CALGARY - Cenovus Energy's blockbuster $17.7-billion deal to buy most of the Canadian assets of Houston-based ConocoPhillips will likely stand as the biggest acquisition in the oilsands sector for years to come, say some industry watchers. While other deals are expected to materialize, analysts note there are fewer significant assets available after more than a year of consolidation transactions in Alberta's oilpatch worth billions. "If you think about who's left in terms of [Read more]
Oilsands showdown coming over cleanup of tailings ponds: report
EDMONTON - Alberta's oilsands could be heading for another showdown over tailings ponds after an independent assessment found that the cleanup plans of six major operators don't meet new rules. Suncor's intentions have been rejected by the Alberta Energy Regulator and a clean-energy think tank says its analysis has concluded plans by other producers have similar shortcomings. "All companies have submitted plans that are not consistent with Alberta's tailings management [Read more]
A look at the oilsands deals that have consolidated Canadian control
CALGARY - Cenovus Energy (TSX:CVE) made a splash in the oil patch Wednesday with a $17.7-billion deal to buy a big chunk of U.S.-based ConocoPhillips's oilsands assets, doubling the size of the Calgary-based company in the process. Here's a quick look at some of the other deals struck by Canadian operators: Canadian Natural Resources (TSX:CNQ) announced on March 9 plans to spend $12.7 billion buying up oilsands assets from Netherlands-based Royal Dutch Shell and U.S.-based Marathon Oil. [Read more]
Ten charges laid in oil spill that fouled English Bay beaches in Vancouver
VANCOUVER - Charges have been laid against the owners of the MV Marathassa nearly two years after a leak of bunker fuel fouled the beaches of English Bay in Vancouver, but the company is trying to scuttle the case. Documents filed in British Columbia's provincial court show the Marathassa and Greece-based Alassia NewShips Management Inc. face a total of 10 charges including discharge of a pollutant, unlawful disposal of a substance and failure to implement an oil pollution emergency [Read more]
Profits made of sand: Specialty sand market heats up as oil, gas drilling rebounds
CALGARY - Signs of the Canadian oil and gas industry's recovery from a punishing two-year downturn are emerging in unlikely places, including fine grains of sand. Demand for the especially round and crush-proof type of sand used to help extract shale oil and gas is climbing, as more drilling rigs get fired up and operators pump higher amounts of sand into wells, say industry watchers, who foresee a big jump in the year ahead. "Things have really picked up," said Thomas Jacob, an [Read more]
“Transformational acquisition” says Cenovus boss of acquiring ConocoPhillips Alberta assets
CALGARY - Cenovus Energy (TSX:CVE) announced Wednesday it will spend $17.7 billion to acquire most of the Canadian assets of ConocoPhillips, making the Houston-based company the latest international player to reduce its exposure to the oilsands. Cenovus CEO Brian Ferguson called it a "transformational acquisition" for the Calgary-based company. "The purchase of these assets is consistent with Cenovus's existing strategy and core competencies," Ferguson said in a [Read more]
NewsAlert: Cenovus Energy buying most of ConocoPhillips’ Canadian assets for $17.7B
CALGARY - Cenovus Energy (TSX:CVE) announced Wednesday it plans to swallow most of the Canadian assets belonging to ConocoPhillips in a C$17.7 billion blockbuster acquisition that builds upon a recent trend of Canadian consolidation in the oilsands. The deal makes the Houston-based ConocoPhillips the latest international player to reduce its exposure to Alberta's oilpatch. "In a low oil price environment, economies of scale are important," Cenovus CEO Brian Ferguson said on a [Read more]
Premier Brad Wall invites Calgary energy companies to relocate to Saskatchewan
CALGARY - Saskatchewan Premier Brad Wall is taking a turf war with Alberta to its economic heart, inviting energy companies based in Calgary to move their headquarters to his province. In a letter to Whitecap Resources (TSX:WCP) dated Monday, Wall offers to subsidize relocation costs, trim taxes and royalties and help find space in unused government buildings if the oil and gas firm moves to Saskatchewan. Wall cites reductions to corporate and personal income taxes promised in [Read more]
B.C. appeal court rules against Burnaby in bylaw battle with Trans Mountain
VANCOUVER - A legal battle between the City of Burnaby and the Trans Mountain pipeline expansion has ended with the British Columbia Court of Appeal ruling the National Energy Board can override municipal bylaws. The fight began in 2014 when Trans Mountain was set to begin field studies on Burnaby Mountain, which required it to cut down trees, drill boreholes and operate heavy machinery — activities that violate the city's bylaws. Before beginning the field work, the company [Read more]
Suncor says it will meet 2017 production targets despite fire at Syncrude upgrader
CALGARY - Oil production remains offline two weeks after a fire halted operations at the Syncrude oilsands mining complex in northern Alberta but its largest owner says it still expects to meet 2017 targets. Suncor Energy Inc. (TSX:SU) said Monday it was still on track to meet its guidance issued in November of between 680,000 and 720,000 barrels of crude per day, in part because of strong results from its other oilsands and offshore assets. The company's forecast called for between [Read more]
- « Previous Page
- 1
- …
- 301
- 302
- 303
- 304
- 305
- …
- 547
- Next Page »