CALGARY, Alberta March 31 (Reuters) – Encana Corp,
Canada’s largest natural gas producer, said on Monday it was
selling its properties in Wyoming’s Jonah natural gas field to
an arm of private equity firm TPG Capital for $1.8
billion, as part of a plan to shed assets and concentrate its
The sale includes properties producing about 323 million
cubic feet of gas per day, about 12 percent of Encana’s natural
gas output in 2013, 1.5 trillion cubic feet of reserves, 24,000
acres of developed lands and 100,000 acres of exploration lands
near the Jonah field called the Normally Pressured Lance area.
CALGARY, Alberta (Reuters) – A particularly punishing winter, even by Canadian standards, has served well the new cable television series “Fargo,” a reimagining of the blood-soaked black comedy film of the same name by brothers Joel and Ethan Coen.
The 10-episode single-season series, which debuts on April 15 on Twenty-First Century Fox Inc’s FX cable network, is a new story with different characters, but leans heavily on the frigid Minnesota setting, death, Midwestern folksiness and deadpan humor of its Oscar-winning namesake.
CALGARY, Alberta, March 20 (Reuters) – Alberta’s powerful
oil and gas industry is keeping a close watch on the uncertainty
sparked by Alison Redford’s abrupt resignation as leader of the
Canadian province, even though no change is expected in energy
policy for now.
Redford stepped down on Wednesday as premier of the ruling
Progressive Conservative party following a controversy over her
travel expenses and caucus infighting that left her party
floundering in the polls.
CALGARY, Alberta (Reuters) – Alberta’s Progressive Conservative government, which has run the oil-rich Canadian province for more than four decades, suffered another defection on Monday in what was the latest protest against the leadership of Premier Alison Redford.
Donna Kennedy-Glans, a junior member of Redford’s cabinet, said on Monday she would resign as associate minister for electricity and renewable energy and sit as an independent in the provincial legislature.
March 6 (Reuters) – Canadian Natural Resources Ltd,
Canada’s No. 2 oil and gas company, said on Thursday it has a
solution for the problems that led to a months-long spill of
tar-like bitumen at a northern Alberta oil sands property.
The company, which reported a 17 percent rise in
fourth-quarter profit and hiked its dividend for the second time
in four months, also said it expects to complete an expansion of
its Horizon oil sands project earlier than expected.
TORONTO/CALGARY, Feb 20 (Reuters) – TransCanada Corp
said on Thursday it is weighing how to proceed with its
controversial Keystone XL pipeline after a U.S. legal setback,
even as it pushes ahead with a far larger line that could bring
oil sands crude to international markets.
A Nebraska court on Wednesday voided the governor’s decision
to allow the Keystone XL pipeline to pass through the Midwestern
state, threatening yet another delay for a project that would
link Canada’s oil sands with refineries in Texas.
CALGARY, Alberta (Reuters) – A second Canadian pipeline project to the United States is now facing delays as operator Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz) awaits a U.S. presidential permit, a development that may strain prices for Alberta oil sands crude and relations between the two countries.
Enbridge, Canada’s largest pipeline company, said it no longer expects to get the permit amendment it needs to expand its Alberta Clipper line in time to start pumping extra oil on it at midyear as it had planned. It applied for the permit in November 2012.
CALGARY, Alberta, Feb 14 (Reuters) – Enbridge Inc’s
plan to expand the capacity of its Canada-to-U.S. Alberta
Clipper pipeline by 120,000 barrels per day have hit a snag, the
company said on Friday, as getting a U.S. presidential permit
for the project is taking longer than expected.
Enbridge, Canada’s largest pipeline company, which also
reported a lower than expected quarterly profit on Friday, said
it no longer expects to get the permit amendment for the Alberta
Clipper expansion in time to start pumping more oil at midyear,
as it had planned.
CALGARY, Alberta, Feb 12 (Reuters) – Husky Energy Inc
, Canada’s third-largest integrated oil producer, said
on Wednesday it made the first major sale of Canadian crude oil
to India in the fourth quarter, even as its profit in the period
dropped on weak refining results.
The company, controlled by Hong Kong billionaire Li
Ka-shing, sold 1 million barrels of crude oil from its White
Rose field, off the coast of Newfoundland, in the quarter to
state-owned refiner Indian Oil Corp.
CALGARY, Alberta/SYDNEY (Reuters) – Canadian heavy oil producer Baytex Energy Corp (BTE.TO: Quote, Profile, Research, Stock Buzz) has agreed to buy Aurora Oil & Gas Ltd (AUT.AX: Quote, Profile, Research, Stock Buzz) for C$2.6 billion ($2.4 billion) including debt, targeting the Australian company’s Texas shale oil assets and driving its shares to a 15-month high.
Baytex is offering A$4.10 for each share of the Perth-based oil producer, a 52 percent premium to its average price in the past week, valuing the company at A$1.84 billion ($1.65 billion), Aurora said in a statement.