CM - People & Companies - June 26, 2020Carbon Energy Corp. named Erich William Kirsch principal financial officer and principal accounting officer, effective June 11. Kirsch has served as SVP, finance and accounting since August 2019. Clean Energy Fuels Corp. elected Parker A. Weil director. Weil is vice chairman of investment banking at Cowen & Co. CONSOL Energy Inc. appointed Mitesh Thakkar CFO after his having served on an interim basis since Jan. 1. Mark Maki resigned from the board of DCP Midstream...
Jun 26, 2020
MI - Enbridge looks to diversify with more gas, some wind & sun - June 2020North America’s largest midstream company, Enbridge, Inc., plans to gradually transition its asset mix toward more natural gas and renewables, investing larger portions of its capital in those areas. The company currently earns 55% of its income from liquids pipelines and about 40% from gas and storage, with 4% from renewables. “If you look at the energy supply/demand balance globally, we as a company kind of mirror that,” CEO Al Monaco told Canada’s Financial Post. Enbridge has just...
Jun 17, 2020
MI - People & Companies - June 17, 2020Enbridge Inc. elected Stephen S. Poloz director. He was governor of the Bank of Canada from 2013 until June 2, as well as chairman of the bank. He had previously been president and CEO of Export Development Canada from 2011 to 2013. Trade Association GPA Midstream announced new officers elected to one-year terms. Its new board chairman is Bill Ward, SVP of commercial activity at Superior Pipeline. The chair-elect is John Poarch, president of ARM Energy Midstream/Salt Creek Midstream....
Jun 17, 2020
MI - People & Companies - May 27, 2020Kristie L. Colvin was appointed to the board of Enable GP, LLC, the general partner of Enable Midstream Partners, LP, by CenterPoint Energy Midstream Inc., whose parent company CenterPoint Energy, Inc., owns a 50% governance interest and a 40% economic interest in Enable GP. Colvin replaced Xia Liu, who resigned from the board on May 1, along with her departure from CenterPoint Energy as EVP and CFO, roles that now belong to Colvin. Enbridge Inc. announced the departure of SVP and chief...
May 27, 2020
MI - Debt market and China deals start 2020 with a bang - January 2020Energy businesses seem to spend millions like Mardi Gras parades toss around beads. But 2020 started with billions—billions in debt, billions from China and the continuing breakup of assets from a multibillion merger. Midstream companies issued $14 billion in senior notes, preferred units or bonds in the first 10 days of January—more than they did in the first five months of 2019. The transactions were focused on refinancing existing debt instead of funding a new surge in projects...
Jan 23, 2020
CS - Enbridge’s new $1B tranche brings debt closer to $70B mark - October 2019Enbridge Inc. announced the sale of $1 billion aggregate principal amount of 2.99% of senior unsubordinated unsecured notes due 2029 at 99.931 for a 2.998% yield to maturity. The new debt is part of the company’s medium-term notes program and brings the BBB+ issuer’s total long-term debt outstanding to around $68 billion, including over $49 billion in senior bonds and notes and about $6.7 billion in subordinated debt. Included in Enbridge Inc.’s debt count are notes issued by A- rated...
Oct 23, 2019
MI - Enbridge issues $758 million in 2029 notes to repay borrowings - October 2019Enbridge Inc. issued C$1 billion ($758 million) in 2.99% senior notes due 2029. Net proceeds will be used to repay short-term debt and fund capex. Enbridge exited Q2 with C$916 million in short-term borrowings and net debt of C$66.5 billion. Priced at 99.931, the mediumterm notes are guaranteed by Spectra Energy Partners LP and Enbridge Energy Partners LP, partnerships that merged with Enbridge last December and executed C$8 billion in note exchanges in January. The 2.99% notes’...
Oct 17, 2019
CS - Midstream lifts Canadian energy sector on its shoulders - October 2019As the page turns from Q3 to Q4, the Canadian oil patch continues to confront challenges ranging from heavy regulation and supply constraints at home to the impact of market volatility and fallout of the attacks in Saudi Arabia in the broader global arena (PG.16). Operators are assessing their financial and operational strategies within this context and remaining hesitant to engage in dealmaking until more stability is realized. This M&A reticence was particularly pronounced in Q3, when...
