CALGARY, ALBERTA--(Marketwired - June 3, 2014) - Encana Corporation ("Encana") (TSX:ECA)(NYSE:ECA) and PrairieSky Royalty Ltd. ("PrairieSky") (TSX:PSK) announced today that, in connection with the initial public offering of 52,000,000 common shares of PrairieSky (the "Offering") at an offering price of $28.00 (the "Offering Price"), the over-allotment option granted to the underwriters to purchase up to an additional 7,800,000 common shares (the "Over-Allotment Option") at the Offering Price has [Read more]
News
Oil steady at $102 a barrel on China, U.S. data
The price of oil was steady near US$102 a barrel Tuesday after an improvement in Chinese manufacturing was offset by reduced consumer spending in the U.S.Benchmark U.S. oil for July delivery was down 7 cents to $102.40 a barrel at 5 a.m. ET in electronic trading on the New York Mercantile Exchange. The contract fell 24 cents to $102.47 on Monday.Brent crude, a benchmark for international oils, was down 31 cents to $108.52 a barrel in London.Energy demand from China was likely to stay solid as a [Read more]
Gear Energy Ltd. Announces Appointment of Board Director
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Gear Energy Ltd. ("Gear") (TSX:GXE) is pleased to announce that effective June 2, 2014, Mr. Harry English has been appointed to the Board of Directors of Gear. Mr. English is a Chartered Accountant with over 37 years' experience, most recently as a senior partner at Deloitte LLP. He is a former Professional Practice Director for Deloitte LLP's audit division in Alberta, Saskatchewan and Manitoba and spent the majority of his professional career [Read more]
Canadian Law Makes It Cheaper To Prevent Oil Sands Leaks Than Clean Them Up
As the Canadian government pushes a new law rendering pipeline companies liable for all damages from leaks and spills, the only friend to both sides in this polarized world of dirty oil sands is leak prevention technology. On May 14, amid heightened opposition to two planned pipelines, Canada's Natural Resources Ministry unveiled a new law making pipeline operators liable for all the costs and damages related to oil spills, regardless of whether the operators were at fault or demonstrated [Read more]
Tamarack Valley Energy Ltd. Announces Operational Update and a Record Production Rate
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce record corporate production, as a result of the successful 2014 drilling program. Based on field estimates, Tamarack has averaged 5,850 boe/d during the last 7 days of May 2014. Although Tamarack has been affected by production curtailments due to un-scheduled third party facility downtime in central Alberta, stronger than budgeted results from the [Read more]
Alberta oilsands worker injured while fixing bulldozer, dies in hospital
FORT MCMURRAY, Alta. - A man has died while working on a giant bulldozer in Alberta's oilsands.The provincial government says the 37-year-old was doing maintenance work on the machine at a Suncor (TSX:SU) mine site near Fort McMurray.The government says a reservoir or sump pan fell on the worker's head.The man was taken to hospital in Fort McMurray, where he died of his injuries.He worked for the North American Construction Group.The Edmonton-based company said in a statement that the man was an [Read more]
Keystone, times a few hundred: U.S. shakes up climate debate with new plan
WASHINGTON - The United States announced the most aggressive climate-change measures in its history Monday, a move that promptly triggered speculation about a potential ripple effect in other countries, including Canada.The regulations released by the Obama administration would chop carbon emissions from U.S. power plants by 30 per cent by 2030, the majority of those cuts coming by the end of this decade.That would take the U.S. a large step toward actually achieving the target it shares with [Read more]
Petrox Resources Announces the Acquisition of Producing Properties
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Petrox Resources Corp. (TSX VENTURE:PTC) (the "Corporation" or "Petrox") is pleased to announce that, further to its news release of May 21, 2014, the Corporation has now completed the acquisition of certain oil and gas properties located in the Fletwode area of Saskatchewan for $2,100.000. These properties include six oil producing wells with a combined producing rate of approximately 40 barrels per day and a total proven plus probable reserve of [Read more]
NEB Releases Expectations for Oil and Gas Industry on Improving Safety Culture
CALGARY, June 2, 2014 /CNW/ - The National Energy Board (NEB), along with the Canada Nova Scotia Offshore Petroleum Board and the Canada-Newfoundland and Labrador Offshore Petroleum Board, is taking additional steps to improve safety in the oil and gas industry with the release of a joint statement and framework on Safety Culture. The final paper, titled, "Advancing Safety in the Oil and Gas Industry: Statement on Safety Culture," outlines the NEB's expectations of regulated companies to build [Read more]
Plains Midstream charged in Alberta pipe leak
RED DEER, Alta. - Charges have been laid against the owner of a pipeline that leaked nearly half a million litres of oil into a central Alberta river. The Alberta Energy Regulator says Plains Midstream faces a charge under the federal Fisheries Act as well as a provincial charge of failing to report the leak as required by law. The June 7, 2012, spill from the Rangeland pipeline was discovered when landowners just north of Sundre began phoning in reports of a rotten egg smell, the telltale [Read more]