CALGARY, ALBERTA--(Marketwired - Nov. 6, 2015) - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced it will review all of its options in light of a permit denial for Keystone XL. Those options include filing a new application to receive a Presidential Permit for a cross border crude oil pipeline from Canada to the United States. "TransCanada and its shippers remain absolutely committed to building this important energy infrastructure project," said Russ Girling, [Read more]
Headlines
President Obama’s Keystone rejection is an assault against American workers
WASHINGTON, Nov. 6, 2015 /PRNewswire-USNewswire/ -- API President and CEO Jack Gerard said the president's rejection of the Keystone XL pipeline is a clear example of politics coming before the interests of U.S. workers and consumers. "It's ironic that the administration would strike a deal to allow Iranian crude onto the global market while refusing to give our closest ally, Canada, access to U.S. refineries," said Gerard. "This decision will cost thousands of jobs and is an assault to [Read more]
Obama administration refuses permit for Keystone XL pipeline after 7-year review
WASHINGTON - The seven-year saga of the Keystone XL pipeline culminated Friday in U.S. President Barack Obama rejecting a project that had become the biggest irritant in Canada-U.S. relations, amid its improbable escalation from an isolated land dispute into a major cross-border environmental struggle.The pipeline became the fault line in the American battle over climate change as the green movement pressed the president to turn down a permit that would have allowed Calgary-based TransCanada [Read more]
Actually, the industry is not asking for a magic wand
The numbers are in and things have never been quite this bad in Alberta, at least not in recent decades. StatsCan reports that 52,800 fewer people are working in Alberta this year compared to the same time last year. Athabasca Oil became one of the more recent companies to announce dramatic layoffs. It joins names like Cenovus, MEG, Enerplus, and Devon. Capital is already beginning its exodus, recently exemplified by Shell abandoning its multi-billion dollar Carmon Creek project. Things are only [Read more]
Suncor’s attempt to dismantle Canadian Oil Sands takeover defence heads to ASC
CALGARY - The battle between Suncor Energy Inc. (TSX:SU) and Canadian Oil Sands (TSX:COS) heads to the Alberta Securities Commission on Nov. 26.Suncor has asked the provincial regulator to dismantle one of the anti-takeover measures adopted by COS directors so that COS shareholders can decide for themselves whether to accept a deal announced on Oct. 5.COS says its board is actually attempting to defend its shareholders from a bidder with an unfair advantage because it has access to private [Read more]
Baytex Reports Q3 2015 Results
CALGARY, ALBERTA--(Marketwired - Nov. 6, 2015) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) reports its operating and financial results for the three and nine months ended September 30, 2015 (all amounts are in Canadian dollars unless otherwise noted). "During the third quarter, we continued to position our company to withstand the current low commodity price environment. Consistent with our revised plans for 2015, we moved forward with a slower pace of development in the Eagle [Read more]
TransCanada Agrees to Sell a 49.9 percent Interest in PNGTS to TC PipeLines, LP
CALGARY, ALBERTA--(Marketwired - Nov. 6, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it has entered into an agreement to sell a 49.9 percent interest in Portland Natural Gas Limited Partnership (PNGTS) to its master limited partnership, TC PipeLines, LP (NYSE:TCP), for a purchase price of US$223 million. The sale is expected to close at the end of 2015, upon satisfaction of closing conditions. "The PNGTS transaction is a continuation of our [Read more]
Baker Hughes Announces October 2015 Rig Counts
HOUSTON, Nov. 6, 2015 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for October 2015 was 1,111, down 29 from the 1,140 counted in September 2015, and down 197 from the 1,308 counted in October 2014. The international offshore rig count for October 2015 was 270, up 2 from the 268 counted in September 2015, and down 56 from the 326 counted in October 2014. The average U.S. rig count for October 2015 was 791, down 57 from the 848 counted in [Read more]
Enerplus Announces Strong Third Quarter 2015 Results, A Reduction in the Monthly Dividend & 2016 Guidance
CALGARY, Nov. 6, 2015 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) announces the results from operations for the third quarter of 2015, a reduction in its monthly dividend and 2016 guidance. "Enerplus delivered another quarter of strong operational performance. With the continued improvement in our capital efficiencies and the lowering of our cost structure, we are increasing our 2015 production guidance, while reducing our guidance for capital spending, [Read more]
Oil Megaprojects Won’t Stay On The Shelf For Long
One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. Extracting oil from these frontier areas required more advanced technology and a lot more capital: Ultra deepwater, Arctic offshore, heavy oil sands, and increasingly, the Lower Tertiary. Often these megaprojects projects were only the purview of the largest [Read more]