Crescent Point Energy selling Saskatchewan midstream gas assets for $500 million

Crescent Point Energy selling Saskatchewan midstream gas assets for $500 million
CALGARY — Oil and gas producer Crescent Point Energy Corp. says it is selling Saskatchewan midstream assets for $500 million as part of a divestiture strategy adopted following a management shakeup last year. The Calgary company says it has struck a deal to sell nine natural gas processing facilities and two gas sales pipelines with total throughput capacity of more... Read More

Premier vows to fight for oilpatch as drillers forecast almost no growth in 2020

Premier vows to fight for oilpatch as drillers forecast almost no growth in 2020
CALGARY — Premier Jason Kenney vowed Wednesday to keep fighting for Alberta’s slumping oil and gas sector as the industry unveiled another disappointing drilling forecast and criticism surfaced from an unlikely source, the Swedish central bank. A sold-out crowd applauded several times as Kenney listed his government’s pro-industry moves and ended a 30-minute lunch hour speech with a stinging rebuke of Bloc Quebecois Leader Yves-Francois... Read More

Ensign Energy Services slashes dividend in half, reports $37.8M Q3 loss

Ensign Energy Services slashes dividend in half, reports $37.8M Q3 loss
CALGARY — Ensign Energy Services Inc. cut its dividend in half due to what it said was prevailing industry conditions as it reported a third-quarter loss of $37.8 million. The oilfield services company says it will pay a quarterly dividend of six cents per share, down from 12 cents, to allow it “pursue alternative uses of available cash.” The company... Read More

Alberta alters rules on oil production limits to spur more conventional drilling

Alberta alters rules on oil production limits to spur more conventional drilling
EDMONTON — Alberta is adjusting its rules on oil production limits to give companies incentive to drill more conventional wells. Energy Minister Sonya Savage says that starting immediately any oil produced from a new well will not be subject to the limits. The province expects the change will spur producers to drill hundreds of new wells and that each well will create about 145 jobs.... Read More

Enbridge reports earnings of $949 million in Q3, up from loss last year

Enbridge reports earnings of $949 million in Q3, up from loss last year
CALGARY — Enbridge Inc. says it earned $949 million in the third quarter, up from a loss of $90 million in the same quarter last year caused by a number of one-time charges. The Calgary-based company says adjusted earnings worked out to $1.12 billion, or 56 cents per share, for the quarter ending Sept. 30, up from $933 million, or 55 cents per share... Read More

Maple Leaf Foods to reduce environmental footprint and become carbon neutral

Maple Leaf Foods to reduce environmental footprint and become carbon neutral
MISSISSAUGA, Ont. — Maple Leaf Foods Inc. says it plans to reduce its environmental footprint and become carbon neutral. The company says its plan is based on reducing emissions and investing in environmental projects in Canada and the United States. It says the projects will support wind energy, forest protection and re-forestry, as well as the recovery of methane to reduce emissions... Read More

Stocks move higher in Toronto as financials, industrials and materials rise

Stocks move higher in Toronto as financials, industrials and materials rise
TORONTO — The heavyweight financial, industrial and materials sectors helped lift Canada’s main stock index higher in late-morning trading, while energy stocks lost ground. The S&P/TSX composite index was up 64.34 points at 16,746.26, In New York, the Dow Jones industrial average was up 3.30 points at 27,495.93. The S&P 500 index was down 0.94 points at 3,073.68, while the... Read More

Ovintiv name a ‘blank slate’ as Encana plans move to United States

Ovintiv name a ‘blank slate’ as Encana plans move to United States
CALGARY — The name Encana Corp. immediately brings to mind two things: energy and Canada. Ovintiv, with which the oil and gas producer plans to rechristen itself once it moves its headquarters to the United States next year, offers no hint of what the company does or where it’s from. Branding experts say that’s likely to be the point. “It’s kind of a blank slate, which appears to... Read More

TSX inches higher despite most Canadian companies missing expectations

TSX inches higher despite most Canadian companies missing expectations
TORONTO — Canada’s main stock index edged higher despite most corporate earnings missing expectations so far this quarter. The S&P/TSX composite index closed up 12.11 points at 16,681.92 on growth in the energy sector. In New York, the Dow Jones industrial average was up 30.52 points at 27,492.63. The S&P 500 index was down 3.65 points at 3,074.62, while the Nasdaq composite... Read More

Western oil prices slip as Keystone N.D. pipeline leak cleanup continues

Western oil prices slip as Keystone N.D. pipeline leak cleanup continues
CALGARY — Prices for Western Canadian Select oil continued to soften on Monday as TC Energy Corp. reported recovering about half the crude that leaked from its Keystone pipeline in North Dakota last week. Spokesman Terry Cuhna says about 4,300 barrels of oil have been recovered from the 9,120 barrels initially estimated to have leaked from the pipeline into a field near Edinburg,... Read More