CALGARY, Alberta July 11, 2013 /CNW/ - Cenovus Energy has published its 2012 corporate responsibility report detailing the company's efforts to protect the health and safety of its workers, safeguard the environment, invest in and engage with local communities and maintain the highest standards of corporate governance and transparency. "We're committed to developing our energy resources in a responsible and environmentally-conscious way," said Jim Campbell, Cenovus Vice-President of [Read more]
News
STUDY: Distant earthquakes can affect oil, gas fields
LOS ANGELES (AP) -- The powerful earthquake that rocked Japan in 2011 set off tremors around a West Texas oil field, according to new research that suggests oil and gas drilling operations may make fault zones sensitive to shock waves from distant big quakes. It's long been known that large quakes can trigger minor jolts thousands of miles from the epicenter. Volcanically active spots like Yellowstone National Park often experience shaking after a large distant event. Less is known about [Read more]
Moody’s: Quebec train disaster to raise costs for shipping oil by rail
CALGARY - Credit rating agency Moody's says it expects the deadly train disaster in Lac-Megantic, Que., to make shipping oil by rail more costly, putting pressure on both major railroads and oil producers.Moody's says the disaster will inevitably lead to increased scrutiny and result in regulatory delays from Canadian and U.S. governments.That's expected to increase capital and operating costs for rail companies — as has been the case in the past.Crude producers in North Dakota's [Read more]
Independent tests say oily sheen on Alberta river likely from ALGAE
FORT CHIPEWYAN, Alta. - Lab tests say a mysterious oily sheen that has covered a long stretch of the Athabasca River in northeastern Alberta is most likely from algae.Consultants hired by the Athabasca Chipewyan First Nation say the algae bloom is probably the result of high water from record-breaking rainfall combined with unusually warm temperatures.The scientists say dead fish floating on the river probably died as a result of oxygen starvation from the out-of-control algae [Read more]
Victory Nickel Set to Begin Development of Seven Persons Frac Sand Plant
TORONTO, ONTARIO--(Marketwired - July 11, 2013) - Victory Nickel Inc. ("Victory Nickel" or the "Company") (TSX:NI) (www.victorynickel.ca) today announced that the required approval from the Alberta Energy Regulator ("AER," the successor to the Energy Resources Conservation Board) - has been received. The AER approval allows development of the 400,000 ton per annum ("tpa") Seven Persons frac sand processing facility just southwest of Medicine Hat, Alberta (the "7P Facility"). AER approval [Read more]
Oil pulls back after IEA report sees supplies exceeding demand in 2014
By Pablo Gorondi - THE ASSOCIATED PRESS The price of oil fell back below $106 a barrel Thursday after a report from the International Energy Agency said oil supplies would exceed the expected rise demand in 2014, partly on the back of growing production in North America. By early afternoon in Europe, benchmark crude for August delivery was down $1.06 to $105.46 in electronic trading on the New York Mercantile Exchange. Earlier in the session, the Nymex contract peaked at $107.45. The last [Read more]
Strategic Oil & Gas Ltd. Announces Material Growth in Reserves and Muskeg Stack Resource Recognition
CALGARY, ALBERTA--(Marketwired - July 10, 2013) - STRATEGIC OIL & GAS LTD. (TSX VENTURE:SOG) ("Strategic" or the "Company") is pleased to announce the results of a full reserves evaluation of Strategic's assets and a resource assessment of the Muskeg Stack on a portion of the Company's assets at Steen River, as of June 1, 2013, prepared by the Company's independent reserve engineering firm, McDaniel & Associates Consultants Ltd. ("McDaniel"). The reports show continued corporate reserves growth [Read more]
Anderson Energy Ltd. Confirms Extension of Credit Facility
CALGARY, ALBERTA--(Marketwired - July 11, 2013) - Anderson Energy Ltd. ("Anderson" or the "Company") (TSX:AXL) confirms that pursuant to the recent borrowing base review of its existing credit facilities, the borrowing base was confirmed at the current level of $65 million. The maturity date of the credit facilities was extended to September 30, 2013 as the Company continues its process to identify, examine and consider a range of strategic alternatives with a view to enhancing shareholder [Read more]
Head of rail company visits grieving Quebec town
LAC-MEGANTIC, Quebec (AP) -- The head of the rail company whose runaway oil train set off a fiery explosion that left at least 15 people dead and incinerated 30 buildings was visiting the shell-shocked town in Quebec on Wednesday, as officials upped the number of missing to 45. Edward Burkhardt, president and CEO of the railway's parent company, Rail World Inc., was expected a day after police announced they were pursuing a painstaking, wide-ranging criminal investigation of the inferno [Read more]
Shell to spend $115 million on pollution control
HOUSTON (AP) -- Shell Oil has agreed to spend at least $115 million to cut harmful pollution at a Houston-area refinery. The oil giant will also pay a $2.6 million civil penalty under the settlement announced Wednesday. Shell settled with the U.S. Environmental Protection Agency and the Department of Justice after it was accused of violating the federal Clean Air Act. Shell will install a $1 million system to monitor cancer-causing benzene levels along the fence line of its Deer Park [Read more]