CALGARY - Angry protesters demanding that Canada build new pipelines interrupted speeches by Calgary's mayor and councillors at a downtown rally on Monday. City council had passed a resolution declaring its support for the oil and gas industry as well as calling for solutions to a low oil price crisis blamed on a lack of pipeline export capacity. But loud boos rose from the protesters at any mention of Quebec or free trade. Rally organizer Cody Battershill of Canada [Read more]
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CIBC shrinks event after Whistler tries to bill oil firm for climate change
WHISTLER, B.C. - The ski resort town of Whistler, B.C., is learning that getting involved in the fight between environmentalists and oil companies can result in negative consequences. Part of CIBC's annual investment conference to be held in the community next month has been scrapped after the town council took part in a letter-writing campaign demanding oil companies compensate it for its costs related to climate change. After Whistler sent a letter to Calgary-based oilsands [Read more]
Athabasca Minerals Inc. Acquires 49.2% Interest in the Montney In-Basin Frac Sand Project
Montney In-Basin Sand Resource serving NW Alberta / NE British Columbia Liquefied Natural Gas (“LNG”) Development December 17, 2018 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“Athabasca” or the “Corporation”) (TSX Venture: ABM) has purchased 49.2% ownership of a private Alberta corporation (“Privco”) that owns the Montney In-Basin frac sand project (“MIB Project”) located in the vicinity of Dawson Creek and Fort St John. The MIB Project broadens the strategic growth and advancement of the [Read more]
Cequence Energy Announces Confirmation of Its Credit Facility Borrowing Base, the Purchase of Its $60 Million Term Loan and Provides Operational Update
CALGARY, Alberta, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce that its senior lender has completed a redetermination of the borrowing base under the Company’s senior secured credit facility (the “Credit Facility”), and has confirmed the borrowing base remains at $7 million. Other than outstanding letters of credit totalling approximately $1.5 million, the Company currently has no amounts drawn under the Credit [Read more]
Enbridge Inc. and Spectra Energy Partners, LP Complete Merger
CALGARY and HOUSTON, Dec. 17, 2018 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge), on behalf of itself and certain of its wholly owned U.S. subsidiaries, and Spectra Energy Partners, LP (NYSE: SEP) (SEP) today announced that they have completed the previously announced merger (the Merger) pursuant to an Agreement and Plan of Merger dated as of August 24, 2018 (the Merger Agreement). The Merger resulted in Enbridge (through a wholly owned subsidiary) acquiring all of the outstanding [Read more]
Baytex Announces 2019 Budget
CALGARY, Alberta, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announces that its Board of Directors has approved a 2019 capital budget of $550 to $650 million, which is designed to generate average annual production of 93,000 to 97,000 boe/d. Commenting on the announcement, Ed LaFehr, President and Chief Executive Officer, said: “As we enter 2019, our top priority is disciplined capital allocation across our strong portfolio of assets. We will focus [Read more]
Obsidian Energy Announces an Increase in its Syndicated Credit Facility and Provides an Operational Update
CALGARY, Dec. 17, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that its semi-annual borrowing base redetermination has resulted in a $30 million increase to its syndicated credit facility to $470 million. Additionally, Obsidian Energy provides an update on our latest Cardium drilling activity. Increased Syndicated Credit Facility The Company has a reserve-based syndicated credit facility, with an underlying [Read more]
Painted Pony Announces Fully-Funded 2019 Capital Budget
CALGARY, Dec. 17, 2018 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) announces a 2019 capital program focused on preserving financial flexibility and maintaining capital discipline. The Corporation's ongoing risk management program, which includes hedging using both financial and physical contracts, combined with diversified transportation arrangements allows Painted Pony to optimize the 2019 capital program which will be fully funded by internally generated [Read more]
Pipelines in 2018: A Hot Topic
From delays in pipeline project approvals to oil pricing impacts stemming from pipeline capacity constraints – to say pipelines have been in the news this year would be an understatement. And with those headlines, we are seeing more and more Canadians engaging in conversations about where our energy comes from, how it is transported, what we use it for and what the future of energy in Canada looks like. As we reflect on the year, the Canadian Energy Pipeline Association (CEPA) wanted to [Read more]
Coming To Canada’s Energy Capital, Calgary In February 2019: North America’s Only Well Site Facilities Onshore Congress
Encana, Caltex, AER, Govt. of Canada & MELA Open The Speaker Line-Up After months of research with the full spectrum of unconventional operators and leading service providers in Western Canada, American & Canadian Business Conferences long-running Well Site Facilities Onshore conference comes to Calgary in February, with a program designed to deliver practical, real-world insight on the region’s greatest facilities design and engineering challenges. There has been a significant [Read more]