Kinder Morgan Canada Ltd has complied with an order by the country's National Energy Board (NEB) to stop some work on its Trans Mountain pipeline expansion, the regulator said on Thursday. The company has told the NEB it will stop installing mats to stop fish from spawning along the C$7.4 billion ($5.9 billion) pipeline project - work that had "not yet been authorized," the regulator said in a statement on its website. Kinder Morgan Canada, a unit of Houston-based Kinder Morgan Inc , did [Read more]
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Cenovus Energy files for $7.5 billion mixed shelf offering
Canadian oil and gas producer Cenovus Energy filed a mixed shelf offering for $7.5 billion with Canada and U.S. regulators on Thursday, although the company said it currently has no plans to issue more debt or equity. In a mixed shelf a company may sell securities in one or more separate offerings without filing a prospectus for each one. The filing does not necessarily mean the securities will be sold. Cenovus spokesman Reg Curren said the filing is a "corporate housekeeping [Read more]
Traverse Energy Ltd. Announces Duvernay Shale Basin Activity
CALGARY, Alberta, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Traverse Energy Ltd. (the “Corporation”) (TSX Venture:TVL) is pleased to announce a new prospect area. The Company has accumulated 51,920 net acres (81 sections) of 100% land prospective for light oil in the Duvernay shale basin in central Alberta. Traverse expects to drill its first evaluation well early in the fourth quarter of 2017 in the Chigwell area. The 4,500 meter horizontal well is currently being licensed and a drilling rig has been [Read more]
World needs new offshore oil investments to avoid shortages: Hess
HOUSTON (Reuters) - Higher investments in offshore oil production are critical to avoiding a supply squeeze by 2020, as expanding shale output will not match projected demand increases in the next few years, U.S. oil producer Hess Corp said on Thursday. The past four years of low oil prices have major producers pulling back on needed offshore investment, and the gap between supply and demand should help prices rebound, Hess Chief Operating Officer Greg Hill said at an energy conference at Rice [Read more]
Court rules in favour of Suncor on random drug testing; union to keep fighting
CALGARY - Energy giant Suncor Energy has won another victory in a years-long legal battle over random drug and alcohol testing at its northeastern Alberta oilsands sites. Suncor (TSX:SU) started randomly testing staff in safety-sensitive jobs in 2012, but the union representing many of those workers called it an infringement of privacy. The majority of an arbitration tribunal ruled in favour of Unifor in 2014, but last year Alberta Court of Queen's Bench Justice Blair Nixon [Read more]
Questerre announces proposed private placement
CALGARY, ALBERTA--(Marketwired - Sept. 28, 2017) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) is pleased to announce that it intends to complete a private placement directed towards Norwegian and international institutional investors (the "Private Placement"). The Company intends to use the net proceeds from the Private Placement to strengthen its working capital, partially finance its ongoing Montney capital program and the preliminary work for its [Read more]
Pembina Pipeline Corporation Announces Phase V Pipeline Expansion Update
CALGARY, Sept. 28, 2017 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that in order to accommodate incremental volume commitments from customers, the Company is adding additional infrastructure and increasing operational flexibilities to its previously announced Phase V pipeline expansion ("Phase V"), which included a 20 inch pipeline from Lator to Fox Creek, Alberta. The Company is also revising its capital cost estimate for Phase V by [Read more]
Convega Energy Ltd.: 100% operated working interest divestiture
Western Divestments Inc. has been retained by Convega Energy Ltd. to assist in the sale of its 100% operated working interest at Cessford, Alberta in T24 R13/14 W4M. Located approximately 200 km east of Calgary, the property consists of just over 640 acres of crown land with P&NG rights from Surface to Base Mannville excl. NG in the Colorado and Blairmore Formations. There are no overrides and no ROFR’s associated with this property. There are seven wells on the property four of which [Read more]
Oil price rise insufficient to boost Canadian oilpatch spending, analysts agree
CALGARY - A recent surge in oil prices will boost the bottom line of Canadian oil and gas producers but remains well below the minimum level needed to encourage increased investments in the oilsands or conventional oil and gas, energy analysts say. U.S. benchmark West Texas Intermediate crude prices recovered Wednesday to US$52.14 per barrel after sliding Tuesday but stopped short of the five-month-high close of US$52.22 per barrel on Monday, which was up more than 20 per cent from lows [Read more]
Court tells Ottawa to reconsider pipeline approval on B.C. reserve
VANCOUVER - The Federal Court of Appeal has set aside a government decision approving the expansion of Kinder Morgan's oil pipeline through the Coldwater Indian Band reserve south of Merritt, B.C. In a split decision, the three-judge panel ruled the federal minister of aboriginal and northern affairs failed to assess the impacts of a pipeline easement on the Coldwater band. The ruling says the minister had a continuing duty to protect the band's interests on its reserve from an [Read more]