NEW YORK - The Energy Department says the nation's energy picture is getting ever rosier. Production is rising, consumption is slowing, and prices are expected to remain in check.According to the Energy Department's annual outlook, domestic oil output may regain the peak it reached in 1970 over the next two years and gasoline prices will fall over the same period to just over $3 per gallon.Natural gas production and use will continue to soar, demand for gasoline will fall, and energy-related [Read more]
News
Pembina Pipeline Corporation to Proceed with $2 Billion Phase III Expansion of its Pipeline System
Long-term agreements underpin new major expansions (All financial figures are approximate and in Canadian dollars unless otherwise noted.) CALGARY, Dec. 16, 2013 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that it has reached binding commercial agreements to proceed with constructing approximately $2 billion in pipeline expansions (the "Phase III Expansion"). The Phase III Expansion is underpinned by long-term take-or-pay transportation [Read more]
Arcan Executes $7.5 Million Asset Sale and Updates Winter Drilling Program
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2013) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Corporation") has completed the disposition of its non-core Virginia Hills asset for gross proceeds of $7.5 million. Proceeds from the sale will be applied directly against the debt on the balance sheet. Arcan also continues to solicit interest for other producing and development properties, which are described in detail in its September 23, 2013, news release. Arcan has started drilling [Read more]
RockBridge Appoints New Director
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 13, 2013) - RockBridge Resources Inc. ("RockBridge" or the "Company") (TSX VENTURE:RBE) is pleased to announce that Gurminder Sangha, of Vancouver, BC, has been appointed to its Board of Directors. Mr. Sangha is an independent business advisor to the resources industry and brings over twelve years of management and financing expertise in both public and private companies. Mr. Sangha has served as a board member on various TSX-Venture [Read more]
ARC Resources Ltd. promotes Mr. Terry M. Anderson to Chief Operating Officer
CALGARY, Dec. 16, 2013 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to announce the appointment of Terry M. Anderson to the position of Senior Vice President and Chief Operating Officer. Mr. Anderson is a long-time ARC employee having joined the company in 2000 as an operations engineer and was promoted to the position of Vice President, Operations in 2005. Mr. Anderson assumed the role of Vice President, Engineering in 2010 and was appointed to his current position of Senior Vice [Read more]
Ivanhoe Energy Receives Process Clarity on Shallow SAGD Projects from the Alberta Energy Regulator
CALGARY, Dec. 16, 2013 /CNW/ - Ivanhoe Energy (TSX: IE; NASDAQ: IVAN) announced today that it has learned that the Alberta Energy Regulator (AER) intends to develop a new long-term policy for reviewing shallow steam assisted gravity drainage (SAGD) applications in Alberta. Following discussions with each affected industry applicant, and by the end of January 2014, the AER plans to publish interim guidelines. Then, following extensive industry and stakeholder engagement, the AER will develop a [Read more]
Industry, governments talk oilsands water release
EDMONTON - Oilsands producers are talking with the federal and Alberta governments about conditions under which water from the industry's tailings ponds could be released into the environment.Officials say releases would only involve treated water and wouldn't happen until the end of a mine's life.Environmentalists are watching the discussions closely and warn that quality standards for released tailings water should be high."If they'd be willing to take the water and dump it in the Bow River [Read more]
Crew Energy Announces 2014 Capital Budget Focused on Long Term Montney Growth
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2013) - Crew Energy Inc. ("Crew" or the "Company") (TSX:CR) is pleased to announce that its Board of Directors has approved a $246 million capital program for 2014 focused on the development of liquids rich natural gas at Septimus, British Columbia and light oil at Tower, British Columbia. The program is designed to provide a platform for long-term profitable growth and to further delineate Crew's northeast British Columbia Montney resource with over 15 [Read more]
Judge’s delay for hearing application means Lubicon fracking protest can continue
LITTLE BUFFALO, Alta. - A anti-fracking blockade of an energy company's drilling site in northern Alberta will continue over the weekend after the protesters say a judge delayed hearing an application to get them to move. A news release from the Lubicon Lake Nation says a Calgary judge who was to hear the request by PennWest Exploration (TSX:PWT) has postponed the hearing until Monday. The protesters have been blocking an access road to PennWest's drilling site by Haig Lake since late [Read more]
U.S. billionaire, WHO MADE A FORTUNE ON OIL INVESTMENTS, explains anti-Keystone bid
WASHINGTON - Yes, the influential activist spearheading the fight against the Keystone XL pipeline has made a fortune in oil investments. Yes, he's invested in a rival pipeline that would compete with Keystone. But no, Tom Steyer says, there's nothing untoward about his motives. Steyer, the well-connected donor to successful U.S. political campaigns, says he left behind his previous life as an investment banker to dedicate himself to the fight against climate change. In a recent [Read more]