EDMONTON - Some Alberta environmentalists say a national agreement between the forestry industry and conservation groups isn't working in the province.Keepers of the Athabasca and the Alberta Wilderness Association say logging is still going on inside caribou habitat and in buffer zones set up to protect the animals' ranges.In the Canadian Boreal Forest Agreement reached four years ago, major forestry companies agreed to preserve forests and environmentalists ended a boycott and media campaign [Read more]
News
Sprott Resource Corp. and Long Run Exploration Ltd. Close $67.7 Million Secondary Offering of Common Shares
TORONTO, ONTARIO--(Marketwired - May 21, 2014) - Sprott Resource Corp. ("SRC") (TSX:SCP) and Long Run Exploration Ltd. ("Long Run") (TSX:LRE) today announced the completion of a secondary offering of 12,654,635 common shares of Long Run ("Common Shares") by SRC at a price of $5.35 per Common Share, for gross proceeds of $67,702,297 to SRC (the "Offering"). Long Run will not receive any proceeds from the Offering. The previously announced Offering was completed on a bought deal basis by an [Read more]
Contact Exploration’s Proved Reserves Triple in Fiscal 2014
CALGARY, ALBERTA--(Marketwired - May 21, 2014) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is pleased to report that independent reserves evaluations effective March 31, 2014 have been completed by the Company's reserves evaluators in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and in accordance with the Canadian Oil and Gas Evaluation ("COGE") Handbook. GLJ Petroleum Consultants Ltd. ("GLJ") [Read more]
Encana Announces Increase in Indicative Size and Offering Price for Initial Public Offering of PrairieSky Royalty
CALGARY, ALBERTA--(Marketwired - May 21, 2014) - Encana Corporation ("Encana") (TSX:ECA)(NYSE:ECA) announced today that the number of common shares of PrairieSky Royalty Ltd. ("PrairieSky"), a wholly-owned subsidiary of Encana, that Encana proposes to sell in PrairieSky's initial public offering (the "Offering") has been increased to 52,000,000 common shares from 32,500,000 common shares, and the indicative offering price range has been increased to between $26.50 and $28.00 per common share [Read more]
Oil rises ahead of U.S. supply data and minutes from Fed meeting
The price of oil rose Wednesday before the release of the latest report on U.S. supplies and minutes from the U.S. Federal Reserve's April policy meeting.Benchmark U.S. crude for July delivery was up 56 cents to US$102.90 a barrel at 1:50 a.m. ET in electronic trading on the New York Mercantile Exchange. It gained 22 cents to $102.33 on Tuesday.Brent crude, a benchmark for international oil, was up 4 cents to $109.73 a barrel on the ICE exchange in London.Traders are watching for analysis of the [Read more]
Baytex Announces Approval by Aurora Shareholders of its Acquisition and Management Appointments
CALGARY, ALBERTA--(Marketwired - May 20, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) provides an update on the status of its proposed acquisition of all of the shares of Aurora Oil & Gas Limited ("Aurora") pursuant to a scheme of arrangement under Australian law (the "Arrangement"). At the scheme meeting held on May 21, 2014 at 9:30 a.m. (Perth time), the requisite majority of Aurora shareholders approved the Arrangement. Commenting on the shareholder vote, James Bowzer, [Read more]
NEB Releases Short-term Canadian Natural Gas Deliverability 2014-2016
CALGARY, AB, May 20, 2014 /CNW/ - The Natural Energy Board today released its Short-term Canadian Natural Gas Deliverability, 2014-2016 Energy Market Assessment (EMA). This EMA examines the factors that affect natural gas supply in Canada in the short term, and presents an outlook for Canadian natural gas deliverability from the beginning of 2014 to the end of 2016. Over the period assessed in the EMA, deliverability is expected to rise gradually, as declines in the output of dry natural gas are [Read more]
Funding problems threaten to ground night helicopter ambulance in oilsands area
FORT MCMURRAY, Alta. - A funding shortfall threatens to ground nighttime helicopter ambulance service in Alberta's bustling oilsands region.Phoenix Heli-Flight said it plans to discontinue night flights out of Fort McMurray to remote accident sites at the end of the month."If there is no funding in place, the company can't afford to keep it," chief pilot Darrel Peters said Tuesday.Peters said the company has a fee-for-service deal with Alberta Health Services when it responds to injury [Read more]
Industry says no added risk for Bakken crude despite explosive accidents in US, Canada
BISMARCK, N.D. - Oil industry representatives are pushing back against tougher rules for rail cars carrying crude despite a string of fiery accidents and insisting that oil shipped by train from the Northern Plains is no more dangerous than some other cargoes.An industry-funded report released Tuesday said the volatility of Bakken oil from North Dakota and Montana is comparable to other light crudes.But the report offers further evidence that Bakken crude is more volatile than heavier oils such [Read more]
Ottawa demands NAFTA body drop investigation into oilsands tailings
CALGARY - Ottawa is demanding the Commission for Environmental Co-operation drop its investigation into whether laws are being properly enforced when it comes to oilsands pollution. Two environmental groups and three individuals complained in 2010 to the CEC, a body created alongside the North American Free Trade Agreement as a way for Canada, the United States and Mexico to address environmental issues. The complainants assert the federal government has failed to enforce provisions in the [Read more]