Pieridae Energy Ltd.

Pieridae Energy Ltd. today announced Chief Operating Officer Tim de Freitas has left the Company effective immediately to pursue other endeavours. “On behalf of Pieridae Energy Ltd., I would like to thank Tim for his past contributions, particularly during the purchase of the Shell assets in the fall of 2019, and we wish him well in the future,” said Pieridae CEO Alfred Sorensen. Sorensen will assume COO responsibilities [...]

Strong Financial Growth Anticipated Pre- and Post-FID Investments Approved for Goldboro LNG Highlights: Net operating income 1 growth to $100-$130 million Adjusted Funds Flow From Operations 1 increase to $80-$110 million Adjusted operating expenses1 of $9.50-10.50/boe Production of 40,000-45,000 boe/d $45-55 million upstream capital budget $10-$15 million pre-FID Goldboro LNG development expense budget, and post-FID [...]

Highlights: Revenue of $54.6 million in Q3 2020, an increase of $41.4 million or 315% compared to Q3 2019 Net operating income1 increased by $2.1 million or 76% compared to Q3 2019 Adjusted Funds Flow From Operations1 increased by $0.9 million or 13% compared to Q3 2019 Q3 2020 average production was 38,209 barrels of oil equivalent per day , an increase of 23,552 boe/day or 161% compared to Q3 2019 Completed deferred [...]

Pieridae Energy Ltd. will release its third-quarter 2020 results on Friday, November 13, 2020 prior to markets opening. Chief Executive Officer Alfred Sorensen, Chief Financial Officer Rob Dargewitcz and other members of the Pieridae leadership team will discuss the financial results and Company developments at 8 a.m. / 10 a.m. . Members of the investment community, shareholders and other interested parties are invited to [...]

Pieridae Energy Ltd. is pleased to announce that it has signed a services agreement with respected global engineering firm Bechtel related to Pieridae’s 2-Train Goldboro LNG Facility. Some of the key deliverables in the services agreement are: Initiating a detailed review of the scope and design of the Goldboro LNG Facility and developing a comprehensive engineering, procurement, construction and commissioning execution [...]

Pieridae Energy Ltd. is pleased to announce it has engaged veteran LNG industry professional Andy Mukherjee P.Eng. as Senior Vice-President LNG to lead the development of its multi-billion-dollar Goldboro LNG Project. Mr. Mukherjee has worldwide expertise in front-end engineering and design; detailed engineering, procurement, contracts, construction, and commissioning ; including module fabrication and construction [...]

Highlights: Revenue of $68.6 million in Q2 2020, an increase of $55.2 million or 412% compared to Q2 2019 Net operating income1 increased by $21.2 million or 1,101% compared to Q2 2019 Adjusted Funds Flow From Operations1 increased by $19.0 million or 291% compared to Q2 2019 Q2 2020 average production was 43,791 barrels of oil equivalent per day , an increase of 28,423 boe/day or 185% compared to Q2 2019 CALGARY, Alberta [...]

Pieridae Energy Ltd. will release its second-quarter 2020 results on Wednesday, August 12, 2020 prior to markets opening. Chief Executive Officer Alfred Sorensen, Chief Financial Officer Rob Dargewitcz and other members of the Pieridae leadership team will discuss the financial results and Company developments at 8:30 a.m. / 10:30 a.m. . Members of the investment community, shareholders and other interested parties are [...]

Pieridae Energy Ltd. is pleased to announce it has received approval from Export Development Canada for a CAD$6 million guarantee facility as part of EDC’s Account Performance Security Guarantee program. The program provides a 100% guarantee to the issuing bank of certain of the Company’s existing and future letters of credit . The APSG will allow Pieridae to release cash collateral requirements provided as security for [...]

Pieridae Energy Ltd. has received written notice from Kellogg Brown & Root Limited that KBR is no longer prepared to negotiate and conclude a lump sum turnkey engineering, procurement, construction and commissioning contract in relation to the proposed Goldboro LNG Facility. Although KBR has indicated they remain interested in providing the EPCC services for construction of the Goldboro LNG Facility, KBR’s decision to no [...]