By Bill Graveland CALGARY - The CEO of Enbridge Inc. said Wednesday he's willing to work with the B.C. government to allay doubts it has about the safety of the proposed $6-billion Northern Gateway pipeline.The province officially declared opposition to pipeline last week, telling a federal review panel the project shouldn't go ahead because there are too many unanswered questions about how Calgary-based Enbridge (TSX:ENB) would respond to a spill."I don't view it as a blow," [Read more]
News
CAPP sees Canadian crude oil production more than doubling by 2030
By Lauren Krugel CALGARY - A major oil and gas lobby group expects Canada's crude oil production to grow at a faster clip than previously forecast, despite uncertainty around new pipelines to bring that product to market. In its annual oil forecast, the Canadian Association of Petroleum Producers said it expects crude oil output to hit 6.7 million barrels per day by 2030, up from 3.2 million last year. That's 500,000 barrels per day more than the group called for in its 2012 [Read more]
Pinecrest Energy Inc. announces intention to commence Normal Course Issuer Bid and provides operational update
CALGARY, June 5, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest" or the "Company") announces that subject to the TSX Venture Exchange ("TSXV") approval, Pinecrest intends to commence a Normal Course Issuer Bid (the "Bid") to purchase, from time to time, as it considers advisable, up to 19,559,679 common shares (which is equal to 10% of the "public float") on the open market through the facilities of the TSXV. Cormark Securities Inc. has been engaged to conduct the Bid on behalf of Pinecrest. [Read more]
Penn West cuts dividend, staff, replaces CEO in major shakeup
CALGARY - Penn West Petroleum Ltd. (TSX:PWT) says it will be reducing staffing levels by 10 per cent, installing a new president and chief executive officer and cutting its quarterly dividend by half while it undergoes a strategic review.Investors responded by pushing up the company's stock to its highest price since hitting a 52-week low in mid-April, although it's worth about 27 per cent less than the high set last September.The Calgary-based company didn't say specifically how many [Read more]
Atlantic Region Development Plan Approved
CALGARY, ALBERTA--(Marketwired - June 5, 2013) - Husky Energy (TSX:HSE) has received regulatory approval for a development plan amendment for the South White Rose field, the third satellite extension at the White Rose field in the Atlantic Region. The approval marks the latest step in the Company's strategy to maintain stable, high-netback production from the region while laying the foundation for the next stage of growth. The original South White Rose field development plan was approved in [Read more]
Penn West announces appointment of new President and Chief Executive Officer, operational improvement and capital efficiencies drive, initiation of corporate strategic review and a change to its dividend policy
Appointment of new President and Chief Executive Officer CALGARY, June 4, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST" or "the Company") announced today that Murray Nunns, President and Chief Executive Officer, has informed the Board of Directors of his intention to retire from Penn West effective July 1, 2013 after serving the Company for more than 8 years. "Mr. Nunns has made a significant contribution to Penn West since he joined Penn West's Board in 2005," [Read more]
Shoreline Energy Corp. Commences Production From High Impact Montney Discovery, Adds 59,000 Net Acres of Land
CALGARY, ALBERTA--(Marketwired - June 5, 2013) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") has commenced production from its most recent horizontal Montney oil well on its Valhalla property, as well as the addition of 59,000 net acres of land in its Peace River Arch core area. Montney Project Update The Company announces that its second 100% working interest Montney well is now on stream, producing at between over 500 barrels of oil equivalent since [Read more]
Pine Cliff Energy Ltd. Announces $25,000,000 Marketed Common Share Offering
CALGARY, ALBERTA--(Marketwired - June 4, 2013) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES Pine Cliff Energy Ltd. ("Pine Cliff" or the "Corporation") (TSX VENTURE: PNE) is pleased to announce that it has filed and obtained a receipt for a preliminary short form prospectus (the "Preliminary Prospectus") in connection with a marketed offering of common shares in the capital of Pine Cliff ("Common Shares") for aggregate gross proceeds of approximately [Read more]
Secure Energy Services Inc. Announces Acquisition of Target Rentals Ltd.
CALGARY, ALBERTA--(Marketwired - June 4, 2013) - Secure Energy Services Inc. ("Secure" or the "Corporation") (TSX:SES) and its wholly owned subsidiary Marquis Alliance Energy Group Inc. ("Marquis Alliance"), are pleased to announce that they have entered into an agreement to acquire all of the issued and outstanding shares of Target Rentals Ltd. ("Target") for an aggregate purchase price, including assumed debt, of approximately $40.0 million, subject to certain customary closing adjustments [Read more]
Alberta First Nation loses B.C. gas sale suit
VANCOUVER - Members of an Alberta First Nation lost their bid to stop the sale of oil and gas tenure in neighbouring British Columbia, but they did win a warning from the judge that they must be consulted.A B.C. Supreme Court judge found that the Dene Tha have been properly consulted on the B.C. government's sale of exploration rights on 21 parcels of land, most for shale gas development in northeastern B.C.But in his written judgment posted on the court website today, Justice [Read more]