WASHINGTON - An unusual coalition that includes Republicans, Democrats, labour leaders, business leaders, veterans groups and Canada's ambassador to the United States joined forces Tuesday to push for quick approval of the Keystone XL pipeline. Five Democrats joined Republicans at a news conference to urge President Barack Obama to approve the pipeline following a State Department report last week that raised no major environmental objections. The $7 billion pipeline would carry oilsands [Read more]
Archives for February 2014
Longview Oil Corp. and Advantage Oil & Gas Ltd. Announce $94.1 million Secondary Offering of Longview Common Shares
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) - As announced in a separate press release issued by Advantage Oil & Gas Ltd. (TSX:AAV) ("Advantage") which provided an update to Advantage's strategic review process, Longview Oil Corp. (TSX:LNV) ("Longview") and Advantage announce that Advantage has entered into an agreement relating to the sale of 21,150,010 Common Shares of Longview (the "Common Shares") owned by Advantage to a syndicate of underwriters led by RBC Capital Markets and [Read more]
Advantage Announces Completion of Strategic Alternatives Review, Disposition of Longview Common Shares, Three Year Development Plan & Glacier Phase VII Budget Approval
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) - Advantage Oil & Gas Ltd. (TSX:AAV)(NYSE:AAV) Highlights Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") announces that its strategic alternatives review process has been completed and did not result in an acceptable proposal. Numerous corporate and operational achievements have positioned the Corporation as a focused, industry leading, low cost Montney natural gas producer. Advantage has significantly improved the [Read more]
Lower-cost oil arriving at Suncor Montreal refinery by train, tanker
CALGARY - Suncor Energy Inc. says it's bringing lower-priced crude into its Montreal refinery by rail and ship as it awaits approval of a pipeline project that would send Alberta oil eastward. Canada's largest energy company (TSX:SU) is shipping 30,000 barrels per day of crude by rail to the 137,000 barrel per day refinery, following completion of an offloading facility there late last year. It's also accepting marine cargoes on an "opportunistic basis" from Texas and Louisiana "at [Read more]
Obama plays down Keystone job numbers, says “we’ll take a look at it”
During a Super Bowl interview with Fox News host Bill O'Reilly, President Barack Obama seemed less than enthused with the prospects accompanying building the Keystone XL pipeline. When directly asked if he would approve it, Obama replied: "we'll take a look at it". During the interview, O'Reilly cited the pipeline would create a total of 42,000 jobs for the country--Obama dismissed the number, responding to the host: Well first of all, it’s not forty two thousand. That’s — that’s not, uh, [Read more]
Renegade Petroleum Ltd. Announces a $58 Million Capital Budget Targeting $77 Million in Funds from Operations
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) - Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) announced today that its Board of Directors has approved a $57.7 million capital budget for 2014 directed at exploitation of its high quality light-oil assets in southeast and west central Saskatchewan. This capital program is consistent with the Company's long-term objectives of drilling low-risk, high impact wells while maintaining a strong focus on cost reduction in all [Read more]
Suncor hikes quarterly dividend again
CALGARY - Suncor Energy Inc. (TSX:SU) has hiked its dividend by 15 per cent to 23 cents per share — nine months after a 54-per-cent bump its quarterly payout. Its board of directors has also approved additional share buybacks of up to $1 billion, subject to regulatory approval. Canada's largest energy company made the announcement as it reported quarterly operating earnings that were slightly lower year-over-year, but missed analyst estimates. Suncor's operating earnings during the last [Read more]
Alexander Energy Ltd. Announces Completion of Previously Announced Southeast Saskatchewan Property Acquisition
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2014) - Alexander Energy Ltd. ("Alexander" or the "Corporation") (TSX VENTURE:ALX) is pleased to announce that it has successfully completed the acquisition of certain assets located in southeast Saskatchewan (the "Assets") previously announced on December 18, 2013. The Assets were acquired from an arm's length public oil and gas company for total consideration of $32.5 million with an effective date of December 1, 2013. Following the completion of the [Read more]
Suncor Energy reports 2013 fourth quarter results
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2014) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Effective January 1, 2013, Suncor adopted new and amended accounting standards, described in the Other Items [Read more]
Suncor Energy increases dividend
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2014) - Suncor Energy's Board of Directors has approved an increase in the company's quarterly dividend to $0.23 per share on its common shares, from the previous level of $0.20 per share. The dividend is payable March 25, 2014 to shareholders of record at the close of business on March 4, 2014. Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil [Read more]