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Oct 17, 2012

Penn West lines up buyers for C$1.3 billion of assets

By Maneesha Tiwari and Jeffrey Jones

(Reuters) – Penn West Petroleum Ltd (PWT.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday it has lined up buyers for C$1.3 billion ($1.3 billion) worth of Canadian oil and gas assets, making good on plans to jettison non-core properties and use proceeds to cut debt.

Penn West, one of Canada’s largest conventional oil and gas producers, also disclosed new reserve assessments for its emerging light oil and bitumen prospects, one of which it is developing in a joint venture with China Investment Corp CIC.UL. They suggest total resources exceed 1 billion barrels.

Oct 10, 2012
Oct 5, 2012

Ottawa gives Malaysian bid for Progress more scrutiny

TORONTO/CALGARY, Oct 5 (Reuters) – The Canadian government
has extended by two weeks its review of a C$5.2 billion ($5.3
billion) bid by Malaysian state oil company Petronas to take
over Progress Energy Resources Corp as the country’s
focus on foreign moves to buy Canadian resource companies

The unexpected delay comes as Ottawa also vets a $15.1
billion offer for Nexen Inc by CNOOC Ltd, the
Chinese state-controlled company, a deal that has been slammed
both by Canada’s main opposition party and from some within
Conservative Prime Minister Stephen Harper’s own government.

Oct 5, 2012
Oct 5, 2012
Oct 4, 2012
Oct 3, 2012
Oct 3, 2012
Oct 3, 2012
Oct 3, 2012

Enbridge CEO floats new light oil pipeline plans

CALGARY, Alberta, Oct 3 (Reuters) – Enbridge Inc’s
new chief executive kicked off his tenure as head of the main
transporter of Canadian oil exports on Wednesday with new ideas
to get growing volumes of light crude to Eastern markets and
prospects for richer earnings.

Al Monaco, who took over as CEO on Monday, said the boom in
light oil production from sources like the North Dakota Bakken
has drastically shifted North America’s supply outlook, forcing
deep price discounts for supplies not linked to international
Brent crude pricing and prompting the need for new pipeline

    • About Jeffrey

      "Jeffrey Jones is a senior reporter based in Calgary, Alberta, Canada. Jeff covers a wide array of topics, including energy, environment, business and general news. He is also in charge of coordinating in-depth energy-related stories for the United States and Canada. Jeff has a keen interest in music."
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