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Oct 18, 2013

TransCanada says two northern Alberta customers still lack gas

CALGARY, Alberta, Oct 18 (Reuters) – TransCanada Corp
said two of its customers in northern Alberta were
still without gas deliveries on Friday after a pipeline break
forced some of the Canadian oil sands’ biggest producers to cut
back their output.

The rupture on TransCanada’s 1.6 billion cubic foot per day
North Central Corridor pipeline occurred on Thursday in a remote
area about 140 kilometers (90 miles) west of Fort McMurray,
Alberta and disrupted supplies for much of the day.

Oct 17, 2013

Oil sands production cut after natural-gas line ruptures

CALGARY, Alberta, Oct 17 (Reuters) – Some of Canada’s
largest oil sands producers began scaling back production on
Thursday after their natural gas supplies were cut back due to a
pipeline rupture on TransCanada Corp’s regional Nova
pipeline network.

Suncor Energy Inc said it is slowing operations at
its oil sands projects north of Fort McMurray, Alberta, where
production averaged 365,000 barrels per day last month.

Oct 8, 2013

Talisman shares drop as investors question Icahn effect

TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares fell on Tuesday as investors raised doubts that activist investor Carl Icahn would be able to force dramatic changes on the struggling Canadian oil producer.

Icahn disclosed a 6 percent stake in Talisman late on Monday, making him its second-largest shareholder, according to Reuters data. It is the second time Icahn has taken a position in Talisman. He acquired 4.8 million shares in 2007, when the company was facing pressure to boost its share price.

Oct 8, 2013

Icahn ignites Talisman stock, but longer-term doubts linger

TORONTO/CALGARY (Reuters) – Talisman Energy Inc (TLM.TO: Quote, Profile, Research, Stock Buzz) shares rallied in trading before the bell on Tuesday on news that Carl Icahn has built a stake in the company, but doubts remain about whether the billionaire investor will be able to force dramatic changes.

Investors and analysts see Icahn’s involvement in Talisman breathing life into the stock in the short-term, but many are wary, as the company has been working through a restructuring process under new management for over a year now and the results so far have been mixed at best.

Oct 7, 2013

Talisman Energy shares surge as Carl Icahn acquires stake

CALGARY, Alberta, Oct 7 (Reuters) – Talisman Energy Inc
shares surged in after-hours trading on Monday
after activist investor Carl Icahn said he had purchased about
61 million shares of the underperforming Canadian oil producer
and may seek a seat on the company’s board.

Talisman’s New York Stock Exchange-listed shares surged 10.9
percent in after-hours trading after Icahn revealed the stake.
The stock closed at $12.75 in New York on Monday.

Oct 1, 2013

Enbridge plans new C$1 bln pipeline to carry diluent

CALGARY, Alberta, Oct 1 (Reuters) – Enbridge Inc
said on Tuesday it plans to build a new C$1 billion ($972.86
million) pipeline to carry 200,000 barrels per day of diluent,
or thinning agent, from Edmonton, Alberta, to oil sands
operators near Fort McMurray, Alberta.

Enbridge, Canada’s No. 1 pipeline company, said the planned
Norlite line may be expanded to carry 300,000 bpd should it
receive enough support from oil sands producers, who blend the
diluent into heavy oil so it can flow in pipelines.

Sep 12, 2013

Encana reviews dry gas assets, signals big changes

Sept 12 (Reuters) – Encana Corp, Canada’s largest
gas producer, on Thursday signaled a potential sale of dry
natural gas assets as it focuses on more-lucrative oil and gas
liquids and cutting the number of properties it owns.

Doug Suttles, the former BP Plc executive appointed
as Encana’s chief executive in June and charged with righting
the company after a series of strategic missteps, said the
company will push to cut producing properties and revamp its
organization as it looks to weather natural gas prices he
expects to remain low for years.

Sep 10, 2013

TransCanada: Energy East pipeline construction to create 10,000 jobs

CALGARY, Alberta, Sept 10 (Reuters) – TransCanada Corp
said on Tuesday its planned C$12 billion Energy East
pipeline would create an estimated 10,000 jobs during
development and construction and more than C$10 billion in tax

As it waits on a long-delayed U.S. approval of its
controversial Keystone XL project, TransCanada executives touted
the benefits of the Energy East line. The pipeline, which would
be North America’s longest and most expensive, would move 1.1
million barrels per day of Alberta crude oil to Atlantic

Aug 1, 2013

TransCanada ramps up East Coast pipeline plan as Keystone stalls

By Jonathan Leff and Scott Haggett

(Reuters) – TransCanada Corp on Thursday said it would move ahead with a $12 billion oil pipeline to ship Western Canada’s oil sands crude to refiners on its east coast and beyond, scaling up the project as its U.S.-bound Keystone XL line stalls in Washington.

TransCanada, Canada’s No. 2 pipeline company, said it would push ahead with a 1.1-million-barrel-per-day Energy East Pipeline after “strong market support.” That is more than the 850,000 bpd capacity TransCanada mentioned in April, when it first began seeking customer commitments for the project.

Jul 22, 2013

CN Railway profit rises as crude oil shipments increase

July 22 (Reuters) – Canadian National Railway,
Canada’s largest railroad, said on Monday it expects the boom in
crude-by-rail shipments to continue, despite the Lac-Megantic
tragedy earlier this month and as narrowing spreads between
benchmark world oil prices raise questions about the economics
of rail transport.

The company reported an 11 percent rise in adjusted profit
for the second quarter and said its oil shipments grew by 150
percent from the year-earlier period, boosting revenue by about
C$100 million ($96.7 million). It said that growth would likely
continue over the next 18 months.

    • 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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