DENVER - The head of the energy company formerly called Encana is retiring this summer. Ovintiv Inc. says chief executive Doug Suttles will retire Aug. 1 after eight years in the position. He will be replaced by Brendan McCracken, who began his career with the company nearly 25 years ago. He served most recently as president. Ovintiv chairman Peter Dea says that under Suttles' leadership, Ovintiv was transformed into a leading North American resource play company. Dea adds that [Read more]
Crescent Point sells non-core southeast Saskatchewan assets for $93 million
CALGARY - Crescent Point Energy Corp. has sold its remaining non-core southeast Saskatchewan conventional assets for $93 million. As a result of the transaction, the Calgary-based company says it has also reduced its asset retirement obligations by about $220 million, or nearly a quarter of its overall obligations as of March 31. The assets generated minimal free cash flow, after incorporating development capital required to sustain production and reclamation activities, despite [Read more]
Worker operating excavator killed at Syncrude mine site in northern Alberta
FORT MCMURRAY - Occupational Health and Safety says a Syncrude employee operating an excavator was killed Sunday at an oilsands mine in northern Alberta. Government spokeswoman Natasha McKenzie says it happened at the company's Aurora mine, about 70 kilometres north of Fort McMurray. McKenzie says no other details can be released as the death is still being investigated. Syncrude says in a statement that the worker died Sunday evening "despite emergency response efforts." The company [Read more]
Energy regulator orders Trans Mountain to stop tree clearing work on project
KAMLOOPS, B.C. - The Canada Energy Regulator has issued an order stopping tree cutting and grass mowing across the entire $12.6-billion Trans Mountain pipeline expansion project. A statement from Trans Mountain says the regulator's order was issued after a subcontractor started tree cutting and mowing activities without completing the necessary environmental compliance work. The statement says no birds or bird nests were impacted by the clearing work. Trans Mountain says it is working [Read more]
Insurance provider for Trans Mountain pipeline says it won’t renew policy
An insurance provider for the Trans Mountain pipeline says it will not renew its policy with the company when it expires in August. Argo Group International Holdings Ltd., an international underwriter based in Bermuda, says the project no longer fits the company's risk appetite. The decision by Argo Group comes even after the operator for Trans Mountain received regulatory approval to protect the identity of its insurers. Trans Mountain had argued that identifying its insurers could [Read more]
Michigan responds on Line 5: ‘This case is a state-law action through and through’
WASHINGTON - Lawyers for the state of Michigan say the dispute over the Line 5 pipeline belongs in state court, countering efforts by Canada and others to have it heard by a federal judge. In documents filed in court Tuesday, Michigan Attorney General Dana Nessel also argues that Canada has no legal basis to invoke a 1977 treaty that covers cross-border pipelines. The brief is Michigan's stern reply to the argument by Calgary-based Enbridge Inc., the pipeline's owner, that the case belongs [Read more]
Brookfield Infrastructure raises hostile takeover offer for Inter Pipeline
Brookfield Infrastructure Partners LP is raising its hostile takeover offer for Inter Pipeline Ltd. to top a friendly deal the company struck to be acquired by Pembina Pipeline Corp. Brookfield Infrastructure says its offer is valued at $19.75 per Inter Pipeline share including 74 per cent in cash and 26 per cent in shares. Inter Pipline's deal with Pembina would see shareholders receive half a Pembina share for each Inter Pipline share they hold, an offer worth about $18.91 per share [Read more]
Canadian drilling contractor association changes name to reflect energy transition
CALGARY - A 72-year-old bastion of the Canadian oilpatch has changed its name and mandate in a sign of the times as the world reduces its use of fossil fuels in favour of cleaner, greener forms of energy. The Canadian Association of Oilwell Drilling Contractors says it will become the Canadian Association of Energy Contractors after extensive member and industry consultations. It says it is also adopting an expanded mandate to reflect its members' roles in developing hydrogen, helium, [Read more]
Trans Mountain pipeline begins construction of tunnel in Burnaby, B.C.
BURNABY, B.C. - Construction has begun on the 2.6-kilometre tunnel in Burnaby, B.C., for the Trans Mountain pipeline expansion project. The company says in a news release the work on the tunnel connecting the Westridge Marine and Burnaby terminals began Wednesday. It says the start of construction of the tunnel represents one of the major components of the expansion project in the Lower Mainland and is expected to take a little over half a year to complete. The tunnel construction began [Read more]
Abandoned oil and gas wells will be cleaned up despite backlog: Alberta regulator
EDMONTON - The head of Alberta's energy regulator says his agency has all the tools it needs to be able to clean up the province's massive backlog of abandoned and inactive oil and gas wells. And Laurie Pushor, now a year into his tenure at the helm of the Calgary-based Alberta Energy Regulator, says the office is gradually regaining the trust of Albertans. More than half the province's wells are no longer producing and the regulator has predicted the number of those wells would double [Read more]
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