WASHINGTON - Not even the U.S. president can save the Keystone XL pipeline project now — at least not by himself. The long-delayed plan suffered a major setback Wednesday when a Nebraska district judge ripped up a state law that could have forced landowners to allow the pipeline through their property. The ruling opens up the prospect of more regulatory hurdles, complicated negotiations with landowners, legal fights and fresh delays, regardless of whether or not Barack Obama ever approves [Read more]
Headlines
Arctic reindeer reserve eyed for oil and gas
OTTAWA - Tracts of land that had been set aside for reindeer grazing in Canada's North have instead been offered up by the Conservative government for oil and gas exploration, newly released documents show. Companies interested in obtaining petroleum exploration rights in the Mackenzie Delta and Beaufort Sea region of the Northwest Territories were asked last year to nominate blocks of land that they wanted to see included in a subsequent call for bids. Reindeer-grazing reserves near the [Read more]
TransCanada Reports 19 Per Cent Increase in 2013 Comparable Earnings Increases Common Share Dividend by Four Per Cent
CALGARY, ALBERTA--(Marketwired - Feb. 20, 2014) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) today announced comparable earnings for fourth quarter 2013 of $410 million or $0.58 per share compared to $318 million or $0.45 per share for the same period in 2012. For the year ended December 31, 2013, comparable earnings were $1.6 billion or $2.24 per share compared to $1.3 billion or $1.89 per share in 2012. Net income attributable to common shares for fourth quarter [Read more]
Hemisphere Energy Announces 80 BOPD From First Atlee Buffalo Well
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 20, 2014) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce production rates from its first well in the Atlee Buffalo area of southeast Alberta. Hemisphere's first horizontal well in Atlee Buffalo targeted the oil-bearing sandstones of the Glauconitic formation. The well was recently completed, tied in and placed on production with an initial pumping rate over the last 10 days of approximately 80 barrels of oil per day [Read more]
Obama presses Harper on climate change sit-down at Three Amigos Summit
TOLUCA, MEXICO, Mexico - U.S. President Barack Obama used the podium of the Three Amigos summit on Wednesday to push Prime Minister Stephen Harper to work with him on reducing greenhouse gas emissions, saying the science that supports climate change can't be denied.Obama gave Harper a primer on reducing greenhouse gases as he answered a question about why he has not approved the Keystone XL pipeline."Stephen and I, during a break after lunch, discussed a shared interest in working together [Read more]
Waldron Energy Corporation Announces Termination of Plan of Arrangement With Montana Exploration Corp., Reserves and Operations Update and 2014 Guidance
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2014) - Waldron Energy Corporation ("Waldron" or the "Corporation") (TSX:WDN) announces that the Plan of Arrangement (the "Transaction") with Montana Exploration Corp. ("Montana") originally announced on July 31, 2013 has been terminated as a result of Montana failing to complete the financings necessary to close the Transaction. The Board of Directors of Waldron thanks the Waldron shareholders for their patience throughout the proposed Transaction and [Read more]
B.C. premier brushes aside doubts about pace of liquefied natural gas plans
VANCOUVER - British Columbia Premier Christy Clark insisted Wednesday it's still possible her much-hyped vision for liquefied natural gas could start bringing in cash in three years' time, a day after her own finance minister appeared to temper those expectations.Clark won last year's provincial election in large part on a promise to foster a trillion-dollar LNG industry that she said could create more than 100,000 jobs and wipe out B.C.'s debt. The province would start collecting LNG revenues, [Read more]
Zargon Oil & Gas Ltd. Provides A Little Bow ASP Project Update, an Operational Update and 2013 Year End Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2014) - Zargon Oil & Gas Ltd. (the "Company" or "Zargon") (TSX:ZAR) (TSX:ZAR.DB) is pleased to provide a Little Bow Alkaline Surfactant Polymer ("ASP") tertiary oil recovery project update, an operational update, 2014 production and capital guidance and 2013 year end reserves. Zargon intends to release its 2013 audited financial results on March 11, 2014, after market close. LITTLE BOW ASP PROJECT UPDATE: Zargon has commenced commissioning the [Read more]
Tourmaline Grows Year-End Reserves and Reserve Value by Over 40%; Increases 2014 Guidance
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2014) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to provide the following operations and financial update and highlights from its year-end 2013 independent reserve evaluation. Reserve Highlights Total year-end 2013 Proved plus Probable (2P) reserves of 590.1 mmboe after only five full years of operation. Total 2P reserve additions of 179.4 mmboe in 2013, representing 41% growth over 2012 total 2P reserves before [Read more]
B.C.’s LNG plans ‘behind schedule’: experts
VANCOUVER - An expert on the liquefied natural gas industry says B.C. Premier Christy Clark's plans for a booming liquefied natural gas industry are behind schedule. Clark was re-elected last year, in part, on her vision of a trillion-dollar LNG industry that would create tens of thousands of jobs and wipe out the province's debt. The premier previously said LNG money would flow into a debt-payment fund by 2017, but Finance Minister Mike de Jong tempered those predictions in his budget [Read more]