ST. JOHN'S, N.L. - Environmental activists who want a drilling moratorium in the Gulf of St. Lawrence weren't impressed Friday as regulators extended an oil exploration licence for the Old Harry site by another year.Corridor Resources Inc. (TSX-CDH) of Halifax had until Friday to offer a $1 million deposit to extend the licence until next January.The Canada-Newfoundland and Labrador Offshore Petroleum Board announced the province and Ottawa agreed to waive the fee. Federal and provincial Natural [Read more]
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Eleven Facts about Keystone XL
TransCanada’s Keystone XL, a project that would carry Alberta oil from Hardisty, AB to Steele City, NB, was denied by President Barak Obama in late 2015. The project has been the focus of much attention on the part of paid protestors and their supporters. Here’s what they won’t tell you: Global oil demand increased by 4.2 million barrels per day during the review process, undermining the notion that the resource has hit a point of diminishing returns. [Read more]
Pembina Pipeline Corporation Announces Closing of $170 Million Preferred Share Offering and Declares Initial Dividend
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ CALGARY, Jan. 15, 2016 /CNW/ - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) is pleased to announce that it has closed its previously announced public offering of cumulative redeemable minimum rate reset class A preferred shares, Series 11 (the "Series 11 Preferred Shares") for aggregate gross proceeds of $170 million (the "Offering"). The Offering was announced on [Read more]
Finance Minister Bill Morneau visits financial heart of oilpatch country
CALGARY - Finance Minister Bill Morneau met with business leaders Friday in the financial heart of Canada's ailing oilpatch, where he says he got a clearer picture of how challenging the crude collapse has been for Alberta."They heightened my sense of concern, which was already pretty high about making sure that we deal with challenging economic situation in Alberta," he told reporters following meetings with oil and gas industry executives and the Calgary Chamber of Commerce. Morneau had [Read more]
War Between Saudi Arabia And Iran Could Send Oil Prices To $250
The rift between Saudi Arabia and Iran has quickly ballooned into the worst conflict in decades between the two countries. The back-and-forth escalation quickly turned the simmering tension into an overt struggle for power in the Middle East. First, the execution of a prominent Shiite cleric prompted protestors to set fire to the Saudi embassy in Tehran. Saudi Arabia cut off diplomatic relations and kicked out Iranian diplomatic personnel. Tehran banned Saudi goods from entering Iran. Worst [Read more]
Cardinal Energy Ltd. Updates Guidance and Reduces Dividend
CALGARY, ALBERTA--(Marketwired - Jan. 14, 2016) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) believes it is prudent to reset the Company's budget to reflect the prolonged downturn in oil prices. Cardinal has reduced its 2016 capital expenditure program from $35 million to $25 million. With the reduced capital program Cardinal expects to produce an average of 14,600 boe/d in 2016, consistent with our previous guidance. Q4 2015 production averaged approximately 13,800 boe/d. We [Read more]
Yoho Resources Inc. Announces Year End Financial Results and Pro-Forma Reserves Information as at September 30, 2015
CALGARY, ALBERTA--(Marketwired - Jan. 14, 2016) - Yoho Resources Inc. (TSX VENTURE:YO) ("Yoho" or the "Company") has filed today on SEDAR the financial statements for the year ended September 30, 2015 and the related managements' discussion and analysis ("MD&A"). Copies of these documents may be found on www.sedar.com. In December 2015, subsequent to its 2015 fiscal year end, Yoho closed a transaction to sell a portion of its Duvernay assets in the Kaybob area of Alberta for cash [Read more]
Anderson Energy Inc. Cancels January 18, 2016 Special Meeting of Its Debentureholders
CALGARY, ALBERTA--(Marketwired - Jan. 14, 2016) - Anderson Energy Inc. ("Anderson" or the "Company") (TSX:AXL) announces the cancellation of the special meeting of the holders of 7.50% Series A convertible unsecured subordinated debentures due January 31, 2016 (the "Series A Debentures") and holders of 7.25% Series B convertible unsecured subordinated debentures due June 30, 2017 (the "Series B Debentures", and together with the Series A Debentures, the "Debentures"). The special meeting had [Read more]
Federal finance minister says low oil, dollar add to importance of stimulus
DUGALD, Man. - Federal Finance Minister Bill Morneau said Thursday the low Canadian dollar and low price of oil make his plans for stimulus spending and tax cuts even more important.Morneau appeared to hint that Liberal plans for infrastructure spending could be strengthened."With the slowing of the economy, we believe it's doubly important that we take the correct actions to help Canadians to do better," Morneau told reporters at a stop on his pre-budget tour of the country."We're playing close [Read more]
Policy Uncertainty Main Reason for Reduced Investor Confidence in Alberta’s Oil and Gas Sector
CALGARY, ALBERTA--(Marketwired - Jan. 14, 2016) - Lagging investor confidence in Alberta's oil and gas sector has more to do with policy uncertainty than a lack of pipelines to get oil to market, concludes a new research bulletin released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. Pipelines or Policies: What's Behind the Fall in Investor Confidence in Alberta? examines whether investor perceptions of Alberta's energy industry are driven [Read more]