CALGARY - Canadian politicians whose jurisdictions could benefit from a proposed multibillion-dollar oil pipeline are accusing the country's energy regulator of creating uncertainty about the future of the proposed project. TransCanada Corp. (TSX:TRP) put its application to build the $15.7-billion Energy East pipeline on hold this week after the National Energy Board said it would consider indirect greenhouse gas emissions in evaluating the 4,500-kilometre pipeline from Hardisty, Alta., [Read more]
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TransCanada may abandon Energy East pipe facing tougher review
CALGARY, Alberta (Reuters) - TransCanada Corp (TRP.TO) will suspend the application for its Energy East pipeline for 30 days and may abandon the project, the company said on Thursday, weeks after Canada’s National Energy Board (NEB) regulator announced a tougher review process. TransCanada will do a “careful review” of the new assessment process to gauge its effect on the costs, schedules and viability of the pipeline to the Atlantic coast, the company said in a statement. The NEB in August [Read more]
TransCanada Seeks 30-day suspension of Energy East Pipeline and Eastern Mainline Project Applications
CALGARY, ALBERTA--(Marketwired - Sept. 7, 2017) - News Release - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) announced today it has filed a letter with the National Energy Board (NEB) seeking a 30-day suspension of the Energy East Pipeline and Eastern Mainline Project applications. The suspension will allow time to conduct a careful review of recent changes announced by the NEB regarding the list of issues and environmental assessment factors of the projects while understanding how [Read more]
Indigenous protesters build tiny homes in Trans Mountain pipeline’s path
CHASE, B.C. - First Nations protesters in British Columbia are planning to place tiny homes directly in the path of the Trans Mountain pipeline expansion, an idea drawn from an influential Indigenous movement in the United States. Activists say the houses are symbols of sustainability in the face of what they see as an environmentally damaging project. They are based on structures built at a sprawling protest camp in North Dakota initiated by the Standing Rock Sioux Tribe. The [Read more]
In sign of oil rebalancing, North Sea floating storage shrinks
LONDON, Sept 7 (Reuters) - The volume of global price benchmark North Sea crude being held in floating storage has declined sharply since mid-August, according to shipping data and trade sources, a sign that a long-awaited market rebalancing is gaining momentum. Two supertankers being used to store North Sea crudes offshore the UK, Desimi and Gener8 Neptune, contain about 4 million barrels of oil, trade sources said. Three weeks ago, the total was closer to 10 million barrels. The clearing of [Read more]
Duvernay Rights Divestiture – East Shale Basin, Alberta – Forge Oil & Gas Limited
Sayer Energy Advisors has been engaged to assist Forge Oil & Gas Limited (“Forge” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Huxley and Bonnie Glen areas of Alberta (the “Properties”). The Huxley lands are located within the Ghost Pine Embayment and the Bonnie Glen lands are within the Westerdale Embayment (collectively the “East Shale Basins”) of Alberta. Rights available consist of all P&NG from the Base of Mannville to Basement. In [Read more]
Pengrowth Reaches Agreement to Sell Remaining Swan Hills Properties for $150 Million
CALGARY, ALBERTA--(Marketwired - Sept. 6, 2017) - Pengrowth Energy Corporation (the "Company" or "Pengrowth") (TSX:PGF) (NYSE:PGH) today announced that it has entered into an agreement for the sale of its remaining Swan Hills assets in North Central Alberta for total cash consideration of $150 million, subject to customary adjustments. When combined with the approximate $18 million deposit from the initial sales process which was terminated on July 11, 2017, total consideration for the sold [Read more]
Tidewater Midstream and Infrastructure Ltd. Extends and Increases Take-or-Pay Processing Agreement at Brazeau River Complex
CALGARY, Alberta, Sept. 06, 2017 (GLOBE NEWSWIRE) -- Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Company") (TSX VENTURE:TWM) is pleased to announce that in its ongoing effort to maximize utilization and secure long-term volumes it has extended the term of a take-or-pay processing agreement by an additional two years to December 2020 and increased the volume commitment by approximately 10 MMcf/d to 30 MMcf/d with provision to deliver volumes up to 45 MMcf/d throughout the [Read more]
Calgary energy brokers launch consolidated crude index
Two Calgary energy brokers have joined forces to start a Canadian crude index that consolidates their trading data and will be published by energy information firm Enerdata, the companies said on Wednesday. One Exchange and Marex Spectron say aggregating their indices into one will provide more clarity in the Canadian cash market, greater liquidity and more accurate benchmark pricing for trading financial contracts. At present the Canadian crude market is served by a number of brokers [Read more]
Trans Mountain announces contractors for expansion project
CALGARY, Sept. 6, 2017 /CNW/ - Kinder Morgan Canada Limited (TSX:KML) is pleased to announce that Trans Mountain has selected or signed memorandums of understanding with six contractors with experience delivering pipeline and major infrastructure projects in British Columbia and Alberta, in anticipation of planned construction activities in September 2017. The pipeline construction and associated terminal expansions are expected to take approximately 28 months to complete, with the work [Read more]