Oil Sands Mining News

Oil sands pipeline bill poised to advance

The House Energy and Commerce Committee is slated to vote on a bill aimed at accelerating federal approval of a controversial pipeline that would expand U.S. imports from Canada’s oil sands projects. The oil industry-backed bill – which House GOP leadership hopes to bring before the full chamber this summer – would require an Obama administration decision on the proposed Keystone XL pipeline by Nov. 1.

Ecology Alberta's vanishing caribou Oilsands activity blamed for caribou decline

Beginning of Story Content Humans, not wolves, are behind declining caribou populations in Alberta's oilsands region, an analysis of animal feces shows. The same research also found there may be many more caribou in the region than previously thought,

Oil sands stocks hit hard by reserves move

Canada’s most valuable oil companies Suncor and Canadian Natural Resource – together worth over $100bn – were trading down over 3% on Thursday before recovering some ground following news that 2m barrels of oil per day - equal to Canada's total daily exports to the US – will be released onto the market over the next month. The International Energy Agency said 28 of its members, with the US providing about half of the total, would tap their strategic oil reserves in an effort to make up for lost output as Libya's civil war drags on.

Commodities fall most in seven weeks

Bloomberg reports that commodities dropped the most in seven weeks after the International Energy Agency announced plans to release emergency oil supplies.Gold for August delivery fell 2.4 percent to $1,516.60 an ounce, the first drop in eight sessions, and palladium for immediate delivery declined 2.2 percent to $747.25 an ounce.

Oil sands M&A expected to heat up

Canadian Business reports merger and acquisition activity is expected to increase in Canada's oilpatch this year, as energy executives take a brighter view of their sector's prospects, according to a study released Wednesday. But the positive outlook is dampened somewhat by cost escalation for labour and equipment, the Ernst & Young report said. In 2010 Canadian energy M&A activity was dominated by oil sands. While the $4.65bn Sinopec-Syncrude deal was the largest the total the number of oil sands transactions tripled.

Connacher Oil to sell Halfway Creek stake

Calgary Herald reports Calgary-based Connacher Oil & Gas Ltd. said it, along with Alberta Oil Sands Inc., will sell the entire working interest in Halfway Creek oilsands leases in northeast Alberta to focus on its core Great Divide assets. Connacher Oil, which owns oilsands leases in Alberta, holds 50 per cent in Halfway Creek, while the remaining is held by Alberta Oil Sands.

The outlook for natural gas: the stocks with upside around the corner

Timing is everything in the market and being able to spot trends is critical for locking in attractive returns. Natural gas producers have taken a beating over the past three years but there are encouraging signs that natural gas might be ready for a break to the upside.

Suncor finishes upgrader maintenance work

Suncor said production at its oil sands operations north of Fort McMurray, Alberta, had now returned to normal. The work on Upgrader 2 reduced output at the facility by 215,000 barrels per day over its

UN climate inventory data clashes with new Environment Canada report

Environment Canada has been criticized for excluding statistics indicating a substantial rise in overall pollution from the oilsands sector from 2008 to 2009 in its inventory report, while including numbers suggesting the industry was making progress

MEG Energy moves forward with Christina Lake oil sands project in Alberta

Flint Energy Services Flint Energy Services Ltd. signed a letter of intent for a major oil sands construction contract with MEG Energy for its Christina Lake Phase II SAGD oil sands project near Conklin, Alberta.

Lemon or Lamborghini Investors require the full picture on oilsands liabilities

Ever tried buying a car without an inspection? Or having only the engine examined but not the brakes? If so, you'd be playing a game of chance if the car had some rather expensive upcoming maintenance bills. Turns out for investors wanting to put their cash on the oilsands, it's currently not possible to have the full picture on oilsands liabilities Image is from Endleez at Wikipedia.

Canadian Natural Resources Ups Horizon Oil Sands Project

Suncor Energy Inc. reported Monday that it successfully completed planned maintenance work on one of its two oil sands upgraders (U2) at its oil sands operations near Fort McMurray safely and on schedule. Oil sands […]

President and CEO Claude Mongeau says CN's Alberta short-line rail acquisitions, upgrades total C$400 million: Rail investments key to economic growth in oil sands and other natural resource regions of northern Alberta

Claude Mongeau, president and chief executive officer of Canadian National Railway Company, said today the company will have invested almost $400-million to buy and rehabilitate four short-line railways serving resource-rich regions of Northern Alberta by year-end 2011.

