Wet'suwet'en

Macro Enterprises Inc. Announces 2020 Fourth Quarter and Year End Results

Retrieved on: 
Friday, April 9, 2021

The Company elected to recognize a $2.1 million loss provision in its fourth quarter operations on an onerous contract set to complete in FY'21.

Key Points: 
  • The Company elected to recognize a $2.1 million loss provision in its fourth quarter operations on an onerous contract set to complete in FY'21.
  • As at December 31, 2020 Macro Enterprises has now exceeded 32 quarters without a single lost time injury.
  • During the fourth quarter the Company completed the sale of its interest in the Coastal GasLink Pipeline Project (the "Project").
  • On December 15, 2020, the Company completed the sale of Macro Pipeline Construction Inc. ("MPCI"), a wholly owned subsidiary, to Spiecapag Canada Corp. ("Spiecapag").

Macro Provides Project Agreement Update

Retrieved on: 
Wednesday, December 16, 2020

Macro and Trans Mountain continue to be in discussions regarding future opportunities that are expected to contractually occur in early 2021.

Key Points: 
  • Macro and Trans Mountain continue to be in discussions regarding future opportunities that are expected to contractually occur in early 2021.
  • Furthermore, the Company announces that it has completed the reorganization plan, announced November 27, 2020, related to the Coastal GasLink Pipeline Project ("CGL Project).
  • In addition, Macro received a closing cash payment of $20 million, and is to receive a further $20 million payment on June 30, 2020, in satisfaction of all amounts owing to Macro by the CGL joint venture.
  • Macro has agreed to continue to provide support to Spiecapag on the CGL Project by providing equipment and personnel to assist Spiecapag to complete that project.

Construction set to start on the 2021 NOVA Gas Transmission Ltd. (NGTL) System Expansion Project

Retrieved on: 
Tuesday, October 20, 2020

NGTL expects that this approval will allow it to immediately progress construction activities in accordance with regulatory requirements, with compressor station field work expected to begin in December 2020 andpipeline construction activities expected to start inJanuary 2021.

Key Points: 
  • NGTL expects that this approval will allow it to immediately progress construction activities in accordance with regulatory requirements, with compressor station field work expected to begin in December 2020 andpipeline construction activities expected to start inJanuary 2021.
  • Were pleased to be moving forward with this project, said Tracy Robinson, Executive Vice-President, President Canadian Natural Gas Pipelines and President Coastal GasLink.
  • In Canada, we have a very large natural gas source known as the Western Canadian Sedimentary Basin (WCSB) in addition to smaller natural gas sources.
  • According to the Canadian Gas Association, natural gas meets 35 per cent of Canadas energy needs through heat and power.