BOE Report

Billionaire investor Carl Icahn takes on 6 per cent stake in Talisman

CALGARY - Billionaire investor Carl Icahn reveals he has bought more than 61.5 million shares of Talisman Energy Inc. for a 5.97 per cent stake in the Calgary-based oil and gas producer. In a U.S. regulatory filing, his firm says it believes Talisman's assets are "undervalued" and that it intends to have conversations with management about "asset sales or potential corporate restructuring," as well as "the possibility of shareholder board representation." [Read more]

Environmental group says some Albertans want tougher cold heavy oil regulations

PEACE RIVER, Alta. - An environmental group says some Albertans want tougher rules for oilsands producers that operate close to where people live. Ecojustice says some people in northwest Alberta have moved away from their homes because of health concerns about an extraction process called cold heavy oil production. The group made the comments Monday as the Alberta Energy Regulator held a public meeting in Peace River to set the scope for an inquiry that will look into their [Read more]

Oil falls below US$103 a barrel as Gulf storm passes, US debt deadline nears

The price of oil fell below US$103 a barrel Monday as a partial U.S. government shutdown entered a second week and crude production in the Gulf of Mexico got back on track after a storm system passed through. By early afternoon in Europe, benchmark crude for November delivery was down $1.03 to US$102.81 a barrel in electronic trading on the New York Mercantile Exchange. The contact rose 53 cents to close at $103.84 on the Nymex on Friday. The U.S. was forced to curtail government [Read more]

Enbridge set to make its case for Line 9

TORONTO - Under fields, past homes and across waterways, a pipeline has run through one of Canada's most populous corridors for nearly four decades, quietly pumping oil between southern Ontario and Montreal.While it hasn't generated much national attention in the past, Line 9 is now being thrust into the spotlight as the company that operates it seeks approval to reverse its flow and increase its capacity.On one side of the debate that will take place before the National Energy Board in Montreal [Read more]

It’s Alberta’s prerogative to say who speaks at oilsands reviews: Redford

EDMONTON - Alberta's premier says it's still her government's prerogative to make sure the review process for oilsands projects doesn't get bogged down by interveners who aren't directly impacted by what's being proposed. Alison Redford was responding to a ruling earlier this week by Court of Queen's Bench Justice Richard Marceau. Marceau found that the Environment Department bureaucrats contravened their own laws by enacting a shadow policy to stop the Oil Sands Environmental Coalition [Read more]

Anti Keystone billionaire takes aim at Harper

OTTAWA - An anti-Keystone XL pipeline crusader has written to Prime Minister Stephen Harper, suggesting Canada's aggressive lobbying for the project played a part in the ongoing government shutdown south of the border.Tom Steyer, a San Francisco billionaire and a major Democratic party fundraiser, chastises Harper for saying he would not "take 'no' for an answer" from U.S. President Barack Obama on TransCanada's Keystone XL.In a question-and-answer session with the Canadian American Business [Read more]

Crude rises toward $104 a barrel as offshore oil rigs brace for Tropical Storm Karen

The price of crude rose to near $104 a barrel Friday as offshore oil rigs in the Gulf of Mexico braced for Tropical Storm Karen.By early afternoon in Europe, benchmark oil for November delivery was up 54 cents to $103.85 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 79 cents to close at $103.31 on Thursday.Several oil companies operating in the Gulf of Mexico, including Exxon, said they were taking precautionary measures, including the evacuation of [Read more]

NuVista Energy Ltd. Announces Flow-Through Share Financings

CALGARY, Oct. 4, 2013 /CNW/ - NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Peters & Co. Limited and RBC Capital Markets Corp., and including CIBC World Markets Inc., FirstEnergy Capital Corp., Scotia Capital Inc., BMO Capital Markets and TD Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase for resale to the public, on a bought deal [Read more]

B.C. government announces study on impact of LNG emissions

KITIMAT, B.C. - The B.C. government says it will fund a $650,000-study to look at the environmental and health impacts of liquefied natural gas emissions in the northwestern city of Kitimat, where three LNG terminals have been proposed.A government news release says the study will assess sulphur dioxide and nitrogen dioxide emissions from an existing aluminium smelter, the proposed LNG terminals, a proposed oil refinery, a crude-oil export facility, and gas-turbine-powered electrical generation [Read more]

Williams project to turn oilsands off gas into plastic feedstock near completion

CALGARY - A project to turn oilsands off-gas into a feedstock for plastic producers is almost ready for startup.The president of Williams Energy Canada says mechanical work on the project — which involves expansions to its facilities in Fort McMurray and Redwater, Alta., — is virtually done.David Chappell says in the next week and a half or so, Williams should be able to remove ethane from the mixture of gases that are a byproduct of the oilsands upgrading process.Ordinarily that gas would be [Read more]