News Updates
February 3, 2012
Oilsands Quest Inc. has secured a commitment for debtor-in-possession financing of $3.75 million, for the purposes of funding operating costs and other expenses while the company proceeds with its previously-announced solicitation process while under creditor protection.
February 3, 2012
Imperial Oil Limited has approved a $2 billion expansion of its Cold Lake cyclic steam stimulation (CSS) operation in northeastern Alberta.
February 1, 2012
Privately-held Grizzly Oil Sands ULC continues to bulk up, announcing yesterday that it will buy Petrobank Energy Resources Ltd.'s May River property for $225 million.
February 1, 2012
MEG Energy Corp. has received conditional approval from Alberta's Energy Resources Conservation Board to expand its Christina Lake regional SAGD project by 150,000 bbls per day in three phases by 2020.
January 27, 2012
Sunshine Oil Sands Ltd. says it might go public after receiving Alberta Energy Resources Conservation Board approval for the first phase of the West Ells oilsands project and needing about $500 million to build it, hopefully by raising around that amount in an initial public offering.
January 26, 2012
Federal Environment Minister Peter Kent this morning said new federal-provincial environmental oilsands monitoring program will be rolled out "in the very next few months."
January 24, 2012
The environmental regulatory system for Canadian oilsands is similar in rigour to that of its peers, says a new case study by an energy consultancy.
January 23, 2012
Osum Oil Sands Corp. has closed its previously announced private placement of $500 million in equity securities.
January 12, 2012
ATCO Structures & Logistics has been awarded a contract to build a 112-person permanent workforce housing lodge and provide camp catering and services for the Sunrise SAGD project, located 60 kilometres northeast of Fort McMurray.
January 12, 2012
Oilsands Quest Inc. has requested and obtained approval from the Alberta Court of Queen's Bench to conduct a process to solicit offers to acquire, restructure or recapitalize the company.
January 11, 2012
Cenovus Energy Inc. has so many in situ oilsands projects in its "hopper" it may have to increase its recently expanded module fabrication capacity again.
January 11, 2012
A year ago industry and investors were worried about significant cost inflation at oilsands mining projects and while that fear continues it's not reality today thanks to world events, says a Canadian Natural Resources Limited executive.
January 11, 2012
Cenovus Energy Inc. says if all approvals are met its fifth oilsands project, which could start steaming as early as 2018, will employ several technologies the company has pioneered at existing operations that are expected to put the pedal to the metal on start-up.
January 10, 2012
China's rising investment in Canada's oilsands sector will not likely be challenged unless one of its state-owned firms makes a bid for one of this country's flagship producers, say industry observers.
January 9, 2012
Southern Pacific Resource Corp. has increased its proved plus probable reserves by 30 per cent to 120 million bbls per day of bitumen and the 2P net present value (discounted at 10 per cent) to $1.7 billion.
January 9, 2012
Teck Resources Limited's purchase of SilverBirch Energy Corporation, announced this morning, strengthens its proposed Frontier oilsands mine with a net cash outlay of $435 million, says Teck's president and CEO.
January 5, 2012
A new Ipsos Reid poll conducted on behalf of Enbridge Inc. shows that British Columbians are more likely to support than oppose the proposed Northern Gateway Pipelines Project.
January 4, 2012
A new body that includes industry and government representatives will make recommendations to the Alberta government on transportation needs in the Athabasca oilsands region, the provincial government said this morning.
January 4, 2012
Richard Gusella, chairman and chief executive officer of Connacher Oil and Gas Limited, has reassumed the additional position of president and interim chief operating officer following the departure of three senior managers.
January 3, 2012
Rapid progress is being made in the investigation of bacterial growth to remove toxins from oilsands tailings ponds, say professors at the universities of Calgary and Alberta.
January 3, 2012
Athabasca Oil Sands Corp. has exercised an option to sell its 40 per cent interest in the MacKay River oilsands project to Cretaceous Oilsands Holdings Limited, a wholly owned subsidiary of PetroChina International Investment Limited, for $680 million in cash.
December 23, 2011
Cenovus Energy Inc. has filed an application with the Alberta Energy and Resources Conservation Board seeking regulatory approval for its proposed Pelican Lake Grand Rapids project.
December 29, 2011
North American Energy Partners Inc. will resume overburden operations at Canadian Natural Resources Limited's Horizon mine on Jan. 2, 2012, under the terms of a recently signed memorandum of understanding between NAEP's wholly-owned subsidiary North American Construction Group Inc. and Canadian Natural.
December 29, 2011
In his two decades with Houston, Texas-headquartered energy giant ConocoPhillips, Nicholas Olds has seen some of the world's most demanding, exciting and challenging oil and gas regions. Most recently, he headed up the company's growth in the Caspian. He's done stints in Houston, Norway, Dubai and Nigeria.
December 21, 2011
Montreal-based SNC-Lavalin has been awarded a contract by MacKay Operating Corp. to provide detailed engineering and procurement services for the MacKay River central plant project.
