CALGARY, ALBERTA--(Marketwired - May 23, 2016) - Suncor today announced it has begun the remobilization process of its employees to support the staged restart of its operations in the Regional Municipality of Wood Buffalo (RMWB). The evacuation order was lifted by the Regional Emergency Operations Centre the evening of May 20, 2016. In addition, Suncor continues to assess the situation, including fire risk, air quality, employee mobility, accommodations and services for employees and [Read more]
Archives for 2016
Alberta wildfire expected to have relatively modest macro-economic impact: Morneau
OTTAWA - Finance Minister Bill Morneau says he expects the Alberta wildfires to have a relatively modest impact on the broader economy.Morneau also says the economic fallout from the disaster will be largely contained to the current quarter of the fiscal year.A huge wildfire forced the evacuation of Fort McMurray as well as the shutdown of some economically important oilsands operations.The blaze also destroyed 2,400 buildings in Fort McMurray.Morneau says investments over the coming months in [Read more]
Long Run Exploration Ltd. Provides Further Update to Timing of Arrangement
CALGARY, ALBERTA--(Marketwired - May 20, 2016) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) has been advised by Calgary Sinoenergy Investment Corp. (the "Purchaser") that the outside date of the proposed plan of arrangement involving Long Run, the Purchaser and the Long Run securityholders (the "Arrangement") has been extended from May 30, 2016 to June 29, 2016. Under the Arrangement, the Purchaser has the right to extend the outside date in 30-day increments if the [Read more]
‘Relatively aggressive’ change needed to lift Canada’s economy, Barton warns
MONTREAL - The man hand-picked to help revive the Canadian economy enters the job with a lot of hope, but he's adamant that the country needs to act — and soon. Dominic Barton, the global managing director of consulting giant McKinsey & Co., was tapped by Finance Minister Bill Morneau to chair a federal advisory council responsible for drawing up a plan to lead Canada out of its cycle of feeble economic growth. Barton spoke to The Canadian Press in a wide-ranging interview about his [Read more]
Kinder Morgan Trans Mountain Expansion Project Advances; National Energy Board Finds Project to Be in the Public Interest and Recommends Approval
HOUSTON--(BUSINESS WIRE)--$KMI #KinderMorgan--Canada’s National Energy Board (NEB) has concluded that the Trans Mountain Expansion Project is in the public interest and recommended the Federal Governor in Council approve the proposed expansion. The NEB’s recommendation will allow the Project to proceed with 157 conditions if the Governor in Council approves the project. The Federal Government will make the final decision on the Project in December 2016. [Read more]
Range Energy Resources Inc. Announces Closing of Second and Final Tranche of Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2016) - Range Energy Resources Inc. (the "Company") (CSE:RGO)(FRANKFURT:YGK) is pleased to announce that further to its news release dated April 12, 2016, the Company closed the second and final tranche of the non-brokered Private Placement for a total of 36,820,000 units (the "Units") of the Company at a price of CDN$0.035 per Unit for gross proceeds of approximately CDN$1,288,700. Each Unit consists of one (1) common share and one (1) [Read more]
Bonterra Energy Corp. Announces Approval of All Resolutions at Annual Meeting of Shareholders and Voting Results
CALGARY, ALBERTA--(Marketwired - May 20, 2016) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) announced that at its annual meeting of shareholders held on May 19, 2016, a total of 21,880,377 shares, representing 66.02% of common shares outstanding, were represented in person or by proxy. Shareholders approved all resolutions listed in the management information circular dated April 7, 2016, including the election of each of the five nominees proposed as directors. The detailed [Read more]
Connacher Oil gets court OK to put oilsands leases, plants up for sale
CALGARY - Connacher Oil and Gas Ltd. and its court-appointed monitor are seeking offers for its oilsands leases and extraction plants.The Calgary-based company says prospective buyers have until June 30 to submit initial non-binding letters of intent.Connacher's assets include two extraction facilities that produced about 14,500 barrels per day in 2015. Currently, their output has been reduced to 8,000 barrels per day due to low commodity prices.The company also has 87,000 net acres (35,200 [Read more]
Despite regulator approval, more hurdles await Trans Mountain pipeline:Observers
CALGARY - Canada's national pipeline regulator has signed off on a proposal to triple the capacity of the Trans Mountain pipeline from Alberta's oilsands to the West Coast but neither opponents or supporters consider its construction a fait accompli.The National Energy Board said Thursday that the controversial $6.8-billion project proposed by Kinder Morgan is in Canada's best interest, provided 157 conditions are met. It forwarded its recommendation to the federal cabinet for a decision [Read more]
Connacher Oil and Gas Limited Announces that its Oil Sands Assets Are for Sale Pursuant to a Sale and Investment Solicitation Process
CALGARY, May 19, 2016 /CNW/ - On May 17, 2016, Connacher Oil and Gas Limited ("Connacher" or the "Corporation") commenced proceedings and obtained court protection under the Companies' Creditors Arrangement Act ("CCAA") pursuant to an initial order granted by the Court of Queen's Bench, in the Province of Alberta (the "Initial Order"). Ernst & Young Inc. has been appointed Monitor (the "Monitor") of the Corporation for the CCAA proceedings. Pursuant to the Initial Order, the Corporation [Read more]
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