The price of oil dropped Tuesday after the U.S. said it was deploying a small group of troops to Iraq, which helped soothe fears somewhat over the prospect of a broader conflict that could disrupt crude supplies. Benchmark U.S crude for July delivery dropped 29 cents to US$106.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 1 cent to settle at $106.90 on Monday. Brent crude, a benchmark used to price international oils, fell 33 cents to $112.61 a [Read more]
News
Feds’ final decision on Northern Gateway later today
VANCOUVER - The federal government will announce its much-anticipated decision on the Northern Gateway pipeline after markets close today. Under its own rules, the Conservative government has a June 17 deadline for the final word on whether the 1,200-kilometre pipeline can be built linking the Alberta oilsands to a port on the British Columbia coast. A joint review panel of the National Energy Board and the Canadian Environmental Assessment Agency released a report in December recommending [Read more]
Keystone XL decision shouldn’t be symbol of Cda-US relations: Hillary Clinton
TORONTO - Washington's long-awaited decision to approve or reject the Keystone XL pipeline should not become a symbol of the relationship between the United States and Canada, former U.S. secretary of state Hillary Clinton said Monday.Speaking before a business crowd of roughly 1,800 in Toronto, Clinton said the controversial project — designed to move Alberta crude oil to the Gulf Coast — has become "a proxy for everything" as proponents and critics lock horns over its fate."However this [Read more]
Kelt Enters Into an Agreement to Acquire Strategic Montney Assets in Its Core Area Near Grande Prairie
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX:KEL) has entered into an agreement to acquire a private Canadian oil and gas company with crude oil and natural gas assets located at Valhalla/La Glace, adjacent to the Company's core producing areas at Pouce Coupe and Spirit River in west central Alberta. The acquisition is subject to standard industry closing conditions and closing is expected to occur on or around July 2, 2014. The [Read more]
Alberta regulator checks oilsands companies for odours
PEACE RIVER, Alta. - Alberta's energy regulator is mounting a two-week, around-the-clock compliance check near Peace River to ensure oilsands companies are following new rules on odour emissions."We only have so many people in each field office across Alberta, so we've essentially saturated this area with staff to do a targeted sweep," Jeff Toering of the Alberta Energy Regulator said Monday.The sweep involves two three-person teams moving from facility to facility in alternating 12-hour shifts [Read more]
Inter Pipeline to Provide Diluent Transportation for JACOS-Nexen Hangingstone Project
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today that it has entered into a binding agreement with Japan Canada Oil Sands Limited ("JACOS") and Nexen Energy ULC, a wholly owned subsidiary of CNOOC Limited ("Nexen"), to provide diluent transportation services for their jointly owned Hangingstone oil sands project. Under the initial term of the 20-year ship-or-pay agreement, Inter Pipeline will provide 7,000 barrels per day ("b/d") [Read more]
Suncor names Alister Cowan as Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Suncor Energy today announced the appointment of Alister Cowan as Executive Vice President (EVP) and Chief Financial Officer (CFO) effective July 21, 2014. Alister comes to Suncor from Husky Energy, where he had been CFO since 2008. As Suncor's CFO, Alister will direct financial operations including controllers, investor relations, treasury, tax, internal audit and enterprise risk management. "We are extremely pleased that Alister is [Read more]
Artisan Energy Completes Initial Closing of Convertible Debentures
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC) is pleased to announce that it has completed a first closing of the previously announced brokered private placement of Convertible Debentures (the "Offering"), lead by Richardson GMP Limited. Artisan issued Convertible Debentures for net proceeds of $5.062 million ($5.362 gross proceeds less $300,000 paid in cash commissions). Net proceeds from this closing will be [Read more]
Zargon Oil & Gas Ltd. Announces Resignation of Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") announces that Mr. Jason Dranchuk has tendered his resignation as Vice President, Finance and Chief Financial Officer of Zargon effective July 14, 2014 to pursue other opportunities. "We sincerely appreciate Jason's professionalism, commitment and contributions to our company during the last 12 years and we wish him the very best in his future endeavors," said Craig Hansen, President [Read more]
Husky Energy Advises of Chief Financial Officer Resignation
CALGARY, ALBERTA--(Marketwired - June 16, 2014) - Husky Energy Inc. (TSX:HSE) advises that effective July 18, 2014, Alister Cowan, Chief Financial Officer, will be leaving the Company to pursue other interests. "We appreciate Alister's contribution to the Company during his tenure here and wish him every success in his future endeavours," said CEO Asim Ghosh. Husky is well-positioned to continue to execute on its balanced growth strategy. "We maintain a strong, investment-grade balance [Read more]