Proposed $300M Marine Terminal Represents first Major Regional Investment Directly Linked to the Energy East Pipeline Project SAINT JOHN, NB, Aug. 1, 2013 /CNW/ - Following TransCanada's announcement today to proceed with the development of the Energy East Pipeline that will transport western Canadian crude oil to Montreal, Quebec City and Saint John, Irving Oil and TransCanada announced they will form a joint venture to develop and construct the new Canaport Energy East Marine Terminal at [Read more]
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Bellatrix announces it has entered into a $200 million strategic joint venture partnership and a $52.5 million asset disposition with Daewoo International Corporation and Devonian Natural Resources Private Equity Fund
CALGARY, Aug. 1, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce it has entered into a definitive agreement for an asset sale (the "Asset Sale") and joint venture (the "Joint Venture") with Daewoo International Corporation ("Daewoo") and Devonian Natural Resources Private Equity Fund ("Devonian"). Under the terms of the associated agreements, Bellatrix will sell, effective July 1, 2013, to Devonian and Daewoo jointly 50% of the [Read more]
Suncor says production reaching new heights as it catches up after outages
CALGARY - Suncor Energy Inc. says maintenance downtime and pipeline outages had an impact on its second-quarter profits, but the company expects operations will "run reliably" for the rest of 2013."We anticipate the total production for the year will fall in the lower half of the guidance range," said chief executive Steve Williams in a conference call on Thursday."Obviously this implies strong production through the second half of the year, and that's exactly what we're [Read more]
TransCanada going ahead with Energy East line, a ‘historic opportunity’
By Lauren Krugel, The Canadian Press CALGARY – A $12-billion plan billed as an “historic opportunity” to supply eastern Canada with western crude is moving ahead, with TransCanada Corp. announcing Thursday that it has more than enough support for its Energy East pipeline. Alberta Premier Alison Redford hailed Energy East as a “nation-building project,” while critics promptly vowed to fight the proposal, which they describe as unsafe and unlikely to deliver on promises of job creation and [Read more]
Irving Oil to build new terminal for Energy East Pipeline
SAINT JOHN, N.B. - Irving Oil says it plans to build a $300-million marine terminal in Saint John, N.B., following an announcement from TransCanada Corp. (TSX:TRP) that it has decided to proceed with its Energy East Pipeline project.The private New Brunswick company issued a statement Thursday saying the Canaport Energy East Marine Terminal at its refinery in Saint John would handle crude oil flowing from western Canada and export it to world markets."The Canaport Energy East Marine [Read more]
Obama emphasizes Keystone climate implications in meeting with Democrats
WASHINGTON - U.S. President Barack Obama pointed to the global climate implications of approving TransCanada's Keystone XL pipeline during a wide-ranging Capitol Hill meeting on Wednesday with Democratic lawmakers.Facing tough questions from some of his congressional allies about an apparent reluctance to approve the project, Obama called the debate a "global issue," Maryland Sen. Ben Cardin told reporters following the meeting."He pointed out this is a global issue, even more so than [Read more]
Vermilion Energy Inc. Announces Results for the Three and Six Months Ended June 30, 2013
CALGARY, Aug. 1, 2013 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) is pleased to report interim operating and unaudited financial results for the three and six months ended June 30, 2013. HIGHLIGHTS We recorded the strongest operating quarter in our history in the second quarter of 2013. Thus far, our capital program has achieved better than anticipated results, generating production growth in all four of our business units. The [Read more]
Imperial Oil announces estimated second quarter financial and operating results
CALGARY, Aug. 1, 2013 /CNW/ - Second quarter Six months (millions of dollars, unless noted) 2013 2012 % 2013 2012 % Net income (U.S. GAAP) 327 635 (49) 1,125 1,650 (32) Net income per common share - assuming dilution (dollars) 0.38 0.75 (49) 1.32 1.94 (32) Capital and exploration expenditures 1,637 1,308 25 4,613 2,481 86 Rich Kruger, [Read more]
Suncor Energy reports 2013 second quarter results
CALGARY, ALBERTA--(Marketwired - July 31, 2013) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Effective January 1, 2013, Suncor adopted new and amended accounting standards, described in the Other [Read more]
TransCanada to Proceed with 1.1 Million Barrel/Day Energy East Pipeline Project to Saint John
CALGARY, ALBERTA--(Marketwired - Aug. 1, 2013) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) is pleased to announce it is moving forward with the 1.1 million barrel per day (bbl/d) Energy East Pipeline project based on binding, long-term contracts received from producers and refiners. The conclusion of the successful open season confirmed strong market support for a pipeline with approximately 900,000 bbl/d of firm, long-term contracts to transport crude oil from Western Canada to [Read more]