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Jul 23, 2014

Talisman Energy says approached by Spain’s Repsol about deal

CALGARY/VANCOUVER, July 23 (Reuters) – Talisman Energy Inc
shares rose more than 12 percent on Wednesday as it
confirmed it has been approached by Spain’s Repsol SA
about potential deals, raising the prospect that one of Canada’s
largest independent oil companies will sell off major assets or
be taken over.

Talisman, which has a market capitalization of nearly C$11
billion ($10.2 billion), did not provide details saying only it
had been contacted by the Spanish firm “with regards to various

Jul 1, 2014

Canada energy deals rebound as shale plays trump oil sands

CALGARY, Alberta, July 1 (Reuters) – Mergers and
acquisitions in Canada’s energy sector have rebounded from a
dull 2013 and look poised for a further pickup, driven by the
country’s rapidly developing shale oil and gas properties rather
than its better known oil sands.

Interest in the sector was renewed after a cold winter
boosted gas demand and as Middle East unrest hikes oil prices. A
longer-term slide in the Canadian dollar that boosted producer
profits has only reinforced the trend.

Jun 23, 2014

Pension manager AIMCo turns unconventional to boost returns

CALGARY Alberta (Reuters) – Alberta Investment Management Corp (AIMCo), the C$80 billion ($73.7 billion) provincial pension manager, is steering clear of investments tied to existing roads, bridges and transmission lines as their growing popularity squeezes returns.

AIMCo Chief Executive Leo de Bever said on Monday the company is pushing into late-stage venture capital and newly constructed infrastructure as it looks for above-market returns for the pension and provincial government funds it manages.

May 14, 2014

Canadian oil province, in Ukraine protest, won’t attend Russia conference

CALGARY, Alberta, May 14 (Reuters) – Alberta, the Canadian
province whose oil sands hold the world’s third-largest crude
reserve, said on Wednesday it will not participate in a global
oil conference in Moscow next month as a protest against
Russia’s actions in Ukraine.

The province’s Conservative government said it will not
staff a booth, as had been planned, in the Canadian pavilion at
the World Petroleum Congress, scheduled for June 15 through 19.
It also won’t support any Alberta-based companies attending the

May 14, 2014

Alberta, in protest over Ukraine, won’t attend Russia oil conference

CALGARY, Alberta (Reuters) – Alberta, the Canadian province with the world’s third-largest crude reserve in its oil sands, said Wednesday it will not participate in a global oil conference in Moscow next month as a protest against Russia’s actions in Ukraine.

The province’s government said it will not staff a booth, as had earlier been planned, in the Canadian pavilion at the World Petroleum Congress scheduled for June 15 through 19. It will also refrain from supporting any Alberta-based companies attending the event.

May 13, 2014

Encana profit beats estmates; cold weather boosts gas prices

May 13 (Reuters) – Encana Corp on Tuesday reported
a higher-than-expected quarterly profit, much of which coming
from a field it may put up for sale as it looks to cut its
dependence on natural gas production.

After years of weak prices for the fuel, Encana is selling
off natural gas properties and adding more valuable oil and
natural-gas liquids production to boost earnings. But much of
its gains in the first quarter came from its recently opened
Deep Panuke gas project offshore Nova Scotia, which supplies the
northeastern United States.

Apr 21, 2014

Keystone backers keep their faith in embattled pipeline plan

CALGARY/VANCOUVER April 21 (Reuters) – Six years after
applying to build the Keystone XL pipeline, Canada’s frustrated
oil industry appears steadfast in its support of the plan even
though Washington has again delayed a decision on whether to
approve the politically charged project.

The reason is simple: A massive new pipeline to the U.S. Gulf
Coast remains the most elegant solution for producers looking to
export burgeoning supplies of crude from Canada’s oil sands to
the United States. TransCanada Corp’s $5.4 billion
pipeline would seamlessly pump enough crude from Alberta to
Texas to meet 4 percent of total U.S. demand.

Apr 15, 2014

Five dead after stabbing rampage at Calgary house party

CALGARY, Alberta (Reuters) – The son of a long-serving member of Calgary’s police force was arrested on Tuesday after five people at a house party were stabbed to death in the worst mass murder in the city’s history, Calgary’s police chief said.

Three men were found dead at the scene and a man and a woman died in hospital after the attack at an off-campus party to celebrate the end of the university term. Police said the man, a student at the University of Calgary whose name will be released once charges are laid, was an invited guest.

Apr 14, 2014

Emboldened Canada pipeline opponents push for referendum

VANCOUVER/CALGARY, April 14 (Reuters) – Opponents of
Canada’s Northern Gateway pipeline, bolstered by a coastal
town’s vote against the project, said on Monday they will now
push harder for a provincial referendum they hope would kill
Enbridge Inc’s plan to move oil sands crude to Asian

Residents of Kitimat, located in British Columbia’s remote
northwest, voted against the proposed project on Saturday, with
58.4 percent of residents opposed in the non-binding poll. The
small town is where the terminal facilities for the C$7.9
billion ($7.21 billion) pipeline would be built.

Mar 31, 2014

Encana to sell assets in Wyoming natural gas field for $1.8 billion

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.

    • About Scott

      "Based in Calgary, Alberta, I've covered Canada's energy industry and the oil sands for the past five years for Reuters, and a decade before that for newspapers and other wire services."
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