The BOE Report is pleased to announce that it features a comments section below selected stories. Please chime in with your thoughts, but keep comments relevant and respectful. Most recent stories with comment section: Neil Young calls oilsands development “greediest, most destructive, disrespectful” (video) Column: Opposition to pipelines comes down to fundraising Prentice: Keystone XL a "distraction" Column: New Brunswick derailment highlights rail vs pipeline [Read more]
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Calgary seismic firm alleges intellectual property rights to data violated
CALGARY - A Calgary-based seismic company claims its business is being undercut by regulatory agencies that have been publicly disclosing data it says it spent hundreds of millions of dollars to collect in Canada's offshore. Geophysical Service Inc. makes — or rather made — its money by mapping the earth's layers beneath the ocean floor using sonogram-like technology, amassing a trove of valuable information that it would sell to oil and gas companies hunting for their next big find. In a [Read more]
Alaska governor unveils new plan for gas pipeline
JUNEAU, Alaska - Gov. Sean Parnell on Friday announced a new way forward on a long-hoped-for natural gas pipeline that includes scrapping the terms of a 2007 law he says no longer works well for the situation.In a major policy speech in Anchorage, Parnell said the state and Canadian pipeline builder TransCanada Corp. have agreed to terminate their involvement under the Alaska Gasline Inducement Act. He made clear, however, that TransCanada would remain a partner in the project, just under new [Read more]
Oil rises as jobs data shows economic weakness
The price of oil jumped more than $1 a barrel Friday as the U.S. economy added fewer jobs than expected, fuelling speculation that the Federal Reserve will reconsider its plans to slow economic stimulus. Benchmark West Texas Intermediate crude for February delivery gained $1.06 to US$92.72 on the New York Mercantile Exchange. The world's largest economy added just 74,000 thousand jobs in December, the Labor Department said, while analysts had forecast the addition of 196,000 jobs. The [Read more]
Lone Pine Resources Announces United States Court Approval of Restructuring Plan
CALGARY, ALBERTA--(Marketwired - Jan. 10, 2014) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") today announced that the United States Bankruptcy Court for the District of Delaware has issued an order (the "U.S. Recognition Order") recognizing and enforcing in the United States under Chapter 15 of the U.S. Bankruptcy Code ("Chapter 15") the order (the "Sanction Order") issued on January 9, 2014 by the Court of Queen's Bench of Alberta sanctioning and approving Lone Pine's previously [Read more]
Column: Opposition to pipelines comes down to fundraising
Environmentalists aren't interested in the facts By Barry Cooper CALGARY, AB/ Troy Media/ - One of the biggest political stories of 2014 will continue a major story of 2013: getting Alberta oil to world markets. Enbridge’s reversal of Line 9 through Ontario and Quebec (300,000 bpd) and the expansion of Kinder Morgan’s Trans-Mountain pipeline (300,000 bpd) are important. The most interesting (and weirdest) discussions concern the big ones, TransCanada’s Keystone XL (830,000 bpd) and [Read more]
Alberta regulator investigates CNRL well leak
COLD LAKE, Alta. - The Alberta Energy Regulator is investigating another leak from a Canadian Natural Resources (TSX:CNQ) bitumen well near Cold Lake.The regulator says 27,000 litres of contaminated water were released underground on Jan. 3 at the company's troubled Primrose field.Darin Barter, a spokesman for the regulator, says the leak has been stopped.He says none of the water reached the surface or contaminated underground aquifers.Barter says the leak was caused by a well failure — unlike [Read more]
Prentice: Keystone XL a "distraction"
CALGARY - Former Conservative cabinet minister Jim Prentice is urging Canada and the United States to look beyond the contentious and high-profile Keystone XL oil pipeline when it comes to their trade relationship.Prentice — who handled the environment and industry files during his time in government — says the two countries have been "preoccupied by a dispute over a single pipeline."Prentice, now a senior executive at CIBC (TSX:CM), says "we must move beyond this distraction" and calls for a [Read more]
Column: New Brunswick derailment highlights rail vs pipeline tradeoffs
By Kenneth P. Green CALGARY, AB/ Troy Media/ - Yet another train derailment involving petroleum products has re-invigorated the debate over how we transport oil in Canada. In this case, 17 cars on a train near Plaster Rock, New Brunswick, derailed; nine of which carried dangerous goods including crude oil and liquefied petroleum gas. According to recent reports, the cause of the derailment seems to involve a brake failure of some kind. As we have seen in other derailments, the derailed [Read more]
Officials hope to tackle train fire in New Brunswick after removing several cars
PLASTER ROCK, N.B. - Officials said they hoped to start Friday tackling the fire that continues to burn on several train cars days after they derailed in New Brunswick, sparking a blaze fuelled by liquefied petroleum gas and crude oil on board. CN (TSX:CNR) spokesman Jim Feeny said crews worked through the night and removed about six box and crude cars to allow firefighters to get closer to the site of the blaze in Wapske (Wob-ski), near Plaster Rock in northwestern New Brunswick. "Before [Read more]