EDMONTON - Alberta Premier Rachel Notley says progress on addressing climate change is the key to getting pipelines built.She made the comment a day after TransCanada Corp. asked the U.S. government to put a hold on the company's permit application for the Keystone XL pipeline.The line would take Alberta crude across the United States to refineries and ports on the Gulf Coast.The line has been a flashpoint of controversy given its economic potential versus potential harm to the [Read more]
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Wall says Keystone delay will have impact; underscores need for Energy East
REGINA - Saskatchewan Premier Brad Wall says a delay in the proposed Keystone XL pipeline underscores the importance of the Energy East pipeline.Wall says without a pipeline, more oil will be transported by rail, which he argues brings a higher safety risk.Keystone XL would carry crude from Canada to the Gulf Coast, but the company involved has asked the U.S. government to temporarily suspend the application.TransCanada Corp. says it needs more time as it deals with legal wranglings over the [Read more]
Shell defends BG deal in time of low oil prices, promises $1 billion in savings
LONDON - Royal Dutch Shell outlined Tuesday its strategy for making its merger with BG profitable in a world with falling oil prices, revealing another $1 billion in cost savings from the deal.Chief Executive Officer Ben van Beurden said cost savings for the deal are now expected to be $2 billion, bringing total synergies to $3.5 billion in 2018. Examples include savings on corporate costs such as real estate."The $1 billion increase is in operating cost synergies and has arisen from both [Read more]
Hemisphere Energy Provides Operational and Corporate Update
TSX-V: HME VANCOUVER, Nov. 3, 2015 /CNW/ - Hemisphere Energy Corporation ("Hemisphere" or the "Company") (TSX-V: HME) is pleased to provide an update on its recent field operations and corporate activities. Atlee Buffalo, Alberta Hemisphere has received the necessary approvals and commenced injection in all three of its planned waterflood pilots in Atlee Buffalo. The Company expects to see significant production and reserve additions over the next number of years through enhanced [Read more]
Delphi Energy Announces Closing of Disposition of Hythe Assets
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2015) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to report that it has closed the previously announced disposition of its working interests in producing properties, facilities and infrastructure and undeveloped land in the greater Hythe area for proceeds of $12.0 million. Disposition Details of the divested assets are as follows: Production for the seven months ending July [Read more]
TransCanada Reports Third Quarter 2015 Financial Results
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced net income attributable to common shares for third quarter 2015 of $402 million or $0.57 per share compared to $457 million or $0.64 per share for the same period in 2014 and $1.2 billion or $1.72 per share compared to $1.3 billion or $1.81 per share on a year-to-date basis. Comparable earnings for third quarter 2015 were $440 million or $0.62 per share compared to $450 [Read more]
Cardinal Energy Ltd. Announces Third Quarter Results
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2015) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2015. The Company also announces that its unaudited financial statements and management's discussion and analysis for the quarter ended September 30, 2015, are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on Cardinal's [Read more]
Mayor of town where Keystone would begin says it’s not the only game in town
HARDISTY, Alta. - The mayor of the southeast Alberta community where the Keystone XL pipeline would begin says news that TransCanada Corp. has asked the U.S. government to temporarily suspend its application comes as a blow.Anita Miller calls the move "really unfortunate" and says it's going to affect "lots and lots of people" in Hardisty, Alta., particularly in support businesses such as gas stations, hotels and restaurants.But she adds Keystone is not the only game in town. While activity has [Read more]
Lightstream Announces Third Quarter Production of 30,255 boepd and Funds Flow From Operations of $45 Million
CALGARY, ALBERTA--(Marketwired - Nov. 2, 2015) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces our third quarter financial and operating results. THIRD QUARTER FINANCIAL & OPERATING HIGHLIGHTS Third quarter 2015 production averaged 30,255 boepd (71% light oil and liquids weighted), a 5% decrease from second quarter 2015 production due to a reduced capital program and third-party facility restrictions. Average production for the first nine months of [Read more]
TransCanada Asks State Department to Pause Keystone XL Review
CALGARY, ALBERTA--(Marketwired - Nov. 2, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it has sent a letter to Secretary John Kerry of the U.S. State Department asking the Department to pause its review of the Presidential Permit application for the Keystone XL pipeline. The company believes there is sound precedent for making this request. "We are asking State to pause its review of Keystone XL based on the fact that we have applied to the Nebraska [Read more]