TORONTO - The price of oil hit a four-year high and the Canadian dollar rose to its highest level since May on Monday, but the reaction in North American markets to a tentative trade deal to replace NAFTA was pretty subdued. After rising sharply in early trading, markets ended the day moderately higher mainly due to the performance of the important energy sector in Canada and of General Electric Co. in the U.S. The S&P/TSX composite index hit a high of 16,193.06 but closed up [Read more]
Shares in MEG Energy soar after Husky Energy makes hostile takeover offer
CALGARY - Shares in MEG Energy Corp. soared in early trading following a hostile takeover offer announced Sunday by Husky Energy Inc. MEG shares were up $2.94 or about 37 per cent at $10.97 in early trading on the Toronto Stock Exchange after going as high as $11.70. Husky shares were down $1.63 or about seven per cent at $21.05. The hostile offer is a combination of cash or shares worth $11 for each MEG share. The maximum cash available under the deal is capped at $1 billion and the [Read more]
Encana to sell assets in New Mexico’s San Juan Basin for $615 million
CALGARY - Encana Corp. has an agreement to sell its San Juan assets in New Mexico to a Denver-based company for nearly $615 million. The Calgary-based oil and gas producer's San Juan assets include lands that produce the equivalent of 5,400 barrels per day of oil. Denver-based DJR Energy, LLC says the US$480-million acquisition will about double its land in the San Juan Basin to 350,000 net acres (141,639 hectares) and increase its production to more than 6,000 barrels per day. [Read more]
Calgary-based Husky Energy makes $6.4B hostile bid to acquire MEG Energy
CALGARY - A major merger could be in the works in Canada's oil patch. Husky Energy Inc. is making a hostile bid to acquire MEG Energy Corp. in a transaction valued at $6.4 billion. In a statement issued Sunday afternoon, Husky says the proposed merger "will create a stronger Canadian energy company." The new, Calgary-based operation would have the capacity to produce more than 400-thousand barrels of oil equivalent per day. The proposal has been unanimously [Read more]
LNG Canada project would provide new market, says Canada’s largest gas producer
BANFF, Alta. - A positive final investment decision for LNG Canada could eventually encourage other projects to follow suit, creating demand needed to soak up Western Canada's glut of natural gas, producers say. The projects would eventually provide a market for gas companies that are now discouraged from increasing production by low prices linked to fierce U.S. competition and Canadian pipeline capacity shortfalls, said Steve Laut, executive vice-chairman of Canada's largest natural gas [Read more]
Alberta premier to give duelling speech countering anti-pipeline activist
EDMONTON - Alberta Premier Rachel Notley says she will go up against controversial anti-pipeline activist Tzeporah Berman in duelling speeches next month. "I will be going myself to make the case for Alberta and our industry to counter misinformation and ensure that the whole story is told," Notley said to applause in a speech Thursday to the Alberta Urban Municipalities Association in Red Deer. Berman is scheduled to speak at the Alberta Teachers' Association convention on Oct. 13 at the [Read more]
Oilsands producer Cenovus shares get a lift from crude rail deals
CALGARY - Cenovus Energy Inc. shares increased nearly seven per cent after the oilsands producer said it signed three-year deals with Canada's major rail companies to move 100,000 barrels per day of heavy crude oil by rail. The Calgary-based company's shares gained 81.5 cents or 6.8 per cent at $12.825 in late-morning trading on the Toronto Stock Exchange. Chief executive Alex Pourbaix said after markets closed on Wednesday that the deals will allow the company to go around [Read more]
Feds try to pull cloak of secrecy over court case on pipeline spy allegations
OTTAWA - Federal lawyers want closed-door hearings in a high-profile court case about allegations of Canadian Security Intelligence Service spying on anti-pipeline activists. The civil liberties group behind a complaint about the purported CSIS wrongdoing opposes the federal secrecy request, saying it blatantly violates the principle that justice must be seen to be done. The matter is slated to be heard today in an open session of the Federal Court of Canada. The judge's decision will [Read more]
Trans Mountain CEO says pipe construction could restart in 2019 on NEB timeline
CALGARY - The president and CEO of Trans Mountain Corp. says its sidelined pipeline project could be back on track by next year under a new National Energy Board hearing schedule, setting it up for a possible 2022 opening date. The timeline unveiled by the federal pipeline regulator on Wednesday is "reasonable and fair," said Ian Anderson, the former CEO of Kinder Morgan Canada who became head of the resulting Crown corporation when Ottawa closed its $4.5-billion purchase of the pipeline and [Read more]
Notley’s NDP dropping the ball on fighting anti-pipeline bills, says UCP’s Kenney
CALGARY - Alberta Premier Rachel Notley is rejecting accusations she dropped the ball by waiting too long to publicly take on the feds over two bills her government believes could seriously harm its oil and gas industry. "We've been very engaged on it. We've been on it all along," Notley told reporters Wednesday. "We are focused on a problem-solving approach to addressing this legislation, not a blow-it-all-up and return to a polarized debate that gets nothing done." Notley made the [Read more]
- « Previous Page
- 1
- …
- 216
- 217
- 218
- 219
- 220
- …
- 554
- Next Page »