CALGARY - Former U.S. secretary of state Hillary Clinton says whatever the decision on the proposed Keystone XL pipeline, it's important that Canada and the United States retain a good working relationship."I think it's important not to let whatever that decision is on one pipeline colour the potential for co-operation ... between the United States and Canada on energy production and climate change," Clinton told about 2,500 business leaders at a private event in Calgary on Thursday.She offered [Read more]
Headlines
Keystone XL ad visible on White House website
WASHINGTON - The oil and gas industry got some prime online real estate for their ad pressing President Barack Obama on the Keystone XL pipeline: The White House’s official website. Obama held a virtual town hall Thursday about Latino health care enrollment, organized by Spanish-language TV networks. To give visitors a way to watch, the White House embedded a live stream from the Fusion network on its own website. Fusion’s live stream first shows users an advertisement, known as a [Read more]
Freehold Royalties Ltd. Announces 2013 Fourth Quarter Results and Year-end Reserves
CALGARY, ALBERTA--(Marketwired - March 6, 2014) - Freehold Royalties Ltd. (Freehold) (TSX:FRU) today announced 2013 fourth quarter results and reserves as at December 31, 2013. Results at a Glance Three Months Ended Twelve Months Ended FINANCIAL HIGHLIGHTS December 31 December 31 ($000s, except as noted) 2013 2012 Change 2013 2012 Change Gross revenue 45,287 45,794 -1 % 181,578 168,134 8 % Net [Read more]
National Energy Board approves Line 9 plan
TORONTO - The National Energy Board has approved energy giant Enbridge's plan to reverse the flow and increase the capacity of a pipeline that has been running between southern Ontario and Montreal for years.The green light is subject to certain conditions and requirements.The decision on the controversial Line 9 comes some four months after the federal regulator held public hearings on the Calgary-based company's (TSX:ENB) proposal.The board says its decision enables Enbridge to "react to [Read more]
Paramount Resources Ltd. 2013 Results: Proved Reserves Up 72%; Conventional P+P Reserves Up 54%; Musreau Deep Cut Facility To Ramp-up In Q2 2014; Company Production To Reach 50,000 Boe/d In 2014
CALGARY, ALBERTA--(Marketwired - March 6, 2014) - Paramount Resources Ltd. (TSX:POU) - OVERVIEW Oil and Gas Operations Proved reserves increased 72 percent year-over-year to 87.7 MMBoe, after production of 7.6 MMBoe and dispositions of 2.2 MMBoe (replacement ratio of 6.1 times). Total proved and probable ("P+P") reserves increased 47.3 MMBoe to 227.3 MMBoe, with conventional P+P reserves increasing 54 percent to 133.8 MMBoe (replacement ratio of 7.6 times) and probable oil sands [Read more]
Saskatchewan spending $2 million on four enhanced oil recovery projects
REGINA - Saskatchewan is ponying up nearly $2 million to help find ways to push more oil out of the ground.Innovation Saskatchewan, a government agency that gives the province advice on research and development, has approved $1.9 million to develop enhanced oil recovery technologies in heavy oil fields.The money is for four projects, including two for the Regina-based Petroleum Technology Research Centre.One project involves developing technology to map the flow of oil in reservoirs, while the [Read more]
Gear Energy Ltd. Announces Increase to Bought Deal Equity Financing to $56.0 Million
CALGARY, ALBERTA--(Marketwired - March 6, 2014) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to announce that it has agreed with the underwriters for its bought-deal financing announced today to increase the size of the bought deal financing to 14,000,000 common shares from 12,500,000 common shares at a price of $4.00 per common share for gross proceeds of $56,000,000. The syndicate of underwriters is co-led by FirstEnergy Capital Corp. and Peters & Co. Limited and [Read more]
CNRL: ‘Good business sense” to curb heavy oil output while prices are low
CALGARY - Canadian Natural Resources Ltd. says it will slow down its heavy oil output whenever the price gap between that type of crude and its lighter counterpart widens substantially. President Steve Laut said Thursday it's a new strategy to work around the volatile light-heavy differential, which has caused headaches for industry and the provincial government alike. In December — when the differential was at 40 per cent — Canadian Natural (TSX:CNQ) cut heavy oil production by just over [Read more]
U.S. Department of Transport further tightens testing rules for oil trains
BILLINGS, Mont. - The U.S. government is further tightening testing requirements for companies that transport oil by rail after a spate of explosions caused by crude train derailments in the U.S. and Canada.Thursday's action from the U.S. Department of Transportation builds on a Feb. 25 order that targeted oil shipments for more stringent testing.Testing has long been required to gauge the volatility of oil and other hazardous liquids. But there were no standards on how frequently that had to be [Read more]
FirstEnergy Capital Corp. announces the appointment of John Chambers as Chief Executive Officer
CALGARY, March 6, 2014 /CNW/ - FirstEnergy Capital Corp. of Calgary is pleased to announce the appointment of John Chambers to Chief Executive Officer. FirstEnergy's current Chairman and C.E.O., Jim W. Davidson, will assume the title of Executive Chairman of FirstEnergy Capital. The strong business fundamentals and principles that FirstEnergy was built upon will remain in place. Mr. Davidson will remain actively engaged in all aspects of the business and will focus his efforts on continued [Read more]