REGINA - Extreme cold temperatures over the weekend led to a new record for daily natural gas consumption in Saskatchewan. SaskEnergy says it set a 24-hour record on Friday of delivering 1.33 petajoules of natural gas to customers — three per cent higher than the record set in January of this year. A petajoule is a unit of measurement equivalent to one million gigajoules of natural gas and the average home in Saskatchewan uses about 105 gigajoules of natural gas a year. [Read more]
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Breaking the boom and bust: A look at how Alberta is trying to diversify economy
CALGARY - As Alberta struggles to emerge from one of its worst economic downturns, Premier Rachel Notley has been pushing to make the province less reliant on oil and the boom and bust cycle that comes with it. The government has launched various grants and incentives in an effort to lure investment from a wide range of industries. Critics have instead called for lower taxes and a delay on environmental policies as a way of stimulating the province's moribund economy. Here's a [Read more]
Ideal Completion Services To Acquire Flowback And Production Testing Assets From Cathedral Energy Services
Ideal Completions Group LLC (“Ideal” or the “Company”) is pleased to announce that it has entered into a definitive purchase and sale agreement with Cathedral Energy Services Ltd. (“Cathedral”) for the acquisition of all of Cathedral’s flowback and production testing assets in Canada and the United States. The acquisition will be fully funded by management and ENR Partners LP, which is an affiliate of Edge Natural Resources LLC (“Edge”), a Dallas-based private equity firm focused on small-cap [Read more]
Read Koch Oil Sands Operating letter to AER requesting cancellation of SAGD project due to regulations and carbon tax
Koch Oil Sands Operating (KOSO) sent a letter to the AER on Wednesday, asking the regulator to cancel its Muskwa SAGD project due to serious concerns in relation to government policy which has deteriorated the economic opportunities of the project. KOSO cites regulations and carbon taxation as the main reasons it will not go ahead with the development. Read the letter below: Attention: In-Situ Applications & EPEA Applications Departments RE: Cancellation of Muskwa SAGD Project Koch [Read more]
Questfire Energy Corp. Announces Credit Facility Amendment to May 31, 2017
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2016) - Questfire Energy Corp. (the "Corporation" or "Questfire") (TSX VENTURE:Q.A) is pleased to announce that the Corporation and its syndicate of lenders have agreed to amend the terms of its bank facility, with such amended bank facility to have the following material provisions: a revised maturity date to May 31, 2017; the revised borrowing base consisting of: (1) a $5 million operating facility; (2) a $23 million syndicated facility; and [Read more]
AltaGas and Government of Alberta Reach Definitive Agreement to Settle Power Purchase Arrangement Dispute
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2016) - AltaGas Pipeline Partnership ("AltaGas") (TSX:ALA) and the Government of Alberta ("GOA") reached a definitive Settlement Agreement today regarding the termination of the Sundance B Unit 3 and Sundance B Unit 4 Power Purchase Arrangements ("Sundance B PPAs") previously held by ASTC Power Partnership, a partnership between TransCanada Energy Ltd and AltaGas. Under the Settlement Agreement, AltaGas has agreed to contribute 391,879 self-generated [Read more]
Blackbird Energy Inc. Announces Release of First Quarter 2017 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2016) - Blackbird Energy Inc. ("Blackbird") (TSX VENTURE:BBI) is pleased to announce that it has released its first quarter 2017 financial and operating results. Blackbird's unaudited condensed consolidated interim financial statements and management's discussion and analysis for the quarter ended October 31, 2016 are available on SEDAR at www.sedar.com and are also posted on Blackbird's website at www.blackbirdenergyinc.com. About Blackbird Blackbird [Read more]
US Energy Industry Launches First Of Its Kind Social Media Blitz Against Anti-Oil Activists
The United States nergy industry kick-started a social media campaign Thursday targeting claims that fossil fuel investments are morally evil and should be purged from all college campuses. The Independent Petroleum Association of America’s forum at the University of Denver marked the beginning of a national social media campaign against 350.org, an activist group focused on fossil fuel divestment issues founded by environmentalist Bill McKibben. The campaign is aimed at using a viral [Read more]
Groundstar Resources Limited Announces Closing of Flow-Through Financing and Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2016) - Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") is pleased to announce that it has closed the initial tranche of it's offering of common shares in the capital of the Company being issued on a "flow-through" basis within the meaning of the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.02 per Flow-Through Share by way of a non-brokered private placement (the "Closing"). The Company issued a total of 5.875 [Read more]
Canadian Natural Resources Limited Completes the Sale of Its Ownership Interest in the Cold Lake Pipeline
CALGARY, ALBERTA--(Marketwired - Dec. 16, 2016) - Canadian Natural Resources Limited ("Canadian Natural" or the "Company") (TSX:CNQ) (NYSE:CNQ) announces that the agreement relating to monetizing the Company's non-core ownership interest in the Cold Lake Pipeline, to Inter Pipeline Ltd ("Inter Pipeline") has been completed. Canadian Natural received gross proceeds of $350 million in cash and 6,417,740 common shares of Inter Pipeline at an ascribed value of $177.5 million (approximately $186.6 [Read more]