The Alberta Energy Regulator's recent enforcement against Lexin Resources, placed a large portion of the company's assets into the care of Alberta's Orphan Well Association(OWA). Currently, in the OWA database, there are 697 wells under reclamation and 1590 wells to be abandoned--however that number will rise by several hundred after Lexin's wells are added to the list. Here is a map of wells in Alberta with the most current data from the Orphan Well Association: OWA Reclamation Site [Read more]
Headlines
Pulse Oil Corp. Provides an Update on Its Qualifying Transaction
KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2017) - Pulse Oil Corp. ("Pulse" or the "Corporation") (TSX VENTURE:PUL.H) announces the TSX Venture Exchange (the "Exchange") has conditionally approved Pulse's proposed Qualifying Transaction as previously described in news releases dated October 13, 2016, October 18, 2016 and November 30, 2016. Pulse previously executed a definitive asset purchase agreement with Hydrate Resources Corp. ("Hydrate") on November 8, 2016 and the purchase price is [Read more]
AIMCo Announces Significant Investment in Perpetual Energy Inc.
EDMONTON, Feb. 17, 2017 /CNW/ - Alberta Investment Management Corporation ("AIMCo") is pleased to announce that it has signed a letter of commitment and a subscription agreement, on behalf of certain of its clients, to enter into a strategic financing relationship with Perpetual Energy Inc., ("Perpetual") (TSE: PMT). The transaction is anticipated to close in early March 2017. Based upon the terms of the commitment letter and the subscription agreement, the financing relationship provides for [Read more]
Enbridge Inc. Reports Fourth Quarter 2016 Results
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2017) - Q4 HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Earnings were $365 million or $0.39 per common share for the fourth quarter and $1,776 million or $1.95 per common share for the full year, both including the impact of a number of unusual, non-recurring or non-operating factors Adjusted earnings were $522 million or $0.56 per common share for the fourth quarter and $2,078 million or [Read more]
Inter Pipeline Reports Record 2016 Financial Results
CALGARY, ALBERTA--(Marketwired - Feb. 16, 2017) - Inter Pipeline Ltd. (Inter Pipeline) (TSX:IPL) announced today financial and operating results for the three and twelve month periods ended December 31, 2016. 2016 Highlights Generated record funds from operations (FFO) of $849 million, a 10 percent increase over 2015 results Realized a net income increase of three percent, to a record $478 million for the year Declared annual cash dividends of $539 million, or $1.57 per share [Read more]
North Dakota Officials Haggle Over How To Pay For Pipeline Camp Cleanup
North Dakota public officials want to focus on cleaning up trash at campsites near the Dakota Access Pipeline before determining how to pay for the cleanup. Officials are worried warm weather and rapid snowmelt could cause floods around the campsites dotting the controversial project. They think the thousands of pounds of trash could pollute the Missouri River, among other waterways – officials are not concerned about how to pay for the cleanup. “With the amount of people that have been [Read more]
Enbridge and Spectra Energy Obtain FTC Clearance for their Proposed Combination
CALGARY, ALBERTA and HOUSTON, TEXAS--(Marketwired - Feb. 16, 2017) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) (Enbridge) and Spectra Energy Corp (NYSE:SE) (Spectra Energy) announced today that the U.S. Federal Trade Commission (FTC) has cleared the previously announced proposed combination of the two companies. As part of the clearance, the FTC today voted to accept a proposed consent decree in which Enbridge and Spectra Energy have agreed, following the closing of their proposed combination, to [Read more]
TransCanada Applies for Keystone XL Route Approval in Nebraska
LINCOLN, NEBRASKA--(Marketwired - Feb. 16, 2017) - Media Advisory - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it has filed an application with the Nebraska Public Service Commission (PSC) seeking approval for the Keystone XL pipeline route through the state. "This application has been shaped by direct, on-the-ground input from Nebraskans," said Russ Girling, TransCanada's president and chief executive officer. "The thousands of Nebraskans we have met over the [Read more]
TSB calls for re-evaluation of speed limits for trains carrying oil
Current speed limits for Canada's oil-carrying freight trains may be too high to prevent serious accidents and should be re-evaluated, the Transportation Safety Board said Thursday as it released the findings of its investigation into a fiery 2015 derailment in northern Ontario. The TSB said its review of the incident that dumped 1.7 million litres of crude oil into the local ecosystem has raised concerns about the existing Transport Canada rules, particularly as they apply to older [Read more]
Pembina Pipeline Corporation Announces Duvernay Infrastructure Development and Service Agreement
CALGARY, Feb. 16, 2017 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that it has entered into a 20-year infrastructure development and service agreement (the "Agreement") with Chevron Canada Limited ("Chevron"). The Agreement includes an area of dedication by Chevron, in excess of 10 gross operated townships (over 230,000 acres), concentrated in the prolific, liquids-rich Kaybob region of the Duvernay resource play near Fox Creek, [Read more]