CALGARY - Husky Energy says its thermal oilsands project that was shut down while wildfires swept through the Fort McMurray, Alta., region in May is already back to producing bitumen at its previous level. The Sunrise oilsands project is producing about 30,000 barrels per day of bitumen, the Calgary-based company said Friday. The $3.2-billion project began construction in 2014, produced first oil in March 2015 and was gradually ramping up to full capacity of 60,000 bpd when the wildfire [Read more]
Archives for 2016
Poll: 77 Percent Of Voters Agree With Trump, Want US To Produce More Oil And Gas
The majority of Americans agrees with Republican nominee Donald Trump’s pro-energy position announced in his nominee acceptance speech Thursday, according to a recent poll conducted by the American Petroleum Institute (API). “We are going to lift the restrictions on the production of American energy. This will produce more than 20 trillion dollars in job creating economic activity over the next four decades,” Trump said Thursday night when accepting the Republican nomination for president. [Read more]
Saskatchewan city prepares for possible arrival of oil from major pipeline spill
NORTH BATTLEFORD, Sask. - Attempts to stop a pipeline oil spill from flowing down a major river in Saskatchewan failed Friday and new steps were being taken to try to contain the slick. A government official said booms placed on the North Saskatchewan River by Husky Energy to contain the spill were ineffective because high water levels lifted the oil over the barriers. The official, who did not want to be named, said Husky Energy (TSX:HSE) and the government were placing booms [Read more]
Kasten Energy Inc. to File Early Warning Report
CALGARY, ALBERTA--(Marketwired - July 22, 2016) - On July 21, 2016, Kasten Energy Inc. ("Kasten") acquired 70,000,000 common shares ("Common Shares") of PetroFrontier Corp. (the "Issuer") pursuant to a transaction whereby, among other things, the Issuer acquired Kasten's resource assets in the Cold Lake area of Alberta in exchange for Common Shares, cash consideration and a convertible debenture of the Issuer (the "Debenture") in the amount of $3,000,000 (the "Transaction"). The price per [Read more]
Husky Energy Announces Third Quarter Preferred Shares Dividend Payments
CALGARY, AB--(Marketwired - July 22, 2016) - Husky Energy's (TSX: HSE) regular dividend payments on each of the Cumulative Redeemable Preferred Shares -- Series 1, Series 2, Series 3, Series 5 and Series 7 -- will be paid for the three month period ended September 30, 2016. The dividends will be payable on September 30, 2016 to holders of record at the close of business on August 29, 2016. Share Series Dividend Type Rate (%) Dividend Paid ($/share) Series 1 Regular [Read more]
Husky Energy Announces 2016 Second Quarter Results
CALGARY, AB --(Marketwired - July 22, 2016) - Husky Energy (TSX: HSE) made steady progress in the quarter against several objectives, including strengthening its balance sheet and further improving the quality of its production. "This is a milestone moment for the Company, as the elements of the transformation initiated six years ago are now largely in place," said CEO Asim Ghosh. "We have fortified our balance sheet, reduced our earnings break-even oil price and lowered our sustaining and [Read more]
Northern premiers confirm united stance against carbon price
WHITEHORSE—The premiers of Yukon, the Northwest Territories and Nunavut are once again stating that the implementation of a carbon tax would have a negative impact on the quality of life in the North. Further, Canada’s climate change goals must be conducted in a way that does not negatively impact northern costs of living, undermine food security or threaten emerging economies. Climate change is having a disproportionate effect on northern communities and Northerners are already having to [Read more]
Suncor Energy releases 2016 Report on Sustainability and new long-term sustainability goals
CALGARY, ALBERTA--(Marketwired - July 21, 2016) - Suncor Energy today announced the release of its 2016 Report on Sustainability which includes new long-term sustainability goals addressing climate change and Suncor's relationship with Aboriginal Peoples of Canada. "These areas of focus are important to the sustainability of our company, our communities, and our country," said Steve Williams, president and chief executive officer. "The way the world views energy development has [Read more]
Saskatchewan government says Husky Energy pipeline leaks oil into river
MAIDSTONE, Sask. - Oil from a Husky Energy (TSX:HSE) pipeline spilled into the North Saskatchewan River on Thursday morning upstream from Maidstone, Sask. Ralph Bock of the Environment Ministry said Husky has told government officials between 200,000 and 250,000 litres spilled. "We've got containment of the spill at the release site, which is upstream, so there is no more product being released to the river," he said Thursday afternoon. "Downstream at the Paynton Ferry, [Read more]
Encana CEO: No more job cuts planned
Encana's CEO, Doug Suttles said in a BNN interview that they have 'no plans' of cutting more jobs at the company. This despite the company saying some of its key expenses will be US$100 million less than the previous estimate and savings will be continued into 2017. Encana had a US$601 million loss in the second quarter but says the latter part of 2016 is shaping up better than expected. EThe company expects to get US$1.1 billion of proceeds from two asset sales that will close by the end [Read more]
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