CALGARY - Cenovus Energy Inc. has hired Husky Energy Inc. executive Jonathan McKenzie as its next chief financial officer. McKenzie had been Husky's chief financial officer since 2015. Previously, he worked at Irving Oil Ltd. as chief financial officer and chief commercial officer. He will replace Ivor Ruste at Cenovus who is set to retire on April 30. Husky says McKenzie has resigned from his position effective Thursday. It says controller Jeff Hart has [Read more]
Energy, environment to be focus of Trudeau trip to western Canada
OTTAWA - Prime Minister Justin Trudeau faces a balancing act over the next couple of days as he takes the seemingly opposing messages of environmental protection and resource development to western Canada. After beginning the day with a speech to G7 business leaders in Quebec City, Trudeau heads west — first to Victoria to speak to Canadian Coast Guard workers, then to Vancouver for a roundtable discussion on clean technology. Hundreds, possibly thousands, of protesters who oppose the [Read more]
Crescent Point buys ‘dominant’ stake in Alberta’s East Shale Duvernay oil play
CALGARY - Crescent Point Energy Corp. says it has acquired a significant stake in Alberta's promising East Shale Duvernay light oil region, amassing a total of 142,000 hectares of drilling rights for about $112 million. The Calgary-based company is the largest oil producer in Saskatchewan and has assets in North Dakota and Utah, but had not until now taken a large presence in its home province. CEO Scott Saxberg says the company picked up acreage in west-central Alberta [Read more]
Alberta premier heads to Toronto, U.S. to build support for pipelines
EDMONTON - Alberta Premier Rachel Notley says she will soon head to Toronto and New York to rally support among business leaders for the Trans Mountain oil pipeline expansion. Notley says she will also take her message to a meeting of U.S. and Mexican governors and Canadian premiers in Scottsdale, Ariz., in early May. Details of who the premier will meet with and when have not been released. The premier said it's imperative to keep up pressure to get the Trans Mountain expansion [Read more]
ConocoPhillips spends $154M to increase Canadian Montney stake
CALGARY - Houston-based ConocoPhillips Co. says it is selling oil and gas assets in the United States while increasing its stake in Western Canada. The company that sold most of its Canadian oilsands and conventional drilling operations to Cenovus Energy Inc. last year says it recently closed or signed deals to sell C$320 million in non-core assets in the U.S., including several packages in the Permian Basin of Texas. It says it spent C$154 million to add 14,000 hectares to its existing [Read more]
Canadian light oil prices hit with same discounts afflicting oilsands prices
CALGARY - The same factors that have inflated the discount paid for Canadian oilsands heavy crude compared with U.S. oil are also driving a substantial rise in the discount for light Canadian oil, according to a report from accounting firm Deloitte published Tuesday. The difference between New York-traded West Texas Intermediate and Edmonton Light oil prices widened to US$7.32 per barrel in January, an 86 per cent increase over the average of US$3.93 per barrel in the fourth quarter of last [Read more]
Regulator suspends oil and gas firm’s licences after emergency number unattended
CALGARY - The Alberta Energy Regulator says it has suspended the licences of an oil and gas producer after no one answered its 1-800 emergency phone line when one of its hydrocarbon handling facilities appeared to be leaking. In a notice on its website, the regulator says it has yanked licences for nearly 30 wells, a similar number of pipeline segments and four facilities from Insch Commodity Ltd., a Warburg, Alta.-based company. It says the apparent leak was reported in an anonymous call [Read more]
Keyera to acquire Pipestone infrastructure project from Encana under multi-year deal
CALGARY - A subsidiary of Keyera Corp. will purchase Encana's Pipestone liquids hub and the planned Pipestone processing facility in western Alberta under an agreement announced Monday. The Pipestone liquids hub is under construction near Grande Prairie, Alta., with operations expected to start in the fourth quarter of 2018. Keyera will acquire and fund the remaining development cost of the hub, estimated at $105 million. It will also own and fund the planned Pipestone processing [Read more]
Investment outflow from Canada already underway in ‘real time’: RBC head
OTTAWA - The head of one of Canada's largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it's already leaving in "real time." RBC president and CEO Dave McKay discussed some of his biggest concerns about Canadian competitiveness, particularly those related to recent U.S. tax reforms, during a recent interview. Ottawa has come under pressure from corporate Canada to respond to a U.S. tax overhaul [Read more]
Connacher wins court approval to seek bidders for its oilsands assets
CALGARY - Oilsands producer Connacher Oil and Gas Ltd. has won court approval for a process to find a buyer or investor that could allow it to emerge from Companies' Creditors Arrangement Act protection after nearly two years. A court ruling Wednesday approves the Calgary-based company's agreement with its first lien lenders — owed about $141 million — to launch a process that envisions a May 23 initial bid deadline and court approval of a transaction in July. An attempt to sell [Read more]
- « Previous Page
- 1
- …
- 229
- 230
- 231
- 232
- 233
- …
- 530
- Next Page »