CALGARY, ALBERTA--(Marketwired - Dec. 15, 2014) - Canadian Oil Sands Limited (TSX:COS)(OTCQX:COSWF) ("COS") today announced that it expects Syncrude production to total about 94 million barrels in 2014, below the range of 95 to 100 million barrels provided in COS' October 30, 2014 guidance, due to an outage in a sour water treater. The repair to this unit is expected to be complete by the end of this month. Canadian Oil Sands Limited Through our 36.74 per cent interest in the Syncrude [Read more]
News
Lightstream Announces 2015 Capital Program, Strategic Initiatives and Dividend Reduction
CALGARY, ALBERTA--(Marketwired - Dec. 15, 2014) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) is announcing our 2015 capital program as well as certain strategic initiatives, including a 62.5 percent dividend reduction and plans to monetize all or a portion of our Bakken business unit, with the goal of maximizing our financial flexibility during this current environment of low oil prices and optimizing the long term value of the Company's assets. Corporate [Read more]
Pengrowth Announces First Steam at the Initial 12,500 Barrel Per Day Commercial Project at Lindbergh
CALGARY, ALBERTA--(Marketwired - Dec. 15, 2014) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) is pleased to announce that it has commenced steam operations at the Lindbergh Thermal Project located in the Cold Lake area of eastern Alberta. "First steam is a significant milestone for the Lindbergh Project as it represents the completion of construction and commissioning of the facilities and is the last major milestone before first oil," said Derek Evans, President and Chief Executive [Read more]
Alberta imposes cost saving measures in face of falling energy revenues
EDMONTON - Alberta is imposing some cost-saving measures to help deal with sharply falling resource revenues.Premier Jim Prentice announced Monday that government hiring will be restricted to critical or frontline positions.There will also be spending restrictions for goods and services and on discretionary items such as travel and training."We do not know how long this price trough is going to continue, but it may go far longer than has been expected," Prentice said Monday as the price of a [Read more]
Not dead yet: Fight continues over EU effort to label oilsands as dirty oil
OTTAWA - Like a movie monster from the black bog, a European Union directive that would stigmatize "dirty" imports of Canadian bitumen refuses to die.A vote Tuesday in the European Parliament could reject a compromise draft bill and revive tough fuel quality directive labelling that would target unconventional crude, specifically Alberta's oilsands.The vote of the full plenary was prompted earlier this month when the European Parliament's environment committee flatly rejected a deal worked out [Read more]
Shale gas not worth the risk, Quebec environmental agency says
MONTREAL - Quebec's environmental review board has concluded that exploiting the province's shale gas deposits is not worth the risk.The agency's highly anticipated report — released Monday — stated there are too many potential negative consequences to the environment and to society from extracting natural gas from shale rock along the St. Lawrence River.The report estimated that Quebec could receive between $71 million and $475 million a year, over 25 years, in royalties from shale gas [Read more]
Oil has fallen by nearly half, to recession levels, as US economy improves. Why, what to know.
NEW YORK - The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing.The price of a barrel of oil is just under $56, down from a summer high of $107, and lower than at any time since the U.S. was still in recession in the spring of 2009.So what's going on? A global imbalance of supply and demand that is rippling across the world economy, [Read more]
Apache Corporation announces the sale of Wheatstone and Kitimat LNG projects to Woodside Petroleum Limited
HOUSTON, Dec. 15, 2014 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) today announced it has agreed to sell its interest in two LNG projects, Wheatstone LNG and Kitimat LNG, along with accompanying upstream oil and gas reserves, to Woodside Petroleum Limited (ASX: WPL) for a purchase price of $2.75 billion. Apache will also be reimbursed for its net expenditure in the Wheatstone and Kitimat LNG projects between June 30, 2014, and closing which is estimated to be approximately $1 [Read more]
Talisman Responds to Media Reports
CALGARY, ALBERTA--(Marketwired - Dec. 15, 2014) - Talisman Energy Inc. (TSX:TLM)(NYSE:TLM) is issuing this press release after discussions with Market Surveillance at IIROC on behalf of the Toronto Stock Exchange. Talisman confirms that it is engaged in discussions with Repsol regarding a potential corporate transaction. Talisman has also been approached by a number of other parties regarding various transactions. There can be no assurances that these discussions will result in a transaction or [Read more]
Tourmaline Updates Activities and Revises 2015 Capital Program
CALGARY, AB--(Marketwired - December 15, 2014) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to provide an update on recent activities and announce a revised capital program for 2015. EP Update Current production is 145,000 boepd and will exceed the 2014 exit target of 150,000 boepd with the start-up of the Wild River plant expansion on December 22. Construction of the 50 mmcfpd Wild River phase 3 expansion has been completed, and commissioning is [Read more]