Canadian oil and gas producer Baytex Energy said it would buy rival Raging River Exploration for about C$2.8 billion (US$2.13 billion) to expand in the oil-rich Duvernay Field in Alberta.
Enbridge endorsed either an underwater tunnel or trench to replace a section of its 65-year-old Line 5 pipeline that carries crude oil and NGL under a stretch of the U.S. Great Lakes.
Industry group warns that a lack of new export pipelines will exclude country from emerging markets.
The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.
A U.S. judge has ordered two former finance executives at Penn West Petroleum, now known as Obsidian Energy, to face regulatory charges that they helped engineer a multi-year accounting fraud.
Producer upset over supply verification procedure for oil pipeline that was abruptly reversed.
Questerre Energy reported on June 4 that it has executed a letter of intent with a senior E&P company to settle outstanding litigation and acquire all their assets in the St. Lawrence Lowlands, Quebec.
Canada’s decision to buy Kinder Morgan Canada Ltd.’s Trans Mountain pipeline was brought about by a “particularly problematic” situation and is not a symbol of how things get done in the country, the finance minister said on May 30.
Petronas said it would buy an equity stake in LNG Canada, an export project led by Shell located in Kitimat, British Columbia, but didn't disclose a value for the acquisition.
While the Canadian oil and gas industry lauded the federal government’s move to buy the Trans Mountain pipeline expansion, leaders remain “deeply concerned” about the toll the political battle has taken.