Calgary homebuilder key to massive Capstone redevelopment

“This is a turning point in our city history, which will prove to be transformative as a former industrial area transitions into a modern, walkable urban community.” - Red Deer Mayor

Calgary homebuilder key to massive Capstone redevelopmentThe massive Capstone redevelopment project in Red Deer reached a new milestone with the announcement Thursday of its first major land sale which will trigger about $36 million of multi-family residential development. Calgary’s Brad Remington Homes will deliver about 180 new condo homes to the community and the deal represents the first investment of private…

Husky Energy net loss $7 billion for Q3

Husky said recorded funds from operations were $148 million in the third quarter

Husky Energy net loss $7 billion for Q3Husky Energy reported Thursday it suffered a more than $7 billion net loss in the third quarter of 2020 compared with net earnings of $273 million the year before. In a news release, the company said the net loss reflected “non-cash impairments of $6.7 billion (after tax), which were related to lower long-term commodity price…

Bleak 2021 forecast for Canadian oilfield services sector

2021 Canadian Oilfield Services Activity Forecast said a total of 2,600 wells (rig releases) to be drilled in Canada in 2021

Bleak 2021 forecast for Canadian oilfield services sectorAnother bleak year is forecast for Canadian oilfield services sector as the Petroleum Services Association of Canada released a report Thursday. “On the heels of a 42 per cent plunge in activity in 2020 from 2019, PSAC forecasts a continued decline in well drilling to lows not seen in decades,” said PSAC Interim President &…