Markham Hislop

Exploration and production bankruptcies drive up failure rate

Energy Financial

Sabine Oil & Gas Corporation and Lightstream Resources Ltd., latest victims of lower oil prices, latest bankruptcies Two more exploration and production companies have declared bankruptcy, causing the energy default rate to exceeds its long term average 1.9 per cent, according to Fitch Ratings. Sabine Oil & Gas Corporation and Lightstream Resources Ltd. recently filed for Chapter 11 protection, driving […]

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Churchill Marine Observatory: New research into Arctic oil spills

News

Churchill Marine Observatory research will be help in event of Alaska Arctic off-shore oil spill A new $32 million research facility – Churchill Marine Observatory – on the edge of Hudson Bay will soon begin studying the impacts of potential Arctic oil spills. The recent transportation of two Shell drilling platforms up the West Coast has focused

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Low oil prices, coal demand slow CSX company profit this year

News

Workforce reduction expected at CSX OMAHA, Neb. – CSX expects faltering demand for coal and crude oil to slow profit growth this year, but the railroad will limit expenses and work to raise rates to compensate. Railroad executives said Wednesday it will be difficult to deliver results near the upper end of their forecast for mid-to-high single-digit earnings

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Radio frequency tech tested for producing Suncor oil sands bitumen

Innovation

Pilot project led by Suncor could dramatically reduce carbon emissions, costs for in situ bitumen production Suncor Energy is testing a new radio frequency technology combined with solvent that could eliminate steam from its oil sands production and reduce energy use by 75 per cent, the company announced Tuesday. Suncor, Canada’s largest energy company, says

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Pipeline agency reforms lag may be factor in California oil spill: Lawmaker

News

California oil spill released 101,000 gallons of oil WASHINGTON – The federal agency that oversees the safety of the nation’s pipelines failed to follow through on congressional reforms that could have made a difference in a May break that created the largest coastal oil spill in California in 25 years, a House committee chairman said Tuesday. In a

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As Iran sanctions lift, more production may lead to lower oil prices

News

Iran sanctions likely to be lifted slowly Oil prices that slumped steeply earlier this year may take another hit once a historic deal between the West and Iran allows that country to start pouring more crude into a market already brimming with supply. Many analysts estimate that Iran, OPEC’s fourth-largest oil producer, has piled up tens of millions

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Rail delays decline in Midwest due to North Dakota oil slowdown

News

Completed North Dakota oil pipeline also helps free up rail space BISMARCK, N.D. – Delays in Amtrak service and agricultural product shipping have eased across the Upper Midwest in part because weak oil prices have prompted a drilling slowdown in North Dakota, officials say. Along with recent track upgrades, a recently completed pipeline and a new North Dakota refinery also has

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Ban heavy crude oil from Straits of Mackinac pipeline: Michigan officials

News

Straits of Mackinac pipeline run below waterway LANSING, Mich. – Heavy crude oil will be banned from the Straits of Mackinac pipeline that runs under a scenic waterway where Lakes Huron and Michigan meet, state officials said Tuesday, adding they also will require independent analyses of future alternatives to the pipes and worst-case consequences of a spill. Only light

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