CALGARY, AB, Oct. 22 2015 /CNW/ - The National Energy Board (NEB) hearing panel for the Trans Mountain Expansion Project (the Project) has issued a procedural direction announcing the details for oral summary argument. This Procedural Direction follows up on the September 24 announcement that the NEB was implementing an excluded period for the review of the Trans Mountain Expansion Project beginning on September 17, 2015 and ending January 8, 2016, to acquire additional information related to [Read more]
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Yangarra Provides Operations Update
CALGARY, Oct. 22, 2015 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) provides an operations update. Yangarra's 3rd quarter capital program had significant cost reductions in both drilling and completion operations, as well as earning new lands. One of the Company's 1.5 mile horizontal ("HZ") wells drilled in the 2nd quarter, at a cost of $1.3 million, was fracked with 45 stages and 675 tonnes of sand and completed at a cost of $1.2 million. Initial [Read more]
Ex pipeline exec: Keystone XL can still be salvaged if Canada acts on climate
CALGARY - A retired executive with pipeline builder TransCanada Corp. believes the long-stalled Keystone XL project can still be salvaged — if incoming Liberal prime minister Justin Trudeau acts swiftly on climate change.Putting a price on carbon emissions is the last option Canada has available to persuade U.S. President Barack Obama to approve the controversial cross-border oilsands pipeline, said Dennis McConaghy, who left TransCanada (TSX:TRP) last year.He said it's been "enormously [Read more]
Steelhead Petroleum Ltd. Announces Initial Financing by ARC Financial Corp.
CALGARY, AB--(Marketwired - October 22, 2015) - Steelhead Petroleum Ltd. (“Steelhead” or the “Company”) is pleased to announce the closing of its initial financing by ARC Financial Corp. (“ARC”).Steelhead plans to pursue conventional assets with large original oil in place and low declines that can be optimized through the application of best in class full cycle field development. The assets will also be suitable for recompletions, infill drilling, water flooding and potential enhanced oil [Read more]
Precision Drilling writes down assets, says capital budget will plunge in 2016
CALGARY - Precision Drilling Corp. (TSX:PD) is writing down the value of its assets and planning for a much smaller capital spending budget next year, the company said Thursday as it reported a 38 per cent decline in third-quarter revenue.The Calgary based company reported an $87 million net loss, or 30 cents per share, for the three months ended Sept. 30, as revenue dropped to $364 million from $584.5 million in last year's third quarter when the oil and gas industry was booming.Precision [Read more]
Toro Oil & Gas Ltd. announces results of successful first phase drilling program
CALGARY, Oct. 22, 2015 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") is pleased to announce its first phase drilling results conducted within the third quarter of 2015. The Company successfully drilled and completed nine (9.0 net) Viking oil wells across its land base during the quarter. Of the wells drilled, eight were located in the Hamilton Lake area and one at Consort. 30 day initial production rates from the drilling program added 470 boe per day (80% liquids). [Read more]
Wall attends climate talks in Paris to voice Saskatchewan’s concerns
REGINA - Saskatchewan Premier Brad Wall says more can be done to help protect the environment, but he also wants to make sure new policies don't hurt the province.Wall says that's why it's important to raise Saskatchewan's concerns at a major climate talk in Paris."We want to make sure that whatever Canada is committing to doesn't kneecap our economy in the West," Wall said of the Paris talks."We think what we've seen so far from Mr. Trudeau, there are not a lot of details, but so far his [Read more]
Alberta NDP push balanced budget promise back by a year
Rachel Notley's Alberta NDP government is pushing back its balanced budget promise by a full year. During the spring provincial election campaign, the NDP promised a lots of spending but said that it would see the province balance its books by 2018-19. That was to be a full year after the Wildrose and PC opposition party promises. Today however, Finance Minister Joe Ceci announced that the provincial government has changed course. Ceci mentioned that global markets have forced the government [Read more]
Kinder Morgan Increases Quarterly Dividend to $0.51 Per Share, up 16%
HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) today announced that its board of directors approved an increase in its quarterly cash dividend to $0.51 ($2.04 annualized) payable on Nov. 13, 2015, to shareholders of record as of the close of business on Nov. 2, 2015. This represents a 16 percent increase over the third quarter 2014 dividend of $0.44 per share ($1.76 annualized) and is up from $0.49 per share ($1.96 annualized) for the second quarter of 2015. This is KMI’s 15th [Read more]
COSIA boss says members “doubling down” despite low crude prices
CALGARY - Members of Canada's Oil Sands Innovation Alliance are "doubling down" on sharing their green technologies despite the pinch from low crude oil prices, the group's boss said Wednesday.Oilsands firms are sharing about as many different technologies now, with oil below US$50 a barrel, as they were last year, when crude peaked at US$107 a barrel, Dan Wicklum said in an interview.The aim of COSIA, which was launched in early 2012, is to enable competing oilsands companies to share [Read more]