CALGARY - After nearly a decade since the last major oil pipeline was built, and with existing ones brimming with crude, Canada's energy industry is wondering when and if any new lifelines to foreign markets will go into the ground. Those concerns were heightened last week after Kinder Morgan effectively put its Trans Mountain expansion project on hold until it can be assured British Columbia won't continue trying to block the pipeline. A crucial meeting in Ottawa this weekend between [Read more]
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Trudeau sidesteps talk of imminent NAFTA deal, prepares to tackle pipeline crisis
LIMA, Peru - Prime Minister Justin Trudeau will return to Ottawa on Sunday following a three-day trip to Peru hoping to calm tempers and find a peaceful resolution to the Trans Mountain pipeline crisis that has pitted Alberta and B.C. against each other. The prime minister is scheduled to sit down with Alberta Premier Rachel Notley and B.C. Premier John Horgan on Parliament Hill, marking the first time the three will be in the same room together to discuss the pipeline since Horgan threatened [Read more]
B.C. issues Trans Mountain pipeline permit update as premier heads to Ottawa
VICTORIA - British Columbia's government has issued a progress report on permits for the Trans Mountain pipeline expansion, just as Premier John Horgan readies to travel to Ottawa for a meeting on the controversial project. The Energy, Mines and Petroleum Resources Ministry says the $7.4-billion project requires 1,187 provincial permits, many of which involve Indigenous consultations. The ministry says in a statement that 587 permit applications have been submitted to various permitting [Read more]
Marksmen Announces Increase, First Closing and Extension of Private Placement and Operational Update
CALGARY, Alberta, April 13, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSXV:MAH) (OTCQB:MKSEF) announces that it has completed the first closing of its previously announced non-brokered private placement. The Company issued 2,026,981 units (the “Units”) of Marksmen at a price of $0.21 per Unit for aggregate gross proceeds of $425,666 (the “Offering”). Each Unit is comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase [Read more]
Canada increases oil exports, finding buyers in the U.S. despite shale oil boom
CALGARY - The National Energy Board says Canadian oil exports rose by 6.5 per cent last year to 3.3 million barrels per day despite an increase in light shale oil production in the United States, Canada's biggest customer and competitor. The federal regulator says heavy crude made up 77 per cent or 2.5 million bpd of Canadian exports, continuing a trend that has resulted in such exports rising by 48 per cent over the past five years as new oilsands projects come on stream in Alberta. Light [Read more]
Feds have options to cut risk for Trans Mountain pipeline investors, says Carr
OTTAWA - Natural Resources Minister Jim Carr says Canada is considering several ways to reduce the financial risk for Kinder Morgan investors spooked by the uncertainty plaguing the planned Trans Mountain pipeline expansion. Carr says the government is still examining its options, but won't commit to a course of action before Sunday, when Prime Minister Justin Trudeau is to meet with the premiers of British Columbia and Alberta. Ottawa's options include buying a stake in the pipeline to [Read more]
Cation Capital: Crescent Point is a Broken Company – Shareholders, this is Your Opportunity to Fix It
CALGARY, Alberta--(BUSINESS WIRE)--Cation Capital Inc. (together with its affiliates and associates, “Cation Capital” or “Cation”), a private investment firm, today issued the following statement to shareholders of Crescent Point Energy Corp (TSX/NYSE: CPG) (“Crescent Point”) in connection with Crescent Point’s 2018 Annual General Meeting of Shareholders to be held on May 4, 2018. Shareholders of record as of March 22, 2018, are entitled to vote at this meeting. Sandy L. Edmonstone, President [Read more]
U.S. drillers add oil rigs for second consecutive week
U.S. energy companies added oil rigs for a second week in a row as energy firms follow through on plans to spend more on drilling this year with crude prices at three-year highs. Drillers added seven oil rigs in the week to April 13,bringing the total count to 815, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much higher than a year ago [Read more]
Enbridge President of Gas Distribution and Power shares her insight on Safety Culture at Calgary Operational Excellence Summit
Cynthia Hansen, President of Gas Distribution and Power at Enbridge Gas Distribution, will be joining the list of 40+ keynote speakers at the upcoming Operational Excellence in Energy, Chemicals & Resources Summit, taking place in Calgary this June. Cynthia will discuss how oil and gas companies can enable safe and reliable operations during times of volatility and how to create the business case for improved operational discipline. Over 250 Operations, HSE, OE, Maintenance and [Read more]
Razor Energy Corp. Announces Fourth Quarter and 2017 Year End Results
CALGARY, Alberta, April 13, 2018 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV:RZE) (www.razor-energy.com) is pleased to announce its fourth quarter 2017 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s audited consolidated financial statements and management’s discussion and analysis for the year ended December 31, 2017, which are available on SEDAR at www.sedar.com and the [Read more]