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Talisman Energy posts Q2 operating loss

  CALGARY - Talisman Energy Inc. (TSX:TLM) is reporting an operating loss in the second quarter, worse than analysts had expected from the Calgary-based oil and gas producer.Talisman reported a $27 million loss from operations, or three cents per share, in the quarter — down from a year earlier profit of $71 million or seven cents per share.Analysts polled by Thomson Reuters had recently lowered their estimates for Talisman to less than a cent per share of adjusted earnings.The [Read more]

Keystone XL proponents wonder: where Obama got his low job creation numbers?

  By Lee-Anne Goodman WASHINGTON - U.S. President Barack Obama's latest public comments on TransCanada's Keystone XL pipeline have highlighted the wildly divergent job estimates associated with the project while raising concerns among American proponents that he's poised to reject it. The White House hasn't responded to queries about where the president got his paltry estimate of 2,000 potential jobs during a recent interview with the New York Times. A spokesman said simply that [Read more]

NEB says oilsands, destination for oil won’t be weighed in Trans Mountain review

  CALGARY - The National Energy Board says the environmental impacts of oilsands development won't be part of its review of Kinder Morgan's proposal to nearly triple the size of its Trans Mountain pipeline.Even though Kinder Morgan hasn't filed a regulatory application for the project yet, the NEB has released a list of issues it intends to weigh during the review process.The federal energy watchdog says it will look at the project's impact on landowners and First Nations along the [Read more]

Saudi Prince: Fracking threats Kingdom

A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed elsewhere around the world. Billionaire Prince Alwaleed bin Talal said the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues. His warning comes as rising shale energy supplies in the United States cut global demand for Saudi oil. In an open letter to his country's oil minister Ali al Naimi and other government heads, published on [Read more]

TransCanada sticks by its numbers after Obama challenges Keystone job estimates

  CALGARY - TransCanada Corp. insists that the proposed Keystone XL pipeline will create about 20,000 jobs, despite suggestions by U.S. president Barack Obama that those estimates might be unrealistic.In an interview with The New York Times this weekend, Obama said that based on "the most realistic estimates" the project might create "maybe 2,000 jobs" during the construction of the pipeline."...and then after that we're talking about somewhere between 50 and 100 jobs in an economy of [Read more]

Some say industry arrogance fueled fracking anger

By Kevin Begos Associated Press PITTSBURGH (AP) — The boom in oil and gas fracking has led to jobs, billions in royalties and profits, and even some environmental gains. But some experts say arrogance, a lack of transparency and poor communication on the part of the drilling industry have helped fuel public anger over the process of hydraulic fracturing, or fracking. “It’s a big issue for the industry. I have called for greater transparency. That is the only way to have an honest [Read more]

Oil by rail requires special care: experts

  OTTAWA - The sort of disaster that struck Lac-Megantic may thankfully be rare but the consequences are so grave when serious derailments involving oil do occur, extraordinary measures must be taken to prevent them, say proponents of stricter protocols.A Montreal, Maine & Atlantic train carrying 72 tank cars filled with oil exploded after it unexpectedly began rolling and went off the tracks in the small Quebec town on July 6, taking an estimated 47 lives.The disaster — one of the [Read more]

Encana-proposed drilling in southern Michigan draws attention

LANSING, Mich. (AP) — A proposal to drill as many as 500 wells in Michigan’s northern Lower Peninsula by using hydraulic fracturing is attracting attention and criticism from environmentalists. Encana Corp., which has drilled about a dozen wells since 2009, has proposed the new wells, The Detroit News reported, and spokesman Doug Hock says the company is “in the early stages” of new drilling in Michigan. Until “we do the exploration, we won’t know whether we have something that can scale [Read more]

Yangarra Appoints New Director

Yangarra Resources Ltd. ("Yangarra" or "the Company") (TSX-V:YGR) announces the appointment of Alan T. Pettie Q.C. to its Board of Directors. Mr. Pettie currently is a senior partner at Burnet, Duckworth & Palmer LLP ("BD&P") with over 35 years of experience focused on the oil and natural gas industry. He received his Bachelor of Laws from the University of Alberta in 1977 and has practiced law continuously since that time with BD&P. Mr. Pettie has extensive background with [Read more]

Redford, Clark talk energy exports in Ontario

  NIAGARA-ON-THE-LAKE, Ont. - Senior bureaucrats in Alberta and British Columbia have been tasked with thawing a frosty relationship between the two provinces around energy exports.Alberta Premier Alison Redford and B.C. Premier Christy Clark emerged from a meeting of provincial premiers in Ontario to announce they have formed a working group led by the two top energy officials from each province.Alberta and B.C. are at odds over the proposed Northern Gateway pipeline, which would ship [Read more]