09-25-2017, 04:56 PM
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#3701
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First Line Centre
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What's going on with Pengrowth? Up 28% today and 80% the past week.
http://www.pengrowth.com/investors/n...7/view/2163335
PENGROWTH COMMENTS ON TRADING ACTIVITY
CALGARY, ALBERTA--(Marketwired - Sept. 25, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is issuing this press release in response to a request by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent significant increase in our share price and higher trading volumes. Pengrowth confirms that it is not aware of any material undisclosed information related to the Company or our operations that would account for this trading activity.
__________________
"I think the eye test is still good, but analytics can sure give you confirmation: what you see...is that what you really believe?"
Scotty Bowman, 0 NHL games played
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09-25-2017, 04:58 PM
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#3702
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Franchise Player
Join Date: Mar 2002
Location: Auckland, NZ
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I guess their stock is seeing some significant PenGROWTH, am I right fellas? Hey?
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09-25-2017, 09:15 PM
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#3703
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First Line Centre
Join Date: Oct 2006
Location: Fantasy Island
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No, but really. That's pretty abnormal. Wonder what it's about.
__________________
comfortably numb
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09-26-2017, 09:56 PM
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#3704
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Atomic Nerd
Join Date: Jul 2004
Location: Calgary
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All I know is they are working hard to divest all their properties except for Northern BC natural gas and their newish Oilsands facility which we were always told had great optics compared to all the older, aged properties. Lots of layoffs (including me) and restructuring in 2017. Might be one more big disposition package coming to sell what's left. They had a major debt coming due and the dispositions means they were able to pay most of it off.
Last edited by Hack&Lube; 09-26-2017 at 10:00 PM.
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09-27-2017, 05:48 AM
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#3705
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Powerplay Quarterback
Join Date: Dec 2009
Location: SE Calgary
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Quote:
Originally Posted by Hack&Lube
All I know is they are working hard to divest all their properties except for Northern BC natural gas and their newish Oilsands facility which we were always told had great optics compared to all the older, aged properties. Lots of layoffs (including me) and restructuring in 2017. Might be one more big disposition package coming to sell what's left. They had a major debt coming due and the dispositions means they were able to pay most of it off.
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Their statement suggests that nightingale big is going to happen soon. But it puzzling.
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"In theory, there is no difference between theory and practice. But in practice, there is" — Jan Van De Snepscheu
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09-27-2017, 09:59 AM
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#3706
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#1 Goaltender
Join Date: Feb 2012
Location: Calgary
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Quote:
Originally Posted by oilyfan
Their statement suggests that nightingale big is going to happen soon. But it puzzling.
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Nightingale big. That is big.
EDIT: The company press release is pretty standard stuff. IIROC (Investment Industry Regulator of Canada) monitors unusual volumes/movement. If they think trading is happening off of material, undisclosed information, they will require the company to clarify.
__________________
From HFBoard oiler fan, in analyzing MacT's management:
O.K. there has been a lot of talk on whether or not MacTavish has actually done a good job for us, most fans on this board are very basic in their analysis and I feel would change their opinion entirely if the team was successful.
Last edited by Fighting Banana Slug; 09-27-2017 at 10:20 AM.
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09-27-2017, 10:16 AM
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#3707
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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That is some pretty steep movement.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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10-01-2017, 12:19 AM
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#3708
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A Fiddler Crab
Join Date: Jan 2007
Location: Chicago
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National Energy Board warns Kinder Morgan about installing mats in streams to discourage fish from spawning where the pipeline is to be built.
http://www.nationalobserver.com/2017...pipeline-route
Quote:
In a letter on its website, addressed to Kinder Morgan president Ian Anderson, the regulator ordered the company to stop installing the mats until it has obtained all approvals from the board to allow the start of construction in those areas.
The NEB said in that letter that the company's actions appeared to be in violation of the National Energy Board Act.
"The Board notes that numerous (construction) conditions... have not yet been approved by the Board which are required in advance of the commencement of construction on the pipeline portion of the project," said the letter, sent by the secretary of the Board, Sheri Young. "The Board reminds Trans Mountain that construction of the pipeline shall not be undertaken until such time that Trans Mountain receives the applicable approvals pursuant to those conditions."
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Link to NEB letter: https://apps.neb-one.gc.ca/REGDOCS/Item/Filing/A86239
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10-01-2017, 08:09 AM
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#3709
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Franchise Player
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The anti fish spawning mats are a normal part of construction designed to protect fish from laying eggs in areas that will get torn up. The issue here is that they are installing them prior to getting final approval.
