CALGARY - The Canadian company whose proposal to build an LNG export terminal in Oregon was derailed by U.S. regulators last year has resubmitted its application for a bigger, more expensive project. Calgary-based Veresen Inc. (TSX:VSN) said Thursday its Jordan Cove project is now estimated to cost about US$10 billion to build, up from US$7.5 billion under its previous proposal, and would have capacity of 7.8 million tonnes per year, up from six million. The project includes a [Read more]
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Oil prices steady ahead of OPEC meeting on supply cut extension
Oil prices held steady in early Asian trade on Friday as the market waited to see whether major oil producers would extend supply cuts beyond March at a meeting in Vienna later in the day. International benchmark Brent crude futures were at $56.40 a barrel at 0046 GMT, down 3 cents, or 0.05 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 7 cents, or 0.14 percent, at $50.62 per barrel. The Organization of the Petroleum Exporting Countries (OPEC) and [Read more]
Veresen Announces Filing of FERC Applications for Jordan Cove Energy Project and Pacific Connector Gas Pipeline
CALGARY, ALBERTA--(Marketwired - Sept. 21, 2017) - Veresen Inc. ("Veresen") (TSX:VSN) is pleased to announce Jordan Cove Energy Project ("Jordan Cove") and Pacific Connector Gas Pipeline ("Pacific Connector") have filed applications with the United States Federal Energy Regulatory Commission ("FERC") for the construction and operation of a 7.8 million tonne per annum liquefied natural gas ("LNG") export terminal in Coos Bay, Oregon and the related Pacific Connector that will transport natural [Read more]
Veresen Announces Long-Term Recontracting of AEGS
CALGARY, ALBERTA--(Marketwired - Sept. 21, 2017) - Veresen Inc. ("Veresen") (TSX:VSN) announced that its 100%-owned Alberta Ethane Gathering System ("AEGS") has entered into 20-year take-or-pay transportation agreements for approximately 95% of the existing capacity on the system effective January 1, 2019. Under the new agreements, tolls have been increased to reflect the value of the service provided to customers while continuing to provide for the recovery of operating costs. AEGS will [Read more]
Harvest Operations Corp. Announces Closing of U.S. $285 Million 3% Senior Note Offering
CALGARY, ALBERTA--(Marketwired - Sept. 21, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") is pleased to announce that it has closed its offering of U.S.$ 285 million senior unsecured notes due 2022 with a coupon rate of 3% (the "Notes"). Harvest intends to use the net proceeds of the offering to repay in full Harvest's outstanding approximately U.S.$282,500,000 aggregate principal amount of 67/8% Senior Notes due October 1, 2017. Approval in-principle has been received from [Read more]
Heritage Royalty: Palliser Q3 2017 Prospects
Heritage Resource Limited Partnership referred to as “Heritage” is marketing fee simple mineral rights for Farmout/Lease with respect to a Mannville prospect on the Palliser Block. The prospect areas identify horizontal development opportunities in the Mannville Group by using subsurface analog data. Highlights Tide Lake North T18/19 R11/12 W4M 35.5 contiguous sections of available PNG in Mannville* Partial 3D/Full 2D Seismic coverage available for review. *Details found at [Read more]
Hemisphere Energy Commences Development Program and Grants Incentive Stock Options
TSX-V: HME - VANCOUVER, Sept. 21, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that it has initiated its fall development program and has granted incentive stock options. Development Program Hemisphere has commenced its previously announced drilling program consisting of seven wells in the Atlee Buffalo area of southeast Alberta (news release dated September 15, 2017). Of these seven horizontal development wells, drilling [Read more]
Chinook Energy Inc. Provides Birley/Umbach Operational Update
CALGARY, ALBERTA--(Marketwired - Sept. 20, 2017) - Chinook Energy Inc. (TSX:CKE) ("Chinook") is pleased to provide the following operational update on its Birley/Umbach property. During the second quarter of 2017, Chinook successfully completed a four well (3.63 net) (the a-81-F, b-90-G, 02/d-5-K, and b-14-K wells) drilling program at Birley/Umbach with average drilling costs of approximately $1.55 million per well ($1.38 million, net). The wells were subsequently completed during the third [Read more]
Energy contract lawsuits expected to jump in Harvey’s wake
HOUSTON (Reuters) - Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing some oil production offline. Hurricanes and other natural disasters can affect the energy industry’s ability to honor contracts related to oil and natural gas production, transport and oilfield services. Force majeure is a legal declaration that means the operator cannot fulfill a [Read more]
Keyera Closes $400 Million Private Placement Debt Financing
CALGARY, Sept. 20, 2017 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced CAD$400 million private placement of 10-year senior unsecured notes (the "Notes") with a group of institutional investors in Canada and the United States. The Notes will bear interest at 3.68% and mature on September 20, 2027. Proceeds from the Notes will be used to repay short-term debt incurred to execute Keyera's capital program and for general corporate [Read more]