WASHINGTON - In the Monday night episode of "The Colbert Report," the joke was on Canada's oil industry.That's because the featured guest appeared to take a dig at the industry's long-awaited, long-delayed Keystone XL pipeline project.Unfortunately for project proponents, it just so happened that this skeptical guest was the man who controls its fate: U.S. President Barack Obama.The issue was raised by pretend news anchor Stephen Colbert. The instant he began touting the potential merits of the [Read more]
News
Arsenal Energy Inc. Announces Closing of Bought Deal Financing Including Exercise of Over-Allotment Option
CALGARY, ALBERTA--(Marketwired - Dec. 8, 2014) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI) announces it has closed its previously announced bought deal financing of 912,950 common shares on a "flow-through share" basis at a price of $9.95 per flow-through share ("Flow-Through Share"), which includes the exercise under the over-allotment option of 113,050 Flow-Through Shares, for aggregate gross proceeds of $9,083,852.50 (the "Financing"). The Financing was led by Paradigm [Read more]
EOG Resources Divests Majority of Canadian Assets
HOUSTON, Dec. 8, 2014 /PRNewswire/ -- EOG Resources, Inc. (NYSE: EOG) (EOG) today announced the divestiture of all its assets in Manitoba and certain assets in Alberta in two separate transactions that closed on November 28 and December 1, 2014. Approximate proceeds from the divestitures were US$ 410 million, net of customary transaction adjustments. As a result of these transactions, approximately US$ 150 million of restricted cash related to future abandonment liabilities was released. The [Read more]
Sunshine Oilsands Ltd. Announces Grant of Share Options
CALGARY, Alberta and HONG KONG, Dec. 8, 2014 /CNW/ -- This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). The board of directors of Sunshine Oilsands Ltd. (the "Corporation"; HKEX: 2012, TSX: SUO) announces that share options to acquire shares in the capital of the Corporation were granted by the Corporation to certain officers, employees and consultants under its share option [Read more]
Christy Clark says Petronas LNG project is a ‘done deal’ despite delay
TORONTO - British Columbia's premier said Monday the province's multibillion-dollar agreement with Petronas to build a liquefied natural gas terminal is "done," while acknowledging the Malaysian energy giant still has hurdles to overcome before the project can go ahead.Petronas announced last week that it was putting off construction of its proposed LNG terminal near Prince Rupert, B.C., even though it was pleased with recent moves the province made to make the nascent industry more [Read more]
Government tables pipeline safety act that makes companies liable for costs and damages
QUEBEC - The Harper government has announced legislation it says is aimed at enhancing Canada's pipeline safety system. Natural Resources Minister Greg Rickford says the new pipeline safety act builds on previous actions that have been taken to prevent incidents.The latest measures in the legislation introduced Monday in the Commons include absolute liability for all National Energy Board-regulated pipelines.That means companies would be liable for costs and damages irrespective of fault — up to [Read more]
Energy stocks punished on Toronto market as oil prices continue to plunge
CALGARY - There were more signs of belt-tightening in the oilpatch Monday, as oil prices continued their downward slide and energy stocks were pummelled.Precision Drilling Corp. (TSX:PD) and Vermilion Energy Inc. (TSX:VET) were among the Canadian energy firms to cut capital budgets for next year, in addition to Trilogy Energy Corp. (TSX:TET), which is also halting its dividend "given the current market environment."U.S. benchmark crude for January delivery was down more than four per cent from [Read more]
Arsenal Energy Inc. Announces Closing of Bought Deal Financing Including Exercise of Over-Allotment Option
CALGARY, ALBERTA--(Marketwired - Dec. 8, 2014) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI) announces it has closed its previously announced bought deal financing of 912,950 common shares on a "flow-through share" basis at a price of $9.95 per flow-through share ("Flow-Through Share"), which includes the exercise under the over-allotment option of 113,050 Flow-Through Shares, for aggregate gross proceeds of $9,083,852.50 (the "Financing"). The Financing was led by Paradigm [Read more]
Trilogy Energy Corp. Announces Intention to Implement a Normal Course Issuer Bid, Announces Discontinuance of Dividend and Provides 2015 Guidance
CALGARY, ALBERTA--(Marketwired - Dec. 8, 2014) - Normal Course Issuer Bid Trilogy Energy Corp. ("Trilogy") (TSX:TET) announced today that it intends to implement a normal course issuer bid ("NCIB") through the facilities of the Toronto Stock Exchange ("TSX") pursuant to which Trilogy would be able to purchase up to approximately 6,490,470 of its 105,150,110 common shares ("Common Shares") outstanding for a one year period at prevailing market prices on the TSX. The NCIB is subject to the [Read more]
Palliser Oil & Gas Corporation Announces Appointment of New Director and Resignation of Director
Calgary, AB / ACCESSWIRE / December 8, 2014 / Palliser Oil & Gas Corporation ("Palliser") (TSXV:PXL) announces the appointment of Kelly D. Kerr as a new board member and the resignation of Jeffrey C. Saponja from the Palliser Board of Directors. Mr. Kerr will serve on, and chair, the Palliser audit committee. Mr. Kerr has more than 28 years of experience working with various public and private oil and gas exploration companies. Mr. Kerr has held senior executive positions in junior public [Read more]