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]
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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]
Athabasca Oil Corporation Announces Initial 2015 Capital Budget
CALGARY, Dec. 2, 2014 /CNW/ - Athabasca Oil Corporation's (TSX: ATH) ("Athabasca" or "the Company") Board of Directors has approved an initial 2015 capital budget of $266 million which includes $58 million of carryover from the 2014 budget. Athabasca's capital budget aligns with its strategic priorities, including delivering near-term production and cash flow growth from its cornerstone Kaybob Duvernay and Hangingstone assets and maintaining a strong balance sheet with flexibility to respond to [Read more]
Artek Exploration Ltd. Announces Non-Core Property Dispositions
CALGARY, ALBERTA--(Marketwired - Dec. 2, 2014) - Artek Exploration Ltd. (TSX:RTK) of Calgary, Alberta ("Artek" or the "Company") is pleased to announce that it has entered into purchase and sale agreements to dispose of certain non-core assets (the "Divested Assets") in the Peace River Arch area of Alberta. Total cash consideration, before customary closing adjustments, for the Divested Assets is approximately $21.85 million providing the Company with additional balance sheet strength to [Read more]
Waldron Energy Corporation Announces Engagement of Financial Advisor to Undertake Process to Dispose of Assets in Order to Unlock Shareholder Value
CALGARY, ALBERTA--(Marketwired - Dec. 2, 2014) - Waldron Energy Corporation (TSX:WDN) ("Waldron" or the "Corporation") is pleased to announce that it has engaged Cormark Securities Inc. as its exclusive financial advisor to assist the Corporation in order to pursue the sale of a material portion of the assets of the Corporation, either in one transaction or in a combination of transactions; a merger or other business combination; the outright sale of the Corporation; or some combination thereof. [Read more]
Imperial Oil Limited – Kearl production resumes
CALGARY, Dec. 2, 2014 /CNW/ - Imperial today confirmed that bitumen production has ramped up to pre-shutdown levels at its Kearl operations following a precautionary shutdown in early November, prompted by the detection of a vibration issue with the plant's ore-crusher unit. SOURCE Imperial Oil Limited For further information: Investor Relations, Christine Krol, (403) 766-1105; Media Relations, Pius Rolheiser, (403) 237-2710 [Read more]
Saskatchewan’s Premier says falling oil prices will tighten next year’s budget
REGINA - Saskatchewan's premier says falling oil prices could make next year's budget "tight," but the government will endeavour to balance it.Brad Wall said the cornerstone of the government's growth plan is fiscal responsibility, so he won't accept an operational deficit.The premier made the comments Tuesday following a state-of-the-province address to the Regina and District Chamber of Commerce.Last week, the government released its mid-year budget update and estimated the average price of [Read more]
Prentice and Couillard reiterate their respective positions on Energy East
QUEBEC - TransCanada Corp. should abandon its plan to build an oil terminal in an area in eastern Quebec where belugas have been listed as an endangered species, Premier Philippe Couillard said Tuesday.A federal government wildlife committee recently concluded that their numbers near Cacouna have dwindled to 1,000 from a high of 10,000.That information will make the project harder for TransCanada (TSX:TRP) to sell the Energy East project at environmental hearings in Quebec and with the National [Read more]
International Frontier Resources Corporation: Canadian National Energy Board Assessment Increases Oil and Gas Resources in NWT
CALGARY, ALBERTA--(Marketwired - Dec. 2, 2014) - International Frontier Resources Corporation ("IFR" or the "Company") (TSX VENTURE:IFR) today announced that in a report dated November 25, 2014 the Canadian National Energy Board ("NEB") increased the overall resource assessment for the Northwest Territories ("NWT") discovered conventional petroleum resource volumes to: 16.4 TCF of marketable natural gas 1227.8 million barrels of crude oil; and 53.3 million barrels of natural gas [Read more]