PLACENTIA, N.L. - Newfoundland and Labrador Premier Kathy Dunderdale has announced plans with Husky Energy to build a new offshore oil platform for the West White Rose Extension.Dunderdale says a new wellhead platform supported by a concrete gravity structure will be built in Argentia.The structure is to be constructed at a new dedicated graving or dry dock site with gates that could allow for future industrial opportunities.The platform will be used to draw oil from the West White Rose [Read more]
News
Data show China passing US as biggest oil importer as economic growth, car sales drive demand
BEIJING - China has achieved another world-beating status its leaders don't want: Biggest oil importer. China passed the United States in September as the world's biggest net oil importer, driven by faster economic growth and strong auto sales, according to U.S. government data released this week. Chinese oil consumption outstripped production by 6.3 million barrels per day, which indicates the country had to import that much to fill the gap, the Energy Information Administration said this [Read more]
Canadian Natural Resources Limited Provides an Update on Its Horizon Oil Sands Project and Summary of Third Quarter Operations
CALGARY, ALBERTA--(Marketwired - Oct. 10, 2013) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") is pleased to provide an update on its Horizon Oil Sands ("Horizon") project. Several key milestones were completed at Horizon in Q3/13 as the Company continues to deliver on its strategy to transition to a longer life, low decline asset base which continues to deliver significant and growing free cash flow. HORIZON EXPANSION [Read more]
Tamarack Valley Energy Ltd. Announces Successful Completion of the Acquisition of Sure Energy Inc.
CALGARY, ALBERTA--(Marketwired - Oct. 9, 2013) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce the successful completion of the previously announced acquisition by Tamarack of all of the outstanding shares of Sure Energy Inc. ("Sure Energy") pursuant to the plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, the former holders of the common shares of Sure Energy received, in the aggregate, approximately 16,461,966 [Read more]
Lightstream Announces Third Quarter 2013 Production of 45,100 boepd, a 17% Increase Over 2012
CALGARY, ALBERTA--(Marketwired - Oct. 9, 2013) - Lightstream Resources Ltd. ("Lightstream" or the "Company") (TSX:LTS) is pleased to provide an update on our third quarter operations. Third quarter production was approximately 45,100 barrels of oil equivalent per day ("boepd") (78% light oil and liquids weighted), based on field estimates, a 17% increase over third quarter 2012. The Cardium business unit produced approximately 20,600 boepd and the Bakken business unit produced [Read more]
Renegade Petroleum Ltd. Announces Executive and Board Changes
CALGARY, ALBERTA--(Marketwired - Oct. 9, 2013) - Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) announces the departure of Mr. Michael Erickson, President, Chief Executive Officer and a director of the Company, effective immediately. The Renegade board of directors (the "Board") and Renegade's management team thank Mr. Erickson for his contributions to the Company and wish him success in the future. Mr. Andrew Greenslade P.Eng., the Vice President, Operations of the [Read more]
Washington state pulls permits for two oil train terminals
SEATTLE (AP) — Officials are rejecting permits for two major oil-train terminals in Southwest Washington after deciding the projects should face more environmental scrutiny. The state Shorelines Hearings Board issued a letter Wednesday saying it plans to invalidate the permits for Westway Terminal Co. and Imperium Terminal Services, which want to build oil shipping terminals at the Port of Grays Harbor that could store up to 1.5 million barrels of crude from North Dakota and Alberta. The city [Read more]
Twin Butte Energy to Acquire Private Oil Producer and Proceed With $70 Million Bought Deal Financing
CALGARY, Oct. 9, 2013 /CNW/ - Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") is pleased to announce that it has entered into an arrangement agreement ("Arrangement Agreement") with Black Shire Energy Inc. ("Black Shire") providing for the acquisition (the "Black Shire Acquisition") by Twin Butte of all of the issued and outstanding class "A" common shares ("Black Shire Shares") of Black Shire for total consideration of approximately $358.0 million, including the assumption of [Read more]
Alberta woman loses round in anti fracking lawsuit, can’t sue regulator
ROSEBUD, Alta. - An Alberta woman has lost a round in her legal battle against the contentious process of hydraulic fracturing. Jessica Ernst launched a $33-million lawsuit against the Alberta government, the province's energy regulator and energy company Encana. She claims gas wells fracked around her property in southern Alberta unleashed hazardous amounts of methane and ethane gas and other chemicals into her water well. An Alberta Court of Queen's Bench judge has ruled Ernst can't [Read more]
LNG BOOM! Site set for Alaska LNG mega project
JUNEAU, Alaska (AP) -- On Monday, Exxon Mobil, BP, ConocoPhillips and TransCanada Corp. announced the Kenai Peninsula town of Nikiski is the leading contender for the terminal site where gas would be liquefied and shipped to Asia. The decision, applauded by state leaders as a sign of continued progress, signaled that a decades-old dream could become a reality even though major hurdles remain. Larry Persily, federal coordinator for Alaska natural gas pipeline projects, said the state is closer [Read more]