CALGARY - Alberta's energy regulator has recommended approval of Shell Canada's plan to expand oilsands production, even though it acknowledges the environmental impacts will likely be so severe and "irreversible" that new protected areas should be created to compensate for the damage. A 413-page report contains an extensive list of recommendations and conditions for both governments and Shell (NYSE:RDS) and contains some of the most strongly worded language yet on the industry's [Read more]
News
Athabasca on hunt for Duvernay partner
CALGARY - Athabasca Oil is looking for a joint-venture partner to help develop its land in Alberta's Duvernay shale this year, CEO Sveinung Svarte said Wednesday. The Calgary-based oil company (TSX:ATH) intends to begin a formal process to find a deal, Svarte said at the TD Securities Calgary Energy Conference. Athabasca disclosed nearly a year ago that it was in the early stages of forming a joint venture for its Hangingstone and Birch oilsands properties, though no deal has [Read more]
Crude focus of deadly railway crash, but far more chemicals transported by rail
MONTREAL - The explosive railway crash in Lac Megantic, Que., has put the focus on the growing transportation of crude oil, but far more hazardous materials, including dangerous chemical compounds, are transported near Canadian communities.Canadian railway companies shipped 86,000 carloads of petroleum products in the second quarter, up 18 per cent from last year and 62 per cent from 2011.But railways transported 154,000 carloads of chemicals during the recent period, 79 per cent more [Read more]
Quebec oil train derailment sparks criminal probe
LAC-MEGANTIC, Quebec (AP) — Quebec police are pursuing a painstaking, wide-ranging criminal investigation of the inferno ignited by the derailment of a runaway oil train that killed at least 15 people and left dozens missing in the burned-out ruins of a downtown district. Quebec police inspector Michel Forget ruled out terrorism as a cause, but said that an array of other possibilities remain under investigation, including criminal negligence. Other officials have raised the possibility that [Read more]
Oil above $105 on report of falling US stocks
The price of oil pushed above US$105 a barrel Wednesday after a report indicated that U.S. crude stockpiles fell by far more than expected last week, in a potential sign of growing demand in the world's largest economy.By early afternoon in Europe, benchmark West Texas Intermediate crude for August delivery was up $1.61 to US$105.14 a barrel in electronic trading on the New York Mercantile Exchange. Oil was trading at its highest price since early May 2012.The advance came after [Read more]
Bellatrix Exploration Ltd provides operational update
CALGARY, July 10, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to provide the following operational update. Bellatrix's corporate head offices were undamaged and its field operations remained stable and operational with only minor impacts due to flooding in southern Alberta during the second quarter of 2013. Bellatrix's field production for Q2 2013 averaged approximately 22,100 to 22,200 boe/d. Despite spring break-up and downtime [Read more]
Aroway Energy Inc. Increases Kirkpatrick Lake Production
CALGARY, ALBERTA--(Marketwired - July 10, 2013) - AROWAY ENERGY INC. (TSX VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the "Company") is pleased to report increased production at its 100% owned and operated Kirkpatrick Lake property. Aroway Energy Inc. received approval from the Alberta Energy Regulator in the form of a Special MRL (Maximum Rate Limitation) to increase production from the previously announced restricted production rate of 50 bbls per day to 240 bbls per day (40.0 m3/d/well) [Read more]
Rail delivery of U.S. oil and petroleum products continues to increase
An EIA Report With U.S. crude oil production at the highest level in two decades, outstripping pipeline capacity, the United States is relying more on railroads to move its new crude oil to refineries and storage centers. The amount of crude oil and refined petroleum products transported by rail totaled close to 356,000 carloads during the first half of 2013, up 48% from the same period in 2012, according to Association of American Railroads (AAR). U.S. weekly carloadings of crude oil and [Read more]
No rules against leaving unattended trains on main tracks: Transport Canada
OTTAWA - Transport Canada says there are no rules against leaving an unlocked, unmanned, running locomotive and its flammable cargo on a main rail line uphill from a populated centre.Officials with the federal rail regulator say they are looking at the overall safety of the rail system after the devastation wrought on the weekend by a runaway 73-car train carrying crude oil east through Quebec.The downtown of Lac-Megantic was flattened when an unattended train rolled in and exploded [Read more]
Terra Energy Closes on Sale of Remaining Montney Assets
CALGARY, ALBERTA--(Marketwired - July 9, 2013) - Terra Energy Corp. ("Terra" or the "Company") (TSX:TT) is pleased to announce that the Company has closed on the sale of the balance of its Montney assets in northeast British Columbia to Crew Energy Inc. ("Crew") for gross cash proceeds of $36 million. This is the final stage of a three part transaction with Crew involving the sale by the Company of its Montney assets in northeast British Columbia for combined gross proceeds of $78 [Read more]