VANCOUVER - Prime Minister Stephen Harper says U.S. President Barack Obama has "punted" a decision on the controversial Keystone XL oil pipeline, but he's still confident the long-delayed $5.4 billion project will eventually be built. Harper made his remarks during a question-and-answer session with Vancouver Board of Trade CEO Iain Black. When Black launched into one question by saying Obama had rejected the pipeline, Harper interjected. "No, he's punted," the prime minister said of [Read more]
News
Raging River Exploration Inc. Appoints New Director
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to announce that Gary Bugeaud has been appointed to its Board of Directors. Mr. Bugeaud recently retired as Managing Partner of the Calgary law firm Burnet, Duckworth & Palmer LLP. Mr. Bugeaud has significant securities, mergers and acquisitions and corporate governance experience. Mr. Bugeaud is also a trustee of the Alberta Cancer Foundation. [Read more]
Arsenal Energy Inc. Releases 2014 Budget
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI) (PINKSHEETS:AEYIF) is pleased to release this operations update and its 2014 capital budget. During the fourth quarter, pricing differentials for Arsenal's mix of production widened substantially. In response, Arsenal postponed drilling three wells in south-east Alberta and various other minor capital expenditures. Capex for 2013 is now estimated at $38 million compared to [Read more]
Hemisphere Energy Commences Winter Drilling Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 6, 2014) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce that it has commenced operations for its winter drilling program with three development wells planned in the Atlee Buffalo and Jenner areas of southeast Alberta. Hemisphere's first well of the winter drilling program is underway in the newly acquired Atlee Buffalo property. The horizontal development well is targeting the oil-bearing sandstones of the [Read more]
Tourmaline Oil Corp. Achieves Record 2013 Exit Production Volumes
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to report that estimated daily production volumes reached a record of 111,200 boepd (564 mmcfpd (94,000 boepd) natural gas and 17,200 bpd of oil, condensate and ngls) during the second half of December following the start-up of the Wild River and Banshee gas plant expansions. The Company has an estimated 18,500 boepd of additional production, from wells already drilled [Read more]
Joint B.C.-Alberta report looks at whether oil-by-rail a viable option
VANCOUVER - A task force report has been handed in to the British Columbia and Alberta governments that examines the idea of transporting oilsands' crude via rail if proposed pipelines don't get the green light, government documents show. It's an idea the environmental group ForestEthics calls "underhanded." It's a "backdoor way for industry to bring tankers to the coast without the same sort of public oversight or public process that we’ve had around the Enbridge pipeline or would have [Read more]
LGX Oil + Gas Inc. Files Application for Judicial Review Respecting Greater Sage-Grouse Emergency Protection Order
CALGARY, Jan. 3, 2014 /CNW/ - As previously announced, LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV:OIL) and other producers have received notice from the Federal Minister of Environment of an Emergency Order for the Protection of the Greater Sage-Grouse (the "Order") pursuant to the Species at Risk Act (Canada) ("SARA"). The stated purpose of the Order is to address the imminent threats to the survival and recovery of the Greater Sage-Grouse, including protecting the habitat identified in [Read more]
Sonde Resources Corp. Announces Appointment of President and CEO
CALGARY, ALBERTA--(Marketwired - Jan. 3, 2014) - Sonde Resources Corp. ("Sonde" or the "Company") (TSX:SOQ)(NYSE MKT:SOQ) announced today the appointment of Toufic Nassif, currently President Sonde North Africa, to the position of President and Chief Executive Officer and that Bill Dirks, President and Chief Operating Officer, has formally notified the Board of Directors of his resignation, effective January 3, 2014. Mr. Dirks has agreed to stay on in a consultancy role as an advisor for an [Read more]
Crude extends plunge, ends below US$94
The price of oil extended a week-long plunge Friday, falling 1.6 per cent to below US$94 a barrel as a rebounding U.S. economy drove the dollar higher and signs continue to emerge that there is an ample supply of crude worldwide. Benchmark West Texas Intermediate crude for February delivery fell $1.48 to close at US$93.96 a barrel in New York. Brent crude, used to price international crude processed by many U.S. refineries, fell 89 cents to close at US$106.89 a barrel in London. U.S. crude [Read more]
Alberta city wants sage grouse order quashed
MEDICINE HAT, Alta. - A southern Alberta city and an oil and gas company are asking the courts to quash a federal emergency order that protects the sage grouse.The City of Medicine Hat and LGX Oil & Gas Inc. filed an application Friday in Federal Court seeking a judicial review of the order.The application asks the court to quash, alter or suspend the order for six months so the federal environment minister can consult with them.The affected lands include most of the city-owned oil [Read more]