CALGARY - Ontario Premier Kathleen Wynne says what's good for Alberta's oil and gas industry is good for her province too."Oil and gas are clearly fundamental to Alberta's economy and to Canada's but also to Ontario's — and I want everyone to know that I understand that and I want to advance that," Wynne told a corporate crowd in Calgary on Friday."Many of our Ontario manufacturers now directly support your industry. I want us to build on that relationship."Wynne set a different tone than that [Read more]
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Nearly 300 oil pipeline spills went unreported to US state since 2012
BISMARCK, N.D. - North Dakota, the No. 2 oil producing state behind Texas, recorded nearly 300 oil pipeline spills in less than two years, state documents show. None of them were reported to the public, officials said. According to records obtained by The Associated Press, the pipeline spills, many of them small, are among some 750 "oil field incidents" that have occurred since January 2012 without public notification. "That's news to us," said Don Morrison, director of the Dakota Resource [Read more]
Ottawa backing off oilsands assessment
OTTAWA - The federal government appears to be backing away from any role in assessing the environmental impact of new oilsands projects. A list of the types of projects that will require a federal environmental assessment has been released and it does not include any in-situ oilsands mines. Expansions to open pit mines will still be reviewed. But 80 per cent of the resource can only be recovered using in-situ methods and that's how most new development is expected to proceed. Those [Read more]
POLL: Majority of Canadians support Keystone, oppose Northern Gateway
According to a Forum Research Poll Canadians support TransCanada's Keystone XL pipeline and oppose Enbridge's Northern Gateway. The survey sampled 1,859 random Canadians and found 42% favor Keystone, 41% oppose and 16% don't know. This is the first poll where a majority of Canadians support the pipeline. Unsurprisingly, Albertans offered the greatest level of support at 69%, BC and Quebec had the greatest opposition at 49% and 47% respectively. When it comes to Northern Gateway, Canadians [Read more]
Chevron Establishes Recoverable Resource in the Duvernay Shale Play
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced the successful conclusion of the initial exploration phase by its Canadian subsidiary, Chevron Canada Limited, in the Kaybob area of the Duvernay play, located in west-central Alberta, Canada. “This discovery creates a foundation for future growth in Canada.” Chevron Canada Limited successfully concluded the initial twelve well exploration drilling program in the liquids-rich portion of the Duvernay shale play. [Read more]
Oil consolidates near $97 after losses
BANGKOK (AP) -- Oil dwelled near $97 a barrel Friday, consolidating after two weeks of losses sparked by high supplies and patchy global economic growth. Benchmark U.S. crude for December delivery was up 20 cents at $97.31 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract, which rose 25 cents to $97.11 on Thursday, is down nearly 5 percent over the past two weeks. One factor weighing on the price was Wednesday's report from the [Read more]
North America leads the world in production of shale gas
Source: U.S. Energy Information Administration, LCI Energy Insight, Canada National Energy Board, and Facts Global Energy Note: Canadian data uses "marketable production," which is comparable to dry production. The United States and Canada are the only major producers of commercially viable natural gas from shale formations in the world, even though about a dozen other countries have conducted exploratory test wells, according to a joint U.S. Energy Information Administration [Read more]
New Saskatchewan pipeline to be redesigned after ANCIENT BONES FOUND
BETHUNE, Canada - A major pipeline project in Saskatchewan will be redesigned after ancient bones were found at the dig site.TransGas, the pipeline subsidiary of SaskEnergy, says the redesign will minimize impact to the newly discovered cultural lands near Bethune, northwest of Regina.The company says instead of open digging, it will use trenchless technology and install the new pipeline far deeper to avoid disturbing the area.TransGas says First Nations Elders and monitors will be on site to [Read more]
Advantage Announces Increase in Credit Facilities Borrowing Base to $300 Million
CALGARY, Oct. 24, 2013 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") announced today that its lenders have completed their regular semi-annual review of the credit facility borrowing base. Advantage's borrowing base will increase from $230 million to $300 million and continue to provide significant financial flexibility in support of future capital program requirements and general corporate purposes. The increase resulted from recognition of Advantage's strong third [Read more]
MEG Energy reports record quarterly production and cash flow
Operational and financial foundations in place to achieve targeted production increase of approximately 140% by early 2015 CALGARY, Oct. 24, 2013 /CNW/ - MEG Energy Corp. today reported third quarter 2013 operational and financial results. Highlights include: Record quarterly production of 34,246 barrels per day (bpd) and record year-to-date production of 32,980 bpd, 20% higher than comparative 2012 year-to-date volumes; Record quarterly cash flow from operations of $144.5 million, driven by [Read more]