CALGARY - New Jersey's governor says delaying the Keystone XL pipeline sends a bad message to investors, stunts the growth of the Canadian oilsands industry and is no way to treat a key ally of the United States.One of the Republican party's top prospects for a run at the White House in 2016, Gov. Chris Christie travelled to Calgary on Thursday to back the controversial TransCanada (TSX:TRP) pipeline from Alberta's oilsands to the Gulf Coast and pan the time it is taking Washington to make a [Read more]
News
Questerre Appoints Ted Roberts to Board
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2014) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that it has appointed Ted Roberts to the Board of Questerre. Peder Paus, Chairman of Questerre, commented, "It is with great pleasure that we welcome Ted Roberts to our Board. He is currently a senior portfolio manager at Mandatum Life, our largest institutional shareholder. With his extensive experience in equity capital markets we are looking [Read more]
Enbridge Announces 33% Dividend Increase, Financial Restructuring Plans, Revised Payout Policy and 2015 Adjusted Earnings Guidance
CALGARY, ALBERTA--(Marketwired - Dec. 3, 2014) - 33% dividend increase, payable March 1, 2015 Plans to transfer Canadian Liquids Pipelines business to Enbridge Income Fund New dividend payout policy range of 75% to 85% of adjusted earnings 2015 Adjusted EPS guidance of $2.05 to $2.35 Parallel U.S. restructuring plan under consideration Enbridge Inc. (TSX:ENB) (NYSE:ENB) (Enbridge or the Company) today announced a 33% increase to its next quarterly common share dividend as well as [Read more]
Canadian Oil Sands cuts quarterly dividend by 42 per cent amid lower oil prices
CALGARY - Canadian Oil Sands Ltd. is cutting its quarterly dividend by 42 per cent as it aims to protect its balance sheet in a gloomy oil price environment.The Calgary-based firm (TSX:COS), whose main asset is a 37 per cent stake in the massive Syncrude oilsands mine north of Fort McMurray, Alta., said it plans to reduce its dividend to 20 cents from 35 cents when it reports its fourth-quarter earnings in late January.With the current dividend level, Canadian Oil Sands said its net debt would [Read more]
Canadian Oil Sands Announces 2015 Budget
CALGARY, ALBERTA--(Marketwired - Dec. 3, 2014) - Canadian Oil Sands Limited (TSX:COS)(OTCQX:COSWF) (COS) today announced its budget for 2015, which is marked by significantly lower capital expenditures, as Syncrude's major capital projects come to a close. This reinvestment included new or refurbished bitumen mining equipment to support decades of non-declining production and new technology to accelerate tailings reclamation. "With this budget, we are delivering a lower capital expenditure [Read more]
Dejour Moves Drill Rig to Woodrush
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, updates current development progress underway at the Woodrush/Hunter Project (“Woodrush”) in NE B.C. The Company has contracted Ensign Drilling Partnership to drill two wells at its Woodrush production complex. Rig arrival is [Read more]
Deep Well Announces Preliminary Results of the Sawn Lake SAGD Demonstration Project
EDMONTON, ALBERTA--(Marketwired - Dec. 3, 2014) - Deep Well Oil & Gas, Inc. (and its subsidiaries - "Deep Well" or "Company") (OTCQB:DWOG) is pleased to announce preliminary results of the Sawn Lake Steam Assisted Gravity Drainage ("SAGD") Demonstration Project. For Phase 1 of the SAGD demonstration project, one SAGD well pair was drilled in the fourth quarter of 2013 to a depth of 650 meters and a horizontal length of 780 meters. After the construction of the SAGD facility for steam [Read more]
Petronas delaying decision on B.C. LNG as oil slump further squeezes economics
CALGARY - Malaysian energy giant Petronas said Wednesday it's delaying its proposed liquefied natural gas terminal near Prince Rupert, B.C., even though it's pleased with recent moves the provincial government has made to make the nascent LNG industry more competitive.Petronas acknowledged the B.C. government has "brought resolution to key policy matters," such as establishing a tax regime for LNG firms, detailing offsets for greenhouse gas emissions and gaining support from First Nations.But [Read more]
Southern Pacific Launches Review of Capital Structure and Strategic Alternatives
CALGARY, ALBERTA--(Marketwired - Dec. 3, 2014) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) today announced that its Board of Directors has initiated a process to identify, examine and implement strategic and financial alternatives available to the Company in order to address its liquidity and capital structure. Strategic and financial alternatives may include, but are not limited to, the sale of the Company or all or a portion of its assets, [Read more]
Wynne, Prentice meet to talk Energy East pipeline amid Central Canada concerns
TORONTO - Ontario's concerns about the environmental impact of the proposed Energy East pipeline narrowed considerably Wednesday following a meeting between Premiers Kathleen Wynne and Jim Prentice of Alberta.Ontario and Quebec had set out seven principles for the $12-billion pipeline project, which would carry western crude to refineries in eastern Canada, the most notable relating to its potential impact on climate change.But after meeting Prentice in her office, Wynne said her concerns were [Read more]