OTTAWA - The federal government is taking a step Tuesday to help Canada's battered energy industry. Natural Resources Minister Amarjeet Sohi and International Trade Diversification Minister Jim Carr will be at an Edmonton college campus to unveil a support package for oil and gas companies to reach new markets. The announcement is in Alberta, but the funds are available to any oil and gas companies nationwide. Premier Notley has made no secret in recent weeks of her desire to have [Read more]
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Energy assessment law needed to avoid another Trans Mountain impasse, PM says
OTTAWA - Prime Minister Justin Trudeau says he is overhauling how Canada assesses big energy projects in a bid to ensure new projects can get built without the government having to buy them to make that happen. "We're going to work to make sure that we're creating a system where you don't have to pass a law to get a pipeline built, you don't have to buy an energy project in order to de-risk it," Trudeau said in a recent interview with The Canadian Press. "We want an energy sector [Read more]
Tidewater announces TransAlta’s ownership interest in the Pioneer pipeline and dividend announcement
CALGARY, Dec. 17, 2018 /CNW/ - TransAlta Pioneer pipeline option exercise Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") is pleased to announce that TransAlta has exercised its option to acquire a 50 percent ownership interest in the Pioneer pipeline connecting the Tidewater owned Brazeau River Complex to TransAlta's generating units in the Keephills and Sundance area. Tidewater will construct and operate the 120 km natural gas pipeline, with an 11km [Read more]
Protesters boo Quebec, free trade at Calgary rally supporting oil industry
CALGARY - Angry protesters demanding that Canada build new pipelines interrupted speeches by Calgary's mayor and councillors at a downtown rally on Monday. City council had passed a resolution declaring its support for the oil and gas industry as well as calling for solutions to a low oil price crisis blamed on a lack of pipeline export capacity. But loud boos rose from the protesters at any mention of Quebec or free trade. Rally organizer Cody Battershill of Canada [Read more]
CIBC shrinks event after Whistler tries to bill oil firm for climate change
WHISTLER, B.C. - The ski resort town of Whistler, B.C., is learning that getting involved in the fight between environmentalists and oil companies can result in negative consequences. Part of CIBC's annual investment conference to be held in the community next month has been scrapped after the town council took part in a letter-writing campaign demanding oil companies compensate it for its costs related to climate change. After Whistler sent a letter to Calgary-based oilsands [Read more]
Athabasca Minerals Inc. Acquires 49.2% Interest in the Montney In-Basin Frac Sand Project
Montney In-Basin Sand Resource serving NW Alberta / NE British Columbia Liquefied Natural Gas (“LNG”) Development December 17, 2018 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“Athabasca” or the “Corporation”) (TSX Venture: ABM) has purchased 49.2% ownership of a private Alberta corporation (“Privco”) that owns the Montney In-Basin frac sand project (“MIB Project”) located in the vicinity of Dawson Creek and Fort St John. The MIB Project broadens the strategic growth and advancement of the [Read more]
Cequence Energy Announces Confirmation of Its Credit Facility Borrowing Base, the Purchase of Its $60 Million Term Loan and Provides Operational Update
CALGARY, Alberta, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce that its senior lender has completed a redetermination of the borrowing base under the Company’s senior secured credit facility (the “Credit Facility”), and has confirmed the borrowing base remains at $7 million. Other than outstanding letters of credit totalling approximately $1.5 million, the Company currently has no amounts drawn under the Credit [Read more]
Enbridge Inc. and Spectra Energy Partners, LP Complete Merger
CALGARY and HOUSTON, Dec. 17, 2018 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge), on behalf of itself and certain of its wholly owned U.S. subsidiaries, and Spectra Energy Partners, LP (NYSE: SEP) (SEP) today announced that they have completed the previously announced merger (the Merger) pursuant to an Agreement and Plan of Merger dated as of August 24, 2018 (the Merger Agreement). The Merger resulted in Enbridge (through a wholly owned subsidiary) acquiring all of the outstanding [Read more]
Baytex Announces 2019 Budget
CALGARY, Alberta, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announces that its Board of Directors has approved a 2019 capital budget of $550 to $650 million, which is designed to generate average annual production of 93,000 to 97,000 boe/d. Commenting on the announcement, Ed LaFehr, President and Chief Executive Officer, said: “As we enter 2019, our top priority is disciplined capital allocation across our strong portfolio of assets. We will focus [Read more]
Obsidian Energy Announces an Increase in its Syndicated Credit Facility and Provides an Operational Update
CALGARY, Dec. 17, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that its semi-annual borrowing base redetermination has resulted in a $30 million increase to its syndicated credit facility to $470 million. Additionally, Obsidian Energy provides an update on our latest Cardium drilling activity. Increased Syndicated Credit Facility The Company has a reserve-based syndicated credit facility, with an underlying [Read more]