OTTAWA - The prime minister accused opponents on Saturday of "stoking national divisions" through their reactions to TransCanada's decision to cancel its Energy East Pipeline plans. Justin Trudeau said in a Facebook post that critics who attribute the proposed project's cancellation to government regulation "ignores the obvious." "Aside from its being intellectually dishonest, the reflexive stoking of regional tensions is a political dead end. The Conservative party, formerly the [Read more]
Headlines
Painted Pony Announces Director Resignation
CALGARY, Oct. 6, 2017 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) announces the resignation of Peter A. Williams as a Director of the Corporation. Mr. Williams has been a key contributor to Painted Pony since he joined the Board of Directors in May 2014, specifically as Chair of the Compensation Committee and previously, as a member of the Audit Committee. The Board of Directors and the Corporation thanks Mr. Williams for his service to Painted Pony and [Read more]
Kinder Morgan pulls request for fish mats on Trans Mountain pipeline expansion
CALGARY - The company behind the proposed Trans Mountain pipeline expansion has dropped a request that the National Energy Board allow it to conduct some construction activity on the multi-billion dollar project. Last week, lawyers representing Kinder Morgan Canada subsidiary Trans Mountain asked the board for permission to install mats to deter fish spawning after the board told it last month to stop doing so. The lawyers said if the request was not granted, construction on the [Read more]
Kelt Provides Gas Marketing Update and Announces Flow-Through Equity Financing
CALGARY, AB--(Marketwired - October 06, 2017) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX: KEL) has subscribed to TransCanada Corporation's Dawn Long Term Fixed Price (LTFP) service and in addition, has entered into various natural gas sales contracts in order to provide the Company with exposure to diversified gas price hubs and reduce exposure to a single market. Effective November 1, 2017, Kelt's gas market sales portfolio will consist of the following [Read more]
Canada Weekly Rig Count Down 4 to 209
Western Canada’s fleet of drilling rigs decreased to 209 actively drilling rigs according to data collected by Baker Hughes for the week of October 6th. From one week ago, Alberta rig counts decreased from 144 to 139, the Saskatchewan rig count increased by 1 from 39 to 40. Oil drilling dropped by 1 to 112; gas rigs dropped to 97 from 100. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs for 4th week in five -Baker Hughes
The U.S. oil rig count fell for a fourth time in the last five weeks as a 14-month drilling recovery stalled as energy firms reduced spending plans in response to recent crude price declines. The oil rig count fell by two to 748 in the week to Oct. 6, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The rig count, an early indicator of future output, is much higher than a year ago when only 428 rigs were active after energy companies [Read more]
Tight oil export pipeline capacity expected to persist as Energy East cancelled
CALGARY - It's more vital than ever that three other pipelines to oil export markets proceed as planned in the wake of TransCanada Corp. (TSX:TRP) shelving its Energy East pipeline on Thursday, says AltaCorp Capital analyst Dirk Lever. Lever says Canadian producers will have to transport any incremental new oil production over the next year or so using railcars, and the pipeline transportation system out of Western Canada will remain tight for years. "We already know the next incremental [Read more]
Manitok Energy Inc. and Questfire Energy Corp. Provide Updated Information on the Proposed Plan of Arrangement
CALGARY, Oct. 6, 2017 /CNW/ - Manitok Energy Inc. ("Manitok") (TSXV: MEI) and Questfire Energy Corp. ("Questfire") (TSXV: Q.A) are pleased to provide additional information to its press release dated July 5, 2017 where Manitok and Questfire had announced that they had entered into a definitive agreement (the "Arrangement Agreement") providing for the acquisition by Manitok of all the issued and outstanding common shares of Questfire (the "Questfire Shares") pursuant to a plan of arrangement [Read more]
U.S. Gulf oil producers curtail output ahead of Tropical Storm Nate
HOUSTON (Reuters) - Oil and natural gas operators began evacuating staff and halting production at U.S. Gulf of Mexico platforms on Thursday ahead of Tropical Storm Nate, the second storm in as many months to rattle the Gulf Coast energy corridor. Nate, which has killed at least 10 people in Costa Rica and Nicaragua and caused intense rainfall, is forecast to scrape Honduras and Mexico, enter the Gulf and strengthen into a hurricane before making landfall this weekend in Louisiana, near several [Read more]
Controversial events in the history of TransCanada’s Energy East pipeline
TORONTO - TransCanada Corp. has cancelled its $15.7-billion proposed Energy East pipeline, with CEO Russ Girling citing non-specific "changed circumstances" Thursday morning. Supporters of the Calgary-based company's project — which would build and operate a 4,500-kilometre pipeline from Alberta to the East Coast — are casting the blame on costs and delays from federal government regulatory meddling, while other point to simple market forces. Here's a timeline of events in the controversial [Read more]