CALGARY - At least two big carbon emitters have given the thumbs-up to Alberta's plan to strengthen its greenhouse gas rules over the next 18 months.Capital Power (TSX:CPX) CEO Brian Vaasjo cheered the changes at a news conference alongside Environment Minister Shannon Phillips on Thursday, saying more green energy investment is likely to result."Not only is it the right thing to do, it's the right time to do it," said Vaasjo, whose Edmonton-based company generates power from coal, natural gas [Read more]
News
Environment lawyers challenge B.C.’s Kinder Morgan pipeline conditions
VICTORIA - British Columbia's five conditions for approval of the proposed $5.4 billion Kinder Morgan pipeline won't be addressed if the province isn't involved in the process, says a lawyer representing an environmental group.Ecojustice lawyer Karen Campbell said Thursday that the conditions set out by Premier Christy Clark are invisible during the ongoing National Energy Board process that is considering environmental approval of the pipeline.Ecojustice, on behalf of Living Oceans Society, [Read more]
Alberta tweaks greenhouse gas rules, emission intensity to be cut by 20 per cent
EDMONTON - The Alberta government has tweaked its greenhouse gas reduction rules now with a promise of a complete policy on reducing climate change-causing emissions a few months down the road."Some will argue that we aren't going far enough on these issues," NDP Environment Minister Shannon Phillips said Thursday. "I say to them we are serious about making progress. "Some will argue we are moving too far and too fast. I say to them that more of the same would be the worst thing we could do for [Read more]
Forent Expands Previously Announced Equity Plans
CALGARY, ALBERTA--(Marketwired - June 25, 2015) - Forent Energy Ltd. (TSX VENTURE:FEN) ("Forent" or the "Company") is pleased to announce it is increasing the size of its previously announced equity offerings, being the acquisition of an Alberta-based private resource company and a concurrent non-brokered private placement, from a contemplated aggregate of $2.0 million to an aggregate of up to $2.5 million at 40 cents per share on a post-consolidation basis. The Company will complete a 20:1 [Read more]
Bellatrix Announces Successful Start-Up of Phase 1 of the Bellatrix Alder Flats Plant and Completion of its Semi-Annual Borrowing Base Review
CALGARY, June 25, 2015 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce the successful start-up of Phase 1 of the Bellatrix O'Chiese Nees-Ohpawganu'ck deep cut gas plant in the Alder Flats area of Alberta (the "Bellatrix Alder Flats Plant" or the "Plant"). Bellatrix is also pleased to announce the completion of the current semi-annual borrowing base redetermination under its bank credit facilities. Phase 1 of the Bellatrix Alder Flats [Read more]
Surge Energy Inc. announces capital program for the second half of 2015
CALGARY, June 24, 2015 /CNW/ - Surge Energy Inc. ("Surge" or "the Company") announced today that the Company's management and Board are maintaining a conservative capital spending program for the second half of 2015, which is designed to both protect the Company's net asset value ("NAV") at $6.28 per share, and the Company's excellent balance sheet. While there has been a meaningful recovery in world crude oil prices in the first half of 2015, Surge management and Board will continue to assess [Read more]
LGX Oil + Gas Inc. Announces Significant Banff Completion Test Results
CALGARY, June 24, 2015 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV: OIL) is pleased to provide completion test results from recent southern Alberta activity. Big Valley (Three Forks) Formation production from the horizontal well at 6-36-8-24 W4M was isolated and the Banff Formation was completed with a 6 m perforated interval in the build section of the intermediate casing and stimulated with a small volume acid job. The completion has achieved the following extended production [Read more]
Alberta environment minister faces questions over work on protest book
EDMONTON - Alberta Environment Minister Shannon Phillips is vehemently rejecting opposition accusations she is a potential liability for her role in a decade-old book that urged protesters to break the law."This is an attempt to not talk about the real issues and what the government's agenda actually is," Phillips said Wednesday in an interview. "This is a big portfolio and I am up to that task. That's what I'm doing today, and that's what I have worked pretty well my entire adult life to [Read more]
Expect A Wave Of Consolidation In The Oil Industry
As stated previously, asset monetization by small E&P operators will start in earnest in the second half of this year out of cash flow necessity. Most, if not all, smaller market capitalization companies, public or private, are still free cash flow negative (operating cash flow less capital expenditure) and only a few of the larger ones are now, or will be, based on guidance. The point is, with volumes languishing (and probably poised to decline) tied to a flat oil futures price curve and [Read more]
B.C. politicians returning to legislature to tackle LNG law for proposed plant
VICTORIA - British Columbia's politicians are being recalled for a summer sitting to debate legislation designed to pave the way for a $36-billion liquefied natural gas plant on the north coast near Prince Rupert.Liberal House Leader Mike de Jong said Tuesday the legislative session will start July 13 and members will debate one bill, the discussion of which could last more than a week.The bill will ratify a project-development agreement between B.C. and Pacific NorthWest LNG, a joint venture [Read more]