EDMONTON - Alberta Premier Rachel Notley and Prime Minister Justin Trudeau emerged from a meeting Wednesday with a formal commitment to fast-track $700 million in previously committed federal infrastructure money to the struggling province."The federal government is committed to fast-track infrastructure investments for Alberta, and indeed all provinces and territories," Trudeau told reporters in the rotunda of the legislature after the meeting."This will help promote jobs and growth where they [Read more]
Headlines
Suncor Energy reminds COS shareholders to tender shares by February 5 deadline to receive Suncor dividend
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - Suncor Energy Inc. (TSX: SU; NYSE: SU) reminds shareholders of Canadian Oil Sands ("COS") to tender their shares to Suncor's amended offer for all of the outstanding shares of COS on the basis of 0.28 of a Suncor common share for each common share of COS. Assuming the conditions of Suncor's offer are satisfied by 4:00 p.m. MT on Friday, February 5, COS shareholders who have tendered by that day will be entitled to receive Suncor's first quarter [Read more]
Stonehaven Exploration Ltd.: Corporate Update
CALGARY, AB--(Marketwired - February 02, 2016) - Stonehaven Exploration Ltd. ("Stonehaven" or the "Company") (TSX VENTURE: SE) provides an update on wells three and four in the four well Wilson Creek, Alberta Belly River development and exploration farm-in program that commenced in Q4 2015. As a result of drilling and completing all four wells in the program, Stonehaven has earned an interest in all four wells and associated lands. The third well in the program is an exploration horizontal [Read more]
AltaGas Ltd. Announces Sale of Non-Core Gas Assets
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that its wholly owned subsidiaries, AltaGas Processing Partnership and AltaGas Holdings Inc., have entered into an agreement with Tidewater Midstream and Infrastructure Ltd. ("Tidewater") to sell AltaGas Northcentral Processing Limited Partnership, a limited partnership containing certain non-core natural gas gathering and processing assets (the "Tidewater Disposition"). Total consideration to be [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces Strategic Acquisition of Deep Basin Gas Processing and Gathering Assets
CALGARY, AB--(Marketwired - February 02, 2016) - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX VENTURE: TWM) is pleased to announce that it has entered into an agreement with AltaGas Ltd. ("AltaGas" or the "Vendor") (TSX: ALA) to acquire 100% of AltaGas' working interest in select Deep Basin and central Alberta gas processing facilities and related infrastructure (the "Assets"), the majority of which are located in Tidewater's core West Pembina region (the [Read more]
Energy East builder TransCanada to announce deal with big international firm
MONTREAL - The company planning to build the Energy East pipeline says it has concluded a "major supply agreement" with an international firm that will benefit the Quebec economy.Officials of TransCanada Corp. (TSX:TRP) and the president and CEO of ABB Canada are going to be in Montreal on Wednesday to sign the deal. ABB Canada is a division of ABB Group, a huge Swiss-based power and automation technology firm whose customers are involved in utilities, industry, transport and [Read more]
Petrus Resources Announces Closing of Arrangement
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - Petrus Resources Ltd. ("Petrus" or the "Company") is pleased to announce that the previously announced plan of arrangement (the "Arrangement") involving Petrus, Petrus Resources Corp. ("Old Petrus"), Petrus Resources Inc. (formerly PhosCan Chemical Corp.) ("PhosCan") and Fox River Resources Corporation ("Fox River") has closed, and aggregate gross proceeds from the previously announced $30 million bought deal financing (the "Financing") of [Read more]
QuickFacts: How Alberta’s economy has performed vs. its past self and Canada
OTTAWA - Alberta's economy took a nosedive with the downturn in oil prices. Growth and employment have both taken a hit.Here are some facts, including forecasts from BMO Capital Markets.THE GOOD OL' DAYS:Growth: In 2014, the Canadian economy as a whole grew 2.5 per cent, while Alberta expanded 4.8 per cent.Unemployment: That same year, the national unemployment rate was 6.9 per cent, while it was 4.7 per cent in Alberta.Debt and deficits: In the 2014-15 fiscal year, Canadian governments as a [Read more]
Gibson Energy Announces New Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - Gibson Energy Inc. ("Gibsons" or the "Company") (TSX:GEI) announced today that Sean Brown will be appointed Chief Financial Officer (CFO), effective March 2, 2016. Sean comes to Gibsons from BMO Capital Markets where he most recently held the title of Managing Director. Prior to his role at BMO Sean worked in the energy group of J. P. Morgan Securities in New York. Sean has deep expertise in the midstream energy infrastructure sector and has been [Read more]
“Mightily suffering” have-provinces need to reform equalization says CTF
Plunging oil prices are forcing governments and families in Alberta and Saskatchewan to keep an eye on every bill. One of those bills may come as a surprise: next year’s equalization costs are going up to $499 per Canadian. Taxpayers in Alberta and Saskatchewan will be paying more, but despite their struggling economies, they won’t be receiving a dime back. The federal government’s financial projections show the total cost of the program will be nearly $17.9 billion next year. Ultimately, [Read more]