"Petrobank Energy and Resources Ltd. could distribute its 66.7 per cent stake in Latin American oil producer Petrominerales Ltd. within 18 months, the company’s chief executive said Thursday, and spin off its other businesses within four years.
Petrobank CEO John Wright said in an interview that Petrominerales, which produces oil in Colombia, is a likely candidate to be doled out to Petrobank’s investors soon, with two other business units — a Canadian conventional oil producer now bulking up through a merger, a Canadian heavy oil producer — able to stand on their own in about 48 months..."
Precision CEO sees return to balance in natural gas market
Natural gas supply and demand should start coming back into balance in North America by this winter as severe cuts in drilling lead to a drop in available volumes, the head of Canada’s largest contract driller by rig count said Thursday.
Major reductions in capital spending among energy companies in response to weak gas prices are prompting steep production declines in Canada and the United States, Precision Drilling Trust chief executive Kevin Neveu said.
“We think this aggressive decline rate in both Canadian and U.S. gas is catching up right now with the demand side,” Neveu said at an investor conference in Denver, Colo...
Canada's energy sector open for China: Flaherty
"Finance Minister Jim Flaherty rolled out the welcome mat for Chinese investment in the Canadian energy sector Monday, saying this country's foreign-investment rules pose little hindrance to the growth of a Chinese presence..."
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