VANCOUVER - Conservative Leader Andrew Scheer says the economy has become such a mess under the Liberals that it would take a Conservative government five years to clean it up. He accused the Liberal government of embarking on a "deficit spree" and spending at a rate that will add $71 billion to the national debt by the end of this year. Scheer made the comments Friday to members of the Canadian Club at the Fairmont Hotel Vancouver, where he also accused the Liberals of stacking a panel on [Read more]
Headlines
Five takeaways from the Court of Appeal ruling on B.C.’s pipeline law
VANCOUVER - The British Columbia Court of Appeal ruled Friday that the province did not have the authority to restrict shipments of diluted bitumen through its borders. Here are five takeaways from the decision and its impacts: 1. Provinces cannot bring in legislation that interferes with the federal government's exclusive jurisdiction over interprovincial pipelines. While the B.C. government did not dispute that the federal government was responsible for cross-boundary infrastructure [Read more]
B.C. Court of Appeal strikes down the provincial government’s attempt to stymie the Trans Mountain expansion pipeline: CAPP
CALGARY, May 24, 2019 /CNW/ - The Canadian Association of Petroleum Producers (CAPP) is pleased the British Columbia Court of Appeal has reaffirmed that no one province has the authority to shut down construction of the Trans Mountain expansion pipeline (TMEP). The future of TMEP now rests with the Government of Canada to ensure construction begins immediately following the completion of consultations on June 18, 2019. The unanimous and expedient decision by the Court of Appeal to [Read more]
U.S. oil drillers cut rigs for third week in a row
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as weaker oil prices encourage drillers to follow through on plans to cut spending. Drillers cut five oil rigs in the week to May 24, bringing the total count down to 797, the lowest since March 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That compares with 859 rigs operating during the same week a year ago. The rig count, an [Read more]
Canada Weekly Rig Count Up 15 to 78
Western Canada’s fleet of drilling rigs went up by 15 to 78 according to data collected by Baker Hughes for the week of May 24th. From last Friday, Alberta rig counts went from 43 to 53. Saskatchewan's rig count increased from 1 to 11. Oil drilling went from 22 to 38; natural gas rigs declined by 1 to 40. View a full breakdown of western Canada’s rig activity. [Read more]
Court says B.C. can’t restrict oil shipments
VANCOUVER -- A court has ruled that British Columbia cannot restrict oil shipments through its borders in a decision that marks a win for the Trans Mountain pipeline expansion and Alberta's efforts to get its resources to overseas markets. The province filed a constitutional reference question to the B.C. Court of Appeal that asked whether it had the authority to create a permitting regime for companies that wished to increase their flow of diluted bitumen. A five-judge panel agreed [Read more]
Hardie & Kelly Inc. Announces R.I.I. North America Inc. Receivership Sale
CALGARY, Alberta, May 24, 2019 /CNW/ -- Hardie & Kelly Inc., in its capacity as court-appointed receiver (the "Receiver") of R.I.I. North America Inc. ("RIINA"), is accepting offers for RIINA's right, title and interest in the registered patents and patent applications in the jurisdictions of Canada, United States and Mexico (the "IP") associated with an enhanced oil recovery technology, called the solvent thermal resource innovations process ("STRIP), intended to cost-effectively introduce [Read more]
Cross-Canada corridor concept getting dusted off ahead of election
OTTAWA - The notion of a pan-Canadian corridor dedicated to rail, power lines and pipelines has been around for at least half a century but it looks like it's about to get a big publicity boost. Last week, Conservative Leader Andrew Scheer used a major pre-election policy speech to dust off a similar idea. Scheer promised, if he wins October's election, that he would to work towards establishing a cross-country "energy corridor." He said planning for the route would be done up [Read more]
Cequence Energy Announces Proposed Debt Transaction Private Placement and Credit Facility Renewal Update
CALGARY, Alberta, May 23, 2019 (GLOBE NEWSWIRE) -- Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce a proposed debt restructuring transaction, private placement and credit facility renewal update. Under the terms of a first amending agreement to the Company’s $60.0 million Term Loan entered into between the Company and the Term Loan debtholders, the Company has agreed to pre-pay $10.0 million of the Company’s $60.0 million Term Loan plus accrued and unpaid [Read more]
Southern Energy Corp. Terminates Bought Deal Equity Financing and Announces $8.0 Million Convertible Debenture Financing in Connection With Previously Announced Strategic Asset Acquisition in the Southern United States
CALGARY, May 23, 2019 /CNW/ - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV) announces that it has elected not to proceed with its underwritten public offering of subscription receipts, which was previously disclosed in the Company's press release dated April 25, 2019 (the "Public Offering"). The Company has withdrawn its short form prospectus filed in connection with the Public Offering on May 2, 2019 with the securities regulatory authorities in all provinces of Canada [Read more]