Point Loma Resources Ltd. (TSX-V:PLX) ("Point Loma" or the "Company") is pleased to announce the appointment of Troy Wagner, P. Eng., MBA as Vice President, Acquisitions and Development. Mr. Wagner brings 25 years of diverse oil and gas experience to the Point Loma team and will enhance the Company’s technical depth. Grant of Options A total of 505,000 stock options have been issued to certain recently hired and promoted officers and employees of the Company. Of the total granted 475,000 [Read more]
Headlines
COLUMN: Peak oil demand and its implications for prices
By John Kemp LONDON, Jan 19 (Reuters) - Even if oil consumption reaches a peak and then starts to fall, the world will still need large quantities of oil for many decades to come. The prediction is contained in a thoughtful paper co-authored by Spencer Dale, chief economist of BP, and Bassam Fattouh, director of the Oxford Institute for Energy Studies. “Global oil demand is likely to continue growing for a period, driven by rising prosperity in fast-growing developing economies,” they [Read more]
NEB Establishes Generic Process to Address Provincial and Municipal Permit Issues Regarding Trans Mountain Expansion Project
CALGARY, Jan. 18, 2018 /CNW/ - Kinder Morgan Canada Limited (TSX: KML) is pleased with the National Energy Board's (NEB) decision today setting down a generic process to hear any future motions as they relate to provincial and municipal permitting issues. "Provision of a process that is open, fair and provides certainty for all parties is good news and is an important component of the assurances we need for the successful execution of the Trans Mountain Expansion Project," said Ian Anderson, [Read more]
NEB sets out dispute resolution process for Trans Mountain permits
CALGARY - The National Energy Board says it has established a process to resolve future permitting issues between the builders of the Trans Mountain pipeline expansion project and provincial and municipal authorities. The NEB says that under the new process, it will take about three to five weeks to reach a decision on future disputes for permits the project is required to get under conditions imposed on the project. Kinder Morgan Canada Ltd. (TSX:KML) had asked for a way to [Read more]
Farmers to address Supreme Court in fight against abandoned wells
TABER, Alta. - A group with the support of thousands of farmers will appear before the Supreme Court of Canada to oppose a legal ruling that allows energy companies to walk away from unprofitable wells on agricultural land. The court announced Thursday that it will hear from the Action Surface Rights Association in an appeal of the so-called Redwater decision. It allows bankrupt energy companies to abandon wells during bankruptcy proceedings without having to clean up the sites. [Read more]
Study defines link between fracking, earthquakes in northern Alberta
EDMONTON - Scientists have figured out how hydraulic fracking causes earthquakes in northern Alberta, but they have a way to go before they can use that knowledge to predict if it will cause temblors in other areas. "Right now, there isn't a good solution for how to do that with induced earthquakes," said Ryan Schultz of the Alberta Geological Survey and lead author of a paper published Thursday on the hundreds of quakes that have occurred around the Duvernay oil and gas field since [Read more]
Husky shares down after offshore oil vessel suspended due to iceberg incident
CALGARY - Shares in Calgary-based Husky Energy Inc. fell nearly seven per cent Thursday after operations aboard its SeaRose FPSO vessel off the Newfoundland and Labrador coast was ordered suspended by the federal-provincial regulator because of a close call with an iceberg last March. Husky's stock (TSX:HSE) was down $1.29, or 6.77 per cent, to $17.77 at the closing of markets, after dropping as low as $17.58 earlier in the day from Wednesday's close of $19.06. The [Read more]
Oil holds near 2014 high, supported by threat of Nigeria attack
Oil held steady above $63 a barrel on Thursday, supported by falling inventories of crude and threats of an attack on Nigeria’s petroleum industry, although a reported rise in U.S. fuel supplies weighed. Crude is within sight of its highest since December 2014, supported by supply cuts led by the Organization of the Petroleum Exporting Countries and concern that unrest in producer nations such as Nigeria could further curb output. Militant group Niger Delta Avengers threatened to attack [Read more]
TransCanada concludes open season for Keystone XL project, confirms support
CALGARY - TransCanada Corp. said Thursday that it has confirmed enough commercial support for its controversial Keystone XL pipeline thanks in part to a commitment from the Alberta government. The company said it has secured 500,000 barrels a day of 20-year commitments for the project after concluding an open season, locking up about 60 per cent of the 830,000 barrels of planned capacity. TransCanada chief executive Russ Girling thanked U.S. President Donald Trump for his [Read more]
Heritage Resource Limited Partnership – Palliser Enchant Prospect
Palliser Enchant Prospect Heritage Resource Limited Partnership is marketing fee simple mineral rights for Lease on the Palliser Block. The prospect area identifies horizontal development opportunities in the Mannville and below base Mannville by using subsurface analog data. Highlights Enchant T14/15 R15/16 W4M ~15 contiguous sections of available PNG from Top Mannville to Basement* Partial 3D/2D Seismic coverage available for review. *Details found at [Read more]