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10-01-2017, 05:39 PM
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#3710
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A Fiddler Crab
Join Date: Jan 2007
Location: Chicago
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Of course. You'd think Kinder Morgan would be smart enough to cross every 't' and dot every 'i' on this project, though. There's a government in BC which more-or-less ran on blocking this pipeline, the public appetite for the pipeline in BC is extremely low.
Even though the anti-spawning mats are actually a sound idea which serve to protect the fish, that's not how they will be generally percieved particularly when Kinder Morgan is being reprimanded by the NEB for jumping the gun in the timing of their installation.
If the company wants this project to get done in as timely a fashion as possible, it would probably be a good idea to go absolutely by the book.
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10-05-2017, 07:21 AM
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#3711
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Powerplay Quarterback
Join Date: Jul 2013
Location: Calgary
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TransCanada terminates plan for $15.7 billion Energy East pipeline
http://business.financialpost.com/co...-east-pipeline
Quote:
"After careful review of changed circumstances, we will be informing the National Energy Board that we will no longer be proceeding with our Energy East and Eastern Mainline applications,” Calgary-based TransCanada said Thursday in a statement. "We appreciate and are thankful for the support of labour, business and manufacturing organizations, industry, our customers, Irving Oil, various governments, and the approximately 200 municipalities who passed resolutions in favour of the projects. Most of all, we thank Canadians across the country who contributed towards the development of these initiatives."
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Last edited by The Hendog; 10-05-2017 at 07:25 AM.
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10-05-2017, 07:37 AM
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#3712
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Franchise Player
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Thanks Quebec - enjoy your Saudi crude and unemployment. Can we not turn off our equalization payments to them already?
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10-05-2017, 07:51 AM
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#3713
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#1 Goaltender
Join Date: Jan 2009
Location: Calgary
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Terrible.
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10-05-2017, 08:06 AM
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#3714
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Franchise Player
Join Date: Mar 2002
Location: Waterloo, Ontario
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Quote:
Originally Posted by Locke
Oh come on, Torontonians wouldnt know what to do with nature if it came up and bit them in the ass....which it occasionally does.
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damn...thats what that scar on my left cheek is from? Who woulda thunk!
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10-05-2017, 08:25 AM
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#3715
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Posted the 6 millionth post!
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This is a huge disappointment.
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10-05-2017, 08:27 AM
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#3716
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Late Bloomer
Join Date: Oct 2002
Location: Campo De Golf
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I just can't comprehend the lack of support for this project.
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10-05-2017, 08:29 AM
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#3717
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Franchise Player
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This is more a result of Keystone being back on the table. We don't need all 3 pipelines in a 60-80 dollar oil environment. Yes the regulatory environment didn't help and Keystone puts Canada at risk in trade negotiations and duties but from a cost vs profit perspective using Keystone to capture the differential between WCS and WTI makes more sense as we are shipping to refineries already capable of handling our heavier crude.
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10-05-2017, 08:31 AM
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#3718
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First Line Centre
Join Date: Apr 2006
Location: Calgary
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Quote:
Originally Posted by GGG
This is more a result of Keystone being back on the table. We don't need all 3 pipelines in a 60-80 dollar oil environment. Yes the regulatory environment didn't and Keystone puts Canada at risk in trade negotiations and duties but from a cost vs profit perspective using Keystone to capture the differential between WCS and WTI makes more sense.
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I highly disagree with this assessment.
TransCanada had clearly decided with their private dollars that both pipelines were required.
The fact that the cost of regulatory compliance has doubled the cost of the energy east project is the primary reason that the entire project is no longer economic.
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10-05-2017, 08:31 AM
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#3719
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First Line Centre
Join Date: Oct 2006
Location: Fantasy Island
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Out of all the pipeline projects, this one should have been the slam dunk imo. Mostly existing pipe in the ground already. Canadian crude being shipped to be refined in Canada. Jobs for numerous provinces along the way.
Just brutal.
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comfortably numb
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username
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10-05-2017, 08:32 AM
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#3720
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Franchise Player
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Quote:
Originally Posted by GGG
This is more a result of Keystone being back on the table.
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Is it really though? While the physical pipeline may be, I find it hard to believe we won’t get hammered with Bombardier-like duties.
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