Alberta ///

Oil industry relieved as Alberta holds royalties steady

Alberta's left-leaning government unveiled a new energy royalty framework on Friday that left rates unchanged on existing oil wells and oil sands projects, alleviating fears that costs would rise to punishing levels amid the worst crude price slump in decades.

Enerplus to sell certain Canadian natural gas assets

Enerplus Corporation has entered into agreements to sell various Canadian natural gas properties located in Alberta.

Condor Petroleum to acquire Marsa Energy

Condor Petroleum Inc. and Marsa Energy Inc. have announced that they have entered into an agreement that provides for the acquisition of Marsa by Condor, to create a well-capitalized company with significant exploration and development assets.

Suncor Energy extends Canadian Oil Sands offer

Suncor Energy has extended its offer to Canadian Oil Sands Limited shareholders.

Suncor may scrap $4.5-billion Canadian Oil Sands bid if offer delayed

Suncor Energy Inc. said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands Ltd. if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders.

Bankers Petroleum bags Hungarian exploration block

Bankers Petroleum has announced a successful bid, in the third Hungarian bid round, for the Püspökladány Block (Block "P"), within the Pannonian basin, in north eastern Hungary.

Oil sands companies demonstrate leadership on climate change

Four of Canada's largest oil sands producers have come together to demonstrate leadership on climate change.

Suncor plans higher spending of up to $5.5 billion next year

Suncor Energy Inc., Canada’s largest crude producer, plans to boost capital spending to as much as C$7.3 billion ($5.5 billion) next year to expand operations and increase efficiency.

Suncor Energy purchases additional working interest in Fort Hills oil sands project

Suncor Energy has successfully closed the previously announced purchase of an additional 10% working interest in the Fort Hills oil sands project from Total E&P Canada Ltd.

Shell launches Quest carbon capture and storage project

Shell has officially launched the Quest carbon capture and storage (CCS) project in Alberta, Canada, and the start of commercial operations there.

President Obama’s Keystone rejection is an assault against American workers

API President and CEO Jack Gerard said the President’s rejection of the Keystone XL pipeline is a clear example of politics coming before the interests of U.S. workers and consumers.

Suncor asks regulator to reject Canadian Oil Sands’ poison pill

Suncor Energy Inc. is stepping up its hostile C$4.3 billion ($3.3 billion) bid for Canadian Oil Sands Ltd. by asking Alberta regulators to strike down the target’s new shareholder rights plan aimed at preventing its takeover.

Shell shelves Alberta oil-sands project after leaving Arctic

Royal Dutch Shell Plc made its second major strategic change in as many months, saying it will take a $2 billion charge as it shelves an oil-sands project in Alberta after walking away from an Arctic drilling program.

Rifle Shot Oil acquires Redwater area assets in Alberta

Rifle Shot Oil has completed the acquisition of assets in the Redwater area of Alberta.

TransCanada revises strategy for Keystone XL Nebraska route

TransCanada Corp. said it wants to end its fight with Nebraska land owners over the legality of its Keystone XL pipeline path through the state, opting instead to seek approval from the state’s Public Service Commission as its opponents wanted all along.

Total sells a 10% interest in Fort Hills oil sands project to Suncor

Total has signed an agreement to sell a 10% interest in the Fort Hills oil sands mining project to the operating partner Suncor Energy.

Penn West to sell Mitsue properties for C$192.5 million

Penn West Petroleum has entered into a definitive agreement for the sale of its properties in the Greater Mitsue area of Central Alberta for a cash consideration of C$192.5 million.

ConocoPhillips reports first oil at Surmont 2 oil sands facility

ConocoPhillips has delivered first oil at its Surmont 2 in-situ oil sands facility in Canada, the company said Tuesday.

Cenovus buys crude-by-rail trans-loading facility in Alberta

Cenovus Energy has closed its purchase of Canexus Corporation's North American Terminal Operations (NATO), a crude-by-rail trans-loading facility in central Alberta.

Alberta royalty review an opportunity to re-establish competitiveness, CAPP says

The Alberta royalty review panel should propose new rules by the end of this year to help restore investor confidence, and should consider how to make the province more attractive and competitive for the oil and natural gas investment that generates jobs and government revenues, the Canadian Association of Petroleum Producers said Monday.