CALGARY - Canadian energy companies looking south for new opportunities should cast their eyes beyond the U.S., according Mexican politicians and businessmen attending an event at Calgary's Petroleum Club on Monday.The delegation, speaking at a forum hosted by the Economic Club of Canada, said Mexico's energy sector is open for business now that the country has lifted the state monopoly that existed for more than 75 years."You are facing a country that has dared to change," David Penchyna, [Read more]
Headlines
Dejour Lenders Extend Term of Bridge Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 28, 2015) - Dejour Energy Inc. (NYSE MKT:DEJ)(TSX:DEJ) ("Dejour" or the "Company"), an independent oil and gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, today announced that it reached agreement with certain insider lenders of its previously reported C$6.5mm bridge financing to extend the secured notes in their current form until December 31, 2015, without the inclusion of any [Read more]
The American Legion calls for action on Keystone XL Pipeline
WASHINGTON, Sept. 28, 2015 /PRNewswire-USNewswire/ --The head of the nation's largest veterans service organization blasted the White House today for its prolonged opposition to the job-creating Keystone XL Pipeline. "This month marks the seventh anniversary since a permit request was submitted to the U.S. State Department that would lessen America's dependence on Middle Eastern oil and create an estimated 42,000 jobs," American Legion National Commander Dale Barnett said. "Veterans need these [Read more]
Edmonton police face spike in crime calls due to energy industry woes
EDMONTON - Edmonton police are linking the downturn in the oilpatch to a spike in crime.Chief Rod Knecht said officers have responded to 9,000 more calls for service this year, compared to the same time in 2014.Violent crime is up 12 per cent, property crime 18 per cent and the number of 911 emergency calls is up by almost 14 per cent. Knecht said the calls for service are not all serious crimes, but added this "significant" jump means that sometimes his officers take longer to respond. "When [Read more]
Notley stresses importance of environment in speech to Montreal business group
MONTREAL - A federal cap-and-trade system to reduce greenhouse gas emissions may not be suitable for Alberta, the province's NDP premier said Monday, one day after her federal counterpart proposed such a plan on the campaign trail.Rachel Notley, on the first leg of a business trip to Montreal, New York City and Toronto, told executives and politicians that a national cap-and-trade system "may not be our best road forward."She added that Alberta — whose economy is heavily dependent on the [Read more]
Discouraging signals for Canadian Beaufort exploration as Shell abandons Alaska
CALGARY - Royal Dutch Shell's decision to scrap plans to explore for oil off Alaska's coast is sending a discouraging signal to those who want to see Canada's Arctic offshore resources developed.Shell drilled a well in the Chukchi Sea this summer that indicated the presence of oil and gas, but said Monday the results weren't good enough to warrant further exploration for the "foreseeable future.""Shell continues to see important exploration potential in the basin and the area is likely to [Read more]
Halliburton and Baker Hughes Announce Additional Divestiture Proposals
HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) today announced that the companies will market for sale additional businesses in connection with Halliburton’s pending acquisition of Baker Hughes. Pursuant to the Merger Agreement, and in order to permit completion of Halliburton’s acquisition of Baker Hughes, the following additional businesses are intended to be divested: Halliburton’s expandable liner hangers business, which is part of the [Read more]
Athabasca Oil Corporation Provides Operations Update
CALGARY, ALBERTA--(Marketwired - Sept. 28, 2015) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or "the Company") is pleased to provide an update on recent operational activities. Athabasca achieved first oil at Hangingstone in July. The Company now has 15 well pairs on production with an additional six well pairs on circulation. Bitumen production has averaged 3,200 bbl/d to date in September with current production in excess of 4,000 bbl/d. Reservoir response, plant reliability [Read more]
Shell ceases Alaska Arctic drilling, cites disappointing results from exploratory well
ANCHORAGE, Alaska - Royal Dutch Shell has abandoned its long quest to become the first company to produce oil in Alaska's Arctic waters, darkening the nation's long-term oil prospects and delighting environmental groups that tried to block the project.After years of effort, Shell is leaving the region "for the foreseeable future" because it failed to find enough oil to make further drilling worthwhile.The company has spent more than $7 billion on the effort, slogged through a regulatory gauntlet [Read more]
Encana says blowout at northern Alberta natural gas well has been capped
FOX CREEK, Alta. - A blowout at a well in northern Alberta that has been venting natural gas and small amounts of a toxic chemical has been capped.Encana (TSX:ECA) says in an update on its website that the damaged wellhead 18 kilometres from Fox Creek has been brought under control and that the flow of natural gas and condensate has been stopped.The blowout happened Sept. 21 at the well, which is licensed to produce hydrogen sulphide, a poisonous gas that smells like rotten eggs.Company [Read more]