CALGARY, Dec. 21, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG, "MEG" or the "Company") today acknowledges that on December 14, 2018, the Alberta Securities Commission issued a decision Re Husky Energy Inc., 2018 ABASC 184 (the "Decision"), exempting Husky from subsection 2.23(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids which requires Husky to offer identical consideration to all of the holders of the same class of securities that are subject to a take-over bid in connection with [Read more]
Headlines
Terrazzano: Don’t leave taxpayers on the hook for another government refinery
Albertans, not only are you shareholders of a pipeline and soon-to-be buyers of new railcars, get ready to add another government-supported refinery to the list. Before you get too excited, history has shown that this is a bad deal for taxpayers. The North West Upgrader has become the prime example of a government development project becoming a taxpayer boondoggle. This project involves the Alberta government financing an outside company to build facilities and refine its bitumen. Under [Read more]
Marksmen Announces Proposed Private Placement of Debenture and Granting of Stock Option
CALGARY, Alberta, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSX: MAH) (OTCB: MKSEF) announces that it has reached an agreement in principal to complete a non-brokered private placement of a non-convertible secured debenture ("Debenture") for gross proceeds of $1,250,000 (the "Offering") and issue 1,800,000 share purchase warrants of the Company (the "Warrants"). Each whole Warrant entitles the holder thereof to purchase one common share of the Company [Read more]
Political stumbles, savvy activists knock Canada’s oil sector to its knees
A decade ago, Canada's oil sector was growing so fast it was predicted to become a global energy superpower, but a series of political missteps and formidable environmental activism has created a dysfunctional system requiring OPEC-style government intervention to move its oil to market. Canada produces 4.9 million barrels per day (bpd), more than any country other than the United States, Saudi Arabia and Russia, but the world's fourth largest producer has had to nationalize a pipeline and [Read more]
B.C. cities join global movement asking oil companies for climate change costs
Staff and contractors in Victoria have been crunching the numbers on climate change costs for the coastal city and it's not looking good, the mayor says. Lisa Helps says based on a report commissioned by the regional government in 2015, storm surges combined with a one-metre rise in sea level — which is projected by the year 2100 — could result in business disruption losses of $415,557 per day. Victoria was one of the first municipalities in British Columbia to pen a letter to [Read more]
Pieridae and Ikkuma complete business combination
CALGARY, Dec. 20, 2018 /CNW/ - Pieridae Energy Limited (PEA-TSXV) ("Pieridae") and Ikkuma Resources Corp. (IKM-TSXV) ("Ikkuma") announce that they have completed the previously announced arrangement pursuant to which Pieridae acquired all of the issued and outstanding shares of Ikkuma by way of a plan of arrangement (the "Arrangement") under section 193 of the Business Corporations Act (Alberta). The Arrangement was approved by shareholders of Ikkuma ("Ikkuma Shareholder") at a special meeting [Read more]
ExxonMobil shelves Canada LNG export project
U.S. oil major ExxonMobil has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, effectively signalling that the project has been shelved.The so-called WCC LNG export project in Canada's British Columbia was expected to produce around 15 million tonnes per year of LNG, with plans for further expansion up to 30 million tonnes per year.Legislation in British Columbia requires large projects to obtain an [Read more]
Husky Energy Announces 2019 Budget and Production Update
Capital spending $300 million less than previously forecast Record thermal production in Q4 2018; Full rates achieved at Sunrise, Tucker and Rush Lake 2 CALGARY, Alberta, Dec. 20, 2018 (GLOBE NEWSWIRE) -- Husky Energy plans to spend approximately $3.4 billion on its capital expenditure program in 2019 as it continues to invest in a deep portfolio of higher-margin, longer-life projects. This is about $300 million less than forecast at the Company’s Investor Day in May 2018, and includes capital [Read more]
Natural Gas Innovation Fund Signs on Seven Leading Natural Gas Producers, Launches a Cleantech Funding Call, and Leads a Historic Federal, Provincial and Industry Co-Funding Collaboration
CALGARY, Dec. 20, 2018 /CNW/ - Today the Natural Gas Innovation Fund™ (NGIF) makes three major announcements: seven Canadian natural gas producers have joined the fund to advance cleantech innovation and improve environmental performance and greenhouse gas (GHG) emission reduction in Canada's natural gas energy system; a $3 million funding call is opening for cleantech solutions for the development and production of natural gas; and a Federal/Provincial Government and Industry collaboration on [Read more]
Enbridge Inc. Completes Mergers with Enbridge Energy Partners, L.P. and Enbridge Energy Management, L.L.C.
CALGARY and HOUSTON, Dec. 20, 2018 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge), on behalf of itself and certain of its wholly owned U.S. subsidiaries, Enbridge Energy Partners, L.P. (NYSE: EEP) (EEP) and Enbridge Energy Management, L.L.C. (NYSE: EEQ) (EEQ), today announced that they have completed the previously announced respective merger (the EEP Merger) of EEP with a wholly owned subsidiary of Enbridge, and the merger (the EEQ Merger) of EEQ with a wholly owned subsidiary of [Read more]