The Harper government has approved Enbridge's Northern Gateway pipeline with several conditions. In December 2013 the NEB Joint Review Panel recommended that the federal government approve the project, subject to 209 required conditions. Read the release below courtesy Government of Canada: Government of Canada Accepts Recommendation to Impose 209 Conditions on Northern Gateway Proposal Proponent must demonstrate how conditions will be met, undertake further consultations [Read more]
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B.C, First Nation reach deal for land sale in heart of expected LNG growth
KITIMAT, B.C. - The B.C. government is heralding the sale of land to a First Nation in an area Premier Christy Clark hopes will one day be at the heart of a booming liquefied natural gas industry.Clark was in northern B.C. to mark the sale of land in downtown Kitimat to the Haisla Nation.The land has sat idle since a hospital on the site was demolished in 2005, though the prospect of a growing LNG industry along with other industrial projects has turned it into prime real estate.The Haisla [Read more]
A tale of two pipelines: a look at Northern Gateway and Keystone XL
OTTAWA - With the Conservative government poised to announce its decision on Northern Gateway here's a look at the controversial pipeline project and how it shapes up against its cross-border cousin, Keystone XL: THE BASICS Northern Gateway is a proposed 1,177-kilometre twin pipeline that would carry diluted bitumen from Alberta to the town of Kitimat on the British Columbia coast, where it would be shipped overseas by oil tankers. One pipeline would carry an average of 525,000 barrels [Read more]
Timeline of major events in Northern Gateway application process
VANCOUVER - Milestones in the Northern Gateway project: March 6, 2002: Calgary-based Enbridge (TSX:ENB) announces preliminary plans for a pipeline linking the Alberta oilsands to the West Coast. April 14, 2005: The company announces a deal with PetroChina Co. to transport oil from Alberta to the B.C. coast for export. The pipeline is expected to be in operation in 2010. Nov. 1, 2006: With the National Energy Board process already underway, Enbridge announces it will delay Northern [Read more]
Facts about Northern Gateway
VANCOUVER - Some facts about the Northern Gateway project:Cost: Estimated to be $7 billion, but that figure has been increasing.Route: Twin pipelines would run 1,177 kilometres from Bruderheim, just outside Edmonton, to a tanker port in Kitimat, on the northern coast of B.C.Oil: A westbound pipeline would carry up to 525,000 barrels a day of synbit, a blend of refined synthetic oil and bitumen, two types of dilbit and synthetic oil to Kitimat for export.Condensate: A second pipeline heading east [Read more]
Southern Pacific Installs Third ICD Configuration at STP-McKay and Provides Update on Pad 102 Downspacing
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) has completed another Inflow Control Device ("ICD") installation on one of its SAGD well pairs at the STP-McKay Thermal Project. The ICDs were installed on the 2P5 well pair, making this the third well pair of the 12 existing well pairs equipped with these devices. The 2P5 well pair was shut-in for 14 days to cool off and complete the workover; it was placed back on [Read more]
Spartan Energy Corp. Announces Exercise of Over-Allotment Option, Completion of $149.5 Million Equity Financing and Updated Corporate Presentation
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased to announce that it has closed its previously announced bought-deal financing of 39,870,500 common shares ("Common Shares"), which includes the exercise in full of the over-allotment option of 5,200,500 Common Shares, at a price of $3.75 per Common Share for gross proceeds of approximately $149.5 million (the "Financing"). The syndicate of underwriters was co-led by [Read more]
Spyglass Resources Corp. Announces Board of Director and Executive Management Appointments
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) is pleased to announce the following board of director and executive management appointments, effective July 1, 2014: Tom Buchanan will assume the role of Chairman of the Board; Dan O'Byrne will assume the role of Chief Executive Officer and Director in addition to his current role as President; and Randall Findlay, the current Chair of the Board, will become [Read more]
Strategic Oil & Gas Ltd. Provides Operations Update
CALGARY, ALBERTA--(Marketwired - June 17, 2014) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to provide the following operations update. MUSKEG STACK UPDATE The Company's latest Muskeg Stack well (10-24) was drilled in March 2014 with 1,438 metres of horizontal section and a 15 stage completion program. The well has been tied in and producing for 52 days with initial rates well over the Company's Muskeg type curve. Initial rates for the Muskeg [Read more]
Oil slips as U.S. deploys small force to Iraq amid worsening violence
The price of oil dropped Tuesday after the U.S. said it was deploying a small group of troops to Iraq, which helped soothe fears somewhat over the prospect of a broader conflict that could disrupt crude supplies. Benchmark U.S crude for July delivery dropped 29 cents to US$106.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 1 cent to settle at $106.90 on Monday. Brent crude, a benchmark used to price international oils, fell 33 cents to $112.61 a [Read more]