The Alberta government has introduced legislation that creates a new Crown agency for energy efficiency, expands the scope of current climate change management funding, and creates an economy-wide price on carbon.
May 25, 2016, 6 AM MDT
Edmonton — With new carbon policies coming into place in Alberta and around the world, the oilsands industry may be questioning its future prospects, but according to two University of Alberta energy economists, there is still a place for oilsands in the global market for years to come—as long as oil prices recover, of course.
May 25, 2016, 7:24 AM MDT
In 2015, the total amount of capital raised in the Canadian oil and natural gas industry was $17.0 billion, with equity financings accounting for $10.5 billion, or 61% of the total. Debt financings accounted for the remaining $6.6 billion. Early in 2015, much of the equity raised was used to reduce debt with few companies tapping the equity markets in conjunction with an announced acquisition. As the year progressed the equity markets were supportive but selective in underwriting mergers and acquisitions (“M&A”) activity; this trend continued into 2016.
May 25, 2016, 7:17 AM MDT
The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2015, according to U.S. Energy Information Administration (EIA) estimates. U.S. petroleum and natural gas production first surpassed Russia in 2012, and the United States has been the world's top producer of natural gas since 2011 and the world's top producer of petroleum hydrocarbons since 2013.
May 25, 2016, 7:30 AM MDT
Shale gas production in Alberta continued to increase in Alberta in 2015, growing by 32.1 per cent to 5.9 million cubic metres per day (208 mmcf per day) from 4.5 million cubic metres per day (159 mmcf per day) in 2014, says the Alberta Energy Regulator (AER) in its 2015 reserves and outlook report.
May 25, 2016, 10:58 AM MDT
In light of the devastating wildfires that have affected the residents and indigenous groups in the Fort McMurray area, Environment Minister Catherine McKenna has extended by three months the timeline for the Joint Review Panel to submit its report on the proposed Teck Resources Limited $20.6 billion Frontier oilsands mine project in northern Alberta.
May 25, 2016, 6 AM MDT
The National Energy Board (NEB) has issued a board order to TransCanada Keystone Pipeline GP Ltd. to ensure that environmental protection and mitigation measures continue on the Canadian segment of the Keystone XL project despite the United States government’s refusal to issue a Presidential Permit for the U.S. segment.
May 25, 2016, 6 AM MDT
May 25, 2016, 11:32 AM MDT
Interested in expanding to Asia?
May 25, 2016, 7:09 AM MDT
Searching for strategic insight on how to break into foreign markets? Then you will want to attend one of these Alberta Export Readiness Roadshow events
May 25, 2016, 6 AM MDT
Government and industry often make the best energy bedfellows when their interests align.
May 25, 2016, 8:33 AM MDT
Packers Plus Energy Services Inc. completed a “multi-cluster” stimulation in a cemented system, which simulated plug-and-perf operations in the Meramec formation within the STACK play of Oklahoma.
May 25, 2016, 8:12 AM MDT
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Canadians are invited to provide their comments on the proposed Line 3 pipeline replacement project through a new, online questionnaire launched by the federal government.
May 25, 2016, 9:47 AM MDT
The National Energy Board (NEB) and the Canadian Energy Pipeline Association (CEPA) announced a joint committee on pipeline safety.
May 25, 2016, 10:19 AM MDT
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May 25, 2016, 8:06 AM MDT
Yangarra Resources Ltd. has closed its recently announced bought deal financing, completed by way of a short form prospectus, for the sale of 10 million common shares of the company at a price of $1 per common share, together with an additional 1.5 million common shares at a price of $1 per common share issued pursuant to the full exercise of the over-allotment option granted to the underwriters, for aggregate gross proceeds of $11.5 million.
May 25, 2016, 8:51 AM MDT
May 25, 2016, 9:59 AM MDT
Gibson Energy Inc. has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 12.95 million common shares at a price of $15.45 per common share, for gross proceeds of approximately $200 million and $100 million aggregate principal amount of unsecured subordinated convertible debentures at a price of $1,000 per debenture, for aggregate gross proceeds of approximately $300 million.
May 25, 2016, 6 AM MDT
Marquee Energy Ltd. says production declines during the first quarter of 2016 were primarily due to about 600 boe per day of shut-in non-core heavy oil and shallow gas production due to the sharp decline in commodity prices, the natural declines of existing light oil wells, and overall decreased drilling.
May 25, 2016, 6 AM MDT
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