Midstream

  • Tidewater Midstream Closes Unit Financing And Refinancing Plan

    Tidewater Midstream and Infrastructure Ltd. closed its refinancing plan, consisting of a $130 million increase in the size of its senior credit facility to $550 million and an approximately $92.5 million equity offering, fully funding the redemption of its $125 million senior unsecured notes due Dec. 19, 2022 and repayment of its $20 million second lien term loan due Oct. 31, 2022.‎

    August 16, 2022, 8:54 AM MDT

  • Plains Midstream Canada Pursuing Fort Saskatchewan Facility Expansion

    Plains Midstream Canada, a subsidiary of Plains All American, is exploring the expansion of its Fort Saskatchewan facility with strategic partners.

    August 16, 2022, 2:30 PM MDT

  • Refining Margins Drive Tidewater Midstream Second Quarter Performance

    Strong realized refining margins from Tidewater Midstream and Infrastructure Ltd.’s Prince George refinery contributed to consolidated net income of $18.8 million and adjusted EBITDA of $69.9 million in the second quarter of 2022. Adjusted EBITDA grew by approximately 34 per cent compared to the same period in the prior year, reported the company.

    August 11, 2022, 8:25 AM MDT

  • Keyera Posts Upswing In Processing Throughput In Q2

    The second quarter of 2022 saw Keyera Corp. grow processing throughput in both its gathering and processing and liquids infrastructure segments year-over-year.

    August 5, 2022, 7:03 AM MDT

  • Keyera CEO: KAPS Confidence Increasing, Lauds Competition Bureau Decision

    Weather-related limitations to productivity have played a role in cost estimates around the Key Access Pipeline System (KAPS) rising to about $900 million net to Keyera Corp., from a range of $800 million to $880 million.

    August 5, 2022, 11:30 AM MDT

  • Inflation, Weather Drive Increase In KAPS Cost: Keyera

    The Key Access Pipeline System (KAPS) is now over 70 per cent complete and the project is estimated to cost approximately $900 million, net to Keyera Corp. (previously $800 million to $880 million).

    August 4, 2022, 12 AM MDT

  • Pembina In Long-Term Agreement With Tourmaline

    Pembina Pipeline Corporation has now executed the previously referenced long-term agreements with a third leading northeast B.C. Montney producer, Tourmaline Oil Corp., which include the commitment of significant volumes from another multi-phase NEBC Montney development.

    August 4, 2022, 3:22 PM MDT

  • Energy Transfer Says Transportation Volumes Up In Q2, Capacity Expanding

    August 4, 2022, 12 AM MDT

  • AltaGas In $250 Million Hybrid Note Offering

    AltaGas Ltd. has priced an offering of $250 million of 7.35 per cent fixed-to-fixed rate subordinated notes, Series 2 due Aug. 17, 2082.

    August 4, 2022, 8:02 AM MDT

  • Gibson Confident In Future Edmonton Terminal Projects

    The development of the Trans Mountain expansion project gives Gibson Energy Inc.’s executive management optimism about future development at its Edmonton Terminal, but prospective customers are citing “clear visibility” on a pipeline in-service date as an important factor being weighed in their investment decisions.

    August 3, 2022, 9:01 AM MDT

  • AltaGas Announces Consideration Of Hybrid Subordinated Debt Securities Offering

    AltaGas Ltd. is considering an offering of hybrid subordinated debt securities under its short form base shelf prospectus dated Feb. 22, 2021.

    August 3, 2022, 9:22 AM MDT

  • Tidewater Midstream Announces Exercise Of Over-Allotment Option

    Tidewater Midstream and Infrastructure Ltd. announced that its syndicate of underwriters led by CIBC Capital Markets, National Bank Financial, RBC Capital Markets and ATB Capital Markets Inc. have fully exercised their over-allotment option to acquire an additional 6.31 million units at a price of $1.20 per unit for additional gross proceeds of $7.57 million. 

