Korean-owned Harvest Operations Corp. confirmed Wednesday that it will delay the startup of its BlackGold oilsands project while the company continues to pare its workforce in the face of lower oil prices."We unfortunately (have) had to reduce our total workforce number by 105 positions," spokesman Greg Foofat said in a telephone interview"It wasn't done all at once," he said, adding that the reductions have been underway since the beginning of the year."It's just due to the lower expected plant [Read more]
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Suncor provides update on cost management program and operations
CALGARY, ALBERTA--(Marketwired - April 1, 2015) - Suncor Energy today provided an update on its progress on cost management measures in response to the low crude price environment, as well as an update on operations. Since the cost management program was announced in January, the company has made significant progress on its cost reduction initiatives. Suncor now expects that the $600 million to $800 million in operating budget reductions will be substantially realized in 2015, ahead of [Read more]
Perpetual Energy Inc. Announces Closing of Swap of West Edson Property for 6.75 Million Tourmaline Shares With Market Value of $258.7 Million and Updates Borrowing Base on Credit Facility
CALGARY, April 1, 2015 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce the closing of the previously announced swap with Tourmaline Oil Corp. ("Tourmaline") to exchange its joint interest share in its West Edson asset in West Central Alberta for 6.75 million Tourmaline common shares ("TOU Shares") having a current market value of approximately $258.7 million based on today's closing price of the TOU Shares on the Toronto Stock [Read more]
TransCanada Closes Sale of Remaining Interest in GTN to TC PipeLines, LP
CALGARY, ALBERTA--(Marketwired - April 1, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today closed the sale of its remaining 30 per cent interest in Gas Transmission Northwest LLC (GTN) to its master limited partnership, TC PipeLines, LP (NYSE:TCP) (the Partnership). GTN is a 2,178 kilometre (1,353 mile) pipeline that transports natural gas under long-term contracts from the Western Canada Sedimentary Basin and the Rocky Mountains to Washington, Oregon and California. [Read more]
Former employee of energy company arrested after shots fired in Alberta facility
CLAIRMONT, Alta. - RCMP say a former employee of an energy services company in northern Alberta is facing firearms offences after several shots were fired inside the facility.Investigators say the man surrendered after a three-hour standoff Tuesday night at the Halliburton building in Clairmont, north of Grande Prairie.Two employees had locked themselves in a room in the building and hid inside with the lights off.They had no contact with the gunman and it appears he didn't know they were [Read more]
Veresen Announces Closing of $200 Million Preferred Share Offering
CALGARY, ALBERTA--(Marketwired - April 1, 2015) - Veresen Inc. ("Veresen") (TSX:VSN) is pleased to announce that it has closed its previously announced bought deal offering of 8,000,000 Cumulative Redeemable Preferred Shares, Series E (the "Series E Preferred Shares") at a price of $25.00 per share representing aggregate gross proceeds of $200,000,000 (the "Offering"). The Offering was made through a syndicate of underwriters co-led by Scotiabank, TD Securities Inc. and RBC Capital [Read more]
DeeThree Exploration Ltd. Announces Significant EOR Supported Alberta Bakken Well Test
CALGARY, ALBERTA--(Marketwired - April 1, 2015) - DEETHREE EXPLORATION LTD. ("DeeThree" or the "Company") (TSX:DTX)(OTCQX:DTHRF) is pleased to announce results from its latest Alberta Bakken horizontal well 11-20-3-16 W4M. This is the first well designed specifically to optimize the Company's ongoing gas re-injection Enhanced Oil Recovery ("EOR") scheme. The 2,000 meter horizontal lateral well was drilled in the base of the Alberta Bakken zone within the core EOR scheme area and near where the [Read more]
Veresen Announces Closing of Veresen Midstream Transaction
CALGARY, ALBERTA--(Marketwired - April 1, 2015) - Veresen Inc. (TSX:VSN) ("Veresen" or the "Company") is pleased to announce that Veresen Midstream Limited Partnership ("Veresen Midstream") has closed the acquisition of certain natural gas gathering and compression assets supporting Montney development in the Dawson area of northeastern British Columbia from Encana Corporation ("Encana") and the Cutbank Ridge Partnership ("CRP"). As part of this transaction, Veresen Midstream has agreed to [Read more]
Encana Completes Sale of Montney Midstream Assets
CALGARY, AB--(Marketwired - April 01, 2015) - (TSX: ECA) (NYSE: ECA) Encana Corporation ("Encana") and the Cutbank Ridge Partnership ("CRP"), a partnership between Encana and a subsidiary of Mitsubishi Corporation, have completed the previously announced sale of certain natural gas gathering and compression assets supporting development in the Montney area of northeastern British Columbia to Veresen Midstream Limited Partnership ("Veresen Midstream"), a 50/50 limited partnership of Veresen [Read more]
Anderson Energy Announces 2014 Fourth Quarter and Year End Results
CALGARY, ALBERTA--(Marketwired - March 31, 2015) - Anderson Energy Inc. ("Anderson" or the "Company") (TSX:AXL) announces its operating and financial results for the fourth quarter and year ended December 31, 2014. The Company will be filing its audited consolidated financial statements and management's discussion and analysis ("MD&A") for the years ended December 31, 2014 and 2013 on SEDAR today. Copies can be found under the Company's profile on www.sedar.com and on the Company's website [Read more]