OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corp. (NYSE: DVN) today announced that it has entered into a definitive agreement to sell its 50 percent ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for CAD $1.4 billion, or USD $1.1 billion, using current exchange rates. The agreement also includes the potential for an incremental CAD $150 million payment with the sanctioning and development of a new thermal-oil project on [Read more]
Headlines
Going Dry: Why Quickly Quitting Fossil Fuels Won’t Work
Because, like Prohibition in the 1920s, it ignores the less admirable aspects of human nature. The Volstead Act, which outlawed alcohol with the aid of a Constitutional Amendment (the Eighteenth), lasted a mere 14 years. It was repealed by yet another Constitutional Amendment (the Twenty-First) and with that, the United States’ grand experiment with going dry came to an abrupt end. Its failure was really about one thing: a relatively small group of well-meaning, well-intended people — but [Read more]
Alberta announces oilsands climate advisory panel, co-chaired by anti-oilsands activist
The Alberta government has named the members of a panel to advise it on how the oilsands can meet its greenhouse gas reduction goals. The Oilsands Advisory Group will have representatives from industry, First Nations and environmental groups and have three co-chairs; one of whom is an anti-oilsands activist. Tzeporah Berman, a longtime environmental activist and professor of environmental studies at York University has a history of attending anti-oil rallies across Canada. She was a [Read more]
Paramount Resources Ltd. Commences Consent Solicitation and Gives Notice of Conditional Redemption in Respect of Its 2019 Notes
CALGARY, ALBERTA--(Marketwired - July 13, 2016) - Paramount Resources Ltd. (TSX:POU) ("Paramount" or the "Company") announced today that it has commenced a consent solicitation and given notice of conditional redemption in respect of its senior unsecured notes due 2019 (the "2019 Notes"), as the Company previously indicated it would in its July 6th press release announcing the Company's proposed Musreau/Kakwa asset sale to Seven Generations Energy Ltd. (the "Sale Transaction"). The consent [Read more]
Baytex Announces Executive Appointment
CALGARY, ALBERTA--(Marketwired - July 13, 2016) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) is pleased to announce the appointment of Ed LaFehr to the position of President effective July 18, 2016. Mr. LaFehr will report to James Bowzer in his capacity as Chief Executive Officer. Mr. LaFehr most recently served as Chief Operating Officer at Abu Dhabi National Energy Company ("TAQA") in Abu Dhabi, UAE. He has 35 years of global experience leading large organizations, directing [Read more]
US government thinks gas will be even cheaper this summer
The government says motorists might save a bit more money on gasoline this summer than had been expected. In its monthly short-term outlook, the Energy Information Administration said Tuesday that gasoline will average $2.25 a gallon for regular from April through September. That's 2 cents less than the agency predicted last month and 39 cents below prices from last summer. Gas is expected to average $2.12 a gallon for the entire year and rise to $2.28 next year. [Read more]
Lightstream Announces Results of Preliminary Interim Order Application
CALGARY, ALBERTA--(Marketwired - July 13, 2016) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces that, in connection with our proposed recapitalization transaction announced on July 12, 2016, we have received a preliminary interim order (the "Preliminary Interim Order") from the Court of Queen's Bench of Alberta initiating proceedings under the Canada Business Corporations Act ("CBCA") in respect of a proposed CBCA plan of arrangement. The Preliminary Interim [Read more]
Bank of Canada maintains overnight rate target at 1/2 per cent
OTTAWA, 13 July 2016 /CNW/ - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada's economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty. In this [Read more]
BOE Report Podcast Episode 9
On this episode, the BOE Report team talks about the AER's recent response to criticism of the LMR policy changes, Alberta's two newly introduced royalty programs, and western Canada missing the boat on LNG development, and they spoke with Chris Zavlanos about his unique and easy-to-use RiggerTalk website and app. Get episode on Google Play | iTunes | RSS On the Show Terry Etam Josh Groberman Chris Zavlanos Topics AER response to criticism of new LMR policy Alberta's two [Read more]
Birchcliff Energy Ltd. Announces Closing of Financings for Gross Proceeds of $690.8 Million
CALGARY, ALBERTA--(Marketwired - July 13, 2016) - Birchcliff Energy Ltd. ("Birchcliff" or the "Corporation") (TSX:BIR) is pleased to announce that it has closed its previously announced bought-deal financing (the "Offering") through a syndicate of underwriters co-led by National Bank Financial Inc., Cormark Securities Inc., GMP Securities L.P. and Scotia Capital Inc. (the "Co-Lead Underwriters") and including CIBC World Markets Inc., HSBC Securities (Canada) Inc., TD Securities Inc., Raymond [Read more]