MONTREAL - Canadian Pacific says it's not responsible for paying to clean up Lac-Megantic, Que.The railway is rejecting a legal demand by the provincial government that it help fund the cleanup of the devastated town.The Canadian Press has learned that the railway will announce today that it will appeal the legal order.The news comes one day after the provincial government added CPR to a list of defendants that it says are responsible for paying for the cleanup.That legal notice [Read more]
News
Ontario to address Enbridge pipeline reversal concerns
TORONTO - Ontario Premier Kathleen Wynne is promising to address environmental concerns amid protests over a west-east pipeline plan that would transport Alberta oil to foreign markets. Protests that have cropped up in the province include a blockade of an Enbridge pumping station near Hamilton in June. Eighteen people were arrested and charged in that incident when they refused to leave the station. They oppose Enbridge's plan to reverse the flow of oil in a stretch of [Read more]
Apache Agrees To Sell Alberta Oil And Gas Assets To Ember Resources For US$214 Million
HOUSTON, Aug. 15, 2013 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) announced today it has agreed to sell oil and gas producing properties in the Nevis, North Grant Lands and South Grant Lands areas of western Alberta, Canada, to Ember Resources Inc., a private Canadian company, for US$214 million (CAN$220 million). "Going forward, Apache is focused on growing our liquids production from a deep inventory of crude oil- and liquids-rich opportunities that generate attractive rates of [Read more]
Oil rises above $107 per barrel on turmoil in Egypt, U.S. crude supplies fall
The price of oil climbed above $107 a barrel Thursday as the escalating violence in Egypt was seen as threatening stability in the Middle East, and U.S. crude supplies fell in a possible sign of stronger demand. By early afternoon in Europe, benchmark crude for September delivery was up 48 cents to $107.33 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 2 cents to close at $106.85 on Wednesday. The Egyptian Health Ministry said that 525 people had died [Read more]
Connacher Announces Second Quarter 2013 Results
CALGARY, Aug. 14, 2013 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX; "Connacher" or the "Company") is pleased to announce the release of its financial and operating results for the second quarter ending June 30, 2013 ("Q2 2013"), a summary of which is set out below. Q2 2013 Highlights: EBITDA of $24 million, a 125% increase from Q1 2013 Bitumen production averaged 11,572 bbl/d Bitumen netback of $31.79/bbl, a 93% increase from Q1 2013 Funds flow from continuing operations of $6 [Read more]
Hyperion Exploration Corp. Announces Second Quarter June 30, 2013 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) announces operating results for the quarter ended June 30, 2013. Selected financial and operational information is outlined below and should be read in conjunction with Hyperion's unaudited financial statements and related management discussion and analysis which will be available for review under Hyperion's SEDAR profile at www.sedar.com. Q2 2013 Financial [Read more]
Tamarack Valley Energy Ltd. Announces Record Production and Cash Flow Releases 2013 Second Quarter Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") has filed its unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2013 ("Financial Statements") and management's discussion and analysis ("MD&A") on SEDAR. Selected financial and operational information is outlined below and should be read in conjunction with the Financial Statements, which were prepared in accordance [Read more]
Questerre to Scale Up Development of Montney Resource
CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today on its financial and operating results for the second quarter of 2013. Michael Binnion, President and Chief Executive Officer, commented, "Our investment to build Kakwa-Resthaven into a new core area was endorsed by the results of the recent Montney resource assessment. We believe our acreage lies in the sweet spot of the play or the acreage [Read more]
Shoreline Energy Corp. Announces Second Quarter Results
CALGARY, ALBERTA--(Marketwired - Aug. 14, 2013) - Shoreline Energy Corp. ("Shoreline" or the "Company") (TSX:SEQ) is pleased to announce financial and operating results from the second quarter of 2013. Second Quarter Financial and Operating Highlights Operating Sales volumes averaged 2,617 barrels of oil equivalent per day (BOED) and increased by 57% from the first quarter of 2013. Oil and NGL production as a percentage of total [Read more]
Marcellus gas production rising fast in Pa., W.Va.
PITTSBURGH (AP) -- Marcellus Shale natural gas production is rising even faster this year than energy experts had predicted, and that's having a national impact on energy. Bentek, a Colorado company that analyzes energy trends, said 2013 production in Pennsylvania and West Virginia is up about 50 percent compared with last year. Figures for the pipelines that take gas out of the Marcellus show that in the first six months of the year, Pennsylvania produced about 1.5 trillion cubic feet of [Read more]