CALGARY - It's a tough time to be looking for a deal in the oilpatch, due to a combination of market uncertainty and confusion over federal foreign investment rules introduced during the past year. With Canada's major energy companies set to report their third-quarter results over the next few weeks, observers say investors will be eagerly awaiting an update on how the firms are slimming their portfolios by selling non-core assets. The likes of Talisman Energy Inc. (TSX:TLM) and Canadian [Read more]
News
Final day of Line 9 hearings cancelled
TORONTO - The final day of hearings on a proposal to reverse the flow of a pipeline that runs between southern Ontario and Montreal were cancelled Saturday due to security concerns.But that didn't deter dozens of protesters who rallied outside the site of the scrapped hearing to oppose Enbridge's plan to reverse its Line 9 and increase its capacity to carry crude oil."They try to make it seem like we're not going to have a spill. And it's very likely that a spill will happen somewhere along this [Read more]
‘Warriors’ seize journalists’ car, camera equipment at NB shale gas protest site
REXTON, N.B. - The news director for Global News in New Brunswick says a news vehicle and camera were seized by five protesters in Rexton, N.B., Saturday and a reporter threatened. Jim Haskins said journalist Laura Brown was at the site of an ongoing shale gas protest around noon when the protesters confronted another media outlet and seized a vehicle. One of the signs atop a burnt out police car at the anti tracking protest in #rexton. pic.twitter.com/jomodfs8XV— Julia Wong [Read more]
Status of Syncrude Operations Following Natural Gas Supply Disruption
CALGARY, ALBERTA--(Marketwired - Oct. 18, 2013) - Canadian Oil Sands ("COS") (TSX:COS) today provides an update on its Syncrude project following a disruption in natural gas supply early yesterday morning to industrial customers in the Wood Buffalo region of Alberta, which included Syncrude and several other oil sands facilities. Syncrude temporarily suspended shipments of light, sweet synthetic crude oil, as operations were dialed back to manage reduced natural gas supply. Shipments have [Read more]
Canadian Natural donates $7M to University of Calgary engineering school
CALGARY - The University of Calgary says it has received its largest corporate donation from one of Canada's biggest oil and gas producers.Canadian Natural Resources Ltd. is contributing $7 million towards a previously announced expansion and renovation at the university's Schulich School of Engineering.The total price tag of the upgrade is $158.3 million.Earlier this month, Alberta Premier Alison Redford announced the provincial government would be contributing $145.2 million to the school.The [Read more]
Northern Alberta First Nation gets OK to appeal oilsands approval
EDMONTON - Alberta's highest court is giving an aboriginal group the OK to appeal regulatory approvals of an oilsands project.The Court of Appeal is permitting the Fort McKay First Nation to challenge go-ahead given to Brion Energy's plans for a 50,000-barrel-a-day operation northwest of Fort McMurray.The ruling means the First Nation will be allowed to question the Alberta Energy Regulator's decision not to consider the band's arguments.The band believes its constitutional rights were violated [Read more]
BC minister believes big LNG investment announcements only weeks away
BEIJING - B.C.'s Minister of Natural Gas Development, Rich Coleman, believes firm announcements about offshore investment in the province's fledgling liquefied natural gas industry are scant weeks away.Speaking from Beijing at the mid-point of a three-country trade mission to Asia, Coleman says Chinese and Korean companies are bullish on B.C.'s LNG industry and he's expecting a similar reaction when he meets with business leaders in Malaysia.The minister says he has wrapped up high-level [Read more]
Ontario Police warn of possible hwy closure due to First Nations protest near London, Ont.
STRATHROY, Ont. - Police are warning motorists of potential traffic disruptions around London, Ont., on Saturday, due to a possible demonstration by First Nations protesters.Sgt. Dave Rektor says Highway 402 near Strathroy, west of London, could be closed starting at 10 a.m., if the protesters show up as expected.Rektor says police do not condone the protest and they are holidng discussions with organizers of the protest in hopes of finding a safer location.The demonstration follows one on [Read more]
Alberta China sign framework deal to collaborate on energy
EDMONTON - Alberta and China have signed what they term a landmark deal to increase trade ties and collaboration between the two jurisdictions.Alberta Energy Minister Ken Hughes says the framework on sustainable energy development, while non-binding, opens doors to get Alberta's oil and gas to the rapidly expanding economy of the Asian nation."It's a direct line into the strategic thinking of the policy makers in the whole of China," Hughes said Friday from Beijing, in a conference call with [Read more]
Manitok Energy Inc. Announces Operational Update
CALGARY, ALBERTA--(Marketwired - Oct. 18, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to provide an update on its 2013 drilling program. Drilling Update The 18th Stolberg Cardium oil well, the second of a 3 well pad on section 29 where Manitok has a 79% working interest, was recently production tested. The unstimulated horizontal well was swabbed [Read more]