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

  • 2021/01/08 – PIERIDAE COO DEPARTS COMPANY

    CALGARY, ALBERTA – January 8, 2021 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) today announced Chief Operating Officer (“COO”) Tim de Freitas has left the Company effective immediately to pursue other endeavours.

    “On behalf of Pieridae Energy Limited, 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.

    will assume COO responsibilities on an interim basis and will work closely with the Operations team to continue to ensure the safe, reliable operation of Pieridae’s assets.

    The Company will begin the search for a new COO during the first quarter of 2021 and will look at both internal and external candidates to fill the position.

    Download file

  • 2020/12/07 – PIERIDAE 2021 GUIDANCE

    Strong Financial Growth Anticipated
    Pre- and Post-FID Investments Approved for Goldboro LNG

    Highlights:

    • Net operating income (“NOI”)1 growth to $100-$130 million
    • Adjusted Funds Flow From Operations (“AFFO”)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 Goldboro LNG capital expenditure budget of $250-$350 million2
    • Commodities hedging of 55-65% on an 18-month rolling boe/d basis
    • Corporate and upstream general and administrative (“G&A”) costs of $0.90 to $1.00 per boe/d

    [1] NOI, AFFO and adjusted operating expenses 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
    [2] Assumes an FID of June 30, 2021

    CALGARY, ALBERTA – December 7, 2020 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) today released its corporate guidance for 2021 which focuses on continued improvement of key metrics including NOI, AFFO and production, an increased upstream capital budget and pre- and post-final investment decision (“FID”) budget allocations for our Goldboro LNG Project as we continue our commitment of the initiative.

    “We are guiding to an increase in NOI primarily due to higher anticipated gas prices in 2021, as well as continued optimization of our assets, higher third-party processing fees, increased overall volumes and other cost-saving initiatives,” said Pieridae CEO Alfred Sorensen. “An upstream capital budget of $45-55 million has been approved that includes money to continue investing in our assets to ensure their safety and reliability, as well as funding to maintain our current level of production. Specifically, for Goldboro LNG, we have allocated $10-$15 million for development expenses. And assuming FID is declared by the end of June 2021, a further $250-$300 million capital expenditure budget for Goldboro would be triggered."

    Download file

  • 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.

    Download file

View all news