CALGARY - TransCanada's already hefty North American natural gas pipeline footprint is poised to get even bigger with a US$13-billion deal to buy Columbia Pipeline Group.Columbia operates a 24,000-kilometre pipeline network that stretches from New York to the Gulf of Mexico, tapping into prolific shale gas deposits in the northeastern United States.The deal is expected to close in the second half of this year. Once it does, TransCanada will control a 91,000-kilometre gas pipeline system that [Read more]
Company preparing feasibility study to ship oilsands crude by rail to Alaska
CALGARY - A rail company is getting ready to launch a feasibility study this spring into its plan to send trains full of oilsands bitumen from Fort McMurray, Alta., to Alaska.From Delta Junction, in the Alaska interior, the oil would move in an existing pipeline — currently running well below its capacity — to the port of Valdez, where it would be loaded onto tankers and shipped to Asia. The railway would run about 2,400 kilometres.Under the proposal from G Seven Generations Ltd., First Nations [Read more]
Company that carried out shale gas fracking closes New Brunswick office
MONCTON, N.B. - The company that carried out shale gas exploration in New Brunswick has closed its office in the province.In an emailed statement, SWN Resources says the move comes amid uncertainty about the timetable for developing the shale gas industry in the province.There is a currently a moratorium on shale gas drilling put in place by the province's Liberal government.SWN Resources says there is a reduced need for an office and future project developments will be overseen from its [Read more]
Alberta’s alternative wind energy industry is getting bigger role
PINCHER CREEK, Alta. - There are three things one can be assured of in the Pincher Creek area of southwestern Alberta — death, taxes and the wind will blow.Windswept is the word often used to describe the region with its rolling hills, cattle ranches, farms and the Rocky Mountains to the west.And it is the wind that's eliciting some optimism at a time when Canada is seeking to reduce its carbon footprint and turn to alternative energy sources.With their giant 80-metre-high turbines stretching as [Read more]
Saskatchewan premier wants $570M from Ottawa in federal budget
REGINA - Saskatchewan has put money into a federal program to help other provinces and now it's time to get some payback, says Premier Brad Wall.Wall says he'd like Saskatchewan to get at least $570 million in new funding in next week's federal budget. That's the amount the province will pay into equalization this year.Equalization transfers funds from "have" to "have-not" provinces so that poorer jurisdictions can offer government services at levels similar to elsewhere.Wall says it doesn't [Read more]
Natural gas supply in B.C. dramatically greater than original estimates
CALGARY - One of the world's largest supplies of shale natural gas is sitting beneath an area spanning the British Columbia, Yukon and Northwest Territories boundaries, according to a new study.But with dismal commodity prices and no immediate way to export the gas to global markets, the prospect of a development bonanza in the Liard Basin is far from certain.The study was a joint effort by the National Energy Board, the B.C. Oil and Gas Commission, the Yukon Geological Survey, the Northwest [Read more]
Bellatrix Exploration takes writedown hit in Q4, posts $356.6 million net loss
CALGARY - Bellatrix Exploration Ltd. (TSX:BXE) had a $444.2-million net loss last year, most of it due to asset writedowns in the fourth quarter, but says it exceeded its 2015 expense-reduction target and spent less money than it produced in the quarter.Net loss for the quarter was $356.6 million or $1.86 per share, which compared with a year-earlier profit of $54.83 million or 29 cents per share. Revenue dropped to $72.1 million from $130.2 million in the fourth quarter of 2014.The loss was [Read more]
Alberta energy minister keen on industry group’s well cleanup proposal
CALGARY - A proposal to use federal infrastructure funds to accelerate the cleanup of inactive oil and gas wells in Alberta — with the aim of spurring employment in the ailing industry — has the thumbs-up of the province's energy minister.The Petroleum Services Association of Canada announced Monday that it made the $500-million pitch to Ottawa earlier this month. The sum would cover a small fraction of the work needed to decommission the 75,000 wells across the province that are no longer [Read more]
Couche-Tard rolling out Circle K banner throughout southeastern U.S. this spring
LAVAL, Que. - Alimentation Couche-Tard Inc. says its Circle K brand will be in place at hundreds of additional U.S. stores by this spring as the Quebec-based company moves to adopt a global identity for its convenience stores and gas stations. Couche-Tard (TSX:ATD.B) says it's on track to put the new image on more than 400 stores in the southeastern United States by the end of its financial year, which concludes in April.In total, it expects to rebrand more than 1,000 stores in the region as it [Read more]
Oil and gas group asks for federal funds to clean up inactive wells
CALGARY - The Petroleum Services Association of Canada has asked Ottawa for $500 million in infrastructure spending to clean up inactive oil and gas wells in Alberta, a move the group says would provide a much-needed boost for the ailing industry.Mark Salkeld, who heads up the association, said as of January of this year there were more than 75,000 wells that need to be decommissioned across the province and the sums being requested would cover a small fraction of the task."The oilfield services [Read more]
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