EDMONTON - Canada's ambassador to the United States says stopping the Keystone XL pipeline won't stop an increasing amount of Alberta oil from getting to the Gulf Coast. Gary Doer says shipping oil by rail south of the border has skyrocketed in the last two years with a resulting increase in greenhouse gas emissions. He says that's why he will continue to work to persuade the U.S. government to approve the Keystone pipeline from Alberta to Texas. He says it helps that decision-makers in [Read more]
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B.C. applies for intervener status at Trans Mountain pipeline hearings
VANCOUVER - The province of British Columbia has filed an application to take part in the public hearings into Kinder Morgan's proposed expansion of its Trans Mountain oil pipeline. Under an agreement signed with the federal government, the province will not conduct its own review of the project but let the federal decision stand for B.C.'s assessment as well. As an intervener, the province is on the same footing as First Nations, environmental and business groups that, under new federal [Read more]
Column: US should get ready for higher oil prices
Without the Keystone XL pipeline, the US will soon have to compete on the international market for higher priced oil By Ryan Lijdsman EDMONTON, AB/ Troy Media/ - Now that the U.S. State Department has laid to rest any scientific claim to blocking the Keystone XL pipeline, the latest argument used by anti-pipeline proponents is that the U.S. does not need Canadian oil at all. U.S. shale oil technology, they claim, has prevailed over peak oil and the U.S. has enough oil for the next 50 [Read more]
Statoil to drill off Newfoundland in summer
ST. JOHN'S, N.L. - Norwegian energy firm Statoil says it will begin exploration drilling off Newfoundland later this year. The company says the drilling will take place some time likely between July and September. Statoil announced last fall that it had discovered a reservoir of light crude believed to hold between 300 million and 600 million barrels of recoverable oil while drilling in an area known as the Bay du Nord prospect, about 500 kilometres northeast of St. John's. It was the [Read more]
Sunshine Oilsands Ltd. Announces Closing of the Private Placement of HK$76.5 Million of Common Shares and Warrants to Jin Quan Limited Under the General Mandate
CALGARY, Alberta and HONG KONG, Feb. 7, 2014 /CNW/ - CLOSING OF PRIVATE PLACEMENT TO JIN QUAN LIMITED Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) is pleased to announce today that it has completed the closing (the "Closing") of its private placement of 45,000,000 units of the Corporation (the "Units") to Jin Quan Limited ("Jin Quan") at a price of HK$1.70 per Unit (approximately CDN$0.24 per Unit) (the "Jin Quan Placement"), which was announced by the [Read more]
NDP wants urban drilling banned in Alberta
LETHBRIDGE, Alta. - The Alberta New Democrats are calling on the provincial government to ban all drilling in urban areas. NDP Leader Brian Mason spoke with Lethbridge media Thursday just two kilometres from where GoldenKey Oil wants to drill three exploratory wells. Mason said the Tory government is dragging its feet when it comes to addressing the issue. He also wants the Conservatives to undertake an independent, scientific review of fracking, its impact on water quality, air quality [Read more]
Perpetual Energy Inc. Provides Additional Information with Respect to 2014 Outlook and Sensitivities
CALGARY, Feb. 6, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is providing additional information as follows to provide further clarity with respect to its 2014 sensitivities including commodity price assumptions. OUTLOOK Perpetual's strategic priorities for 2014 are as follows: Reduce debt and manage downside risks; Grow Edson liquids-rich gas production, reserves, cash flow, inventory and value; Maximize value of Mannville heavy [Read more]
NuVista Energy Ltd. Announces 48% Increase to Year End 2013 Reserves and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Feb. 6, 2014) - NuVista Energy Ltd. (TSX:NVA) ("NuVista" or the "Company") is pleased to announce a significant increase in our reserves as a result of the 2013 year end independent reserves evaluation by GLJ Petroleum Consultants Ltd ("GLJ") (the "GLJ Report"). We are also very pleased to provide an operational update with several new 30-day production results on wells recently drilled into our Wapiti Montney condensate-rich play. This play continues to meet and [Read more]
Keystone XL as price for a U.S. debt extension? Republicans appear to back away
WASHINGTON - U.S. Republicans have apparently considered — and rejected — the idea of using a high-stakes fiscal showdown to force the construction of the Keystone XL pipeline. There had been reports that Republicans in Congress contemplated demanding approval for the pipeline in exchange for their votes to raise the U.S. debt ceiling in the coming weeks — but that they couldn't agree on it, or any other, debt strategy. The top Republican in the House of Representatives didn't deny those [Read more]
Aurora enters into agreement for proposed acquisition by Baytex for A$4.10 cash per share
TSX and NYSE listed Baytex proposes to acquire 100% of Aurora via a Scheme of Arrangement ('Scheme') Scheme price of A$4.10 cash per Aurora share ('Scheme Consideration'), implying a market capitalisation of A$1,840 million The Scheme Consideration represents a 52% premium to Aurora's one-week VWAP to 6 February 2014, being the last trading day before execution of the Scheme Implementation Deed, and a 46% premium to Aurora's one-month VWAP Aurora Directors unanimously recommend Aurora [Read more]