In his first speech to Progressive Conservative party members as premier, Dave Hancock apologized to them for the mistakes of the Alison Redford era. Without mentioning Redford by name, Hancock told about 1,300 party members Thursday that he was sorry the governing caucus lost touch with the grassroots. “We took Albertans and your support for granted and acted in a way that’s contrary to our values,” Hancock said at the party’s annual Edmonton fundraising dinner. “I am truly sorry that [Read more]
News
TransCanada reports $412M first-quarter profit, revenue up 28 per cent
CALGARY - TransCanada Corp. (TSX:TRP) said Friday it earned $412 million in its latest quarter as revenue grew nearly 30 per cent compared with a year ago.The company behind the controversial Keystone XL project said the profit amounted to 58 cents per share for the quarter ended March 31, compared with a profit of $446 million or 63 cents per share a year ago.Revenue increased to $2.88 billion, up from $2.25 billion a year ago.Excluding certain one-time items, TransCanada said its comparable [Read more]
Oil company abandons plan to drill wells in Lethbridge city limits after petition
LETHBRIDGE, Alta. - The mayor of a southern Alberta city says an oil and gas company's decision to abandon plans to drill three exploratory wells within city limits is a victory for activism. Goldenkey Oil Inc. announced Wednesday that it will not be applying to the Alberta Energy Regulator to access its mineral rights in the Lethbridge area. Goldenkey says the decision was the result of public consultations, inquiry responses and numerous meetings with stakeholders. Project [Read more]
Marquee Energy Ltd. announces closing of $20.1 bought deal equity financing
CALGARY, May 2, 2014 /CNW/ - Marquee Energy Ltd. ("Marquee") (TSX-V: MQL) is pleased to announce that it has closed its previously announced bought deal financing of 22,115,650 common shares, including the 15% over-allotment option of 2,884,650 common shares in the capital of Marquee ("Common Shares") at a price of $0.91 per Common Share for total gross proceeds of $20,125,242 (the "Offering"). The Offering was conducted through a syndicate of underwriters co-led by National Bank Financial Inc. [Read more]
Border Announces Closing of Asset Sale
CALGARY, ALBERTA--(Marketwired - May 1, 2014) - Border Petroleum Limited ("Border" or the "Corporation") (TSX VENTURE:BOR) announces that, subject to final TSX Venture Exchange approval, it has completed an arm's length transaction pursuant to an Agreement of Purchase and Sale between the Corporation and a private limited partnership whereby the Corporation has divested of its Leduc assets in consideration for $1,800,000 in cash. Border also announces the termination of John Aihoshi's [Read more]
NEB Approves Aurora LNG and Oregon LNG Export Licenses
CALGARY, May 1, 2014 /CNW/ - The National Energy Board (NEB or Board) today approved two applications for 25 year natural gas export licences. A licence was approved for Aurora Liquefied Natural Gas Ltd. (Aurora LNG) to export liquefied natural gas (LNG), for a maximum term amount of 849.82 109m3. The export point would be in the vicinity of Prince Rupert, British Columbia at the outlet of the loading arm of a proposed liquefaction terminal. A licence was also approved for Oregon LNG [Read more]
United Nations trying to stop fracking in Newfoundland
ST. JOHN'S, N.L. - The UNESCO World Heritage Committee will vote in June on a recommendation for a buffer zone to protect Gros Morne National Park in western Newfoundland after fracking proposals stoked fierce debate. United Nations experts advising the committee say Canada should be encouraged to protect the park's natural beauty from oil extraction. That recommendation and others are included in a package posted to the UN's World Heritage Centre website. The committee called off a [Read more]
Imperial Completes Sale of Certain Western Canada Conventional Oil and Gas Assets
CALGARY, May 1, 2014 /CNW/ - Imperial Oil Limited announced today the successful completion of its previously announced sale of interests in assets located in Boundary Lake, Cynthia/West Pembina, and Rocky Mountain House in Western Canada to Whitecap Resources Inc. for CA $855 million. As a result of the sale, Imperial will record an after-tax earnings gain of between $475 million and $525 million in the second quarter of 2014. Located in British Columbia and Alberta, these assets produced [Read more]
Bonavista Energy Corporation Announces 2014 First Quarter Results
CALGARY, ALBERTA--(Marketwired - May 1, 2014) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to report to shareholders its condensed consolidated interim financial and operating results for the three months ended March 31, 2014. The unaudited financial statements and notes, as well as management's discussion and analysis, are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on Bonavista's website at [Read more]
Fiery train wreck in Virginia brings demands for tighter regulation of crude oil shipments
LYNCHBURG, Va. - The latest in a string of fiery oil-train wrecks brought renewed demands Thursday that the Obama administration quickly tighten regulations governing the burgeoning practice of transporting highly combustible crude by rail.With production booming in the Bakken oil field along the U.S. northern tier and in Canada, some experts say stronger rules to head off a catastrophe are long overdue.In the latest crash, a CSX train carrying Bakken crude from North Dakota derailed Wednesday [Read more]