Regional News: Canada

 
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Cenovus Energy Reports Bigger Loss, Cuts Dividend
Thursday, February 11, 2016 Cenovus Energy Inc reports a bigger quarterly loss and also cuts its dividend and 2016 capital spending budget amid a prolonged slump in oil prices.

Rig Contractor Precision Drilling Suspends Dividend
Thursday, February 11, 2016 Precision Drilling Corp suspends its dividend payments as the company looks to boost its finances to cope with a 70% fall in oil prices.

Husky Energy Cuts More Jobs As Crude Oil Slump Exceeds 19 Months
Wednesday, February 10, 2016 Husky Energy Inc., the oil and natural gas producer controlled by Hong Kong billionaire Li Ka-Shing, has made another round of jobs cuts with the crude market slump exceeding 19 months.

Canadian Energy Companies Sell 'Jewels' To Keep Oil Sands Afloat
Tuesday, February 09, 2016 Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going.

Suncor Cuts Spending After Surprise Loss on Asset Writedowns
Thursday, February 04, 2016 Suncor Energy cuts spending by about 10% this year amid writedowns on the value of Canadian, Libyan and offshore assets.

  


MEG Energy Advances Oil Sands Maintenance as Low Prices Bite
Thursday, February 04, 2016 Canadian oil sands producer shifts maintenance at northern Alberta plant, saying the reservoir may naturally decline if weak prices persist.

MEG Energy's Quarterly Loss Widens
Thursday, February 04, 2016 Canadian oil sands producer MEG Energy Corp posts a bigger quarterly loss, hurt by lower oil prices and strong US dollar.

Imperial Oil Profit Misses Estimate as Plunging Crude Weighs
Tuesday, February 02, 2016 Canada's Imperial Oil reports a lower-than-expected quarterly profit, hurt by a prolonged slump in crude oil prices.

Alberta Holds Royalty Rates on Existing Wells, Oil Sands
Friday, January 29, 2016 Alberta's left-leaning government unveils a new oil and gas royalty framework that left rates unchanged on existing oil wells and the oil sands project, alleviating fears that costs will rise to punishing levels amid oil slump.

Oil, Gas Extraction Helps Boost Canada's Economy in November
Friday, January 29, 2016 Canadian economic growth edged up in November on an increase in oil and gas extraction, as well as greater wholesale and retail trade but the modest improvement still pointed to a fourth quarter that was likely weak at best.

Penn West Cuts 2016 CAPEX by 90%; Sees 30% Lower Output
Thursday, January 28, 2016 Canada's Penn West Petroleum Ltd cut its 2016 capital budget by as much as 90 percent to C$50 million from a year earlier, to weather a steep plunge in crude oil prices.

Canada Energy Regulator Says Oil Patch Woes Make Hiring Easier
Wednesday, January 27, 2016 A sharp downturn in Canada's oil patch that has caused thousands of layoffs has made it easier for the country's energy regulator to find and hire experienced staff, its chief executive said on Wednesday.

Husky Cuts Spending and Production Forecasts, Scraps Dividend
Wednesday, January 20, 2016 Husky Energy cut $549.07 million from its 2016 capital budget and slashed production guidance by 15,000 barrels of oil equivalent per day in the latest sign that Canadian producers are scrambling to cope with low oil prices.

Suncor Reaches Deal To Buy Canadian Oil Sands With Sweetened Offer
Monday, January 18, 2016 Suncor Energy has reached a deal to acquire rival Canadian Oil Sands by raising its all-stock offer.

Oil-Sands Slump Doesn't Feel So Bad for Canada Maintenance Crews
Thursday, January 14, 2016 The companies that clean the boilers, grease the machinery and tighten the bolts are skirting the carnage in Canada's energy patch.