HOUSTON - The number of rigs exploring for oil and natural gas in the U.S. rose by four this week to 408, the first gain in months and halting a slide that pushed the count to record-low levels amid collapsed energy prices.A year ago, 868 rigs were active.Houston oilfield services company Baker Hughes Inc. said Friday 325 rigs sought oil and 82 explored for natural gas. One was listed as miscellaneous.Among major oil- and gas-producing states, Texas and Alaska each gained three rigs. New Mexico [Read more]
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Key dates in 2016 for the federal government’s energy policy decisions
OTTAWA - A timeline of important dates in the federal government's 2016 energy and climate policy making:Jan. 27 — Natural Resources Minister Jim Carr and Environment Minister Catherine McKenna announce a new, interim policy for major resource project approvals that includes assessing upstream GHG emissions and wider consultations with indigenous peoples.March 3 — First ministers agree in Vancouver to set up four working groups on climate policy that will report back by September on policy [Read more]
Fall 2016 shapes up as decision time for feds to rule on long-term energy policy
OTTAWA - Natural Resources Minister Jim Carr says he anticipates the federal cabinet will make a decision on the proposed Pacific NorthWest LNG export terminal in Prince Rupert, B.C., by the end of September. The $36-billion project by Malaysian state-owned Petronas is considered a linchpin of B.C. Premier Christy Clark's plan for a provincial liquefied natural gas industry, but has raised the ire of environmental opponents. Carr, speaking to reporters from a clean energy technology [Read more]
Wildfires, refinery outage behind Petro-Canada fuel shortages in the West
CALGARY - Suncor's Petro-Canada stations across Western Canada are running short on fuel because of a refinery outage in Edmonton and the Fort McMurray wildfires.Suncor spokeswoman Sneh Seetal said the cumulative effects of lower crude production because of the fires and the Edmonton outage mean the company has been producing less diesel and especially less gasoline for its retail operations."Given the prolonged duration of the fires and its impact on the supply for our refinery, as well as [Read more]
Sunshine Oilsands Ltd.: Announcement of Partial Closing of Private Placement of 13,333,333 Common Shares Under Specific Mandate
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - June 3, 2016) - The Board of Directors of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) wishes to announce the following: Partial Closing of Private Placement under Specific Mandate Reference is made to the announcements of the Corporation dated June 1, 2015 (Hong Kong), July 28, 2015 (Hong Kong), August 21, 2015 (Hong Kong), October 1, 2015 (Hong Kong), November 2, 2015 (Hong Kong), December 6, 2015 (Hong Kong), [Read more]
Delphi Energy Announces Increase and Pricing of Offering
CALGARY, ALBERTA--(Marketwired - June 2, 2016) - Delphi Energy Corp. ("Delphi" or the "Company") (TSX:DEE) is pleased to announce that it has priced its previously announced marketed offering (the "Offering") of units of Delphi (the "Units") and as a result of strong investor demand that exceeded the final offering size, the size of the Offering has been increased from 40,000 Units to 60,000 Units, for total gross proceeds of $60 million, up from $40 million. The Offering is underwritten by [Read more]
Twin Butte announces extension of credit facilities
CALGARY, June 2, 2016 /CNW/ - (TSX: TBE) – Twin Butte Energy Ltd. ("Twin Butte" or the "Company") announces that its bank syndicate has agreed to extend the maturity date of Twin Butte's $85 million non-revolving credit facility from June 2, 2016 to June 7, 2016 and the expiry of the revolving period of Twin Butte's $140 million revolving credit facility from June 2, 2016 to June 7, 2016 to enable the Company to continue with its strategic alternatives process. As announced on December 9, 2015, [Read more]
Arsenal Energy Inc. Announces Amended Loan Agreement
CALGARY, ALBERTA--(Marketwired - June 2, 2016) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI)(OTCQX:AEYIF) announces that the Company has entered into an amending agreement ("Amending Agreement") with its syndicate of bankers. Under the Amending Agreement, the Company's borrowing base has been redetermined at $6.0 million. The Company estimates its current bank borrowings at approximately $9.3 million. Under the terms of the Amending Agreement, the Company has until June 30, 2016 [Read more]
National Energy Board says Mackenzie Gas Project still in public interest
CALGARY, June 2, 2016 /CNW/ - The National Energy Board (NEB, the Board) will vary the sunset clauses for the Mackenzie Gas Project's Mackenzie Valley Pipeline and Mackenzie Gathering System to December 31, 2022. The extension to the sunset clause for the Mackenzie Valley Pipeline does not come into effect until it is approved by the Federal government. In a letter to the proponents, released today, the Board said that the project is still in the public interest and that the original [Read more]
Calgary oil and gas company blames order protecting grouse for its demise
CALGARY - A junior oil and gas company in Calgary is blaming an order aimed at protecting a rare Prairie bird for its insolvency.LGX Oil + Gas (TSX:LGX) says its daily operations and drilling plans were significantly disrupted when an emergency order under the federal Species At Risk Act took effect in February 2014 to protect the greater sage-grouse.The company's Manyberries oilfields in Alberta were subject to that order.In its order, Environment Canada restricts noise on 1,700 square [Read more]