Cathedral Energy Services Ltd. is postponing the filing of its interim financial statements and related management’s discussion and analysis for the interim period ended March 31, 2020, due to the ongoing COVID-19 pandemic.
May 11, 2020, 10:12 AM MDT
Pembina Pipeline Corporation recorded first quarter 2020 earnings of $314 million, in line with $313 million in the comparable 2019 period.
May 8, 2020, 11:17 AM MDT
Enerflex Ltd. realized improved new equipment bookings and high operational effectiveness in Q1 2020 versus Q1 2029. However, in light of COVID-19 impacts for the sector, management is implementing business and financial actions to mitigate energy market downside risk.
May 8, 2020, 11:14 AM MDT
Total Energy Services Inc. has made “unprecedented adjustments” to its North American cost structure in arguably the most challenging operating environment in its 24 years, says the company’s chief executive.
May 7, 2020, 2:54 PM MDT
Enbridge Inc. reported improved adjusted earnings in the first quarter of 2020 while posting a $1.43 million loss due to a non-cash impairment of $1.74 million of its investment in DCP Midstream and non-cash unrealized derivative fair value losses of $1.96 million.
May 7, 2020, 11:05 AM MDT
In response to the current shift in commodity prices, Advantage Oil & Gas Ltd. has lowered 2020 capital guidance to between $130 million and $145 million, with plans to moderate liquids growth and focus spending on the highest rate-of-return investments at Glacier.
May 7, 2020, 7:09 AM MDT
STEP Energy Services Ltd. is postponing the filing of interim financial statements for the three months ended March 31, 2020.
May 6, 2020, 7:07 AM MDT
AKITA Drilling Ltd. had four rigs running in Canada at the end of March, which has since decreased further to one rig at the end of April.
May 6, 2020, 9:05 AM MDT
Gibson Energy Inc. witnessed a “profound shift” near the end of the first quarter in the near- to- medium-term outlook for the global energy industry with the outbreak of COVID-19, says management.
May 5, 2020, 9:55 AM MDT
TC Energy Corporation posted first quarter 2020 net income attributable to common shares of $1.15 billion ($1.22 per share), up from $1 billion ($1.09 per share) in the same period in 2019.
May 1, 2020, 9:36 AM MDT
Husky Energy Inc. will take a slow and cautious approach to increasing activity and spending once macroeconomic conditions begin to improve, says president and CEO Rob Peabody.
April 30, 2020, 12 AM MDT
Pason Systems Inc. now intends to spend approximately $10 million in capital expenditures in 2020, which includes the capitalized portion of R&D, down from $25 million announced at the beginning of the year.
April 30, 2020, 3:07 PM MDT
Precision Drilling Corporation’s Q1 2020 results were only nominally impacted by the oil-price collapse, says top brass, but the company expects a significant and sustained reduction in customer demand for oil and gas services well into next year.
April 30, 2020, 7:18 AM MDT
Husky Energy Inc.’s top executive says the company continues to take the needed steps to navigate through the current treacherous industry conditions but warns that an economic recovery and a rebound for the energy sector won’t be happening anytime soon.
April 29, 2020, 10:34 AM MDT
In response to the continued deterioration of industry conditions since March 27, 2020, Calfrac Well Services Ltd. has implemented further reductions to the number of staffed fleets capable of being deployed in its North American operations, which have decreased from 19 as of Feb. 29, 2020 to five fleets at present.
April 29, 2020, 3:34 AM MDT
Secure Energy Services Inc. will continue to control what it can control during the current industry cycle, says top brass. And while things such as commodity prices and demand, supply and inventory, as well as how those factors will “shake out” long-term are beyond the company’s control, other things are within its purview.
April 28, 2020, 11:22 AM MDT
Mullen Group Ltd. was performing ahead of last year, with the company on target to meet its expectations for the first quarter of 2020 right up until mid-March, says top brass. Then COVID-19 severely impacted many business units late in Q1, including those tied to the upstream oil and gas sector.
April 23, 2020, 11:19 AM MDT
All third-party infrastructure is now in place at the Pipestone gas plant and throughput has reached design capacity with volumes currently averaging 95 mmcf/d, says Tidewater Midstream and Infrastructure Ltd.
April 17, 2020, 8:53 AM MDT
Cathedral Energy Services Ltd.’s 2020 capital plan will be modest, and the company expects its net equipment additions (equipment additions less proceeds on equipment lost downhole) to be in the range of $nil to $2.5 million, depending on the level of lost-in-hole proceeds.
March 16, 2020, 9:13 AM MDT
Horizon North Logistics Inc. has announced plans to join with Dexterra Integrated Facilities Management to create a “pan-Canadian” support services company.
March 16, 2020, 10:48 AM MDT
Total Energy Services Inc. has suspended its dividend and slashed spending plans by more than half in light of “global economic uncertainty and market volatility” compounded by increasing concerns over the potential economic impact of the coronavirus and recent turmoil in global oil markets.
March 13, 2020, 10:32 AM MDT
STEP Energy Services Ltd.’s Canadian operations posted stronger adjusted EBITDA margins for both the 2019 fourth quarter and full year at 13 per cent of revenue (2018-nine per cent) and 18 per cent (2018-16 per cent) respectively.
March 13, 2020, 9:02 AM MDT
New assets placed into service in 2019, including the Pipestone Gas Plant and the acquisition of the Prince George Refinery, helped Tidewater Midstream and Infrastructure Ltd. post record adjusted EBITDA of nearly $40 million (12 cents per share) in the fourth quarter of 2019.
March 13, 2020, 11:01 AM MDT
Drilling operating days were up in Ensign Energy Services Inc.’s Canadian and American drilling segments year-over-year in 2019.
March 10, 2020, 8:44 AM MDT
AKITA Drilling Ltd. moved an AC pad heavy double drilling rig out of Canada to the Permian Basin in January 2020, bringing the company's total rig count in the U.S. to 18 rigs with 13 rigs located in the Permian Basin area where the company's presence continues to grow.
March 9, 2020, 8:39 AM MDT