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]
News
Whitecap Resources Inc. Confirms Credit Facility at $1.2 Billion, Provides Operational Update and Increased Production Guidance
CALGARY, Oct. 21, 2015 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to confirm our credit facility has been maintained at the current $1.2 billion and would like to provide shareholders with an update on our successful capital execution thus far in 2015. Our third quarter operational results have once again exceeded expectations with average production over 1,800 boe/d (5%) above our forecast of 40,000 boe/d. This provides us with an opportunity to increase [Read more]
Industry’s post-election position is ambiguous
It is conventional wisdom that in any election, there will be winners and losers. So where does Canada's oil & gas industry - and the millions of people relying on it - stand in the aftermath of the Liberals' landslide? Win or lose is a matter of perspective. The oil & gas industry needs pipelines. In the person of Prime Minister Harper, the industry had an unequivocal supporter. While every serious contender to some varying extent touted their support for Canada's resource sector, it [Read more]
Shell changes response to possible blowout, gets OK to drill off Nova Scotia
HALIFAX - A federal regulator will allow Shell Canada Ltd. to begin exploration drilling off Nova Scotia after it reduced the number of days it would take the company to bring in capping technology in the event of a subsea well blowout.The company says it would have a capping stack on site within 12 to 13 days after previously saying it would take up to 21 days.The Canada-Nova Scotia Offshore Petroleum Board said Tuesday it is satisfied that Shell is taking all reasonable precautions to protect [Read more]
Long Run Exploration Ltd. Provides Update on Proposed Private Placement
CALGARY, ALBERTA--(Marketwired - Oct. 20, 2015) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) announces that the special meeting of Long Run shareholders initially planned for November 12, 2015 ("Proposed Special Meeting") in connection with the proposed private placement to Maple Marathon Investments Limited ("Maple Marathon") has been temporarily delayed for the reason outlined below. On October 16, 2015, MIE Holdings Corporation ("MIE"), the owner of Maple [Read more]
Justin Trudeau leads Liberals to majority government
The Liberal Party of Canada has made a stunning turnaround in this year's federal election. In total, the Liberals officially won 184 seats, surpassing 170 seat minimum for a majority government. The Liberal win effectively ends close to 10 years of Conservative leadership under Prime Minister Stephen Harper. Harper has indicated that he will indeed be stepping down as leader of the Conservatives, but will remain as an MP. “During the past 9 1/2years it has been an unbelievable honour [Read more]
Traverse Energy Ltd. Announces Increase in Size of Private Placement Financing
CALGARY, ALBERTA--(Marketwired - Oct. 19, 2015) - Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) reports that due to the oversubscription of its previously announced non-brokered private placement, the Corporation is increasing the size of its private placement of common shares of the Corporation ("Shares") to be issued on a "flow through" basis eligible for the renunciation of Canadian development expenses within the meaning of the Income Tax Act (Canada) at $0.60 per Share (the [Read more]
Alberta Energy Regulator says charges laid against Apache Canada for 2013 spill
CALGARY - An energy company with a troubled safety history is facing seven charges related to a pipeline spill that leaked roughly 1.8 million litres of contaminated water in a remote area of northwestern Alberta.Apache Canada Ltd. has been charged under the Environmental Protection and Enhancement Act, the Public Lands Act and the Pipeline Act for the October 2013 spill near Zama City that leaked a mix of water, salt, oil and minerals onto more than 3.8 hectares of land.Alberta Energy Regulator [Read more]
BV Investment Partners Announces Investment in geoLOGIC systems ltd.
CALGARY, October 19th, 2015 – BV Investment Partners ("BV"), a middle-market private equity firm focused on the information and business services and communications sectors, today announced a major investment in geoLOGIC systems ltd. by acquiring the shares of Company founders Joe and Denise Harris. The transaction was completed in partnership with the geoLOGIC's President and CEO, David Hood, who will retain his entire ownership interest in the Company. Founded in 1983 and headquartered in [Read more]
Oil Market Showdown: Can Russia Outlast The Saudis?
November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. This decision set crude prices on a downward path. Subsequently, to defend market share, the Saudis increased production, which exacerbated market oversupply and further pressured prices. While the sharp decline in crude prices has saved crude consuming nations hundreds of billions of dollars, the loss in revenues has caused crude exporting countries intense [Read more]