From Discovery to Delivery: A Fully Integrated LNG Infrastructure Company

Founded in 2011, Pieridae Energy is developing a fully integrated LNG infrastructure business covering the entire LNG value chain, from exploration and production of natural gas to the development and operation of an LNG export terminal - Goldboro LNG - opening up world markets for Canadian natural gas.

Pieridae is Canada’s only independent, fully-integrated LNG company looking to build the US$10 billion Goldboro LNG project to supply much needed natural gas to the globe

Goldboro is construction ready

We own low-cost reserves to supply the facility

We will leverage a low cost of capital to build the LNG terminal and gas production base

Pieridae has strong access to international markets

We appreciate our continued community, labour and First Nations support

Read more about the company

Pieridae:
Doing Business The Right Way

Pieridae conducts its every operation in a socially, environmentally and fiscally responsible manner.

The company and its employees are committed to giving back to the communities in which it lives and work.

It also committed to adopting and implementing environmental stewardship strategies that minimize its ecological footprint, thus ensuring the best possible future for all Canadians.

Pieridae’s every action are guided by a fair and strict code of business ethics focusing on honesty, ethics and accountability in all our dealing with our business partners, investors, government entities and the general public.

Read more about our commitments

Latest Press Releases

  • 2020/11/13 – PIERIDAE ANNOUNCES THIRD QUARTER RESULTS

    Key Financial Metrics Increased Year-Over-Year During Ongoing Market Volatility

    Highlights:

    • Revenue (net of royalties) of $54.6 million in Q3 2020, an increase of $41.4 million or 315% compared to Q3 2019
    • Net operating income[1] (“NOI”) increased by $2.1 million or 76% compared to Q3 2019
    • Adjusted Funds Flow From Operations1 (“AFFO”) increased by $0.9 million or 13% compared to Q3 2019
    • Q3 2020 average production was 38,209 barrels of oil equivalent per day (“boe/day”), an increase of 23,552 boe/day or 161% compared to Q3 2019
    • Completed deferred maintenance to ensure the continued, safe and reliable operation of our assets

    CALGARY, ALBERTA – November 13, 2020 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) released its Q3 2020 results today, highlighted by the fact the Company recorded year-over-year increases in key financial metrics such as revenue, NOI and AFFO in the midst of ongoing market volatility. The Company also successfully completed numerous maintenance projects including the $3.7 million partial turnaround of our Jumping Pound Gas Complex, all previously delayed due to COVID-19 and other factors. Pieridae's unaudited condensed interim financial statements and MD&A are available on our website at www.pieridaeenergy.com and are filed on SEDAR at www.sedar.com.

    “Our results show resiliency over the past three quarters as many companies continue to face the negativity of COVID-19 and its harsh impacts on the energy industry,” said Pieridae’s Chief Executive Officer Alfred Sorensen. “We did invest in completing planned maintenance of our assets in the quarter that had been deferred due to the pandemic. This work is necessary to ensure we continue to operate safely and reliably for the winter season. Resulting lower volumes did impact our bottom line, but we will never compromise the safety of our employees. That said, volumes continue to recover in the fourth quarter, with October’s production averaging approximately 44,100 boe/day, a 13% improvement from September.

    “I am pleased to say we made solid progress on our Goldboro LNG Project in the quarter, reaching an agreement with globally-respected engineering firm Bechtel to design and build the LNG Facility, and the Nova Scotia Mi’kmaq and Black Diamond Group received a Letter of Award from Pieridae for the exclusive right to negotiate the contract to build the $720 million workforce lodge to house the 5,000 men and women who will build the Facility,” added Sorensen.

    [1] NOI and AFFO are non-IFRS measures. They do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. See pages 21&22 in the Company’s Q3 2020 MD&A.

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  • 2020/11/03 – PIERIDAE TO HOLD CONFERENCE CALL AND WEBCAST FOR Q3 2020 FINANCIAL RESULTS

    CALGARY, ALBERTA – November 3, 2020 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) 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. (MST) / 10 a.m. (EST).

    Members of the investment community, shareholders and other interested parties are invited to participate by calling toll-free: 1-888-231-8191, Calgary 403-451-9838, or Toronto: 647-427-7450. Please dial in 10 minutes prior to the start of the call. No pass code is required. A live webcast of the teleconference will be available via the following URL: https://produceredition.webcasts.com/starthere.jsp?ei=1397969&tp_key=1500f7a0f5

    A replay of the teleconference will be available two hours after the conclusion of the call until midnight (EST) on November 20, 2020. Please call 1-855-859-2056 and enter pass code 6783529#.

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  • 2020/09/29 – PIERIDAE ENGAGES EPCC CONTRACTOR BECHTEL

    Bechtel Brings a High Level of LNG Experience & Expertise

    CALGARY, ALBERTA – September 29, 2020 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) 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 (“EPCC”) execution plan by March 31, 2021;

    Delivering a final lump sum, turnkey EPCC contract price proposal by May 31, 2021; and

    Conducting a meaningful engagement with the Nova Scotia Mi’kmaq First Nations including their participation in the construction of a large-scale work camp at the LNG site.

    “This is a very positive step forward for our Goldboro LNG Project,” said Pieridae CEO Alfred Sorensen. “Bechtel has significant experience building and delivering global LNG projects, helping their customers deliver about 30% 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.

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