TORONTO - The CEO of one of Canada's big banks is urging Ottawa to boost its spending on infrastructure projects and says the Energy East Pipeline should qualify for federal investment.Scotiabank CEO Brian Porter told the Canadian Club of Toronto on Friday that Energy East is a development that could help stimulate the country's sluggish economy."Look, we've got an industry that's core to this country that's on its back," Porter said."Energy East would be a quick solution to get Canada's energy [Read more]
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Minister Carr Hosts North American Energy Ministers Meeting
WINNIPEG, Feb. 12, 2016 /CNW/ - The Honourable Jim Carr, Canada's Minister of Natural Resources, welcomed Pedro Joaquín Coldwell, Mexico's Secretary of Energy, and Dr. Ernest Moniz, United States Secretary of Energy, to Winnipeg, where he hosted the North American Energy Ministers Meeting. The energy leaders discussed the importance of trilateral cooperation, as well as the way forward toward a continental approach to energy. During the meeting, the Ministers signed a Memorandum of [Read more]
NEB releases Canadian Energy Dynamics report, a retrospective of energy markets in 2015
CALGARY, Feb. 12, 2016 /CNW/ - Today, the National Energy Board (NEB) released Canadian Energy Dynamics: Highlights of 2015. This report provides insight, statistics and regional descriptions that frame the key developments in Canada's energy markets in 2015. Dynamic changes in supply, demand, and infrastructure continually shape Canada's energy sector. 2015 saw a six-year low in crude oil prices, with West Texas Intermediate (WTI) ending the year around $35 per barrel. Natural gas prices [Read more]
Northern Blizzard Resources Inc. Announces Revised 2016 Capital Program & Guidance; Maintains Dividend
CALGARY, Feb. 12, 2016 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard" or the "Company") (TSX: NBZ) announces a revised capital program for 2016 in response to the continuing weakness in oil prices. The capital program has been reduced by 60% to $40 million, which maintains the Company's financial strength and results in estimated 2016 production of 19,000 boe/d. The monthly dividend remains at $0.04 per share. Northern Blizzard operates and controls 99% of its development [Read more]
Strategic Oil & Gas Ltd. Provides Operations Update, Year-End Reserves and Financing Arrangement
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2016) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to announce its recent well results and year-end reserves: Step-out Muskeg horizontal well 14-35-121-23w5 produced at an average rate of 1,060 boe/d over the last 48 hours of a nine day production test. Step-out Muskeg vertical well 12-21-120-23w5 core identifies 12.6 meters (41.3 feet) of net oil pay. Proved and probable reserves of 12.7 MMBoe at [Read more]
Long Run Exploration Ltd. Announces Independent Proxy Firm Recommends Shareholders Vote in Favor of Arrangement and Files Addendum to Information Circular
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2016) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) is pleased to announce that Glass Lewis & Co. ("Glass Lewis") has recommended that shareholders vote in favor of the arrangement involving Long Run, Long Run securityholders and Calgary Sinoenergy Investment Corp. (the "Arrangement"). Glass Lewis is widely recognized as a leading independent proxy voting and corporate governance advisory firm, whose analyses and recommendations [Read more]
February 10 Alberta Land Sale Earns $4.64 Million
Yesterday's Alberta Oil and Gas Crown mineral rights land sale earned the province a total of $4.64 million. A total of 64 leases consisting of 28.5 thousand hectares of land were sold. The average price paid per hectare was $162.67, slightly up from the average $116.57 paid 2 weeks ago. That brings the total for the first three sales of 2016 to $11.4 million. The largest single non-anonymous bidder was Rockeast Energy Corp. who paid $96.6 thousand for 3 and a half sections in the Delbon [Read more]
Hemisphere Energy Grants Incentive Stock Options
VANCOUVER, Feb. 11, 2016 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) (the "Company") announces that it has granted incentive stock options to officers, directors, employees, and consultants of the Company, and a company performing investor relations services entitling them to purchase up to a total of 1,785,000 common shares at an exercise price of $0.08 each, pursuant to the Company's Stock Option Plan for a term of five years and subject to the receipt of the necessary regulatory [Read more]
Pine Cliff Energy Ltd. Announces More Than 120% Increase in 2015 Year-End Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2016) - Pine Cliff Energy Ltd. ("Pine Cliff") (TSX VENTURE:PNE) is pleased to announce its 2015 year-end reserves. Pine Cliff's independent reserve report was prepared by McDaniel & Associates Limited ("McDaniel") in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") with the effective date of December 31, 2015. Pine Cliff is pleased to report significant increases in its reserve base in [Read more]
Keystone XL writedown pushes TransCanada to $2.5-billion loss in Q4
CALGARY - The U.S. rejection of the Keystone XL pipeline pushed TransCanada Corp. to a $2.5-billion loss in the fourth quarter.Meanwhile, the Calgary-based pipeline company said it's weighing how federal changes to the environmental review process may affect timing of its controversial Energy East proposal.TransCanada (TSX:TRP) took a $2.9-billion, non-cash charge in the fourth quarter related to Keystone XL, which U.S. President Barack Obama blocked in November on grounds it would undermine [Read more]