KAMLOOPS, B.C. - Two First Nations in British Columbia's Interior that had been part of a court challenge against the Trans Mountain pipeline expansion have reversed course and signed deals with the Crown corporation. The Upper Nicola Band and Stk'emlupsemc te Secwepemc dropped out of the Federal Court of Appeal litigation, leaving four B.C. First Nations to fight the case. The Upper Nicola says in a joint news release with Trans Mountain on Friday that its deal represents a "significant [Read more]
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Keyera Elects to Maintain its 50% Ownership in Base Line Terminal
CALGARY - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it recently received a right of first refusal notice ("ROFR") from an affiliate of Kinder Morgan Canada Limited ("Kinder Morgan") in respect of Kinder Morgan's 50 percent interest in the Base Line Terminal ("the Terminal"). Keyera has elected not to exercise the ROFR and will continue to have a 50 per cent interest in the Terminal. The Terminal is an above-ground crude oil storage facility located near Edmonton, Alberta that [Read more]
CNOOC Limited Announces Appointment of Chairman and Chairman of the Nomination Committee
HONG KONG -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced Mr. Wang Dongjin, an existing Non-executive Director of the Company, has been appointed as Chairman and Chairman of the Nomination Committee of the Company with effect from 18 November 2019. Mr. Wang no longer serves as Vice Chairman of the Board with effect from 18 November 2019. The Board would like to take this opportunity to offer Mr. Wang its sincere congratulations on his appointment as the [Read more]
Pengrowth Energy Corporation Announces Receipt of Interim Order for the Plan of Arrangement; Mailing Date of Meeting Materials
CALGARY - Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that it has obtained an interim order (the "Interim Order") from the Court of Queen’s Bench of Alberta in connection with its previously announced business combination with Cona Resources Ltd. (the “Purchaser”), a portfolio company of Waterous Energy Fund, by way of a plan of arrangement (the “Arrangement”) under the Business Corporations Act (Alberta). As previously disclosed, pursuant [Read more]
Delphi Energy Corp. Announces Senior Secured Noteholders and Shareholders Approve Recapitalization Transaction and Management Changes
CALGARY - Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce that at the meetings (the “Meetings”) of holders of the Company’s 10.00% Senior Secured Notes due 2021 (the “Noteholders”) and holders of the Company’s common shares (“Shareholders”) held today, the Noteholders and Shareholders approved the Company’s previously announced recapitalization transaction to be implemented pursuant to a plan of arrangement (the “Plan of Arrangement”) under the Canada Business Corporations [Read more]
Canada weekly rig count drops 6 to 134
Canada’s fleet of active drilling rigs decreased from 140 to 134 since last week according to data from Baker Hughes. Total drilling count was 134 at November 15. 88 rigs were drilling for oil; 46 for natural gas. The drilling activity in Alberta decreased, lowering from 96 to 90. Saskatchewan’s drilling stagnated, remaining at 31. View a full breakdown of Western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs for fourth week in a row -Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row as producers plan to slash spending for a second consecutive year in 2020 while they struggle to extract profits from the shale boom. Drillers cut 10 oil rigs in the week to Nov. 15, bringing the total count down to 674, the lowest since April 2017, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 888 active [Read more]
One year later most oil-and-gas bailout money has moved, federal government says
OTTAWA - Canada's $1.6-billion bailout package for Alberta's battered oil industry is well underway but with little transparency about who is getting the money and for what. Almost $1 billion of the package of loans, guarantees and government grants announced last December is in the hands of companies but details are available for just a small fraction of the spending. Two Alberta petrochemical projects each received $49 million for new facilities to turn propane into a type of plastic, [Read more]
Crescent Point Announces Sale of Saskatchewan Gas Infrastructure Assets for $500 Million
CALGARY - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce that it has entered into a definitive agreement (the "Agreement") to sell certain associated gas infrastructure assets (the "Assets") in Saskatchewan to Steel Reef Infrastructure Corp. ("Steel Reef" or the "Purchaser") for total cash consideration of $500 million. "Through the sale of these gas infrastructure assets, we will unlock value for our shareholders and further [Read more]
U.S. natgas futures little changed on Friday, down 5% for week as weather moderates
U.S. natural gas futures were little changed on Friday, putting the contract on track to fall about 5% for the week as weather later in November was forecast to be less cold than previously expected. Front-month gas futures for December delivery on the New York Mercantile Exchange were up 0.8 cents, or 0.3%, to $2.655 per million British thermal units at 8:15 a.m. EST (1315 GMT). That put the front-month down about 5% for the week, which would be its first weekly decline in three [Read more]