The estimated cost of the Heartland Petrochemical Complex (HPC) is now approximately $4 billion, with the majority of incremental costs expected to be incurred in 2021 and 2022, says Inter Pipeline Ltd.
May 7, 2020, 10:13 AM MDT
Canadian Natural Resources Limited is cutting an additional $280 million from its 2020 capital budget but unlike many of its peers in Canada and the United States the company has opted to maintain its dividend at current levels.
May 7, 2020, 11:14 AM MDT
Although it reported a Q1 net loss of $1.28 billion, Canadian Natural Resources Limited delivered “top tier operational results” while producing the maximum allowable volumes under Alberta’s curtailment program, achieving record quarterly production of approximately 1.18 million boe/d.
May 7, 2020, 11:45 AM MDT
Suncor Energy Inc.’s top executive says an industry recovery from the havoc wrecked by COVID-19 demand destruction and crude market oversupply likely won’t take hold until 2022 at the earliest.
May 7, 2020, 12 AM MDT
Murphy Oil Corporation has further ramped down capital spending for the third time this year, now to half its original US$1.45-billion guidance, as the COVID-19 pandemic continues to take a heavy toll on the industry.
May 7, 2020, 11:01 AM MDT
Join us on Thursday, May 12 at 2 pm EST for an important discussion about the path forward in the environmental due diligence industry.
May 7, 2020, 6 AM MDT
Thanks to a handful of major deals valued at over $1 billion, 2019 saw the largest overall M&A spend in the upstream sector over the past five years for Latin American assets.
May 7, 2020, 6 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
Seven Generations Energy Ltd. plans to refocus its 2020 development drilling program towards the company’s gas-weighted assets, given the weakness in liquids pricing and the relative strength in natural gas forward pricing.
May 7, 2020, 10:48 AM 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
Enbridge Inc. says it has agreed to sell 49 per cent of its 50 per cent interest in a three early stage French offshore wind farms to Canada Pension Plan (CPP) investments.
May 7, 2020, 11:19 AM MDT
During this period of weak prices, ARC Resources Ltd. will reduce operational output at its light oil and condensate-weighted properties.
May 7, 2020, 6:13 AM MDT
As a result of the current weakness and uncertainty in the price of oil, starting in April Gear Energy Ltd. chose to shut-in the majority of its production and immediately pursue reductions to the variable costs of the business in an effort to maximize funds from operations.
May 7, 2020, 1:53 PM MDT
Kelt Exploration Ltd. says it is taking measures to reduce production levels to protect against selling oil at negative margins and to preserve value.
May 7, 2020, 6:45 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
Tervita Corporation’s focus on continuous improvements to streamline the business over the last three years materially enhances resilience and positions the company to navigate through the current downturn, says the company's top executive.
May 7, 2020, 8:41 AM MDT
Drilling rig activity in Western Canada and the Top 10 active operators as of May 7, 2020, as reported this morning by Rig Locator.
May 7, 2020, 11:30 AM MDT
After three years of solid growth, oilsands mining service provider North American Construction Group Ltd. is seeing a slowdown resulting from the COVID-19 pandemic.
May 7, 2020, 9:21 AM MDT
May 7, 2020, 11:03 AM MDT
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