OTTAWA - Canadian oilsands exporters narrowly survived a vote in the European Parliament on Wednesday that could have once again penalized Alberta bitumen as dirty oil.A proposed fuel quality directive for European Union refineries has been the subject of a well-funded Canadian lobbying campaign for more than two years.Canadian negotiators thought the matter was settled this fall when the European Commission backed off and decided all European feedstock crude would be assigned common carbon [Read more]
News
Husky Energy Tailors Capital Spending to Deliver on Balanced Growth Strategy
CALGARY, ALBERTA--(Marketwired - Dec. 17, 2014) - Husky Energy's (TSX:HSE) balanced growth strategy and diverse project portfolio continue to support its business objectives and provide significant flexibility in a weak commodity price environment. "We continue to steer a steady ship through stormy waters," said CEO Asim Ghosh. "Our strong financial position and resilient portfolio are helping weatherproof our business against current market conditions." Production growth in 2015 will be [Read more]
Leucrotta Acquires Additional Montney Lands and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Dec. 17, 2014) - Leucrotta Exploration Inc. ("Leucrotta") (TSX VENTURE:LXE) is pleased to announce that it has added 6,400 acres (10 sections) of Montney lands contiguous to its current landholdings in the greater Dawson area of Northeast British Columbia for $6.6 million. Including the new lands, Leucrotta now has over 170 net sections of Montney prospective lands in the area. During Q4 2014, Leucrotta drilled one Montney horizontal well (8-18) and is [Read more]
Eagle Energy Trust Announces $100 Million Acquisition in North Central Alberta
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2014) - Eagle Energy Trust (TSX:EGL.UN) (the "Trust" or "Eagle") is pleased to announce that its newly established Canadian operating subsidiary, Eagle Energy Canada Inc., has signed a purchase and sale agreement with Spyglass Resources Corp. (the "Seller") to acquire a 50% non-operated working interest in producing petroleum properties under horizontal waterflood in the Dixonville Montney "C" oil pool located in north central Alberta (the "Dixonville [Read more]
Spyglass Resources Corp. Announces $100 Million Asset Sale, 2015 Budget, Suspension of the Dividend, Update on Corporate Strategy and Revision of Credit Facility
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2014) - All values are in Canadian dollars unless otherwise indicated. Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1. Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) announces $100 million sale of 50 percent working interest in its Dixonville Montney "C" oil property, 2015 capital budget, suspension of the dividend and intention to commence a normal course issuer bid (the "Issuer [Read more]
Whitecap provides revised outlook for 2015, maintains sustainability and financial strength
CALGARY, Dec. 16, 2014 /CNW/ - In response to the dramatic drop in crude oil prices over the past six weeks, Whitecap's Board of Directors and Management felt it prudent and necessary to revise our budget outlook for 2015. Our capital program for 2015 will be reduced by 32% to $245 million from $360 million in order to maintain our financial flexibility and to provide continuous long term sustainability for our shareholders. The capital reduction will allow Whitecap to still grow production per [Read more]
Bonavista Energy Corporation Confirms 7% Production Growth in 2015 with Revised Budget and Change to Dividend
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2014) - Bonavista Energy Corporation (TSX:BNP) ("Bonavista") announces that its Board of Directors has approved a reduction in our 2015 capital budget and an adjustment of our monthly dividend to $0.035 per share from $0.07 per share, beginning with the payment due on February 16, 2015. 2015 Guidance To reflect the current outlook for commodity prices, Bonavista's 2015 capital budget has been revised to between $375 and $425 million, drilling [Read more]
Obama signs order withdrawing Alaska’s Bristol Bay from offshore oil and natural gas drilling
ANCHORAGE, Alaska - President Barack Obama announced Tuesday that he's removing more than 52,000 square miles of waters off Alaska's coast from consideration for oil and gas exploration or drilling.The president said in a video announcement that Bristol Bay and nearby waters, covering an area roughly the size of Florida, would be withdrawn from consideration for petroleum leases. He called Bristol Bay one of the country's great natural resources and a massive economic engine."It's something [Read more]
Dejour Discovery Nets 38’ Combined Pay at Woodrush
Encounters Both Halfway Oil Pool Extension and Gething Gas Pool VANCOUVER, British Columbia--(BUSINESS WIRE)--Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, updates current development progress underway at the Woodrush/Hunter Project (“Woodrush”) in NE B.C. As per the previously announced 2014 development program, [Read more]
Priority No. 1 for incoming U.S. Congress: Keystone XL pipeline, Republicans say
WASHINGTON - A showdown over the Keystone XL pipeline is set for early in the new year, with the Canadian oil project having been anointed as the No. 1 priority of the new Republican-dominated Congress.A Keystone XL bill will be the first item in the Senate after the new Congress convenes on Jan. 6, the next leader of the chamber, Republican Mitch McConnell, announced Tuesday.McConnell also said he'll allow amendments to the bill. That means it could become a venue for horse-trading, as [Read more]