By Bob Weber EDMONTON — Another company has pulled the plug on one of the Alberta government’s high-profile projects to capture and store carbon created by the energy industry. Swan Hills Synfuels and the province announced Monday that they will discontinue a $285-million funding agreement that would have seen underground coal converted to gas and then burned to generate electricity. The carbon dioxide would have been stripped out and sold to nearby oilfields to boost [Read more]
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Shell consortium gets nod from Ottawa for 25 year LNG export licence
VANCOUVER - The federal government has approved a 25-year export licence for shipping liquefied natural gas from a West Coast terminal proposed by a consortium headed by Shell. Natural Resources Minister Joe Oliver says the approval for LNG Canada Development Inc. is a milestone in British Columbia's plans for a trillion-dollar LNG sector. Flanked by Ellis Ross, the chief of the Haisla Nation on B.C.'s North Coast, Oliver says global energy demand is expected to increase by 35 [Read more]
Nexen posts loss of $6M in the fourth quarter; revenue slips to $1.58B
CALGARY - Nexen Inc. (TSX:NXY.TO), the Calgary-based oil and gas producer being taken over by a state-owned Chinese company, says it sank into the red in the fourth quarter. Nexen, citing impairment charges on natural gas properties in the U.S. and Canada and costs associated with its Long Lake oilsands project, says its net loss in the three months ended in December was $6 million or two cents per diluted share. That was a big reversal from last year's fourth-quarter profit of [Read more]
Anderson Energy Ltd. Provides Operations and Reserves Update
CALGARY, ALBERTA--(Marketwire - Feb 25, 2013) - Anderson Energy Ltd. ("Anderson" or the "Company") (AXL.TO) provides the following update on its operations and key results of its year end reserves evaluation. The Company continues to focus on its Cardium light oil assets: 75% of proved plus probable BOE reserves volumes are from the Cardium formation; 90% of proved plus probable pre-tax NPV 10% reserves value is from the Cardium formation; 55% of current BOE production is from Cardium [Read more]
Manitok Energy Inc. Announces Strong Initial Flow Rates on Its Latest Two Stolberg Cardium Oil Wells
CALGARY, ALBERTA--(Marketwire - Feb. 25, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to provide an update on its 2013 drilling program. Manitok's 10th and 11th Stolberg Cardium oil wells are both horizontal wells drilled at the southern end of the Stolberg trend. By design, both wells were drilled significantly deeper in the structured [Read more]
DeeThree Exploration Provides 2013 Guidance and Significant Belly River Results
CALGARY, ALBERTA--(Marketwire - Feb 25, 2013) - DeeThree Exploration Ltd. ("DeeThree" or the Company") (DTX.TO) (DTHRF) announces its 2013 guidance and provides an operational update. DeeThree 2013 Guidance Summary Building on the operational and exploration success of 2012, DeeThree plans a 2013 capital program of approximately $150 million focused on increasing oil production from its Alberta Bakken property in the Lethbridge area of southern Alberta and its Belly River property in the [Read more]
Donnybrook Announces Agreement to Sell Simonette and Resthaven Assets
CALGARY, ALBERTA--(Marketwire - Feb 25, 2013) - Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) reports that it has entered into an asset exchange agreement (the "Asset Exchange Agreement") and an arrangement agreement (the "Arrangement Agreement") with Cequence Energy Ltd. ("Cequence") (CQE.TO) to sell the Company''s interest in its Simonette and Resthaven oil and gas properties for consideration consisting of 10.3 million common shares of Cequence ("Cequence Shares") [Read more]
Cequence Energy to acquire Montney assets in Simonette and provides update on recent drilling activity
CALGARY, Feb. 25, 2013 /CNW/ - Cequence Energy Ltd. ("Cequence") (TSX:CQE.TO - News) is pleased to announce that it has entered into agreements with Donnybrook Energy Inc. ("Donnybrook") (TSX:DEI.V - News) pursuant to which Cequence has agreed to acquire Donnybrook's interests in its oil and gas properties located in the Simonette and Resthaven areas of Alberta (the "Donnybrook Assets"). As consideration for the assets, Cequence will transfer its interest in its non-operated oil and gas [Read more]
Strategic Oil & Gas Ltd. Announces Year-End Reserves and Provides Operations Update
CALGARY, ALBERTA--(Marketwire - Feb 25, 2013) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to announce its year-end reserves and provide an update on its first quarter drilling program. RESERVES In accordance with National Instrument 51‐101 ‐ Standards of Disclosure for Oil and Gas Activities ("NI 51‐101"), the Company''s oil, natural gas and natural gas liquids ("NGL") reserves were evaluated by an independent engineering firm, McDaniel and [Read more]
South leg of Keystone XL from Oklahoma to Texas hits halfway mark
OKLAHOMA CITY - While the debate continues over whether the United States will approve a proposed oil conduit from Canada to the Gulf Coast, the segment from Cushing, Okla., to the Texas Gulf Coast is halfway toward completion and could be transporting oil by the end of the year. President Barack Obama travelled to Oklahoma nearly a year ago to tout construction of TransCanada's Keystone XL pipeline from the Cushing oil hub to Houston-area refineries. A decision on whether to allow [Read more]