CALGARY - TransCanada says it's pleased with the U.S. State Department's latest report into its controversial Keystone XL oil pipeline proposal, but acknowledges there's some ways to go before it can go ahead with construction. CEO Russ Girling says the report supports many of TransCanada's arguments in favour of the 830,000-barrel-per-day line when it comes to jobs, environmental protection and the line's impact on the pace of oilsands development. But he says the process is far from over [Read more]
Archives for January 2014
What is being said about the Keystone report
WASHINGTON - A look at reaction to the U.S. State Department's environmental impact report on TransCanada Corp.'s (TSX:TRP) proposed Keystone XL pipeline: "This has been a lengthy and thorough review process. The benefits to the United States and to Canada are clear. We await a timely decision on this project." — Natural Resources Minister Joe Oliver. ——— "There is a simple question that needs to be answered: Is this pipeline in America's national interest. From our perspective, from an [Read more]
Elkwater Announces Closing of Financings and Acquisition
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Elkwater Resources Ltd. (the "Corporation" or "Elkwater") (TSX VENTURE:ELW) announces that the Corporation has entered into a new $4.1 million revolving senior credit facility (the "Facility") with a Canadian chartered bank, closed its previously announced non-brokered private placement (the "Private Placement") by issuing 5,000,000 common shares (the "Shares") at a price of $0.05 per Share for gross proceeds of $250,000, and closed its [Read more]
What the Keystone XL Pipeline EIS Means for Alberta’s Producers
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Strata Oil (OTCQB:SOIGF)(OTCBB:SOIGF), a leader in the exploration and development of bitumen from carbonates, responded to the U.S. State Department's environmental impact statement (EIS) regarding the proposed Keystone XL Pipeline which was just released earlier today. The State Department's EIS concludes that the proposed Keystone XL Pipeline would have minimal impact on the environment over the long term with no appreciable increase in carbon [Read more]
CAPP: U.S. State Department’s Environmental Statement Provides Basis for Keystone Approval on Environmental, Economic, Energy Security Merits
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - The U.S. State Department's final environmental impact statement for the Canada-U.S. Keystone XL oil pipeline project provides the basis for approval of the pipeline on its strong environmental, economic and energy security merits, the Canadian Association of Petroleum Producers said today. "With this extensive environmental review now complete, we encourage the U.S. government to move expeditiously to a favourable decision on Keystone XL," [Read more]
Hyperion Exploration Corp. Completes Sale of Non-Core, Chip Lake Assets
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Hyperion Exploration Corp. ("Hyperion" or the "Corporation") (TSX VENTURE:HYX) announces that it has completed the previously announced disposition of 100 boe/d of non-core, gas weighted production in the Chip Lake Area of Central Alberta for cash consideration of $3.4 million (the "Disposition"). Proceeds from the Disposition will be used to reduce Hyperion's bank debt. [Read more]
Alberta oilsands odour hearings wrap up
PEACE RIVER, Alta. - Hearings in northwestern Alberta about odours blamed on oilsands processing have wrapped up.People in two communities near Peace River say Baytex Energy's operations are creating powerful gassy smells that are impossible to live with.Alberta's energy regulator called an inquiry after getting numerous complaints.The regulator says it will now review what it heard and make recommendations in a report by March 31.Baytex spokesman Andrew Loosely says the hearings were a [Read more]
Yoho Announces Acquisition of Common Shares of Storm Resources
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) announces that, in connection with the transaction described below, Yoho's direct and indirect wholly-owned subsidiary, Yoho Resources Partnership (the "Partnership"), acquired ownership and control of 13,629,442 common shares (the "Storm Shares") in the capital of Storm Resources Ltd. (TSX VENTURE:SRX) ("Storm") with a deemed value of $4.25 per share, being the closing price of the [Read more]
Highlights of Keystone environmental review
WASHINGTON - A quick look at some of the highlights from the U.S. State Department's report on TransCanada Corp.'s proposed Keystone XL pipeline: — Drivers of oilsands development are global and any single infrastructure project is unlikely to significantly affect the rate of extraction in oilsands areas. — Cross-border pipeline constraints have a limited impact on crude flows and prices. — East-west pipelines to Canada's coasts would be used to export oilsands crude to growing Asian [Read more]
Southern Pacific Announces Amendment to Current Credit Facility
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2014) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) today announced that in addition to the Company's previously announced strategic review process, which included revised forecasted production guidance at STP-McKay, the Company has completed an amendment to its existing credit facility in which the availability on the credit facility will be $85 million, with the $100 million borrowing base remaining in place. This [Read more]
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