Flint Announces MEG Energy Award and Increase in Backlog

Flint Energy Services Ltd. (Flint, the Company) announced today that the Company has signed a letter of intent for a major oil sands construction contract with MEG Energy.

Flint gets Alberta oil sands construction contract

Suncor Energy's Firebag project since the first quarter of this year. Including the new agreement with Canadian oil sands developer MEG Energy, the added backlog for Flint's facility infrastructure segment is about C$300 million.

Bounty Oil And Gas NL (ASX:BUY) Nyuni 2 Well Spuds

Bounty Oil & Gas NL (ASX:BUY) (PINK:BYOGF) is pleased to announce that the Nyuni 2 well in the Nyuni Block, Tanzania was expected to spud around mid day today East Australia Time.

Athabasca Signs Land Use Agreement With Large Camp Provider at Poplar Creek

Athabasca Minerals Inc. ("Athabasca" or the "Corporation") (TSX VENTURE:ABM) is pleased to announce it has entered into a long term land use agreement (the "Land Use Agreement") with a large camp provider (the "Camp Provider") to transfer a 42 acre parcel of developed land out of the depleted portion of Athabasca's current miscellaneous lease at Poplar Creek to the Camp Provider.

House hears concerns over heavy crude

Industry advocates and environmental groups sparred over the issue of heavy crude shipments as U.S. lawmakers push for an oil sands pipeline from Canada.

North American Energy Partners Notified of Suspension of Work at Canadian Natural's Horizon Project

Further to the announcement issued by North American Energy Partners on Wednesday May 18th, the Company has now been notified by its customer, Canadian Natural Resources Limited ("Canadian Natural"), to suspend overburden removal activities at the Horizon Oil Sands project near Fort McMurray, Alberta. The suspension is being taken while Canadian Natural undertakes repairs to its primary upgrading facility, which was damaged in a fire in January 2011. The suspension of work notice was issued on May 18, 2011 at 2 pm and is effective until January 2, 2012.

Athabasca Oil Sand Corp chances on hefty Leduc oil discovery

Potential joint-venture partners have been intrigued by a hefty oil discovery Athabasca Oil Sands Corp. made by way of happy accident. Athabasca has been approached by "several" parties keen to get in on its position in the Leduc carbonate, president and chief executive officer Sveinung Svarte told Canadian Business in an interview. Worth $6bn on the Toronto bourse Athabasca is trading down close to 20% from record highs hit in March this year when the Calgary-based company announced that it acquired more than 1.0 million acres of petroleum and natural gas rights in the Deep Basin areas of northwestern Alberta from crown sales and third-parties.

CAPP issues latest forecast

The Canadian Association of Petroleum Producers (CAPP) expects that oil sands growth, coupled with new production from existing conventional oil reserves, will drive Canadian crude oil production to about 4.7 million barrels of oil per day by 2025

EnerVest Energy to pay 4.17-cent distribution July 15

EnerVest Energy and Oil Sands Total Return Trust (the "Fund") (TSX:EOS.UN) announces the June 2011 distribution of $0.0417 per unit. The record date for this distribution is June 30, 2011 and the payment date will be July 15, 2011. The ex-distribution date for this payment is June 28, 2011. The Fund is listed on the TSX under the symbol EOS.UN and is an actively managed, diversified closed-end trust investing in developers and miners of the oil sands industry as well as businesses that are indirectly involved with the oil sands industry through the provision of supplies and services.

Oil sands' impact on pipes needs study-US lawmakers

U.S. regulators should examine whether crude from Canadian oil sands corrodes pipelines and makes them more vulnerable to accidents, lawmakers said at a hearing on pipeline safety on Thursday.

Statoil's Leismer Project Produces 1MM Bbl Of Oil

We will continue to drive shareholder value through operational efficiency as we move into future phases of our oil sands business in Canada.” First oil at LDP was achieved in January 2011 and is expected to ramp up to its rated capacity of 18,800

How To Use ETFs to Predict Price Moves in Oil

ETFs, or Exchange Traded Funds, not only track the price of oil, but they can actually provide clues as to where the oil price is going.