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Oil prices soar after 11 non OPEC countries agree to cut back output + MORE Dec 12th
TORONTO — Oil prices have soared following a weekend agreement to cut back production by 11 non-OPEC countries.
January crude oil contracts were at US$53.63 per barrel as North American stock markets opened up $2.13 from late Friday. Earlier, they traded as high as US$54.51 a barrel a level that h.... More »
Worried about the stock market? Here’s what you should do: Pape Sep 1st
Reduce your risk in a downturn by adjusting your asset mix and diversifying your portfolio..... More »
Nvidia’s 2025 fourth quarter earnings analysis: revenue up, production up + MORE Feb 27th
Nvidia on Wednesday reported a surge in fourth-quarter profit and sales as demand for its specialized Blackwell chips, which power artificial intelligence systems, continued to grow, sending the company’s stock higher after hours. For the three months, that ended Jan. 26, the tech giant based .... More »
Bank of Canada finds pockets of vulnerability in financial system - Financial Post + MORE May 10th
Bank of Canada finds pockets of vulnerability in financial system Financial PostBank of Canada warns of steep jump in mortgage payments The Globe and MailRenters so far more 'vulnerable' than homeowners amid higher interest rates. Why? - National | Globalnews.ca Glob.... More »
At midday: TSX rises despite slip in energy stocks + MORE Oct 11th
Wall Street flat; financials drop ahead of earnings
.... More »
Chesapeake Energy to sell North Texas Barnett Shale assets
– canadianbusiness.com
OKLAHOMA CITY – Chesapeake Energy Corp. is selling its interests in the Barnett Shale formation in North Texas to Saddle Barnett Resources to increase operating income and reduce expenses.
The Oklahoma City-based company said Wednesday it has agreed to end its natural gas gathering agreement with Williams Partners, for which Chesapeake will pay $334 million in cash. Chesapeake has also renegotiated its agreement with Williams for the Mid-Continent area in exchange for $66 million.
The Barnett transaction involves about 215,000 acres and 2,800 operated wells, which produced an average of about 65,000 barrels of oil equivalent per day in the second quarter. Proven Barnett reserves are about 81 million barrels of oil equivalent.
Chesapeake CEO Doug Lawler says exiting Barnett will increase operating income through 2019 by up to $300 million a year.
The post Chesapeake Energy to sell North Texas Barnett Shale assets appeared first on Canadian Business – Your Source For Business News.
The Oklahoma City-based company said Wednesday it has agreed to end its natural gas gathering agreement with Williams Partners, for which Chesapeake will pay $334 million in cash. Chesapeake has also renegotiated its agreement with Williams for the Mid-Continent area in exchange for $66 million.
The Barnett transaction involves about 215,000 acres and 2,800 operated wells, which produced an average of about 65,000 barrels of oil equivalent per day in the second quarter. Proven Barnett reserves are about 81 million barrels of oil equivalent.
Chesapeake CEO Doug Lawler says exiting Barnett will increase operating income through 2019 by up to $300 million a year.
The post Chesapeake Energy to sell North Texas Barnett Shale assets appeared first on Canadian Business – Your Source For Business News.
Most actively-traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,775.04, down 26.19 points):
B2Gold Corp. (TSX:BTO). Miner. Up six cents, or 1.31 per cent, to $4.64 on 10.9-million shares.
Petrowest Corp. (TSX:PRW). Oil and gas. Down nine cents, or 24.32 per cent, to 28 cents on 7.1-million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down 29 cents, or 4.43 per cent, to $6.26 on 6.9-million shares.
Encana Corp. (TSX:ECA). Oil and gas. Down 26 cents, or 2.26 per cent, to $11.25 on 5.9-million shares.
Iamgold Corp. (TSX:IMG). Miner. Up six cents, or 0.90 per cent, to $6.74 on 5.1-million shares.
U3O8 Corp. (TSX:UWE). Miner. Unchanged at three cents on five-million shares.
Companies reporting major news:
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up two cents, or 1.02 per cent, to $1.98 on 2.1-million shares. Bombardier’s railway division has won a $1.7-billion order to build 660 railway cars that will secure 1,000 jobs at its Derby facility in England…
Toronto Stock Exchange (14,775.04, down 26.19 points):
B2Gold Corp. (TSX:BTO). Miner. Up six cents, or 1.31 per cent, to $4.64 on 10.9-million shares.
Petrowest Corp. (TSX:PRW). Oil and gas. Down nine cents, or 24.32 per cent, to 28 cents on 7.1-million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down 29 cents, or 4.43 per cent, to $6.26 on 6.9-million shares.
Encana Corp. (TSX:ECA). Oil and gas. Down 26 cents, or 2.26 per cent, to $11.25 on 5.9-million shares.
Iamgold Corp. (TSX:IMG). Miner. Up six cents, or 0.90 per cent, to $6.74 on 5.1-million shares.
U3O8 Corp. (TSX:UWE). Miner. Unchanged at three cents on five-million shares.
Companies reporting major news:
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up two cents, or 1.02 per cent, to $1.98 on 2.1-million shares. Bombardier’s railway division has won a $1.7-billion order to build 660 railway cars that will secure 1,000 jobs at its Derby facility in England…
Prince Albert starts billing Husky for costs of oil pipeline spill in river
– canadianbusiness.com
PRINCE ALBERT, Alta. – The City of Prince Albert has starting billing Husky Energy for the cost of dealing with the effects of the company’s oil pipeline spill.
The city says it has spent “millions of dollars” in the three weeks since the pipeline leaked up 250,000 litres of heavy oil and chemicals into the North Saskatchewan River.
The spill forced the city to close its water treatment plant intake in the river and scramble to hook up new sources of water for thousands of people in the region.
The city is seeking compensation for staff salaries, contractors and materials and for employees laid off due to the temporary closure of facilities such as the Kinsmen Water Park.
Mayor Greg Dionne says many of these workers are students who need the cash for school.
The city has hired the financial firm Deloitte to help its claims and Dionne says he is confident Husky will pay up.
“We have no doubt that Husky will then reimburse us for the lost hours to our staff and facilities during the oil spill situation,” Dionne said Wednesday in a release…
The city says it has spent “millions of dollars” in the three weeks since the pipeline leaked up 250,000 litres of heavy oil and chemicals into the North Saskatchewan River.
The spill forced the city to close its water treatment plant intake in the river and scramble to hook up new sources of water for thousands of people in the region.
The city is seeking compensation for staff salaries, contractors and materials and for employees laid off due to the temporary closure of facilities such as the Kinsmen Water Park.
Mayor Greg Dionne says many of these workers are students who need the cash for school.
The city has hired the financial firm Deloitte to help its claims and Dionne says he is confident Husky will pay up.
“We have no doubt that Husky will then reimburse us for the lost hours to our staff and facilities during the oil spill situation,” Dionne said Wednesday in a release…
Why America’s 99% oppose free trade
– theglobeandmail.com
The crux of the perception problem around NAFTA, and globalization generally, may be that Americans have not shared equally in wealth growth
