EDMONTON - Alberta Premier Rachel Notley says the province will not support Ottawa's climate change plan unless the federal government makes progress on new oil pipelines to Canada's coasts. Prime Minister Justin Trudeau announced a national "floor price" on carbon Monday as he kicked off debate in the House of Commons over whether Canada should ratify the Paris accord on climate change. Notley immediately issued a statement saying her government supports a common carbon price. [Read more]
Headlines
Fitch: OPEC Cuts Might Have Biggest Impact in North America
NEW YORK & CHICAGO--(BUSINESS WIRE)--OPEC's latest announcement may end up having the biggest regional impact in the US, given the high sensitivity the shale sector has to oil prices and any subsequent changes in oil pricing, according to Fitch Ratings. We believe that the recently announced oil production targets of 32.5m-33.0m b/d at a meeting last week in Algiers are largely symbolic and unlikely to result in a strong rebound in global oil prices. However, it remains the case that the [Read more]
Progress Energy announces senior management leadership changes
CALGARY, Oct. 3, 2016 /CNW/ - Mr. Anuar Taib, EVP and CEO PETRONAS Upstream and Chairman of the Board of both Progress Energy Canada Ltd. (PECL) and Pacific NorthWest LNG (PNW LNG) announced that Mr. Michael Culbert will step down from his day-to-day responsibilities as President and CEO of PECL effective October 31, 2016 as he begins to transition into retirement. Mr. Culbert will continue to serve as a Director on the Boards of both PECL and PNW LNG, and has been appointed to the [Read more]
Stop protesting and be thankful: cheap energy has brought us pretty much everything, including the capacity for green energy
It's Thanksgiving season in Canada, and soon in the US, and it’s time to show some gratitude. It's time to reflect on how we live, all the things we are able to do, and how that all happens. This isn’t just about energy, it’s about effort and building and creating. And it’s about recognizing that we owe respect to those that provide so much of what we take for granted. Examples are not hard to find, both economic and not. Someone somewhere spends his time writing a song that may lift the mood [Read more]
Mooncor Oil & Gas Corp.: Corporate Update
TORONTO, ONTARIO--(Marketwired - Oct. 3, 2016) - Mooncor Oil & Gas Corp. ("Mooncor" and the "Corporation") (TSX VENTURE:MOO) said today that it is not aware of any material event that would cause today's unusual trading volume. The Corporation would also like to provide a corporate update. Mooncor's wholly owned subsidiary, Primary Petroleum Company USA, Inc., has been approached back in November of 2015, by an arm's length party from the United States pertaining to the Corporation's [Read more]
Virginia Hills Oil Corp. announces successful drilling results in its Red Earth Slave Point light oil play and operations update
TSX Venture Exchange: VHO - CALGARY, Oct. 3, 2016 /CNW/ - Virginia Hills Oil Corp. ("Virginia Hills" or the "Company") is pleased to announce that it has successfully drilled, completed and equipped its 02/16-27-086-09W5 (100% working interest) horizontal light oil well in the Slave Point light oil play late in the third quarter of 2016 under budget and average timeframes. 02/16-27-086-09W5 Record Drilling Results Virginia Hills drilled and cased its 100% working interest 02/16-27-086-09W5 [Read more]
Perpetual Energy Inc. Announces Closing of Strategic Disposition of Eastern Alberta Shallow Gas Properties
CALGARY, Oct. 3, 2016 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce that it has closed the previously disclosed strategic disposition of certain of its mature shallow gas properties in east central and northeast Alberta (the "Shallow Gas Properties"). Macquarie Capital Markets Canada Ltd. acted as financial advisor to the Corporation with respect to the transaction. Pursuant to the transaction, Perpetual will materially [Read more]
GMP completes acquisition of FirstEnergy Capital
Optimally positioned as a premier franchise in the independent brokerage space GMP's combined energy businesses will operate under the GMP FirstEnergy brand GMP expands its Executive Committee TORONTO, Oct. 3, 2016 /CNW/ - GMP Capital Inc. (GMP) (TSX: GMP) announced today that it has completed the previously announced acquisition of FirstEnergy Capital Corp. (FirstEnergy), an industry leader in the global energy sector with nearly a quarter century of transactional expertise. The [Read more]
Penn West Offers to Prepay $448 Million of Senior Notes at Par
CALGARY, Oct. 3, 2016 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("Penn West", "we", "us" or "our") announces that it has offered $448 million of cash on hand to its senior noteholders to prepay amounts owing to them at par and on a pro rata basis. The total principal amount of the senior notes currently outstanding is approximately $576 million prior to the prepayment offer. We expect to complete the prepayment process prior to releasing our third quarter financial and operating [Read more]
Lawmakers Sign Fact-Free Letter Urging Obama To Stop Dakota Pipeline
Nearly 20 members of Congress sent a letter riddled with various factual errors to the White House Thursday pressuring the Obama administration to put a permanent stop to a hotly contested oil pipeline in North Dakota. The letter was co-signed by 19 lawmakers and directly calls on President Barack Obama to withdraw federal permits for the Dakota Access Pipeline “like you did with the rejection of the Keystone Pipeline.” It was signed by the likes of Democrats Rep. Raúl Grijalva of Arizona, Rep. [Read more]