    August 3, 2022, 5:12 AM MDT

  • Gibson Revenue Surges For Q2

    Gibson Energy Inc. reported  revenue of $3.2 billion in the second quarter, a $1.52 billion or 91 per cent increase over the second quarter of 2021, a result of higher commodity prices increasing contribution from the Marketing segment.

    August 2, 2022, 2:30 PM MDT

  • AltaGas Sets New Global Exports Volume Record For LPGs

    AltaGas Ltd. exported a new Global Exports volume record of 110,845 bbls/d of cleaner burning LPGs to Asia in the second quarter of 2022, compared to 90,106 bbls/d for the same period in 2021.

    July 28, 2022, 10:17 AM MDT

  • Pembina Pipeline Receives Final Regulatory Approval For Joint Venture Transaction With KKR; KAPS Update

    Pembina Pipeline Corporation announced that the Canadian Competition Bureau has issued a no-action letter for the joint venture transaction announced on March 1, 2022, between Pembina and KKR to combine their respective western Canadian natural gas processing assets into a single, new joint venture entity (Newco).

    July 28, 2022, 6:24 AM MDT

  • Topaz Energy: CEO Discusses ‘Deal Flow’ Outlook

    Marty Staples, president and CEO of Topaz Energy Corp., was asked this morning on the company’s second quarter conference call about future deals, in particular the potential for larger deals in the second half of the year.

    July 27, 2022, 9:31 AM MDT

  • Topaz Acquiring Additional Peace River And Deep Basin Royalty Assets

    Topaz Energy Corp. has entered into definitive agreements with Tourmaline Oil Corp. for the purchase of newly created gross overriding royalty interests on approximately 0.2 million gross acres of developed and undeveloped land in the Peace River and Deep Basin play areas of Alberta, for total cash consideration of $52.0 million.

    July 27, 2022, 4:25 PM MDT

  • Tidewater Midstream Announces Transactions To Fund Junior Debt Repayment

    Tidewater Midstream and Infrastructure Ltd. announced a financing plan to fully fund the repayment of its $125 million senior unsecured notes due Dec. 19, 2022 and $20 million second lien term loan.

    July 27, 2022, 2:35 PM MDT

  • Tidewater Names Board Member

    In connection with the transaction and an investment by the Kicking Horse Funds of $16 million in the private placement, Thomas P. Dea will join Tidewater Midstream and Infrastructure Ltd.’s board of directors.

    July 27, 2022, 2:41 PM MDT

  • Topaz Cash Flow Surges

    Topaz Energy Corp. generated record cash flow of $95.4 million for Q2 2022, 29 per cent higher than Q1 2022 and 156 per cent higher than Q2 2021.  

    July 26, 2022, 2:31 PM MDT

  • Topaz Activity Update: Strong Development Activity Across Royalty Portfolio

    Topaz Energy Corp.’s Q2 2022 average royalty production of 16,676 boe/d increased three per cent from Q1 2022 (16,122 boe/d).

    July 26, 2022, 2:38 PM MDT

  • Kinder Morgan Quarterly Profit Climbs 20% On High Jet Fuel Demand

    July 21, 2022, 12 AM MDT

  • Advantage Q2 Production At 60,000 Boe/d

    Advantage Energy Ltd.’s production during the second quarter of 2022 increased to average approximately 60,000 boe/d (89 per cent natural gas, five per cent natural gas liquids and six per cent light and medium crude oil). 

    July 7, 2022, 6:28 AM MDT

  • Tidewater Midstream And Infrastructure Pleads Guilty To Charge Laid By The AER

    Tidewater Midstream and Infrastructure Ltd. has pled guilty to a charge laid against it by the Alberta Energy Regulator (AER) in October 2021.

    July 6, 2022, 1:07 PM MDT

  • AltaGas In Acquisition Of Remaining Petrogas Stake

    AltaGas Ltd. announced the purchase of 25.97 per cent equity ownership of Petrogas Energy Corp. from Idemitsu Canada Corporation, a wholly owned subsidiary of Idemitsu Kosan Co., Ltd., for total cash considerations of C$285 million.

    July 5, 2022, 3:14 PM MDT

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