TSX-V: HME VANCOUVER, May 8, 2017 /CNW/ - Hemisphere Energy Corporation ("Hemisphere" or the "Company") (TSX-V: HME) is pleased to announce the renewal of its credit facility. Following the annual review with its lender, the borrowing base under Hemisphere's credit facility was reaffirmed and maintained at $12.5 million. All covenants and applicable margins on borrowing costs remain unchanged. As at May 5, 2017, the Company has drawn approximately $10.2 million on the credit [Read more]
Headlines
Suncor files for approval of 160,000-bpd Lewis thermal oilsands project
CALGARY - Suncor Energy (TSX:SU) says it will apply this year for provincial regulatory permission to build a new Alberta oilsands project that could eventually produce up to 160,000 barrels per day. The Lewis project hasn't been officially sanctioned by Suncor, but the company says construction on its first phase may begin in 2024. The project is located about 25 kilometres northeast of Fort McMurray in northern Alberta. Suncor says it will consider using new [Read more]
Husky resumes clean up after major oil spill in Saskatchewan last summer
REGINA - Husky Energy is going to see how much more oil — if any — can be cleaned up from a major spill last July along the North Saskatchewan River. The company has started more shoreline cleanup and assessment of the leak, which spilled 225,000 litres of heavy oil mixed with diluent onto the bank of the river near Maidstone, Sask., last July. About 40 per cent reached the river and the oil plume flowed hundreds of kilometres downstream. About 93 per cent of the oil was cleaned [Read more]
Inter Pipeline Announces Strong First Quarter 2017 Financial and Operating Results
CALGARY, Alberta, May 08, 2017 (GLOBE NEWSWIRE) -- Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced strong financial and operating results for the three month period ended March 31, 2017. First Quarter Highlights Funds from operations (FFO) totalled $247 million, a 33 percent increase over first quarter 2016 FFO for the Natural Gas Liquids (NGL) processing business segment set a new record of $82 million, an increase of $58 million over the same period last year Net [Read more]
Yesterday’s evil, today’s green energy: the curious ethical transformation of hydroelectric power
When I was a kid, environmentalists were into fish. Other things too, but fish were a big deal. The world’s seas were being over-harvested and many eco-battles were being waged to save the natural habitats of fish and protect spawning grounds. The battle of good vs. evil at the time (or one of them anyway) was between nature lovers and greedy industrialists who were willing to dam rivers for hydroelectric projects. That was the choice at the time: a fight between money, development and the [Read more]
Madalena announces successful completion of its strategic alternatives process
(All dollar figures are expressed in United States Dollars, unless otherwise noted) CALGARY, May 8, 2017 /PRNewswire/ - Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTCQX: MDLNF) is pleased to announce the successful completion of the strategic alternatives process which it initiated in June of 2016. On May 8, 2017, Madalena entered into a series of agreements with Hispania Petroleum S.A., ("Hispania") a private, family-owned Spanish energy company which has operated in [Read more]
The “R” word sounds sour note in B.C.’s Northeast
Tyler Kosick’s family has been in the trucking business up north for decades and it’s fair to say he’s heard some pretty salty language in his day. But there’s one word floating around this election campaign that sounds particularly foul to him and a lot of other folks in communities with resource-based economies. That’s the “R” word. “R” in this case stands for “review” and when it’s coupled with “oil and gas subsidies” in the NDP platform, well… it’s like dropping an F-bomb in front of [Read more]
Toscana Energy Announces First Quarter 2017 Results
CALGARY, Alberta, May 05, 2017 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX:TEI) announces financial and operating results for the first quarter ended March 31, 2017. Financial and operating results: This news release summarizes information contained in the Condensed Consolidated Interim Financial Statements (unaudited) and Management’s Discussion and Analysis (“MD&A”) for the three-month period ended March 31, 2017. This news release should not [Read more]
Canada Weekly Rig Count Down 3 to 82
Western Canada’s fleet of drilling rigs are slowing down on account of seasonality in the drilling business with only 82 actively drilling according to data collected by Baker Hughes for the week of May 5. Drilling activity is starting to slow down, but still very active in comparison to last year’s count. Will will see a continued drop in activity due to the upcoming spring breakup. Rigs activity will stay low likely until June, when activity will start to pick up again. From one week [Read more]
History on Repeat: Alberta’s Coming Stand-off with Trudeau
The Prairie provinces have had a complicated relationship with the federal government. The source of the West’s traditionally stormy relations with Ottawa can nearly always be traced back to jurisdictional control over the West’s natural resources. In similar fashion to Quebec’s neuroticism over issues of cultural identity, federal incursion into Alberta’s energy affairs has irrevocably shaped its political consciousness. The evolution of this feud can be encapsulated by three separate [Read more]