Statoil finds oil (again) in the Flemish Pass Basin Drilling an oil and gas well is always an uncertain endeavor. Dry holes are common and success is far from guaranteed. But Statoil finds itself on a winning streak in offshore Newfoundland and Labrador after announcing …

North America’s shale gale forces Canaport LNG to propose retooling its operation In the winter of 2013, Repsol ended its unsuccessful attempt to sell the Canaport LNG import terminal it owns with Irving Oil Ltd. in Saint John, N.B.. But now the Spanishbased oil and …

Junior miner on the hunt for capital to prove up promising project The Big Easy property has been anything but for Silver Spruce Resources Inc. president and CEO Peter Dimmell. Tight capital markets are making life difficult for the Bridgewater, Nova Scotia-based junior miner as …

Wind power capacity increases in Atlantic Canada as the region greens its grid In the year 2000 there were just 137 megawatts of installed wind energy capacity in Canada. As of June 2013, the Canadian Wind Energy Association says that number is 6,578 MW. While …

Placentia, N.L. to host $2.5 billion construction contract for White Rose Extension Project When Husky Energy, Suncor Energy and Nalcor Energy announced on October 10 that the White Rose Extension Project was going to have its own wellhead platform, they simultaneously heralded a new era …

Newfoundland and Labrador Hydro’s 2014 capital budget $30 million more than 2013 budget Delivering electricity to residents and businesses in Newfoundland and Labrador doesn’t come cheap. That was apparent when Newfoundland and Labrador Hydro filed its annual capital budget for 2014 with the province’s Public …

Western producers eye Saint John port to get landlocked oil to lucrative markets The Port of Saint John could be hosting some very big visitors if TransCanada Corp.’s proposed Energy East Pipeline project is approved and built. The Calgarybased pipeline company announced in August it …

A field of green has replaced what was once the open pit Coalburn mine in Nova Scotia’s Pictou County. Photo: Devaan Ingraham “THIS WAS ONCE A BIG, BLACK HOLE,” Sean Kirby says as we look at young children enjoying a small playground on a cloudless …

DRIVE 100 KILOMETRES northwest of Fredericton, New Brunswick and you can be near one of North America‚Äôs great undeveloped tungsten-molybdenum deposits. The ore body was discovered in the late 1950s, yet its mineral wealth has remained untapped for decades. A junior mining company hopes to …

New order

October 24, 2013 // 0 Comments

LARGE OIL DISCOVERIES ATTRACT ATTENTION.And in late September Statoil ASA announced a big one: it had discovered between 300 and 600 million recoverable barrels of light, sweet crude oil at its Bay du Nord prospect in Newfoundland and Labrador’s Flemish Pass Basin. The discovery, made …

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