Oct 02, 2019
CS - People & Companies - May 29, 2019Advantage Oil & Gas LTD named
Jill T. Angevine, Stephen E. Balog,
Grant B. Fagerheim, Paul G. Haggis,
Andy J. Mah and Ronald A. McIntosh
as directors. McIntosh has been
chairman of Advantage since February
2014. Previously, he served as CEO
and president of Navigo Energy Inc.
Mah has been the CEO of Advantage
since January 2009 and president
since April 2011. Catherine Best, Murray Edwards,
Timothy Faithfull, Christopher Fong,
Gordon Giffin, Wilfred Gobert, Steve
Laut, Tim McKay,...
May 29, 2019
MI - People & Companies - May 21, 2019Enbridge has announced the
appointment of Colin Gruending as
EVP and CFO and John Whelen as
EVP and chief development
officer. Also, Vern Yu has been
appointed as president and
COO. Yu is currently serving as president
and chief development officer. The
changes are effective June 1. Enbridge
also nominated Pamela Carter, Marcel
Coutu, Susan Cunningham, Gregory Ebel,
Herb England, Charles Fischer, Maureen
Kempston Darkes, Teresa Madden, Al
Monaco, Dan Tutcher and Catherine
Williams as directors...
May 21, 2019
CS - People & Companies - May 07, 2019Enbridge announced that director
Michael E.J. Phelps died on April 20.
Phelps joined the board in February 2017,
when Enbridge completed its acquisition
of Spectra Energy. Phelps served as
CEO from 1988 to 2002 of Westcoast
Energy, which became part of Spectra. ARC Resources announced May
1 that James Houck has retired from the
company’s board after 11 years of service.
Previously, he served as CEO and president
of Marathon Oil Canada Corporation,
formerly Western Oil Sands Inc....
May 07, 2019
CS - People & Companies - March 26, 2019Baytex Energy announced that as
part of ongoing board renewal process, Ray
Chan and Gary Bugeaud have decided to
not stand for election as directors at next
annual shareholders meeting in May. Also,
Rick Ramsay, EVP and COO, elected to
retire on April 5. Ramsay, who has been
with Baytex since January 2010, will be
succeeded by Jason Jaskela. Jaskela was
COO of Raging River from March 2014
until last August and VP for production
from March 2012 until March 2014. Corey Bieber, SVP,...
Mar 26, 2019
CS - News Briefs - January 29, 2020The trustee of bankrupt OAN Resources Ltd. engaged Sayer Energy Advisors to assist it with the sale for cash of its assets, which target the Keg River oil play in the Panny area of northern Alberta. Recent net production is 38 bo/d of light oil from the Keg River formation. As of Jan. 4, the company had net deemed asset value of $1.9 million with a liability management rating of 3.65. Offers are being accepted until Feb. 13. OAN filed for bankruptcy Oct. 16, when Hardie & Kelly Inc. was...
Jan 29, 2020
CS - Finance Briefs - July 31, 2019Canadian bank BDC and its
investment arm participated in a $10
million equity financing in Calgary’s
Hifi Engineering Inc. with an
existing company investor, each
contributing half. Hifi develops
and supplies next generation fiber optic
sensing technology to monitor pipelines
and oil and gas wells. Hifi will use proceeds
to fund R&D and support its global
commercial growth, it said. In addition to
BDC, which is a bank specifically geared
toward entrepreneurs, Hifi’s investors
include Enbridge...
Jul 31, 2019
MI - News Briefs - February 26, 2019Goodnight Midstream placed two
high-pressure produced water pipelines in
the Delaware Basin into commercial service
with a combined throughput
capacity of 600,000 bbl/d. The
Llano gathering system in
Lea County, New Mexico, consists of 45
miles of pipeline, initially connected to
three disposal-processing facilities. The
Rattlesnake system in Ward County, Texas,
includes 25 miles of pipeline. Both systems
service long-term commitments from large
producers, with plans for expansion this...
Feb 26, 2019