CALGARY - Sunshine Oilsands Ltd. (TSX:SUO) says it's negotiating to form a 50-50 joint venture with an unidentified partner that would invest up to $250 million in some of its oilsands leases.The Calgary-based company says the partner would also contribute thermal enhanced recovery technology to achieve 5,000 barrels per day from its Muskwa and Godin area oilsands leases.Sunshine also says that work on its West Ellis project near Fort McMurray, Alta., has been temporarily slowed until [Read more]
Pipelines as nation builders? Historians dubious of railway comparisons
CALGARY (Canadian Press) - To hear some proponents of the Energy East project tell it, when the taps open on the $12-billion oil pipeline the moment will be as significant as when the last spike was driven into the Canadian Pacific Railway almost 128 years ago.Linking western crude to eastern markets would be a huge undertaking — it's the most expensive project in TransCanada Corp.'s (TSX:TRP) more than 60-year history — but some observers are dubious Energy East will one day be worthy of its [Read more]
Saskatchewan court grants injunction against band members’ oil protest
NORTH BATTLEFORD, Sask. - A Saskatchewan court has banned protesters from interfering with oil exploration work on a reserve in the west-central part of the province.The Thunderchild First Nation asked for the injunction against some of its members who have been have been camped out on the oil exploration site for the past few weeks.The protesters say the Sundance grounds are a sacred site and development should not be happening anywhere near them.On Friday in Saskatoon, band lawyer [Read more]
Acquisition of HMA Land Services Limited by RPS Energy Canada Ltd
HMA Land Services Limited (HMA) and RPS Energy Canada Ltd (RPSEC) are pleased to announce that, with effect from August 15th 2013, HMA Land has become part of RPS Energy Canada Ltd (RPSEC) and will be included in the Energy Division of RPS Group plc (RPS). HMA will now trade as RPS HMA. RPS considers HMA to be one of the foremost companies of its kind in North America and this transaction adds significant capability to the RPS offering in North America. Both RPS Energy and HMA Land have a [Read more]
Keystone XL Foes to Build Barn in Pipeline’s Path
(AP) - Opponents of the Keystone XL pipeline in Nebraska are making good on their promise to build a barn in the project's path. Volunteers will gather on Saturday at a groundbreaking ceremony for the solar- and wind-powered barn. The barn will sit on land directly on the pipeline's route, about 15 miles northwest of York. Organizers say the barn will serve as a gathering place to learn about sustainable energy alternatives that would benefit agriculture. If President Barack Obama approves [Read more]
Energy firm halts work in face of fracking protest
LONDON (AP) - Energy company Cuadrilla Resources Ltd. said Friday it has temporarily suspended drilling at an exploration site in southern England amid protests from residents and environmentalists opposed to shale gas extraction.The company said it had stopped work on police advice, but would resume "as soon as it is safe to do so."Demonstrators are planning to expand a protest camp Friday near the village of Balcombe."I'm quite worried about safety on the site," Cuadrilla chief executive [Read more]
Warren Buffet invests $500 million in Suncor
Warren Buffett has bought into the Alberta oil sands with a stake in Suncor Energy Inc., according to a Securities Exchange Commission filing released today. Buffett's fund, Berkshire Hathaway bought 17.8 million shares stake in Suncor, Canada's biggest oil and gas producer. That stake was valued at $524 million at the end of the second quarter. Read more... [Read more]
Lone Pine misses US$10.1M interest payment
CALGARY - Lone Pine Resources Inc. (TSX:LPR) failed to make a US$10.1-million, semi-annual interest payment on its senior secured notes Thursday, setting the clock ticking on a possible default the could force the natural gas and light oil developer to seek protection from creditors.The company, incorporated in Delaware but headquartered in Calgary, said failure by Lone Pine Resources Canada Ltd. to make the payment will result in default on the 10.375 per cent senior notes maturing in [Read more]
Canadian Pacific Railway to refuse order to pay for Lac Megantic
MONTREAL - Canadian Pacific says it's not responsible for paying to clean up Lac-Megantic, Que.The railway is rejecting a legal demand by the provincial government that it help fund the cleanup of the devastated town.The Canadian Press has learned that the railway will announce today that it will appeal the legal order.The news comes one day after the provincial government added CPR to a list of defendants that it says are responsible for paying for the cleanup.That legal notice [Read more]
Ontario to address Enbridge pipeline reversal concerns
TORONTO - Ontario Premier Kathleen Wynne is promising to address environmental concerns amid protests over a west-east pipeline plan that would transport Alberta oil to foreign markets. Protests that have cropped up in the province include a blockade of an Enbridge pumping station near Hamilton in June. Eighteen people were arrested and charged in that incident when they refused to leave the station. They oppose Enbridge's plan to reverse the flow of oil in a stretch of [Read more]