TORONTO, ONTARIO and MONTREAL, QUEBEC--(Marketwired - Sept. 13, 2013) - Union Gas Limited ("Union Gas"), Gaz Métro Limited Partnership ("Gaz Métro") and Enbridge Gas Distribution ("Enbridge Gas") announced today an agreement with TransCanada PipeLines ("TransCanada") to ensure access to diverse and affordable natural gas supplies. The agreement includes a revised framework for TransCanada's mainline tolls and the proposed Kings North project. The revised project, when combined [Read more]
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TransCanada Reaches Settlement on Natural Gas Service With Local Distribution Companies in Eastern Canada
CALGARY, ALBERTA--(Marketwired - Sept. 13, 2013) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it has reached a settlement with local natural gas distribution companies (LDCs) in Ontario and Québec in connection with the access to Dawn and Niagara supplies and long-term tolls that will allow TransCanada to provide customers with the flexibility to source gas from various geographic locations while ensuring that the tolls for the Mainline are set at levels [Read more]
Alberta’s auditor general will probe oil pipeline safety, rule enforcement
EDMONTON (Canadian Press) - Alberta's auditor general is going to take a deeper look at the safety of oil and natural gas pipelines in the province.Merwan Saher said his audit will examine pipeline inspections and will look at how well companies are following government pipeline regulations and how well provincial regulations are being enforced."I wish to inform you that we will initiate such an audit as soon as reasonably possible," Saher wrote in letters to Alberta's opposition Wildrose and [Read more]
Visit to environmentally friendly oilsands not on Neil Young’s agenda: filmmaker
CALGARY (Canadian Press) - A filmmaker says Neil Young's trip to Alberta's oilsands seemed more about showcasing the Canadian singer's eco-friendly car for a documentary than about learning about the industry. Tim Moen has lived in Fort McMurray for 13 years and was contacted by Young's production company, Shakey Pictures, to shoot aerial footage. Moen said he spent a couple of hours in a helicopter last week mainly shooting Young's hybrid 1959 Lincoln Continental driving on the highway [Read more]
New Encana CEO says company will be leaner, less dry gas focused
CALGARY (Canadian Press) - The new CEO of Encana Corp. said Thursday that the energy giant's portfolio is far too big and has far too much weakly-priced natural gas in it, suggesting more asset sales are on the way.Doug Suttles, sharing his initial impressions of Encana's strengths and weaknesses at an investor conference in New York, also said his company's organizational structure needs an update.One of Suttles' first moves when he became CEO of the beleaguered company in June was to take a [Read more]
Encana Provides Update on Strategy Development Process
CALGARY, ALBERTA--(Marketwired - Sept. 12, 2013) - Encana (TSX:ECA)(NYSE:ECA) President & CEO Doug Suttles will provide an update on the company's strategy development process today at the Barclays CEO Energy-Power Conference in New York City. Encana engaged internal and external advisory teams to conduct a rigorous assessment of the company's assets and identify the company's strengths and challenges to inform the strategy development process. "Initial insights from the [Read more]
Strategic Oil & Gas Ltd. Announces Significant Muskeg Stack Light Oil Results and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Sept. 12, 2013) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to provide an operational update of third quarter 2013 drilling activity as well as a production update. Operational Update Strategic commenced its second half drilling program at Steen River in July 2013 and has drilled three new wells - two Muskeg Stack horizontal wells and one Keg River vertical well. Strategic successfully drilled [Read more]
Lone Pine Resources Announces Forbearance Agreement With Senior Lenders, Standstill Confirmation From Majority Noteholders, and NYSE Suspension of Trading and Commencement of Delisting Procedures
CALGARY, ALBERTA--(Marketwired - Sept. 11, 2013) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") (NYSE:LPR)(TSX:LPR) today announced that it has entered into a forbearance agreement (the "Forbearance Agreement") with its senior secured lenders under the credit agreement dated as of March 18, 2011, by and among Lone Pine, Lone Pine Resources Canada Ltd. ("LPR Canada"), JPMorgan Chase Bank, N.A., Toronto Branch as Administrative Agent (the "Agent") and the other agents and Lenders (as [Read more]
Southern Pacific Announces Financial and Operational Results for the Year Ended June 30, 2013 and August Operational Update
CALGARY, ALBERTA--(Marketwired - Sept. 11, 2013) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) today announced its financial and operational results for the year ended June 30, 2013 and provided an operational update for the month of August 2013. OVERALL PERFORMANCE HIGHLIGHTS Total Company production including the capitalized bitumen production from STP-McKay Phase 1 and heavy oil production from STP-Senlac was 4,254 [Read more]
Anti Keystone XL crusader stars in new TV ads aimed at stopping the pipeline
OTTAWA (Canadian Press) - The crude oil that exploded into flame in the deadly Lac-Megantic train derailment in July was as volatile as gasoline, but was documented as a less-dangerous product akin to diesel or bunker crude, the Transportation Safety Board says.Lead investigator Don Ross said tests showed the oil was initially graded properly for road transport but was inexplicably downgraded when it came time to move it by rail."When we analysed the product samples from the nine intact tank [Read more]