CALGARY, Alberta, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has entered into an agreement to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger for cash proceeds of $1.3 billion. The sale is expected to close in the fourth quarter of this year, subject to customary closing conditions. As with other recently announced divestiture agreements, proceeds from the Palliser sale will be used to deleverage the [Read more]
Headlines
E3 Metals Assay Results Confirm Leduc Reef Trend Enriched in Lithium Across a Broader Area Than Originally Tested
Vancouver, BC – October 19, 2017 – E3 METALS CORP. (TSX-V: ETMC, FSE: OU7A, OTC: EEMMF) (the “Company”, “E3” or “E3 Metals”) is pleased to announce that results from the first round of lithium sampling have confirmed historical data ranging from 29.1 mg/L to 84.8 mg/L at actively producing oil and gas wells across a portion of the Company’s Petro-Lithium Project in Alberta. E3 Metals’ sampling program has been completed without the requirement for drilling a well, taking advantage of the [Read more]
Kinder Morgan Canada says Trans Mountain activity slowed by permits
CALGARY - Kinder Morgan Canada Ltd. (TSX:KML) said Wednesday that it's already facing potentially months of delay on the Trans Mountain pipeline expansion project because of the timing of permits and regulatory approvals. "If you just took the delays experienced to date, and just flowed that through the schedule, we believe that results in a nine-month delay," said CEO Steve Kean during a conference call following the company's third-quarter earnings release. He said, however, [Read more]
Pengrowth Announces the Sale of Non-Core Alberta Assets
CALGARY, ALBERTA--(Marketwired - Oct. 18, 2017) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announces that it has entered into an agreement for the sale of the vast majority of its remaining non-core legacy assets in Alberta for nominal cash consideration and the assumption of abandonment and reclamation liabilities. The sales package encompasses a collection of widely dispersed, mature legacy assets from 36 properties and over 270 facilities and 1,600 wellbores. The combined [Read more]
Inter Pipeline’s Mid Saskatchewan pipeline loses power due to storms
Inter Pipeline Ltd's 82,000 barrel per day Mid Saskatchewan crude oil pipeline has lost power following stormy weather in western Canada, a company spokeswoman said on Wednesday. The regional gathering pipeline delivers light and heavy crude into Kerrobert, Saskatchewan. "We do not know the length of this particular outage, it is based on the power outage and the weather over the last 24 hours," Inter Pipeline spokeswoman Breanne Oliver said. Fierce windstorms across much of [Read more]
Energy East’s demise could spell electoral trouble for Liberals in NB
OTTAWA - Natural Resources Minister Jim Carr says the federal cabinet was never going to include downstream emissions as a factor when it reviewed the application for the now defunct Energy East pipeline. In a bid to stem political fallout from Energy East's demise, Carr is on a mission to convince Canadians his government's policies are not to blame for it. But a new research report suggests the project is just part of a trend of energy investment going elsewhere because of the [Read more]
Industry may face new costs over methane cuts after high emissions reading
EDMONTON - Canada's energy producers say they remain committed to targeted cuts of a potent greenhouse gas, even after a study suggesting those reductions may have to be much larger than previously thought. But Patrick McDonald of the Canadian Association of Petroleum Producers said additional cuts will come on top of costs already estimated in the billions of dollars and "flexibility" from federal and provincial governments will be needed. "If the methane emissions are higher [Read more]
Encana to update five-year plan during Investor Day; company expects to deliver leading corporate returns, strong cash flow growth and substantial free cash flow
CALGARY, Alberta, Oct. 18, 2017 (GLOBE NEWSWIRE) -- (TSX:ECA) (NYSE:ECA) At today’s Investor Day in New York City, Encana President & CEO Doug Suttles, along with members of the executive and management teams, will outline the company’s relentless focus on creating value and its updated five-year plan. “Successful execution of our strategy and strong performance through 2017 has set the stage for the next five years,” said Suttles. “We have created a highly resilient business that is [Read more]
Tangle Creek Energy Ltd. Announces Closing of Transformational Acquisition
CALGARY, Oct. 17, 2017 /CNW/ - Tangle Creek Energy Ltd. ("Tangle Creek") is pleased to announce it has closed an acquisition of assets primarily in the Waskahigan and Kaybob areas of Alberta. Included in the acquisition is approximately 2,500 boe/d of production (35% light oil), half of which is from the Waskahigan property (60% light oil) where Tangle Creek will focus future development activities. The acquisition increases Tangle Creek's current production to over 8,000 boe/d (55% [Read more]
Trudeau, Notley said yes to pipelines, while really meaning no
While telling people that they understand the importance of the pipelines, Notley and Trudeau piled up the regulatory bricks to ensure they were not viable TransCanada’s withdrawal of its proposal to build the Energy East and Eastern Mainline oil pipelines is a huge loss to Canada and Canadian workers – a $16 billion project regulated to death. Let’s get the red herring out of the way up front. Yes, the low world price of oil was surely part of this decision, but it’s certainly not all of [Read more]