In recommending federal government approval for the proposed Trans Mountain pipeline expansion, the National Energy Board (NEB) panel says it placed significant weight on the economic benefits, many of which would be realized throughout Canada, in particular British Columbia, Alberta, Ontario and Quebec.
With the long drawn-out and debated exercise that has been Kinder Morgan Inc.’s attempt to gain federal approval to expand its crude oil flow to the West Coast receiving some high-level support from the National Energy Board (NEB) yesterday, industry remains cognizant of the fact that reaching the goal-line remains a work in progress.
While seen as a victory for industry lenders, an Alberta court ruling this week could result in a sharp rise in the number of orphan wells, potentially leaving taxpayers on the hook for unfunded well abandonment costs, according to lawyers familiar with the case.
Before the CNOOC Ltd. takeover, Nexen Inc. would consistently spend millions of dollars a year on puts, ensuring a commodity floor price, says Pat Melia, director of derivatives trading at Koch Supply & Trading.
On May 17, 2016, Connacher Oil and Gas Limited (“Connacher”) obtained court protection under the Companies’ Creditors Arrangement Act (“CCAA”) pursuant to an initial order granted by the Alberta Court of Queen’s Bench. Ernst & Young Inc. was appointed as the Monitor (the “Monitor”) of Connacher for the CCAA proceedings.
Blackbird Energy Inc. has executed a binding take-or-pay gas handling agreement with a third party for the firm transportation and processing of sour natural gas produced from Blackbird's condensate-rich Elmworth project.
Manitok Energy Inc. closed the first tranche of its previously announced best-efforts private placement offering of common shares in the capital of Manitok issued at a price of 18 cents per common share, and common shares issued on a flow-through basis in respect of Canadian exploration expense under the Income Tax Act (Canada) at a price of 21 cents per flow-through share.
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