More Unconventional Resources News

Suncor Energy to supply diluent for oil sands project

Mar 16, 2001 Petro-Canada and Suncor Energy Marketing Inc. (SEMI), a unit of Suncor Energy Inc., signed a long-term agreement for SEMI to supply diluent for the Petro-Canada MacKay River oil sands project now under construction.

Regulator: In open market, coal will thrive

Mar 19, 2001 With gas the dominant fuel for most new electricity capacity, many in the industry feel pessimistic about the future of coal-fired power plants in the US. But a regulator from a top coal mining state and the nation's leading electricity exporter, says the gloom is unwarranted. If the wholesale electricity market remains open and transparent, coal will continue to play a major role in the country's electricity supply, said Bill Gregg, of the West Virginia Public Service Commission.

DOE says Midway-Sunset pilot project yields 1 million bbl

Mar 28, 2001 The US Department of Energy said Tuesday a government-industry experiment has revived a central California lease and resulted in the production of more than 1 million bbl of oil once thought unrecoverable. DOE said because of the project, oil is flowing from 100 privately funded wells nearby and millions of barrels more could be recovered from the Bakersfield area.

Provident to acquire Maxx Petroleum

Mar 28, 2001 Provident Energy Trust will acquire Calgary-based Maxx Petroleum Ltd. in a $133 million (Can.) deal involving cash, stock, and assumed debt. Maxx, which put itself on the market 9 months ago because of declining stock values, has production of 8,700 boe/d, mainly in the Lloydminster heavy oil region on the Alberta-Saskatchewan border.

Environmental group says US rivers threatened by drilling

Apr 16, 2001 Expanding oil drilling on federal lands could cause "tremendous damage" to US waterways, the conservation group American Rivers said in a report detailing the nation�s "most endangered" rivers. It said the Canning River in Alaska and the Powder River in Wyoming and Montana are threatened.

Electric Power news briefs, Apr. 20, 2001

Apr 20, 2001 AES Corp. ... Kievoblenergo ... Constellation Energy Group Inc. ... Ogden Power Corp. ... Wisconsin Public Service Corp. ... Alliant Energy Resources Inc. ... Anhui New Energy Heat & Power Co. Ltd. ... Westcoast Energy Inc. ... Midwest Independent Transmission System Operator Inc. ... Consumers Energy ... Calpine Corp. ... Mitsui Marine & Fire Insurance Co. Ltd. ...Aquila ... Williams ... TransCanada Pipelines Ltd. ... Texas Eastern Transmission Corp. ... Weyerhauser Co.

Syncrude sets record with oil sands production

Apr 26, 2001 The Syncrude Canada Ltd. consortium reports record first quarter production of 21.3 million bbl of synthetic crude from its oil sands operation in northern Alberta. Production equated to 237,000 b/d, vs. 178,000 a year earlier.

California producers face higher electric rates amid rolling blackouts

Apr 27, 2001 California oil and gas operators are facing a jump in electric rates and rolling blackouts this summer that threaten to curtail production in that energy-starved state. A pending rate increase could raise production costs by $2/bbl or more, said officials of the California Independent Petroleum Association.

Syncrude sets record outlay of $900 million (Can.) this year

May 1, 2001 Syncrude Canada Ltd., a 10-member joint venture, is budgeting a record $900 million (Can.) for capital investment in 2001. Most of this will be dedicated to engineering design work and procurement-fabrication work for Stage 3 of the Syncrude 21 expansion program.

Husky reports sixfold increase in quarterly earnings

May 1, 2001 Husky Energy Inc. reports a sixfold increase in first quarter 2001 earnings to $242 million (Can.) compared with $39 million in first quarter 2000. The company said first-quarter cash flow increased to $620 million from $191 million in first quarter 2000.

Santa Catalina, Eclipse to farm-into Sneddon project

May 3, 2001 Santa Catalina Mining Corp., Vancouver, and Eclipse Exploration Ltd., Calgary, have agreed to farm-into AEC Oil & Gas Ltd.'s lands in the Sneddon area in northwestern Alberta.

Finance/Companies briefs, May 14

May 14, 2001 Athabasca Oil Sands Trust ... Bonus Resource Services ... Halter Marine Inc. ... Search Energy Corp.

Husky to increase East Coast exploration in drive to double output

May 15, 2001 Husky Energy Inc. plans to increase exploration activity off Canada's East Coast as part of a plan to double overall company production to 500,000 boe/d by 2005. A decision about proceeding with the White Rose project off Newfoundland has been put off until September, however.

CNRL outlines plans for Horizon oil sands project

May 18, 2001 Canadian Natural Resources Ltd. (CNRL) says a proposed $7 billion (Can.) oil sands project in northern Alberta could produce more than 5.6 billion bbl of bitumen over a 50-year lifespan.

Canada applauds Bush plan for continental energy market

May 21, 2001 Ottawa and oil industry leaders are responding enthusiastically to plans by the Bush administration for a continental energy policy in which Canada would play an expanding role.

Market Connection

Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

Refinery Units and Equipment for Sale (PA)

Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

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