CALGARY - Cenovus Energy (TSX:CVE) made a splash in the oil patch Wednesday with a $17.7-billion deal to buy a big chunk of U.S.-based ConocoPhillips's oilsands assets, doubling the size of the Calgary-based company in the process. Here's a quick look at some of the other deals struck by Canadian operators: Canadian Natural Resources (TSX:CNQ) announced on March 9 plans to spend $12.7 billion buying up oilsands assets from Netherlands-based Royal Dutch Shell and U.S.-based Marathon Oil. [Read more]
Archives for March 2017
Minister Carr Meets with U.S. Energy Secretary Perry in Washington, D.C.
WASHINGTON, D.C., March 30, 2017 /CNW/ - Canada and the United States share a unique relationship, a mutually beneficial partnership forged by shared geography, common interests and two of the most integrated economies in the world. Millions of good, middle-class jobs — on both sides of the border — depend upon the free flow of goods and services between our two countries. Canada's Minister of Natural Resources, the Honourable Jim Carr, took that message to Washington, D.C. this week as part [Read more]
Ten charges laid in oil spill that fouled English Bay beaches in Vancouver
VANCOUVER - Charges have been laid against the owners of the MV Marathassa nearly two years after a leak of bunker fuel fouled the beaches of English Bay in Vancouver, but the company is trying to scuttle the case. Documents filed in British Columbia's provincial court show the Marathassa and Greece-based Alassia NewShips Management Inc. face a total of 10 charges including discharge of a pollutant, unlawful disposal of a substance and failure to implement an oil pollution emergency [Read more]
Environmental groups challenge Keystone XL pipeline approval
OMAHA, Neb. - A coalition of environmental groups is challenging the federal permit for the Keystone XL oil pipeline in court because they say additional environmental scrutiny is needed. The Sierra Club joined with several other environmental groups to file the federal lawsuit Thursday in Montana. The proposed pipeline that TransCanada wants to build would carry crude oil through Montana, South Dakota and Nebraska where it would connect with an existing Keystone pipeline network [Read more]
ExxonMobil Announces New Oil Discovery Offshore Guyana
Snoek well encounters more than 82 feet (25 meters) of high-quality, oil-bearing sandstone reservoirs Well is located about 5 miles southeast of Liza-1 discovery ExxonMobil continues to evaluate full resource potential of broader Stabroek area IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today positive results on the Snoek well offshore Guyana, confirming a new discovery on [Read more]
Yesterday’s blockbuster deal indicates Alberta’s mass exodus of multinational oil companies continues
With Cenovus yesterday announcing the blockbuster deal to buy the majority of ConocoPhillips Canadian assets (which primarily resided in Alberta) for $17.7 billion CAD, the exodus of multinational oil companies from Alberta continues. Since 2014, there have been fourteen massive deals done by multinationals to leave Alberta's energy industry. Deal size for each of the fourteen has been valued at anywhere from half a billion dollars to yesterday's largest yet of close to $20 billion. It may [Read more]
Alta Mesa Announces Fourth Quarter & Year-End 2016 Earnings Conference Call
HOUSTON, March 30, 2017 (GLOBE NEWSWIRE) -- Alta Mesa Holdings, LP announced today that it will report fourth quarter and year-end 2016 financial results on Thursday, March 30th, 2017. Alta Mesa invites you to listen to its conference call to discuss these results today at 2:00 p.m. Central time. If you wish to participate in this conference call, dial 888-347-8149 (toll free in US/Canada) or 412-902-4228 (no conference ID is required). A webcast of the call and any related materials will be [Read more]
Freehold Royalties Ltd.: Unit & Working Interest Property Divestiture – W5 Alberta Area
Sayer Energy Advisors has been engaged to assist Freehold Royalties Ltd. (“Freehold” or the “Company”) with the sale of its working interest and non-operated unit interests in oil and natural gas properties in central Alberta (the “Properties”). The Properties represent an opportunity to acquire an oil-weighted, low-decline production stream with current annualized cash flow of approximately $4.1 million, and provides exposure to a number of operated and non-operated drilling [Read more]
Razor Energy Corp. Provides an Operations Update, Announces 2017 Capital Budget and Guidance, and 2016 Year-End Results
CALGARY, ALBERTA--(Marketwired - March 30, 2017) - Razor Energy Corp. ("Razor" or the "Company") (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce our operating and financial results for the three and 12 month periods ended December 31, 2016. Our full audited consolidated financial statements and notes thereto, as well as management's discussion and analysis ("MD&A") can be found on SEDAR at www.sedar.com. OPERATIONS UPDATE Since entering negotiations to acquire oil and gas [Read more]
Buckeye Partners, L.P. Announces Plans for a Long-Haul Permian-To-Corpus Christi Pipeline Binding Open Season and Further Development of Its South Texas Distribution Capabilities
HOUSTON, March 30, 2017 (GLOBE NEWSWIRE) -- Buckeye Partners, L.P. (“Buckeye”) (NYSE:BPL) today announced that it is preparing for a binding open season in connection with the development of a new crude oil pipeline from the Permian Basin to Corpus Christi, Texas. The pipeline is part of a series of potential investment projects Buckeye is pursuing in order to significantly enhance Permian Basin crude oil flows, including the construction of a crude oil distribution system in Corpus Christi [Read more]
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