Ivanhoe Energy Inc. declared that it has sold its U.S. oil and gas operations to Seneca South Midway LLC, a subsidiary of Seneca Resources Corp., for approximately $40-million. For full story, click here
Canada-based Vangold Resources has sought oil and gas exploration rights for Rwanda’s Lake Kivu following successful air and satellite surveys. For full story, click here
Deloro Resources (CVE:DLL) annouced today that CSA approval has been received and SaskPower has cleared the Wilkie Project site for eletrification. The pilot test will be starting shortly. Deloro will be testing Electro-Petroleum Inc.’s enhanced oil recovery technology. Click this link to see the full release.
Enerplus Resources Fund reported that it is delaying its Kirby oil-sands project by at least a year as low crude-oil prices continue to stymie developments in the high-cost sector. For full story, click here
Alberta’s Energy Resources Conservation Board announced that it has made available for review draft directives for Section 12 on heavy oil measurement and Section 13 on condensate measurement. For full story, click here
Buffalo Resources Corp. reported record financial results for the nine months ended September 30, 2008. For full story, click here
Canadian Natural Resources Ltd. does not expect Barack Obama to implement policies that would crush Alberta’s oil sands industry. Réal Cusson, senior vice-president of marketing, Canadian Natural Resources, said: There’s always a difference between what’s been said in a campaign versus the realities of governing. We believe the Canadian barrels are friendly barrels right next door [...]
Here are the earnings from Canadian Natural Resources, company’s progress on completion of its Horizon Project & the budget for next year. Allan P markin, chairman of the company, said: Canadian Natural’s third quarter results and our 2009 budget reflect our continued drive towards developing our low risk, exploitation and exploration based assets, while creating value for our shareholders. [...]
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market news The short to medium term outlook for oil sands and heavy oil projects remains negative. As the barrel price for light sweet crude remains (relatively) low, new investments in oil sands projects are unlikely to be forthcoming. The combination of low prices and [...]
By Duncan Sutherland – Exclusive to Heavy Oil Investing News Market News As most of you know by now, the barrel price for oil has dropped pr ecipitously in the wake of Gustav’s fairly uneventful passage through the Gulf of Mexico. The drop in prices has weighed down the energy-heavy TSX indexes, energy companies and [...]
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