(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]
Apache Agrees To Sell Alberta Oil And Gas Assets To Ember Resources For US$214 Million
HOUSTON, Aug. 15, 2013 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) announced today it has agreed to sell oil and gas producing properties in the Nevis, North Grant Lands and South Grant Lands areas of western Alberta, Canada, to Ember Resources Inc., a private Canadian company, for US$214 million (CAN$220 million). "Going forward, Apache is focused on growing our liquids production from a deep inventory of crude oil- and liquids-rich opportunities that generate attractive rates of [Read more]
Oil rises above $107 per barrel on turmoil in Egypt, U.S. crude supplies fall
The price of oil climbed above $107 a barrel Thursday as the escalating violence in Egypt was seen as threatening stability in the Middle East, and U.S. crude supplies fell in a possible sign of stronger demand. By early afternoon in Europe, benchmark crude for September delivery was up 48 cents to $107.33 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 2 cents to close at $106.85 on Wednesday. The Egyptian Health Ministry said that 525 people had died [Read more]
Marcellus gas production rising fast in Pa., W.Va.
PITTSBURGH (AP) -- Marcellus Shale natural gas production is rising even faster this year than energy experts had predicted, and that's having a national impact on energy. Bentek, a Colorado company that analyzes energy trends, said 2013 production in Pennsylvania and West Virginia is up about 50 percent compared with last year. Figures for the pipelines that take gas out of the Marcellus show that in the first six months of the year, Pennsylvania produced about 1.5 trillion cubic feet of [Read more]
CP Railway now in Quebec gov’t crosshairs; money demanded for Lac Megantic cleanup
MONTREAL - The Canadian Pacific Railway is now on the Quebec government's list of targets as it seeks to recover the cleanup costs from the Lac-Megantic disaster.The big railway has been added to a legal notice issued by the provincial government, which wants companies to pay for the water and soil cleanup.CP (TSE:CP) has been added to the list because, the government said Wednesday, it was the main contractor responsible for the fateful oil shipment from North Dakota to New [Read more]