CALGARY - Alberta Premier Rachel Notley says a decision by the city of Burnaby, B.C., to take its fight over the Trans Mountain pipeline expansion to the Supreme Court is showboating. The city has said it will ask the country's highest court for leave to appeal a lower court ruling last week. The Federal Court of Appeal dismissed a bid by Burnaby and the B.C. government to challenge a National Energy Board decision that cleared the way for Kinder Morgan to bypass local bylaws during [Read more]
Archives for March 2018
U.S. oil producer costs climb with more drilling: Fed Survey
HOUSTON (Reuters) - Oil and gas business activity continued to climb last quarter, driven by an improved oilfield services sector, but costs for goods and labor also rose, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly energy survey. About 65 percent of the 140 energy firms surveyed in Texas, southern New Mexico and northern Louisiana reported increased activity from a year ago. During that time, U.S. oil prices have climbed more than 30 percent to near $65 a barrel [Read more]
ExxonMobil to Release 2017 Financial and Operating Review
IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) will release its 2017 Financial and Operating Review on Tuesday, April 3, 2018. The report will be posted at 8 a.m. CDT at www.exxonmobil.com/annualreport. Contacts ExxonMobilMedia Relations, 972-940-6007 [Read more]
ConocoPhillips Announces Early Results of Cash Tender Offer
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) announced today the early results of the previously announced tender offer (the “Tender Offer”) of ConocoPhillips and its wholly-owned subsidiary, ConocoPhillips Company (“CPCo” and, together with ConocoPhillips, the “Company”), to purchase up to $400 million in aggregate principal amount (the “Maximum Tender Offer Amount”) of the outstanding debt securities identified in the table below (collectively, [Read more]
Newalta and Tervita File Joint Circular Seeking Shareholder Approval of Business Combination
CALGARY, March 28, 2018 /CNW/ - Newalta Corporation ("Newalta") (TSX: NAL) and Tervita Corporation ("Tervita") are pleased to announce that they have filed a joint information circular and proxy statement (the "Circular") with respect to the previously announced business combination of Newalta and Tervita which will be effected by way of a Plan of Arrangement (the "Arrangement"). The Circular will be mailed by April 9, 2018 to the securityholders of Newalta and the shareholders of [Read more]
OPEC to stick to supply curbs despite oil rally
LONDON/DUBAI, March 28 (Reuters) - OPEC and its allies look set to keep their deal on cutting oil supplies for the rest of 2018, five sources familiar with the issue said, although some producers are starting to worry that high prices may be giving too much stimulus to rival output. OPEC, Russia and several other non-OPEC producers have curbed output since January 2017 to erase a global glut of crude that had built up since 2014. They have extended the pact until the end of 2018, and meet on [Read more]
Column: Turns out Bill Nye isn’t much of a Science Guy
If you work in Canada’s oil and gas sector – or in fact any natural resource sector - you probably don’t have the media access of some of the biggest critics of your activities. Here I’m thinking of people like Leo DiCaprio, Neil Young or Jane Fonda. That’s no news flash; we know it’s just the way it’s been with celebrities who wander into discussions they don’t know much about. Sector employees and contractors, as well as indirect providers of goods and services across the country, are [Read more]
Vantage Drilling International Reports Fourth Quarter and Full-Year 2017 Results
HOUSTON, March 28, 2018 (GLOBE NEWSWIRE) -- Vantage Drilling International ("Vantage" or the “Company”) reported a net loss of approximately $36.6 million or $7.33 per share for the three months ended December 31, 2017 as compared to a net loss of $41.1 million or $8.23 per share for the three months ended December 31, 2016. For the year ended December 31, 2017, Vantage reported a net loss of approximately $149.8 million or $29.96 per share. For the period from February 10, 2016 to December [Read more]
Cona Resources Ltd. Enters into Arrangement Agreement with Waterous Energy Fund
CALGARY, March 27, 2018 /CNW/ - Cona Resources Ltd. ("Cona" or the "Company") (TSX: CONA) announced today that, further to its March 7, 2018 news release, it has entered into an arrangement agreement (the "Arrangement Agreement") with certain affiliates of Waterous Energy Fund (collectively, "WEF") whereby WEF would acquire all of the common shares of Cona ("Common Shares") not currently owned by WEF pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the [Read more]
B.C. city to take Trans Mountain pipeline fight to Supreme Court of Canada
BURNABY, B.C. - The City of Burnaby is turning to Canada's highest court in the dispute over construction of Kinder Morgan's Trans Mountain pipeline. Mayor Derek Corrigan said Tuesday the city plans to ask the Supreme Court of Canada to consider a lower court decision that denied Burnaby leave to appeal a ruling by the National Energy Board. That ruling allowed Kinder Morgan to bypass local bylaws during construction of the pipeline expansion, which will triple the amount of diluted [Read more]
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