last month, which saw 250,000 litres leak into the ocean. The huge spill of oil, water and gas happened while Husky Energy's SeaRose platform was preparing to restart production during a fierce storm that was, at the time, the most intense in the world. In a statement Monday, the company says it is "deeply sorry" for the incident and is committed to learning from it and putting measures in place "to [Read More…]
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