TERRACE, B.C. - There is a growing imbalance between oil supply and delivery in Canada and a spokesman for the Canadian Association of Petroleum Producers says doing nothing is not an option.The association's lawyer, Keith Bergner, told the review panel weighing the Northern Gateway oil pipeline in Terrace, B.C., that producers are finding themselves with product on their hands and no way to ship it to buyers.Bergner says more pipeline capacity is needed and he urged the panel to [Read more]
News
Ottawa raising offshore liability cap to $1 billion in Arctic, Atlantic waters
HALIFAX - The Canadian government is planning to introduce new rules to make drilling and production companies more accountable in the event of offshore spills.Federal Natural Resources Minister Joe Oliver, speaking at a news conference Tuesday in Halifax, said Ottawa will introduce legislation this fall to raise the liability cap for companies operating in Atlantic Canada's offshore to $1 billion, up from the current $30 million. The liability cap in the Arctic would also increase to [Read more]
Essential Energy Services Announces Addition to Its Board of Directors
CALGARY, ALBERTA--(Marketwired - June 18, 2013) - Essential Energy Services Ltd. (TSX:ESN) ("Essential") is pleased to announce Robert B. Michaleski has joined the Board of Directors. Mr. Michaleski is the Chief Executive Officer and a member of the board of directors of Pembina Pipeline Corporation ("Pembina"), a position he has held since 2000. Pembina is a multi-billion dollar Canadian, TSX listed, energy transportation and service provider. Mr. Michaleski has been with Pembina in various [Read more]
Manitok Energy Inc. Announces Intention to Commence A Normal Course Issuer Bid
CALGARY, ALBERTA--(Marketwired - June 18, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) announces that, subject to TSX Venture Exchange (the "Exchange") acceptance, it intends to conduct a normal course issuer bid (the "Bid") to purchase for cancellation up to 6.5 million common shares in the capital of Manitok ("Common Shares"), representing 10% of its [Read more]
Enbridge backers Cenovus, Suncor to make their case for Northern Gateway
TERRACE, B.C. - The panel weighing the future of the Northern Gateway pipeline will hear today from industry players who support the project.The Canadian Association of Petroleum Producers and Enbridge's (TSX:ENB) partners in the project, including Cenovus (TSX:CVE) and Suncor Energy, are scheduled to make their final arguments to the federal panel hearing in Terrace, B.C.A B.C. government lawyer addressed the panel on Monday, saying the project should not be approved as [Read more]
Northern Gateway is in interest of all Canadians, company tells review board
CALGARY - The Conference Board of Canada says uncertainty over new pipeline projects poses a threat to Canadian companies that provide services to oil and gas producers.The Ottawa-based think-tank predicts the sector's real economic output this year will drop slightly by $60 million, or half a per cent, to $11.55 billion.It says some of that is due to a lingering weakness in natural gas prices and a levelling off in conventional oil drilling, but there's another big challenge looming [Read more]
Altima Announces Completion of Multiple Fracture Stimulation at 14-35-41-11 W5M Well in Chambers, Alberta
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 17, 2013) - Altima Resources Ltd. (TSX VENTURE:ARH)(PINKSHEETS:ARSLF)(FRANKFURT:AKC) announces regarding operations on the Altima Chambers 14-35-41-11 W5M well (refer to News Releases dated May 16, 2013), that fracture stimulation operations were completed on June 16, 2013. Completion operations, which commenced on May 12th, were curtailed over the period May 24th through June 11th due to weather conditions. The Company will now proceed with [Read more]
Spyglass Resources Corp. Announces June 2013 Monthly Cash Dividend, Updates Drilling Activity and Provides Risk Management Update
CALGARY, ALBERTA--(Marketwired - June 17, 2013) - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL) announces that the board of directors (the "Board") has approved the June 2013 monthly cash dividend of $0.0225 per share payable on July 15, 2013 to shareholders of record on June 27, 2013. The ex-dividend date will be June 25, 2013. The dividend policy of Spyglass is at the discretion of the Board and will be reviewed monthly in the context of a number of factors including [Read more]
Report: Pipe pinch threatens services sector
CALGARY - The Conference Board of Canada says uncertainty over new pipeline projects poses a threat to Canadian companies that provide services to oil and gas producers.The Ottawa-based think-tank predicts the sector's real economic output this year will drop slightly by $60 million, or half a per cent, to $11.55 billion.It says some of that is due to a lingering weakness in natural gas prices and a levelling off in conventional oil drilling.But the board says the "bigger threat" is [Read more]
Shell celebrates 10 years of oil sands operations
CALGARY, June 17, 2013 /CNW/ - Shell announced today 10 years of oil sands production as operator of the Athabasca Oil Sands Project (AOSP). Starting with just a handful of employees, over the last 10 years Shell has built an oil sands mining and upgrading business capable of delivering over a quarter of a million barrels per day, providing 17% of Canada's total oil production, and employing over 3,000 staff and thousands of contractors. Since production began in 2003, the Athabasca Oil Sands [Read more]