VANCOUVER - The Gitga'at (GIT-gat) First Nation in British Columbia has filed a court challenge to a federal review panel recommendation in favour of the Northern Gateway pipeline.The latest request for a judicial review by the Federal Court of Appeal brings to 10 the number of applications filed in Vancouver.The Gitga'at say the federal government cannot go ahead with the project proposed by Calgary-based Enbridge (TSX:ENB) because the joint review panel erred in law by recommending [Read more]
News
Gulf Coast Project Begins Delivering Crude Oil to Nederland, Texas
NEDERLAND, TEXAS--(Marketwired - Jan. 22, 2014) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today that at approximately 10:45 a.m. CST on January, 22, 2014, the Gulf Coast Project began delivering crude oil on behalf of our customers to Texas refineries. The completion of this US$2.3 billion crude oil pipeline provides a safe and direct connection between the important oil hub in Cushing, Oklahoma and delivery points on the U.S. Gulf Coast. "This is a very important [Read more]
Southern leg of Keystone XL starts up
CALGARY - Opponents of the Keystone XL project say they'll be watching the southern leg of the oil pipeline "like a hawk." They made their vow on a media conference call on Wednesday, as the US$2.3-billion Oklahoma-to-Texas stretch of the line officially began shipping crude oil. Jane Kleeb of Bold Nebraska, a group fighting the pipeline, says the startup marks a sad day as it poses risks for those who live along the route. The northern portion of the pipeline has been held up by [Read more]
Tourmaline Oil Corp. Increases Size of Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2014) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to announce that in connection with its previously announced bought-deal financing, Tourmaline and the syndicate of underwriters led by Peters & Co. Limited and including Scotia Capital Inc., FirstEnergy Capital Corp., CIBC World Markets Inc., National Bank Financial Inc., RBC Capital Markets and TD Securities Inc. have agreed to increase the size of the financing. [Read more]
TransCanada to brief media on Keystone XL
CALGARY - TransCanada Corp. says it will brief members of the media today about the official startup of crude oil shipments on the southern portion of its controversial Keystone XL pipeline. The northern portion of the pipeline has been held up by concerns over potential risks to drinking water supplies and climate change. TransCanada and the Canadian government are awaiting a decision from the U.S. State Department and President Barack Obama, whose approval is required because the [Read more]
Renegade Petroleum Reminds Shareholders to Support Current Board of Directors at Upcoming Special Meeting
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2014) - Renegade Petroleum Ltd. (TSX VENTURE:RPL) reminds its shareholders to support the company's strategic review, which is delivering results, by voting the WHITE proxy ballot in favour of the current board of directors. We would like to thank shareholders for the strong support received to date and remind shareholders who have not yet voted, to vote their WHITE proxy no later than 11:00 a.m. (Calgary time) on Friday, January 24, 2014 to ensure that [Read more]
Oil above $95 amid hopes for global growth
The price of oil rose above $95 a barrel on Wednesday amid expectations for solid demand and weaker supply, particularly in Asia and Europe. By early afternoon in Europe, benchmark U.S. crude for March delivery was up 53 cents at $95.50 a barrel in electronic trading on the New York Mercantile Exchange. On Tuesday, the Nymex March contract closed at $94.97 a barrel, up 38 cents. The IMF said Tuesday it expects the world economy to grow 3.7 per cent this year and the U.S. economy by 2.8 per [Read more]
Hearing begins on Peace River oilsands operation
PEACE RIVER, Alta. - Hearings have begun in northwestern Alberta about odours blamed on oilsands operations that have driven families off their land.Residents of two tiny communities near Peace River are concerned over the way Baytex Energy has operated its oilsands extraction process in the area. They say it is creating powerful gassy smells that are impossible to live with.One family has relocated to Smithers, B.C.In an affidavit filed with the Alberta Energy Regulator, one resident complained [Read more]
Cequence Announces Expanded Ansell Project and Production of 12,000 boepd
CALGARY, Jan. 21, 2014 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce expansion of its project at Ansell and production of 12,000 boepd. Ansell Project Cequence is pleased to announce the initial success of the Company's Wilrich drilling program at Ansell and the addition of key lands increasing its total landholdings to 46.5 gross sections. The most recent Wilrich well was drilled at 14-19 (49 % working interest) and tested at 2,500 boepd, and has [Read more]
Penn West Provides Fourth Quarter, 2013 Operational Update and Announces Additional Non-Core Asset Dispositions for Expected Proceeds of Approximately $175 Million
CALGARY, Jan. 21, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX: PWT) (NYSE: PWE) ("Penn West", "our" or the "Company") is pleased to provide an operational update on fourth quarter 2013 activities and announces additional non-core asset dispositions for expected proceeds of approximately $175 million. OVERVIEW On November 6, 2013 Penn West released a long-term strategy to position itself as a stronger and more vibrant company with the goal of becoming Canada's leading conventional liquids [Read more]