EDMONTON - Alberta released estimates Monday showing its climate change plan will shrink the economy in the short term, but Environment Minister Shannon Phillips said the figures are a work in progress. The province estimates the economic impact of the plan will be 0.3 or 0.4 per cent of the GDP by the year 2022, which translates into slower growth of .05 per cent per year during that time. It also estimates that getting a pipeline to tidewater, which would give Alberta a better price for [Read more]
Archives for October 2016
ConocoPhillips reaches 100,000 barrels of oil per day production at Surmont
ConocoPhillips announced it had reached 100,000 bbl/d from its Surmont oil sands operation, read the notice below from their website: After building the largest single-phase SAGD expansion ever, and temporarily shutting the entire project down in the face of a historic wildfire, we are extremely proud to celebrate a new milestone at Surmont: reaching 100,000 barrels of oil per day (bpd). And despite all challenges, we reached this milestone well ahead of our original target. "They say it [Read more]
Sanchez Energy Corporation Announces Third Quarter 2016 Earnings Conference Call
HOUSTON, Oct. 31, 2016 (GLOBE NEWSWIRE) -- Sanchez Energy Corporation (NYSE:SN) (“Sanchez Energy” or the “Company”) today announced that it will host a conference call at 1:00 p.m. Central Time (2:00 p.m. Eastern Time) on Monday, Nov. 7, 2016. The Company expects to release its third quarter 2016 earnings before the market opens that day What: Sanchez Energy Third Quarter 2016 Earnings Conference Call When: Monday, Nov. 7, 2016 at 1:00 p.m. Central Time (2:00 p.m. Eastern [Read more]
Chinook Energy Provides Update in Respect of Craft Oil Ltd.
CALGARY, ALBERTA--(Marketwired - Oct. 31, 2016) - Chinook Energy Inc. (TSX:CKE) ("Chinook") announced today that further to its news release dated October 17, 2016, Craft Oil Ltd. ("Craft"), an approximate 70% owned subsidiary of Chinook, has completed the previously announced asset disposition (the "Asset Disposition") for gross proceeds of $13.5 million, comprised of $9.0 million cash and $4.5 million of tradeable debentures. For further details regarding the Asset Disposition, please see [Read more]
Alliance opposed to oilsands development asks PM to denounce Enbridge
OTTAWA - A First Nations alliance opposed to expanding the oilsands wants the prime minister to condemn energy giant Enbridge Inc. for its alleged role in violating the rights of indigenous people in the United States. In North Dakota, hundreds of Standing Rock Sioux tribal members have been taking part in a massive protest of the 2,000-kilometre Dakota Access oil pipeline project, which they say will damage the region's water supply and endanger sacred sites. Enbridge says it is [Read more]
ONE Gas Announces Third-quarter 2016 Financial Results
TULSA, Okla., Oct. 31, 2016 /PRNewswire/ -- ONE Gas, Inc. (NYSE: OGS) today announced financial results for its third quarter 2016; declared its quarterly dividend; and affirmed its 2016 financial guidance. Highlights include: Third-quarter 2016 net income was $12.7 million, or $0.24 per diluted share, compared with $7.4 million, or $0.14 per diluted share, in the third quarter 2015; and The board of directors declared a quarterly dividend of 35 cents per share, or $1.40 per share on an [Read more]
Federal government approves $1.3B Nova natural gas system expansion in Alberta
CALGARY - The federal government has conditionally approved an expansion of TransCanada's (TSX:TRP) Nova Gas Transmission gathering system in northern Alberta. The decision includes 36 binding conditions as set out by the National Energy Board in its recommendation for approval in June. Five of the conditions concern protection and restoration of caribou habitat as the project would run through three boreal woodland caribou ranges. Natural Resources Canada says it expects [Read more]
Jack Mintz and Daria Crisan release definitive report on the effects of the NDP royalty regime – significant net positives to energy sector – Alberta more competitive
CALGARY, Oct. 31, 2016 /CNW/ - The NDP made a review of the Alberta royalty regime a priority. Most reviews suggest the new regime is relatively neutral in its impact. But today, Jack Mintz and Daria Crisan released a report that shows that rather than just being neutral, in many cases the new royalty regime will make Alberta significantly more attractive for investment. This paper focuses on oil and the fiscal regime (it does not consider other regulatory and carbon policies that affect [Read more]
Perhaps the only genuinely pro-oil and gas NDP minister
Alberta's NDP has an extremely troubling history of being anti-oil and gas. Prior statements, activist appointments and several policies have altogether shone a dark light on the party for many Albertans. However, there is one NDP MLA who stands out as being reasonable and approachable. There are many examples where Marg McCuaig-Boyd has shown compassion and a willingness to understand the plight of the oil industry and its workers. @OilsandsAction Thanks for the cozy hoodie. [Read more]
Government of Canada Approves $1.3 Billion NGTL System Expansion Project
CALGARY, ALBERTA--(Marketwired - Oct. 31, 2016) - News Release - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced that the Government of Canada has approved the company's $1.3 billion 2017 NGTL System Expansion Project, which will provide important additional capacity to meet the needs of natural gas shippers. The expansion project includes five new pipeline sections totaling 230 kilometres and the addition of two compression facilities. The first facilities are [Read more]
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