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Canada U.S. ties would suffer from a Keystone rejection: Redford

  OTTAWA - A U.S. rejection of the Keystone XL pipeline proposal would have far-reaching implications for the Canada-U.S. relationship, Alberta Premier Alison Redford warns. In an interview with The Canadian Press on Monday, Redford said Canada and the United States have a long history of economic integration that would be thrown into question by a 'No' to the pipeline. "This is fundamental and I don't think this is as simple as yes or no on a project," she said during a three-day [Read more]

Oil recovers from early losses as worries about Europe dwindle; natural gas rises

  NEW YORK, N.Y. - The price of oil reversed sharp early losses Monday as nervousness over a bailout plan in Cyprus abated. By early afternoon in New York, benchmark West Texas Intermediate crude for April delivery was down just three cents at US$93.42 a barrel after having dropped as low as US$91.76. Traders initially worried about possible fallout from a plan to pay for a bailout for cash-strapped Cyprus by slapping a tax on deposits in the country's banks. Some bank customers [Read more]

Oklahoma company Williams plans petrochemical feedstock plant near Edmonton

  CALGARY - An Oklahoma-based company plans to spend up to $900 million to build a plant that converts Alberta propane into a more valuable product used to make plastics. Williams says the facility will be the first in Canada to make polymer-grade propylene. The gas will be transported on railcars to U.S. Gulf Coast petrochemical producers, but the company is also exploring ways to develop a market within Alberta. Much of the propane Williams will use is a byproduct of the [Read more]

Redford calls Mulcair’s comments in U.S. “RIDICULOUS”

  OTTAWA - Alberta's premier says comments made by Opposition leader Thomas Mulcair in the U.S. last week were ridiculous. Alison Redford tells The Canadian Press she's disappointed Mulcair seems to be taking the issue of Canada's energy market lightly and called his trip a political stunt. Mulcair was in the U.S. capital last week and spoke out against Canada's environmental record, while also warning that the proposed Keystone XL pipeline would cost 40,000 Canadian [Read more]

Ensign Energy Q4 profit contracts 8%; reflects slowdown in the oilpatch

  CALGARY - Ensign Energy Services Inc. (TSX:ESI) is reporting an eight per cent decrease in fourth-quarter earnings, reflecting a slowdown in the oilpatch. The Calgary-based oilfield services company says net income fell to $48.5 million or 32 cents per share compared with $52.6 million or 34 cents in the same period of 2011. Revenue for the three months ended Dec. 31 was $530.1 million, also down eight per cent, from $578 million in the same 2011 period. Funds from operations [Read more]

Anderson Energy Announces 2012 Fourth Quarter and Year End Results

CALGARY, ALBERTA--(Marketwire - March 18, 2013) - Anderson Energy Ltd. ("Anderson" or the "Company") (TSX:AXL) is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2012. HIGHLIGHTS The Company completed its Cardium horizontal light oil winter drilling program using slick water frac technology. Initial production results were vastly superior to previously used fracture stimulation techniques. The average initial [Read more]

Northern Gateway panel tangled in complex web of aboriginal rights, title

  By Dene Moore and Will Campbell A top Northern Gateway Pipelines official says the company is trying to balance the many competing interests in the project, and realizes it may be impossible to satisfy them all. Federal review hearings into the $6-billion pipeline project continue Monday in Prince Rupert, where the three-person panel has been hearing about the company’s aboriginal engagement and public consultation. “I think it is important to understand this is a very diverse [Read more]

Redford government spends $30,000 on pro-Keystone ad in New York Times

  The Alberta government, continuing to press its case for the Keystone XL pipeline, took out an ad in Sunday’s New York Times newspaper, tying the controversial project to core American values and to U.S. pride in its military. The half-page ad is headlined “Keystone XL: The Choice of Reason.” It acknowledges the validity of environmental concerns, but stresses the $7-billion pipeline is about much more than that. “America’s desire to effectively balance strong environmental [Read more]

Calgary police charge woman with $1.6M fraud from 5 oil companies

  CALGARY - A Calgary woman has been charged with stealing more than $1.6 million from five oil and gas companies. Police say the woman worked in the payroll department at each company. It's alleged that over six years, she altered payroll deposits by either re-instating former employees, or creating fictional employees and directing their payroll deposits into her personal bank account. Roslyn Rhae Thomas, who is 44, is charged with fraud, theft and possession of stolen [Read more]

Anterra and Terrex Complete Business Combination

CALGARY, ALBERTA--(Marketwire - March 15, 2013) - Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A) and Terrex Energy Inc. ("Terrex") (TSX VENTURE:TER) are pleased to announce the completion of the previously announced business combination by way of a court and securityholder approved, statutory plan of arrangement (the "Arrangement"). Effective March 14, 2013, Anterra acquired 100% of the issued and outstanding common shares in the capital of Terrex ("Terrex Shares"), in [Read more]