EDMONTON - Alberta's consumer carbon tax is now officially gone. Members of the legislature voted last night to pass the bill that repeals the tax, and it was signed into law by Lt.-Gov. Lois Mitchell. The province stopped charging the tax last week, and the federal government announced it will soon replace the fee with its own carbon levy. The provincial carbon tax was implemented by the former NDP government, adding a surcharge to gasoline at the pumps and on fossil-fuelled home [Read more]
Headlines
Altura Energy Inc. Announces Board Appointment
CALGARY, Alberta, June 04, 2019 (GLOBE NEWSWIRE) -- Altura Energy Inc. ("Altura", or the "Corporation") (TSXV: ATU) is pleased to announce the appointment of John Chambers to its Board of Directors (the "Board"), effective June 4, 2019. “I’m pleased to welcome John Chambers as an independent Director on Altura’s Board,” said John McAleer, Chairman of the Board. “John brings a wealth of financial, business and leadership expertise that he has earned during 26 years in energy investment banking. [Read more]
CTF: Quebec feels Alberta’s pain, so why keep blocking pipelines?
As Quebec continues to face it’s own “dirty energy” export problems, their politicians should understand the pain Albertans are going through, but they are still deciding to oppose pipelines. Last year, Hydro-Quebec generated nearly $15 billion by selling more than 200 TWh of electricity. Despite these high sales, Quebec produces “too much” energy and Hydro-Quebec must regularly let water flow away without generating electricity, resulting in millions of dollars of lost revenue. Eager to [Read more]
Highwood Oil Company Ltd. Announces Market Making Activities
CALGARY, June 3, 2019 /CNW/ - Highwood Oil Company Ltd. (TSXV:HOCL) ("Highwood), is pleased to announce that it has retained the services of Independent Trading Group ("ITG") to conduct market making services. ITG will trade shares of Highwood on the TSX Venture Exchange ("Exchange") with the objective of maintaining a reasonable market and improving the liquidity and stability of Highwood common shares in compliance with the policies and guidelines of the Exchange. Under the terms of [Read more]
Oil lobby group calls for more timely regulatory regime for pipelines
OTTAWA - The country's largest oil-and-gas lobby group is urging all political parties in the run-up to the federal election to support major pipeline and LNG projects and to create a regulatory regime that would allow these projects to be completed faster. The Canadian Association of Petroleum Producers released its federal energy "platform" today, outlining the issues facing the oil-and-gas industry and ways the federal government can create better conditions for growth in the [Read more]
Minnesota court rules environmental assessment for Enbridge pipeline inadequate
A Minnesota court ruled on Monday that Enbridge Inc's final environmental impact statement for its Line 3 replacement project is inadequate, raising the possibility the Canadian crude oil pipeline could face further delays. The Line 3 replacement project would ship 760,000 barrels per day of Canadian crude from Alberta to Wisconsin, doubling current capacity and providing much-needed relief from congestion on existing Canadian pipelines. In a written decision posted online, the Minnesota [Read more]
Obsidian Energy Announces Extension of Syndicated Credit Facility Redetermination Date
CALGARY, June 3, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") announces the Company's banking syndicate has extended the syndicated credit facility redetermination date until June 30, 2019 as the Company completes marketing of its previously announced unsecured bond offering and as our partner progresses through its right of first refusal and tag-along provisions in regard to the Peace River Oil Partnership disposition. The [Read more]
John Robson: Harvest of woe
What if the crops fail? It’s not very likely, at least in North America and Europe, given the extraordinary proficiency and resilience of our high-tech agriculture. But apparently they might. At any rate, climate alarmists have been predicting manmade-global-warming-driven crop failure since at least the Canadian government’s 2001 Canada Action Plan pamphlet warning of declining yields on the prairies due to drought. (Indeed, they’ve been predicting widespread famine before they were climate [Read more]
Drakkar Energy Ltd. Seeks Joint Venture Partner
Drakkar Energy Ltd. is looking for a joint venture partner to invest $6 million in a multiwell horizontal drilling program in the Montney formation at Girouxville East. Our land base comprises twenty contiguous sections adjacent to two Montney pools. Drilling depth is 1100 metres with initial production rates exceeding 200 BOPD. Click here for a copy of our teaser and contact information for arranging a technical presentation [Read more]
Sale shows big loss in investment value of China-backed Alberta oil project
CALGARY - A Chinese company's $817-million investment in a northern Alberta heavy oil project nine years ago has collapsed in value to less than $80 million, based on the price its Canadian partner has negotiated for the sale of its majority stake. The fall to less than one-tenth of original value is shocking but consistent with the general record of poor performance from China's Alberta oilpatch investments, said Gordon Houlden, director of the China Institute at the University of Alberta in [Read more]