OTTAWA - Yet another railway fire involving crude oil has prompted the chief executive officer of CN Rail to suggest that long-overdue regulatory changes to the tank cars used to transport dangerous goods will be introduced soon.What is being called a controlled burn had been raging for more than 18 hours in northwestern New Brunswick late Wednesday after 17 cars on a CN train — some carrying propane, others crude oil — derailed and caught fire.It is the fifth significant railway accident in [Read more]
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ARC Resources Ltd. achieves record production levels
CALGARY, Jan. 8, 2014 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") announced today that it estimates fourth quarter production to be approximately 100,000 boe per day. This is record quarterly production volumes for ARC and is expected to contribute to record annual production of approximately 96,000 boe per day; meeting ARC's production guidance announced with its 2013 budget. ARC's strong production performance is a significant achievement given the divestment of approximately 1,700 boe per [Read more]
Long Run Exploration Ltd. Announces $75 Million Bought Deal Convertible Debenture Offering
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2014) - Long Run Exploration Ltd. (TSX:LRE) ("Long Run" or the "Company") is pleased to announce that it has entered into an agreement to sell, on a bought deal basis to a syndicate of underwriters co-led by National Bank Financial Inc. and Scotia Capital Inc., $75 million aggregate principal amount of 6.40% convertible unsecured subordinated debentures, due January 31, 2019 (the "Debentures") at a price of $1,000 per Debenture (the "Offering"). The [Read more]
European Union makes carbon emitting more expensive
BRUSSELS - It will become more expensive for businesses in the European Union to burn fossil fuels this year after the 28-country bloc decided Wednesday to beef up its carbon trading system. The agreement ended a year of bickering over how to amend what is Europe's prime tool in the fight against climate change and the world's biggest emission trading system. Under the cap-and-trade scheme, companies pay per ton of carbon dioxide they release into the atmosphere, with the pollution [Read more]
Keyera to Expand C3+ Fractionation Capacity at Fort Saskatchewan
CALGARY, Jan. 8, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it is proceeding with an expansion at its NGL fractionation and storage facility in Fort Saskatchewan ("KFS"). The project will involve more than doubling the facility's existing C3+ fractionation capacity from 30,000 barrels per day to 65,000 barrels per day. In conjunction with the fractionator, the project will include the construction of new product receipt facilities, operational storage and pipeline [Read more]
Inter Pipeline Announces Appointment of New Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2014) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) is pleased to announce that Brent Heagy has been appointed Chief Financial Officer effective March 1, 2014. Mr. Heagy will replace Bill van Yzerloo, whose planned retirement was disclosed earlier in 2013. Mr. Heagy joins Inter Pipeline from Athabasca Oil Corporation where he served as Chief Financial Officer. In a career spanning more than 30 years, Mr. Heagy has extensive experience in the [Read more]
Manitok Energy Inc. Achieves New Monthly Average Production Record of 5,550 boe/d in December 2013
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2014) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to provide an update on its latest operations. Production Based on field estimates, Manitok's production averaged 5,550 boe/d (58% oil and liquids) over the month of December 2013, which is a record high production month for the Corporation and exceeds Manitok's previously provided 2013 exit guidance of 5,300 - 5,500 boe/d. The [Read more]
Athabasca Oil Corporation Announces Management Change
CALGARY, Jan. 8, 2014 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") announces that Kim Anderson has accepted an appointment to become the Company's Chief Financial Officer, replacing Brent Heagy who has chosen to leave the Company to pursue an opportunity as a CFO with Inter Pipeline Ltd. Mr. Heagy will be staying with the Company until mid-February in order to ensure a smooth transition of his responsibilities. Ms. Anderson and Mr. Heagy have previously worked [Read more]
Questerre Appoints Frank Walsh as COO and Builds Out Montney Team
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2014) - Questerre Energy Corporation">Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) is pleased to announce that it has appointed Frank Walsh as Chief Operating Officer in addition to three other new senior management members. Michael Binnion, President and Chief Executive Officer, commented, "We are pleased we have established an experienced Montney team. Mr. Walsh has a proven track record in [Read more]
Train with oil, gas derails in New Brunswick
PLASTER ROCK, N.B. - A CN freight train carrying crude oil and propane derailed Tuesday night in a sparsely populated region of northwestern New Brunswick, forcing the evacuation of about two dozen homes after a fire that the rail company described as "significant." CN spokesman Jim Feeny said 16 cars derailed near the village of Plaster Rock and of those, 15 are toward the end of the train and in the area of the fire. Four are carrying propane and another four are carrying crude oil, Feeny [Read more]