VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2016) - Mark Jarvis, CEO of Shoal Point Energy (CSE:SHP), today responded to the final report of the Newfoundland and Labrador Hydraulic Fracturing Review Panel, released May 31. "The report concludes that many years of study, development of new government policies and research are required before hydraulic fracturing can be used, if ever, in the province of Newfoundland and Labrador," said Mr. Jarvis. "We find the conclusion puzzling, because [Read more]
Headlines
TransCanada files first part of Energy East impact study with Quebec
MONTREAL - TransCanada says a draft impact study for its Energy East pipeline project has been submitted as requested by the Quebec government.The 10-chapter document wasn't released publicly, but an analysis of technological risks will be added once it is completed, the company said Monday.The Calgary-based company said the submission meets the requirements of the provincial department of sustainable development, environment and the fight against climate change.Quebec government officials [Read more]
Oilsands giant Syncrude loses court fight against rules on renewable diesel
OTTAWA - Syncrude has lost its court battle against federal rules on renewable diesel in a case that some suggest could have handcuffed national efforts to fight climate change.The oilsands company, of which Suncor owns the majority, had argued that it was unconstitutional for Ottawa to require that at least two per cent of diesel fuel be from renewable sources such as ethanol. That demand interfered with provincial jurisdiction over resources by changing markets for non-renewables, Syncrude [Read more]
RockBridge Resources Inc. Company Update
TSX Venture Exchange: RBE VANCOUVER, June 6, 2016 /CNW/ - RockBridge Resources Inc. ("RockBridge" or the "Company" – TSXV symbol: RBE) currently carries on its business with its non-operated producing oil and gas assets, being the majority of the Company's production, being owned by RockBridge, the public company. Its Alberta subsidiary, RockBridge Energy Alberta Inc. (RockBridge Alberta) owns all the operated assets including a number of abandoned wells. RockBridge has agreed to sell [Read more]
AltaGas Ltd. Announces Closing of $440 Million Common Share Offering
CALGARY, ALBERTA--(Marketwired - June 6, 2016) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that it has completed its previously announced public offering of 14,685,000 Common Shares (the "Common Shares"), on a bought deal basis, at an issue price of $30.00 per Common Share (the "Offering Price"), for total gross proceeds of approximately $440 million (the "Offering"). The offering is comprised of the previously announced offering of 13,350,000 Common Shares at the Offering Price for [Read more]
Decline in spending on offshore oil projects in Newfoundland hitting East Coast
HALIFAX - An economic think tank says overall spending on major projects on the East Coast is expected to fall overall in 2016 by about two per cent compared to the year before.The Atlantic Provinces Economic Council says investment will be down to $12.8 billion, due in part to a decrease in Newfoundland and Labrador's offshore oil projects and despite higher-than-expected spending on the Muskrat Falls hydroelectricity project in Labrador.The council says Newfoundland and Labrador is being hit [Read more]
Devon Energy Announces Additional $1 Billion of Upstream Asset Sales
OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corp. (NYSE: DVN) announced today it has entered into definitive agreements with undisclosed parties to monetize nearly $1 billion of non-core upstream assets in east Texas, the Anadarko Basin and an overriding royalty interest in the northern Midland Basin. These transactions are subject to customary terms and conditions and are expected to close in the third quarter of 2016. The Company expects to incur minimal taxes associated with these [Read more]
BOE Report Seeks Feedback
The BOE Report recently announced a significant traffic milestone: surpassing 1 million annual unique users. While thankful to all of our contributors, sponsors, and our loyal audience, the team behind the BOE Report is still looking for ways to better our service and grow our audience. That being said, we are looking for feedback on how we can improve the overall website. Please answer 10 short survey questions below that will help us understand how we can improve. Thank you! [Read more]
Husky asset sales point to uneven growth in energy mergers, acquisitions
CALGARY - A two-tier marketplace is developing for western Canadian oil and gas properties, with bidders starting to line up to buy crude-producing properties — although companies marketing natural gas wells are finding few takers.Volatility in oil and gas prices over the past year have scared many buyers out of the market while making valuations difficult for buyers and sellers to agree upon, observers say.Benchmark West Texas Intermediate oil rose above US$50 per barrel recently, the highest [Read more]
Imperial’s Kearl operations return to normal, monitoring remains in place
CALGARY, June 3, 2016 /CNW/ - Imperial today announced the safe return to normal operations at the Kearl oil sands site. The company will continue to closely monitor developments with the fires in the Regional Municipality of Wood Buffalo. The safety of our employees remains our top priority. Kearl's physical plant was not damaged by the fires, and air quality monitoring remains in place. After more than a century, Imperial continues to be an industry leader in applying technology and [Read more]