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Alberta

Trican Well Service reports lower Q4 revenue as oilfield slump drags on

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CALGARY — Trican Well Service Ltd. says an ongoing slump in Canadian oilfield activity linked to the COVID-19 pandemic resulted in lower revenue in the fourth quarter.

The Calgary-based well completion company says consolidated revenue from continuing operations fell to $103 million from $163 million in the year-earlier period.

It is reporting a net loss of $25 million or 10 cents per share for the last three months of 2020, including a $22.3-million impairment charge on non-financial assets. That compares with a net loss of $20.9 million or seven cents in the same period of 2019.

Trican says it had adjusted earnings before interest, taxation, depreciation and amortization of $14.5 million, little changed from $14.6 million a year earlier, but beating analyst expectations for $9.7 million, according to financial data firm Refinitiv.

Its adjusted earnings include $4.9 million from the Canadian Emergency Wage Subsidy, bringing the total for the year to $13.8 million.

Trican says stronger demand allowed it to activate a sixth crew offering hydraulic fracturing or “fracking” well completions in early January.

This report by The Canadian Press was first published Feb. 23, 2021.

Companies in this story: (TSX:TCW)

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Alberta

Michael Hutchinson earns 31-save shutout, Maple Leafs blank Oilers 3-0

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EDMONTON — Michael Hutchinson earned his sixth career shutout, and the Toronto Maple Leafs blanked the Edmonton Oilers 3-0 on Monday. 

Hutchinson stopped all 31 of the shots he faced as the Leafs (17-4-2) shutdown Connor McDavid, Leon Draisaitl and their teammates for a second straight game.

Toronto also blanked Edmonton 4-0 on Saturday with Jack Campbell in net.

Morgan Rielly and WIlliam Nylander had a goal and an assist apiece Monday, while Zach Hyman also scored for the NHL’s top team.

Oilers (14-10-0) goalie Mikko Koskinen allowed three goals on 10 shots before being replaced by Mike Smith to start the second period. Smith had 13 saves in relief.

Toronto was without Auston Matthews for a second straight game as the team’s star centre recovers from a wrist injury. 

Matthews — who has 31 points (18 goals, 13 assists) on the season — is travelling with the team and took part in an optional skate with his teammates on Monday. 

Toronto’s first shot of the night didn’t come until 7:19 into the first period, but it was worth the wait as Rielly put a pass on Hyman’s tape and the forward sent a nifty backhanded shot past Koskinen to give the Leafs a 1-0 lead. 

Three minutes later, Nylander collected the puck off a faceoff and streaked deep into the Edmonton zone. He sailed a backhander over Koskinen’s glove and into the top-left corner of the net. 

A power-play strike rounded out the first-period scoring after Edmonton’s Adam Larsson was called for hooking. 

Rielly uncorked a blast from near the blue line and, while Koskinen got a piece of it, he couldn’t control the puck and it dribbled through his legs and over the goal line, giving Toronto a 3-0 lead heading into the first intermission. 

The Leafs came into the game with the league’s top-ranked power play, having capitalized on 32.4 per cent of their chances with the man advantage. 

Toronto was 1 for 4 on the power play Monday. Edmonton failed to capitalize on any of its four chances.

The Oilers had ample opportunities to claw out a goal in the third period, outshooting the Leafs 13-8 across the frame, but couldn’t beat Hutchinson.

The 31-year-old goalie’s last shutout came on Jan. 4, 2020, when he led Toronto to a 3-0 victory over the New York Islanders. 

The Leafs and Oilers will wrap up a three-game series in Edmonton on Wednesday. 

NOTES: Earlier on Monday, the Oilers claimed goalie Alex Stalock off waivers from the Minnesota Wild. … Toronto defenceman Jake Muzzin played in the 600th game of his NHL career. … The Leafs have never lost at Edmonton’s Rogers Place during regulation.

This report by The Canadian Press was first published Mar. 1, 2021.

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Alberta

Alberta flexes COVID-19 rules for gyms, libraries, delays other reopenings

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EDMONTON — Alberta is lifting more economic restrictions tied to COVID-19 while delaying others.

Premier Jason Kenney says low intensity group activities, such as Pilates, can resume in fitness centres, and libraries can open at 15 per cent capacity.

But he says loosening measures for retail shops, hotels and community centres can’t happen yet.

“While our hospitalizations are dropping … active cases have levelled off recently. And the testing positivity rate has risen a bit,” he told a news conference Monday.

“We have also observed a small increase in the daily number of new variant cases and that is worrisome too.

“That is why we have to proceed cautiously while still moving forward.”

This is Stage 2 of a four-stage plan to reopen the economy announced by Kenney a month ago.

In Stage 1, restaurants were able to reopen for dine-in service, gyms were allowed to resume one-on-one fitness training and some restrictions were lifted on youth sports.

Some medical experts, including the Edmonton Zone Medical Staff Association, warned the province last week against further loosening public-health measures.

This report by The Canadian Press was first published March 1, 2021.

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