CALGARY, ALBERTA--(Marketwired - Dec. 9, 2013) - Canadian Oil Sands Limited (COS) (TSX:COS)(OTCQX:COSWF) today announced 2014 capital expenditures of $1.1 billion, with the majority of expenditures directed to the previously disclosed major projects. COS is estimating a production range for Syncrude of 95 million to 110 million barrels in 2014; equivalent to 34.9 million barrels to 40.4 million barrels net to COS' 36.74 per cent interest in the project. 2014 Capital Program [Read more]
News
Traverse Energy Ltd. Closes First Tranche of Private Placement Financing
CALGARY, ALBERTA--(Marketwired - Dec. 9, 2013) - Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) is pleased to announce that it has successfully closed a first tranche of its previously announced non-brokered private placement (the "Private Placement") of common shares of the Corporation ("Shares") issued on a "flow through" basis eligible for the renunciation of Canadian development expenses within the meaning of the Income Tax Act (Canada). The Corporation issued 2,391,250 Shares [Read more]
Neil Young concert fights oilsands
EDMONTON - Music legend Neil Young is playing four concerts in his native Canada to benefit a northern Alberta aboriginal band fighting oilsands development in its territory. Canadian jazz singer and pianist Diana Krall is to appear as a special guest. Tickets for the January shows scheduled for Toronto, Winnipeg, Regina and Calgary go on sale Tuesday. "The theme of the concerts is honour the treaties," said Athabasca Chipewyan First Nation spokeswoman Eriel Deranger. "All the ticket [Read more]
OIL FLOWS ON GULF COAST PIPELINE
CALGARY - Oil has begun to flow on the southern leg of TransCanada Corp.'s Keystone XL pipeline. Spokesman Shawn Howard says the company began filling the US$2.3-billion line with oil Saturday morning in Cushing, Okla. That crude will eventually make its way to Houston-area refineries. Howard says over the coming weeks, TransCanada will inject about three million barrels of oil into the system. TransCanada is still awaiting approval from the Obama administration to construct the [Read more]
Natural gas prices soar, AECO spot price reaches 2 1/2 year high
Natural gas prices soared Friday on bullish supply data released on Thursday as well as chilly forecasts. On the NYMEX, natural gas futures for delivery in January traded at USD4.169/mmbtu during the day, up 0.88%. The AECO spot price in Alberta also caught fire as it shot up CAD$0.14/Mcf to settle at $4.04, it's highest level since June 2011. Cold weather gripping much of the US will hit the heavily populated eastern U.S. in the coming days, according to updated weather forecasts, [Read more]
Oil stays near $98 as US economy shows improvement
The price of oil remained close to $98 a barrel Monday after figures showing stronger U.S. hiring suggested demand for crude could increase.By early afternoon in Europe, benchmark U.S. crude for January delivery was down 2 cents at $97.63 a barrel time in electronic trading on the New York Mercantile Exchange. The contract closed up 27 cents at $97.65 on Friday.U.S. data has been showing strong signs of economic recovery, helping the Nymex contract rise last week by nearly 6 per cent, its [Read more]
Suncor announces interim Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - Dec. 9, 2013) - Suncor Energy today announced that Steve Reynish will assume the role of interim chief financial officer effective immediately. "I'm pleased that Steve will assume the role of interim CFO bringing his extensive business knowledge and strategic insight to the role while the search for a new CFO is underway," said Steve Williams, Suncor president and chief executive officer. "Steve has an exceptional track record of leading talented teams [Read more]
Progress Energy Canada and Pacific NorthWest LNG welcome second LNG investment
CALGARY, Dec. 8, 2013 /CNW/ - Progress Energy Canada Ltd., Pacific NorthWest LNG Ltd. and Petroliam Nasional Berhad (PETRONAS) have signed transaction agreements whereby PetroleumBRUNEI, through its affiliates, will acquire a 3 percent interest in Progress Energy Canada's natural gas assets in northeast British Columbia and in the proposed Pacific NorthWest LNG export facility on Canada's West Coast, in the District of Port Edward. As part of the transaction, PetroleumBRUNEI has agreed to buy a [Read more]
Shell’s Jackpine mine gets nod from Ottawa
CALGARY - Shell Canada's controversial Jackpine oilsands mine expansion plan has received the go-ahead from Ottawa. Environment Minister Leona Aglukkaq says the 100,000 barrels-per-day expansion is "likely to cause significant adverse environmental effects," but that it is "justified by the circumstances." In her decision, Aglukkaq set out 88 conditions for Shell regarding the protection of wildlife and the health of nearby aboriginal communities, among other things. Ottawa's decision [Read more]
Hyperion Exploration Corp. Announces CFO Resignation
CALGARY, ALBERTA--(Marketwired - Dec. 6, 2013) - Hyperion Exploration Corp. (TSX VENTURE:HYX) ("Hyperion" or the "Company") announces that Doug Bailey has resigned as Chief Financial Officer of the Company effective December 6, 2013 to pursue other interests. "I would like to sincerely thank Doug for his contribution to Hyperion," said Trevor Spagrud, President and Chief Executive Officer. "On behalf of the Board of Hyperion, I wish Doug the very best in his future endeavours." Mr. Newman Pak, [Read more]