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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Pieridae Energy Limited    PEA   CA7207861021

PIERIDAE ENERGY LIMITED

(PEA)
  Report
Delayed Quote. Delayed Toronto Stock Exchange - 01/15 03:59:40 pm
0.59 CAD   +5.36%
2020PIERIDAE ENERGY : 2021 guidance
AQ
2020Pieridae Energy Down As Details 2021 Guidance
MT
2020PIERIDAE ENERGY : Announces third quarter results
AQ
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Pieridae Energy : signs Bechtel as engineer and builder of Nova Scotia LNG export project

09/29/2020 | 03:34pm EST

CALGARYPieridae Energy Ltd. says it has hired a new engineering firm to replace one that left its East Coast liquefied natural gas export project in July.

The Calgary-based company says international engineering firm Bechtel Corp. has agreed to replace Kellogg Brown & Root Ltd., which it said decided not to enter into a lump-sum turnkey engineering, procurement, construction and commissioning (EPCC) contract for the Nova Scotia project.

Pieridae says Bechtel has agreed to review the scope and design of the proposed Goldboro LNG facility, develop an EPCC execution plan by March 31 and provide a lump sum turnkey contract price proposal by May 31.

It is also to engage with the Nova Scotia Mi’kmaq First Nations concerning their participation in the construction of a large work camp at the site.

In May, Pieridae announced a delay until June 2021 to make a final decision on proceeding with the project, citing technical obstacles created by COVID-19.

Also in May, the Alberta Energy Regulator put Pieridae's natural gas supply in question when it refused to transfer licences for production assets purchased from Shell Canada because the application would have split liabilities for cleaning up the sites, especially two gas-processing plants. Shell and Pieridae are trying to work with the AER to win its approval.

“This is a very positive step forward for our Goldboro LNG Project,” said Pieridae CEO Alfred Sorensen in a news release on Tuesday.

“Bechtel has significant experience building and delivering global LNG projects, helping their customers deliver about 30 per cent of the world’s LNG capacity over the past two decades. They have a proven track record of delivering projects throughout the world on time and on budget."

This report by The Canadian Press was first published Sept. 29, 2020.

Companies in this story: (TSX:PEA)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials
Sales 2020 - - -
Net income 2020 - - -
Net Debt 2020 229 M 180 M 180 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 96,1 M 75,5 M 75,3 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 284
Free-Float 76,2%
Chart PIERIDAE ENERGY LIMITED
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Pieridae Energy Limited Technical Analysis Chart | PEA | CA7207861021 | MarketScreener
Technical analysis trends PIERIDAE ENERGY LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 1,10 CAD
Last Close Price 0,59 CAD
Spread / Highest target 86,4%
Spread / Average Target 86,4%
Spread / Lowest Target 86,4%
Managers and Directors
NameTitle
Alfred B. Sorensen President, CEO, COO & Director
Myron Arthur Tétreault Chairman
Rob Dargewitcz Chief Financial Officer
Charles Boulanger Independent Director
Andrew G. Judson Independent Director
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