Momentum for Canadian-led LNG export sector continues to build CALGARY, April 29, 2014 /CNW/ - Progress Energy Canada Ltd. (Progress Energy), Pacific NorthWest LNG Ltd. (PNW LNG) and Petroliam Nasional Berhad (PETRONAS) have signed transaction agreements whereby China Petrochemical Corporation (SINOPEC), through its affiliates, will acquire a 15 percent interest in Progress Energy's LNG-destined natural gas reserves in northeast British Columbia and in the proposed PNW LNG export facility on [Read more]
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Encana Reaches Agreement to Sell Properties in East Texas
CALGARY, ALBERTA--(Marketwired - April 29, 2014) - Encana Corporation (Encana) (TSX:ECA)(NYSE:ECA), announced today that its wholly-owned subsidiary, Encana Oil & Gas (USA) Inc., has reached an agreement with an undisclosed purchaser, to sell certain properties located primarily in Leon and Robertson counties of East Texas for approximately $530 million. "Consistent with our strategy, this transaction builds on our efforts to unlock value from properties within our massive asset base," [Read more]
Manitok Energy Inc. Announces 2013 Year-End Financial Results and Adoption of Advance Notice By-Law
CALGARY, ALBERTA--(Marketwired - April 29, 2014) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) announces its financial and operating results for the year ended December 31, 2013. The full text of Manitok's year-end results are contained in its audited financial statements as at and for the year ended December 31, 2013, the related management's discussion and analysis and Manitok's Annual Information Form for the year ended December 31, 2013, copies of which are [Read more]
Oil futures edge higher as investors weigh Russia sanctions
The price of oil crept higher on Tuesday as investors weighed sanctions by the U.S. and allies against Russia over Ukraine.Benchmark U.S. crude for June delivery rose 18 cents to US$101.02 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 24 cents to settle at $100.84 on Monday.Brent crude, an international benchmark used to price oil used by many U.S. refineries, rose 37 cents to $108.37 in London. It was rebounding after tumbling $1.46, or 1.3 per cent, the [Read more]
Oilsands giant Suncor sees profits soar on improved market access for crude
CALGARY - Oilsands giant Suncor Energy Inc. (TSX:SU) has posted record operating earnings as it was able to get more of its crude to market by pipeline and rail.The Calgary-based company says operating earnings were more than $1.79 billion, or $1.22 per share — widely beating the average analyst expectation of 93 cents, according to estimates compiled by Thomson ReutersA year earlier, Suncor had operating earnings of $1.37 billion, or 90 cents per share.Operating revenues, net of royalties, were [Read more]
Suncor Energy reports first quarter results
EDMONTON, ALBERTA--(Marketwired - April 28, 2014) - "We delivered the best financial quarter on record," said Steve Williams, president and chief executive officer. "Investments made at Oil Sands increased our operational flexibility, allowing us to produce higher margin barrels. Our integrated model combined with improved market access allowed us to maximize the value of every barrel we produced." Record operating earnings of $1.793 billion ($1.22 per common share), including record [Read more]
Suncor Energy announces appointment of new Board Chair following retirement of John Ferguson
EDMONTON, ALBERTA--(Marketwired - April 28, 2014) - Suncor today announced that, following the retirement of John Ferguson at the close of Suncor's Annual General Meeting of shareholders on April 29, 2014, James W. Simpson, a current member of the Board of Directors, will be Suncor's new Board Chair. Mr. Ferguson has been a member of Suncor's Board of Directors since November, 1995 and has served as Chair since 2007. Working with the Board of Directors and the company's senior leadership [Read more]
Anterra Energy Announces Year End Financial Results
CALGARY, ALBERTA--(Marketwired - April 28, 2014) - Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A)(OTCQX:ATERF) announces that the Company released its financial and operating results for the year ended December 31, 2013. The full text of the Company's audited financial statements and related Management's Discussion and Analysis ("MD&A") can be found at: www.sedar.com and on the Company's website at www.anterraenergy.com. About Anterra Energy Anterra is an [Read more]
COLUMN: Alberta moves past Keystone XL
Despite the setbacks, Alberta oil sands will eventually make its way to market By Shaun Polczer CALGARY, AB/ Troy Media/ - Call it the Good Friday massacre. U.S. President Barack Obama's decision to delay the oft-delayed Keystone XL pipeline provided yet another nail in the coffin of the troubled project, but certainly not the final one. That isn't to say the million barrel per day conduit from Alberta's oil sands to the U.S. Gulf Coast won't be built. However, it's increasingly [Read more]
Oil rebounds as Ukraine crisis deepens and more sanctions loom
The price of oil rebounded above US$101 per barrel Monday as mounting tensions in Ukraine raised the likelihood of further western economic sanctions against major energy producer Russia. Benchmark U.S. crude for June delivery gained 42 cents to $101.02 on the New York Mercantile Exchange. Oil had finished last week with a decline of $3.70 a barrel, or 3.5 per cent, to $100.60. Brent crude, an international benchmark for oil, rose 23 cents to $109.81 on the ICE Futures exchange in [Read more]