While TransCanada’s $8 billion project hangs in the balance, Canadian oil is already moving south The landslide Republican victory in this month’s midterm elections will prompt changes in the business of politics and in the U.S. economy, but will they include the Keystone XL pipeline? The House of Representatives approved the Keystone pipeline earlier today by a count of 252-161, with
Enbridge Energy’s (ticker: ENB) Alberta Clipper pipeline (Line 67) is the focus of a new federal lawsuit, filed Tuesday. The pipeline, which runs from Edmonton, Alberta, to Superior, Minnesota, currently carries 450,000 BOD across the U.S.-Canadian border, but Enbridge would like to increase that capacity to 880,000 BOD, Bloomberg reports. A single-line volume increase of that size requires U.S. government
Nation’s fiscal update points to promising growth during the next 5 years Canada’s fall fiscal update was released and it shows promising growth for the country, despite the 25% drop in the price of oil since July of this year. The decline of crude oil prices due to lower demand and oversupply drove the Department of Finance total commodity index
Canada is home to a large number of public companies that are developing hydrocarbon resources on both sides of the border. In this series, Oil & Gas 360® takes a closer look at some of the promising operators in Canada’s E&P space. Canada’s Economy Canada’s GDP growth has outperformed the U.S. in four of the past five years, and growth of
After the Republican victories in the mid-term elections, many are now talking about the likely approval of the long awaited Keystone XL Pipeline. The pipeline, which would stretch 1,179 miles from Hardisty, Alberta to Steele City, Nebraska, has been in political limbo since 2009, awaiting approval from the Senate and President Obama. The president was concerned with the environmental impacts
Re-exporting Canadian Oil through U.S. According to an Energy Information Administration (EIA) report released October 31, crude oil exports reached their highest levels in 57 years in July. The EIA reported that the United States exported 401,000 BOPD in July, marking the second highest monthly export volume since the EIA started publishing data in 1920. Due to current U.S. crude
By Bloomberg Nov. 3, 2014 Oil-sands crude will supply Gulf Coast refineries regardless of how President Barack Obama rules on the Keystone XL pipeline, Alberta Premier Jim Prentice said. Developers of Alberta’s oil sands can use trains to reach the world’s largest refining market or the Energy East conduit to Canada’s Atlantic coast that TransCanada Corp. (TRP) is also proposing, Prentice
Nathan VanderKlippe, The Globe and Mail 6:44 AM, E.T. | October 31, 2014 Alberta’s new political leadership is calling on Ottawa to take another look at foreign investment rules blamed for a dramatic drop in energy investments from China.When the federal government gave its approval of the $15.1-billion (U.S.) takeover of Nexen Energy ULC in late 2012, it came with
Bellatrix Exploration Ltd. (ticker: BXE) is a Calgary-based E&P operating in the Western Canada Sedimentary Basin. The majority of operations are focused on the Cardium tight oil play in Alberta – an area that has boosted production rates tenfold since 2008. Recoverable reserves from new drilling practices are estimated at 3.0 to 4.5 billion barrels of oil. Bellatrix prepared for
Plant will use Ethane from Natural Gas to Make Consumer and Industrial Plastics The cutback on flaring the Bakken’s natural gas took another positive step yesterday. A planned plastics manufacturing facility, announced at a press conference in Bismarck, will produce 1.5 million metric tons of polyethylene (3.3 billion pounds annually) from ethane produced in North Dakota. The plant will employ
Dawson Geophysical (ticker: DWSN), a leading provider of U.S. onshore seismic data acquisition services, announced a proposed merger with TGC Industries (ticker: TGE) on October 9, 2014. TGC is also involved in the seismic field and has operations in Canada and the U.S. Midcontinent. Nuts and Bolts of the Deal The boards of both companies have approved the proposed merger,
Muskeg wells increase quarter-over-quarter production by almost 1,000 BOEPD At EnerCom’s The Oil & Gas Conference® 19 in August, management of Strategic Oil & Gas expressed optimism about near-term catalysts for the company. “The last two years I’ve been here, I’ve said SOG will create value but we still had to buy the infrastructure and prove up the play,” said
