CALGARY - A rail company is getting ready to launch a feasibility study this spring into its plan to send trains full of oilsands bitumen from Fort McMurray, Alta., to Alaska.From Delta Junction, in the Alaska interior, the oil would move in an existing pipeline — currently running well below its capacity — to the port of Valdez, where it would be loaded onto tankers and shipped to Asia. The railway would run about 2,400 kilometres.Under the proposal from G Seven Generations Ltd., First Nations [Read more]
Archives for 2016
Oil prices rise on Federal Reserve’s dampened expectations for interest rate increases
WTI gained 3.6% to $39.86 a barrel Thursday as the US dollar weakened after the Federal Reserve dampenened expectations for interest rate increases. This is in conjunction with major oil producers signaling a growing willingness to freeze output. Brent crude also rose 2.2% to $41.23 a barrel extending previous gains. Both WTI and Brent have recovered more than 40% since plummeting to multi-year lows at the start of 2016. The Wall Street Journal reported, "the gains follow a two-day policy [Read more]
Company that carried out shale gas fracking closes New Brunswick office
MONCTON, N.B. - The company that carried out shale gas exploration in New Brunswick has closed its office in the province.In an emailed statement, SWN Resources says the move comes amid uncertainty about the timetable for developing the shale gas industry in the province.There is a currently a moratorium on shale gas drilling put in place by the province's Liberal government.SWN Resources says there is a reduced need for an office and future project developments will be overseen from its [Read more]
Statoil ASA: Election to Statoil’s board of directors
STAVANGER, Norway, March 17, 2016 (GLOBE NEWSWIRE) -- In a meeting in the Corporate Assembly of Statoil ASA (OSE:STL, NYSE:STO) on 17 March 2016 Jeroen van der Veer was elected as a new member of Statoil's board of directors. Van der Veer was the Chief Executive Officer in the international oil and gas company Royal Dutch Shell Plc (Shell) in the period 2004 to 2009, when he retired. Van der Veer thereafter continued as a non-executive director on the board of Shell until 2013. He started to [Read more]
Victory Energy Announces A New Dryback Firetube Boiler Series
COLLINSVILLE, Okla, March 17, 2016 /PRNewswire/ -- In response to market need and overwhelming customer requests, Victory Energy announces comprehensive plans to begin manufacturing dryback FRONTIER Series firetube boilers. This product line extension compliments Victory Energy's already strong wetback firetube boiler capability. "For years, we've been asked by customers to pursue the manufacturing of dryback firetube boilers. We feel the timing is right to enter the market with a more [Read more]
Clearlake Capital Group Leads Recapitalization of Globe Energy Services
Globe Founder Troy Botts Jr. and Experienced Team to Lead Growth and Acquisition Strategy SNYDER, Texas & SANTA MONICA, Calif.--(BUSINESS WIRE)--Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and Globe Energy Services, LLC (“Globe” or the “Company”) today announced that Clearlake has led the successful recapitalization of Globe in partnership with the Company’s management team and other existing stakeholders. Terms of the [Read more]
WesternZagros Announces 2015 Fourth Quarter and Year End Results
CALGARY, ALBERTA--(Marketwired - March 17, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") announced today its operating and financial results for the fourth quarter and year ended December 31, 2015. All amounts set out in this press release are in US dollars unless otherwise stated. Commenting on the year end and subsequent events, [Read more]
Memorial Resource Development Corp. to Present at the Scotia Howard Weil Energy Conference
HOUSTON, March 17, 2016 (GLOBE NEWSWIRE) -- Memorial Resource Development Corp. (Nasdaq:MRD) announced today that Andrew J. Cozby, Senior Vice President and Chief Financial Officer, is scheduled to present at the Scotia Howard Weil Energy Conference in New Orleans, Louisiana on Tuesday, March 22, 2016 at 2:05 p.m. Central (3:05 p.m. Eastern). The presentation materials used at the conference will be available on MRD's website at www.memorialrd.com under the Investor Relations tab on March 21, [Read more]
Alberta’s alternative wind energy industry is getting bigger role
PINCHER CREEK, Alta. - There are three things one can be assured of in the Pincher Creek area of southwestern Alberta — death, taxes and the wind will blow.Windswept is the word often used to describe the region with its rolling hills, cattle ranches, farms and the Rocky Mountains to the west.And it is the wind that's eliciting some optimism at a time when Canada is seeking to reduce its carbon footprint and turn to alternative energy sources.With their giant 80-metre-high turbines stretching as [Read more]
Delphi Energy Reports 2015 Year End Results
CALGARY, ALBERTA--(Marketwired - March 16, 2016) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to announce its financial and operational results for the year ended December 31, 2015. 2015 Highlights Achieved average production of 9,469 barrels of oil equivalent per day ("boe/d") despite TCPL and Alliance pipeline curtailments and two major property dispositions during the year. The divested properties had production capability of approximately 2,600 boe/d. [Read more]
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