OTTAWA, Sept. 23, 2015 /CNW/ - Following impressive growth of 5.1 per cent last year, Calgary's economy is expected to contract by 0.5 per cent in 2015 due to the dramatic drop in energy prices, according to The Conference Board of Canada's Metropolitan Outlook: Autumn 2015. "Oil sector woes are rippling across all sectors of Calgary's economy. Construction and oil and gas extraction output will fall, while manufacturing and services activity will slow this year," said Alan [Read more]
News
Alberta Energy Regulator overhaul review by year end
Marg McCuaig-Boyd says she will deliver a recommendation regarding the future structure of the Alberta Energy Regulator to Premier Rachel Notley by the end of 2015. The energy minister is currently examining whether the AER should be split or whether it is capable of performing the dual roles of developing the province’s oil and gas resources and enforcing environmental standards. “Is the mandate still the current one or do we have to look at changing it? Once we get that work done, I’ll [Read more]
Strad Energy Services Responds to Announcement of Total Energy’s Intention to Make an Unsolicited Offer for Strad
CALGARY, ALBERTA--(Marketwired - Sept. 22, 2015) - Strad Energy Services Ltd. ("Strad" or the "Company") (TSX:SDY) today responded to an announcement by Total Energy Services Inc. ("Total Energy") that it intends to make an unsolicited takeover bid for the outstanding shares of the Company. Strad cautions that no formal offer has yet been presented to Strad or its shareholders and there can be no certainty that an offer will be made or that a transaction will take place. Strad's Board of [Read more]
Husky Increasing Resiliency with Thermal Momentum and Downstream Integration
CALGARY, AB--(Marketwired - September 22, 2015) - Husky Energy (TSX: HSE) is prudently advancing its resilient thermal production portfolio as its fully integrated Downstream business captures incremental profits from the wellhead through to the refinery rack."In 2010 we set out our balanced growth strategy, which included the decision to remain an integrated company with a diverse portfolio of low sustaining capital projects," said CEO Asim Ghosh. "Thermal developments have long production [Read more]
No reprieve for Alberta’s economy as oil slowdown continues to take its toll in 2015: RBC Economics
TORONTO, Sept. 22, 2015 /CNW/ - Another drop in crude oil prices this past summer aggravated already challenging economic conditions in Alberta, thereby contributing to a more pronounced and widespread negative growth hit than previously forecasted, according to the RBC's Provincial Outlook report released today. RBC noted that as a result of deteriorating conditions over the summer, the Alberta economy is now expected to contract by 1.3 per cent in 2015 compared to the June [Read more]
geoLOGIC & CAPLA announce partnership, McCuaig-Boyd to present at Lunch n Learn
geoLOGIC systems and the Canadian Association of Petroleum Land Administration (CAPLA) are proud to announce a brand new partnership where geoLOGIC will be the leading sponsor of CAPLA’s 2015-16 Lunch ‘n Learn series. geoLOGIC’s partnership will directly impact CAPLA’s ability to enhance skill development and technical expertise among land professionals, provide educational resources and tools, disseminate the latest industry information, and provide valuable opportunities for mentoring and [Read more]
Encana reports natural gas well blowout in northern Alberta, AER investigates
FOX CREEK, Alta. - Emergency protocols kicked into gear Monday afternoon after a natural gas well blowout in northern Alberta.Peter Murchland of the Alberta Energy Regulator said they were notified of the blowout about 2 p.m. on Monday by Encana Corp. (TSX:ECA).The well, located about 18 kilometres west of Fox Creek, is licensed for hydrogen sulfide, a poisonous gas that smells like rotten eggs."We don't have all the details at this point," said Murchland. "At this point, we haven't identified [Read more]
AltaGas Ltd. Announces Acquisition of US Natural Gas-Fired Generation Facilities for US$642 Million, Dividend Increase and $300 Million Common Share Offering
CALGARY, ALBERTA--(Marketwired - Sept. 21, 2015) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that it and its indirect wholly owned subsidiary AltaGas Power Holdings (U.S.) Inc. have entered into a purchase and sale agreement with Highstar Capital IV, L.P. and certain of its affiliates to acquire GWF Energy Holdings LLC, which holds a portfolio of three natural gas-fired electrical generation facilities in northern California totalling 523 MW (the "Acquisition"), [Read more]
Canada able to handle swings in resource prices, says Governor Poloz
CALGARY, Sept. 21, 2015 /CNW/ - The Canadian economy is able to deal with the challenges posed by large movements in resource prices, Bank of Canada Governor Stephen S. Poloz said today. In a speech at Calgary Economic Development's 2016 Economic Outlook event, Governor Poloz said that it's far better for Canada to have natural resources than not, even if swings in their prices can complicate the management of companies and economic policy. "Even when prices are falling, as they [Read more]
Harper’s unlikely best friend
In 2011, the NDP's “orange tide” whisked votes away from the Liberal Party, resulting in the opposite of what said voters were aiming for. The leader of the Conservative Party claimed 5,832,491 votes, 39.62% of the people who wanted their opinion to count. But it was Jack Layton's surge in popularity that won Stephen Harper more power than he had ever experienced as a politician, a majority government. This is explained by looking at where the votes came from, and as a zero-sum-game, the [Read more]