Although growth in Canadian crude oil production will be less than previously forecast, new pipelines are still required to move mounting volumes which will increase 28 per cent to 4.9 million bbls per day by 2030, says the Canadian Association of Petroleum Producers (CAPP).
June 23, 2016, 12:02 PM MDT
The Alberta government’s June 22 land sale brought $16.07 million into government coffers, the highest so far at a single sale in 2016.
June 23, 2016, 9:40 AM MDT
June 23, 2016, 11:30 AM MDT
Enerplus Corporation says if pricing expectations continue it will boost capital spending in the next couple of years and possibly this year, the company said during its investor day this week.
June 23, 2016, 6 AM MDT
Oil and gas producers are in the midst of the worst downturn in a generation. While producers are accustomed to the cyclical nature of the industry, amendments the Alberta Energy Regulator (AER) made to the Licensee Liability Rating Program (LLR) in 2013 (the "2013 Amendments") have created additional challenges in this downturn for producers with limited liquidity. On June 20, 2016 the AER released Bulletin 2016-16 outlining a new policy with regards to how the AER will administer the LLR program which will have a major impact on the financial viability and strategic options of many producers.
June 23, 2016, 7:56 AM MDT
The wildfires in Alberta helped to slash Canadian oil production to only 3.5 million bbls per day in May, its lowest level since June 2012. At its peak in early May, a total of 1.3 million bbls per day of production was shut in, and an estimated 865,000 bbls per day of output disrupted on average for the month, the International Energy Agency (IEA) recently reported.
June 23, 2016, 8:04 AM MDT
June 23, 2016, 10:33 AM MDT
June 23, 2016, 6 AM MDT
June 23, 2016, 10:34 AM MDT
Mosaic Energy Ltd. (the “Company” or “Mosaic”) is a privately owned company incorporated under the law of the Province of Alberta and Canada Business Corporation Act.
June 23, 2016, 6 AM MDT
When Canadian, American and Mexican leaders meet in Ottawa next week, they should build on their relative political climate change alignment with a co-ordinated plan that includes a continent-wide pledge to reduce methane emissions, a commitment to show co-ordinated leadership in international forums, and an agreement to consider the cost of carbon in long-term decision-making, says a newly-released report.
June 23, 2016, 11:04 AM MDT
Having challenges sustaining the necessary working capital required to maintain your wells producing?
June 23, 2016, 6 AM MDT
June 23, 2016, 9:03 AM MDT
Imperial Oil Limited has received final acceptance from the Toronto Stock Exchange for a new normal course issuer bid to continue its existing share repurchase program that will expire on June 24, 2016.
June 23, 2016, 6 AM MDT
June 23, 2016, 9:02 AM MDT
The federal government’s 2016 budget provided $50 million over two years to support the development of clean technologies for Canada's oil and gas sector.
June 23, 2016, 6 AM MDT
The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) permitted Shell Canada to resume drilling with restrictions at its Cheshire L-97 exploration well.
June 23, 2016, 8:18 AM MDT
Whitecap Resources Inc. has now closed its previously announced acquisition of premium oil assets in southwest Saskatchewan for cash consideration of $595 million.
June 23, 2016, 8:50 AM MDT
Suncor Energy Ventures Holding Corporation (formerly Canadian Oil Sands Limited) announced today the results of its tender offers to purchase for cash any and all of its outstanding 7.75 per cent senior notes due 2019, 7.9 per cent senior notes due 2021, 4.500 per cent senior notes due 2022, 8.20 per cent notes due 2027 and 6.000 per cent senior notes due 2042.
June 23, 2016, 8:32 AM MDT
Baytex Energy Corp. announced that certain of its indirect subsidiary entities have received reassessments from the Canada Revenue Agency that deny non-capital loss deductions relevant to the calculation of income taxes for the years 2011 through 2015.
June 23, 2016, 6 AM MDT
Twin Butte Energy Ltd.’s bank syndicate has again agreed to extend the maturity date of the company’s $85 million non-revolving credit facility by one day from June 22, 2016 to June 23, 2016 and the expiry of the revolving period of Twin Butte's $140 million revolving credit facility by one day from June 22, 2016 to June 23, 2016 to enable the company to continue with its strategic alternatives process.
June 23, 2016, 6 AM MDT
Xtreme Drilling and Coil Services Corp.’s previously announced sale of its XSR coiled tubing drilling and coiled tubing assets to Schlumberger for C$205 million has been completed.
June 23, 2016, 10:12 AM MDT
June 23, 2016, 10:05 AM MDT
June 23, 2016, 10:06 AM MDT
June 23, 2016, 10:35 AM MDT
June 23, 2016, 10:36 AM MDT
The board of directors of Hong Kong-traded Sunshine Oilsands Ltd. says it has completed the closing of 40 million common shares under the specific mandate at a price of approximately C12.4 cents per common share for which it has received approximately $4.96 million at current exchange rates.
June 23, 2016, 11:25 AM MDT
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