Birchcliff Energy Ltd (TSX:BIR)
Shares Issued 266,953,342
Last Close 8/17/2021 $4.69
Wednesday August 18 2021 - In the News
The Financial Post reports in its Wednesday edition that prospective power plant developer Erin Campbell is looking to build up to 10 net-zero natural-gas-fired electric generating stations in Canada just as investing in natural gas is becoming more promising but at higher costs. The Post's Geoffrey Morgan quotes Mr. Campbell saying: "This is the time to build these kinds of plants. We think it's a really compelling value proposition." Ms. Campbell is vice-chairman of Kanata Clean Power, which has a partnership with the Frog Lake First Nation in Alberta to build what she hopes will be the company's first -- and Canada's first -- zero-emissions 50-megawatt, natural-gas-fired power plant. Producers have struggled in recent years amid sub-$1 natural gas prices at the AECO benchmark, the monthly index for August is $3.32 per gigajoule. Spot prices for gas have dipped below $2 this week, however, while TC Energy conducts scheduled maintenance on a gas pipeline system. Birchcliff chief executive officer Jeff Tonken said in release that its unhedged production "allows all of our production to benefit from strong oil and natural gas prices and we currently have no intention of entering into any fixed-price commodity hedges."