LAC-MEGANTIC, Que. - More than 1,000 people marched in solemn silence early this morning along the edge of Lac-Megantic's railroad as they remembered last year's deadly train disaster. They began the walk after observing a moment of silence at 1:15 a.m. — the exact moment on this day last year when a runaway train derailed in the centre of the Quebec town and exploded in a series of cataclysmic fireballs killing 47 people. Though a year has passed, the emotional scars in the community [Read more]
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Scars remain as Lac-Megantic holds services and vigil a year after disaster hit
LAC-MEGANTIC, Que. - The scars from last year's devastating train derailment still run deep in Lac-Megantic. But this weekend townsfolk will square their shoulders once again to pay homage to 47 of their friends and relatives who perished when a runaway train turned their downtown core into an inferno. Church services, concerts, social events and vigils will mark two days of commemorations, which will be highlighted Sunday by a Roman Catholic mass at the church whose statue of Jesus became [Read more]
Crude oil slips for seventh straight session as supplies set to increase
The price of crude oil slipped below $104 a barrel Friday, extending its drop to seven straight days, as expectations of increased supply offset strong U.S. employment growth.Benchmark West Texas Intermediate crude moved 29 cents lower to US$103.77 a barrel in electronic trading on the New York Mercantile Exchange.U.S. markets were closed Friday for the Independence Day holiday and trading volumes in other markets were thinner than usual.Crude fell despite signs the U.S. economy is steadily [Read more]
Trudeau says Liberal message is getting through in Alberta
CALGARY - Liberal leader Justin Trudeau says his party's message is getting through in the traditional Conservative stronghold of Alberta.He says Albertans are becoming more enthusiastic about the party even though the Liberals failed to snag an Alberta seat in recent federal byelections,Trudeau says the Liberals had a strong showing in the Fort McMurray-Athabasca riding in the heart of oilsands country.He says the Harper Conservatives have fallen down on the proposed Keystone XL pipeline.And he [Read more]
Trident Resources Corp. Announces Reorganization, Disposition and Financing
CALGARY, ALBERTA--(Marketwired - July 4, 2014) - Trident Resources Corp. ("Trident") announces that it has successfully reorganized its Canadian operations and disposed of 10% of those operations for gross proceeds of $107 million. Trident also announces the completion of a $95 million secured debt financing that, coupled with the disposition proceeds was used to repay its existing secured lending facilities in full and for working capital purposes. Reorganization Under the reorganization of [Read more]
SilverWillow Energy Corporation announces staff reductions and updates strategic alternatives process
CALGARY, July 3, 2014 /CNW/ - SilverWillow Energy Corporation ("SilverWillow" or the "Corporation") today announces that its Board of Directors has approved a reduction in staffing levels to align human resources with current levels of activity. SilverWillow will also take further steps to reduce general and administrative costs; however, the current executive officers of the Corporation will remain in their existing positions. It is anticipated that these measures will allow the Corporation to [Read more]
Polish shipyard wins bid to build three B.C. ferries for $165 million
VICTORIA - BC Ferries says a Polish shipyard has won the contract to build three new intermediate-class ferries capable of operating with liquefied natural gas or diesel. It says Remontowa Shipbuilding of Poland will receive $165 million to build the ships, with a contract that includes completion, performance and delivery guarantees. BC Ferries says the total budget for the project is $252 million, which includes financing and project management costs, and covers $51 million for Canadian [Read more]
Peyto Exploration & Development Corp. Announces Issuance of Senior Notes
CALGARY, ALBERTA--(Marketwired - July 3, 2014) - Peyto Exploration & Development Corp. ("Peyto") (TSX:PEY) is pleased to announce that it has closed the issuance of an aggregate of CDN$50,000,000 of senior unsecured notes with New York Life Insurance and Annuity Corporation and New York Life Insurance Company. The notes have a coupon rate of 3.79% and mature in July 2022. The notes were issued by way of a private placement pursuant to a note purchase agreement and will rank equally with [Read more]
Oil futures slip as risks of supply disruptions in Iraq continue to fade
The price of oil slipped again Thursday as the risk of supply disruptions in Iraq faded and key export terminals in Libya were expected to reopen.Benchmark West Texas Intermediate crude for August delivery fell 42 cents to US$104.06 a barrel on the New York Mercantile Exchange, its sixth consecutive day of decline. On Wednesday, the contract fell 86 cents to $104.48.Brent crude, a benchmark for international oils, fell 24 cents to US$111 a barrel in London.Oil prices in recent weeks have largely [Read more]
Arsenal Energy Inc. Releases Operational Update
CALGARY, ALBERTA--(Marketwired - July 3, 2014) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI)(PINKSHEETS:AEYIF) is pleased to release an operations update. Based on field estimates Arsenal averaged approximately 4,700 boe/d of production for the month of June. At Stanley, North Dakota, Arsenal as operator, has completed and tested two horizontal Bakken wells. The Allison Ann well flowed at approximately 1,385 bbls/d of oil during a 24 hour test period and the Craig Allen [Read more]