CALGARY, June 18, 2014 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF) (NYSE: ERF) is pleased to announce that as a result of our operational performance and continued technical assessment, including a detailed analysis of well data within the region, the future outlook of the Fort Berthold Bakken and Three Forks core area has significantly improved. Highlights of our assessment include: Increase in Contingent Resource: Our internal best estimate of economic contingent resources, as [Read more]
News
British Columbians support a refinery, new poll says
Greenest Refinery in the World Proposed for British Columbia North Coast VANCOUVER, June 17, 2014 /CNW/ - Today's federal government approval of the Northern Gateway Pipeline brings into focus the need to protect Canada's West Coast from a raw bitumen spill by building a refinery. In a poll released today by Pacific Future Energy Corporation (Pacific Future Energy) over 2/3 of British Columbians expressing an opinion believe that "refining oil in Canada means more value is added and [Read more]
Enbridge plots next steps after Northern Gateway gets federal nod
CALGARY - Shovels won't likely be hitting the ground on Enbridge Inc.'s Northern Gateway pipeline anytime soon, but observers say the company has time, given the trajectory of oilsands growth and Asian crude demand.The multibillion-dollar project that will stretch from the Alberta oilsands to the B.C. coast, passed a key hurdle on Tuesday, with the federal government's approval. But the company itself has already signalled it would be in no rush to proceed if it got Ottawa's blessing, as it must [Read more]
Saskatchewan happy with Northern Gateway approval
REGINA - Energy Minister Bill Boyd says the federal government's conditional approval of the Northern Gateway project is good news for Saskatchewan, even though the province isn't pumping oil into the pipeline. Boyd says the pipeline will help address concerns Saskatchewan has about overall capacity and about getting oil to international markets. He says better international prices will lessen what is called the differential — the price gap between light and heavy oil. The minister says [Read more]
Alberta lauds federal Northern Gateway approval as good first step
EDMONTON - Alberta Premier Dave Hancock says the decision to approve the Northern Gateway pipeline is a step forward for the country. Hancock says the pipeline to ship Alberta crude to the B.C. coast is critical to diversifying Canada's economy and paying for goods and services, like health care. The federal government has given approval to the line, provided 209 conditions can be met, including engagement with First Nations and other communities along the pipeline route. Former federal [Read more]
Oil slips as market eyes developments in Iraq, latest reading on U.S. supplies
The price of oil fell Tuesday as fears over the prospect of disruption to Iraq's crude supplies subsided a little and traders awaited the latest report on U.S. supplies. Benchmark West Texas Intermediate crude for July delivery dropped 54 cents to US$106.36 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark used to price international oils, gained 51 cents to US$113.45 a barrel on the ICE Futures exchange in London. Up to 275 U.S. soldiers moving into position to [Read more]
Feds approve Northern Gateway
The Harper government has approved Enbridge's Northern Gateway pipeline with several conditions. In December 2013 the NEB Joint Review Panel recommended that the federal government approve the project, subject to 209 required conditions. Read the release below courtesy Government of Canada: Government of Canada Accepts Recommendation to Impose 209 Conditions on Northern Gateway Proposal Proponent must demonstrate how conditions will be met, undertake further consultations [Read more]
B.C, First Nation reach deal for land sale in heart of expected LNG growth
KITIMAT, B.C. - The B.C. government is heralding the sale of land to a First Nation in an area Premier Christy Clark hopes will one day be at the heart of a booming liquefied natural gas industry.Clark was in northern B.C. to mark the sale of land in downtown Kitimat to the Haisla Nation.The land has sat idle since a hospital on the site was demolished in 2005, though the prospect of a growing LNG industry along with other industrial projects has turned it into prime real estate.The Haisla [Read more]
A tale of two pipelines: a look at Northern Gateway and Keystone XL
OTTAWA - With the Conservative government poised to announce its decision on Northern Gateway here's a look at the controversial pipeline project and how it shapes up against its cross-border cousin, Keystone XL: THE BASICS Northern Gateway is a proposed 1,177-kilometre twin pipeline that would carry diluted bitumen from Alberta to the town of Kitimat on the British Columbia coast, where it would be shipped overseas by oil tankers. One pipeline would carry an average of 525,000 barrels [Read more]
Timeline of major events in Northern Gateway application process
VANCOUVER - Milestones in the Northern Gateway project: March 6, 2002: Calgary-based Enbridge (TSX:ENB) announces preliminary plans for a pipeline linking the Alberta oilsands to the West Coast. April 14, 2005: The company announces a deal with PetroChina Co. to transport oil from Alberta to the B.C. coast for export. The pipeline is expected to be in operation in 2010. Nov. 1, 2006: With the National Energy Board process already underway, Enbridge announces it will delay Northern [Read more]