Canada's Inter Pipeline Ltd rejected a C$12.4 billion ($9.37 billion) buyout offer from Hong Kong billionaire Li Ka-Shing's CK Infrastructure Holdings Ltd in July, the Globe and Mail reported late on Thursday, citing sources familiar with the two companies. Inter Pipeline had said previously that it had received a takeover bid in August without naming the buyer. It also said then it was not in talks to sell. Shares of the company, which owns pipelines in Alberta and Saskatchewan as well as [Read more]
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Enbridge provides update on Canadian Mainline open season process
Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) provided an update today on the Canadian Mainline open season regulatory process. On August 2, 2019, Enbridge commenced an open season, offering firm capacity on its crude oil Mainline system, effective upon expiry of the Competitive Toll Settlement that is in place until July 1, 2021. The open season is the first stage of Enbridge determining whether there is sufficient commercial interest for its offering to provide priority [Read more]
Dozens of Enbridge oil shippers wade into dispute over proposed pipeline overhaul
More than two dozen oil companies wrote to Canada's energy regulator on Thursday to support or oppose it intervening in Enbridge Inc's contentious proposal to overhaul shipping contracts on the Mainline pipeline network. The Mainline is North America's largest pipeline system, shipping around 3 million barrels per day of crude from western Canada to the U.S. Midwest. Enbridge currently allocates capacity based on monthly nominations from shippers, but is proposing to switch to long-term [Read more]
Pieridae Energy Issues an Update on the Private Placement of Subscription Receipts
CALGARY, Alberta, Sept. 05, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce that Haywood Securities Inc., as sole agent, has confirmed that it has received subscriptions for the placement of 38,637,850 subscription receipts of the Company at a price of $0.86 per subscription receipt for gross proceeds of $33,228,551.38 (the “Subscription Receipt Offering” or the “Offering”). This includes a subscription of $20 million from Erikson [Read more]
Open Letter – How to get barred from visiting the Senate
Dear Prime Minister, Senators and Honourable MPs, I am writing to you today regarding a recent experience that I had in our nation’s capital. My wife and I travelled out east to drop our youngest child off at university for his first year of engineering. Seeing as this was a fairly long trip, we decided that we would extend our trip by a few days so as to take in the sights and sounds of Ottawa. Over the following few days we made plans to go on a bike tour of the city, visit the science [Read more]
U.S. natgas futures fall from 7-week high on big storage build
U.S. natural gas futures fell almost 2% from a seven-week high on Thursday following the release of a bigger than expected weekly storage build and a projected decline in the amount of gas flowing to liquefied natural gas (LNG) export plants. The U.S. Energy Information Administration said utilities added 84 billion cubic feet (bcf) of gas into storage during the week ended Aug. 30. That is higher than the 78-bcf build analysts forecast in a Reuters poll and compares with an injection of [Read more]
Point Loma Resources Announces Successful 700 boepd Delineation Well Test at Wizard Lake
Point Loma Resources Ltd. (TSX.V:PLX) (the “Corporation” or “Point Loma”) is pleased to announce production test results for the Wizard Lake HZ 1-8-48-27W4 Rex oil pool delineation well. Highlights Test rate for the Rex horizontal oil well over the last 24 hours of the test period to 3pm September 4, 2019 was approximately 350 barrels of 18.5 API oil per day (bopd) and 700 barrels of oil equivalent per day (boe/d) (Figure 1). The well was the first of a two well farm-out at Wizard [Read more]
Blockchain in Energy Event to Kick Off Alberta Blockchain Week
Week-long showcase of Alberta’s emerging blockchain ecosystem kicks off with an afternoon of events devoted to exploring the transformative potential of blockchain for Alberta’s energy industry. CALGARY, Alberta On September 9th, Calgary blockchain and energy company GuildOne is proud to be hosting Blockchain in Energy to kick off Alberta Blockchain Week. An afternoon of events intended to explore the vast potential of blockchain technologies to transform the energy industry, Blockchain in [Read more]
Noralta Technologies acquires WellKeeper Inc.
Noralta Technologies Inc., announced today that it has acquired the business of Wellkeeper Inc, based in Houston, Texas. Noralta will move quickly to integrate Well Keeper’s clients onto its nTerface remote monitoring and surveillance platform. “We see this as a very positive addition to the Noralta user community. WellKeeper’s customers sites will be seamlessly added to our platform and immediately enjoy an increased service offering” said Cam Zarowny, President and Founder of Noralta. For [Read more]
Federal Court of Appeal allows new challenges to Trans Mountain oil pipeline expansion
Canada's Federal Court of Appeal on Wednesday agreed to hear six challenges to the Canadian government's earlier approval of an expansion of the Trans Mountain oil pipeline, potentially adding to delays ahead of an October election. In a ruling posted on its website, the court said the six challenges relate to the adequacy of the government's consultations with indigenous groups, and that they must proceed on strict, short deadlines. The decision marks the second time in just over a year [Read more]