Major announcement coming on Hibernia South Extension project

Staff ~ The Telegram
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Acting Premier and Natural Resources Minister Kathy Dunderdale, along with the province's industry partners in the Hibernia South Extension project, will hold a news conference today at 11:30 a.m. to release details of the project and benefits to the province.
The event will take place at the Delta St. John's Hotel and Conference Centre in St. John's.

Organizations: Delta St. John's Hotel

Geographic location: St. John's

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Recent comments

  • Nasty
    July 02, 2010 - 13:34

    Love seeing people acting like sheep. Then you get to listen to them crying when they have everything taken from them by the banks and creditors. Hope I am wrong, but the industry is what it is. Shareholders first. You and I are in last place over profits.

    Follow the trends people, follow the trends. They have always shown which way to invest or run away from.

  • Had Enough
    July 02, 2010 - 13:30

    Nasty Nate

    Do you have a job, or do you spend all of your time trolling through the internet?

    I have yet to see you post an intelligent comment on any subject matter.

    Nobody is interested in your dribble.

  • I. P. Freely
    July 02, 2010 - 13:26

    Three billion extra dollars for the province! Wow. I hope Mr. Williams puts it all on the debt.

  • Wayne
    July 02, 2010 - 13:24

    The GBS being sent out of the province...lol. Nice facts there Nate, whatever about their accuracy!

  • don
    July 02, 2010 - 13:24

    To George: These are the same folks in New York who told me oil was going to $150 a barrel a couple of years ago. I laughed at them then and said no way. But, they were right and I was wrong. I think I'll take their word for it this time. Just wait, $40 a barrel by December 2012. At the $40 a barrel price Newfoundland won't make any money from the royalties.Then we will see the politicians running for the hills!

  • Nasty
    July 02, 2010 - 13:22

    This should be interesting. Most of the oil and gas industry is scaling back big time. We have seen the start here with the GBS being contracted out of province for Hebron. Time to start cutting more costs here might just around the corner, or this morning.

    Little background on whats on the radar. People should be looking at lower wages if they want to stay employed in this industry. The days of setting your own price are gone.

    Royal Dutch Shell.

    We made it clear 12 months ago that we shall watch the cost situation carefully in the oilsands environment before we take another major expansion step forward, Royal Dutch Shell Chief Executive Officer Peter Voser said during Thursday Febuary 5th 2010 fourth-quarter conference call.

    We have now invested, when the second expansion is on stream, into two mines, and we have potential now through expanding on those mines to add barrels there by optimizing what we have there at a lower capital intensity than compared to a full expansion, so we shall drive that.

    If the costs come into balance, if we have further optimized our operating costs, oilsands will be part of our portfolio.


    Meanwhile, upstream operations worldwide including the oilsands proved not as robust as previous years, with Voser blaming the recession, low commodity prices and a glut on the market of some inventory.

    Our fourth quarter 2009 results were impacted by the weak global economy. Oil prices have increased compared to a year ago, but gas prices and refining margins have declined sharply, because of weaker demand and high industry inventory levels, he said.


    EnCana: If they knew Gas Prices would be this low Deep Panuke would likely have been shelved
    2/15/2010

    N atural gas giant EnCana Corp. sees little market improvement in 2010, saying cost efficiencies, rather than price gains, will boost the producer's bottom line as the commodity struggles to recover.

    Reporting a 41 per cent drop in fourth quarter net profit, En-Cana said Thursday challenges faced in 2009 will continue this year as demand for natural gas remains out of balance with an abundance of supply.

    The biggest issue that impacted the entire natural gas industry was the lowest average commodity price in seven years, chief executive Randy Eresman said during a conference call.

    It is our view that natural gas prices at a lower level than historical expectations are here to stay. And so the companies that can do best in that environment are those that create the plays and have the lowest overall supply costs.

  • Bob
    July 02, 2010 - 13:19

    Nate.....You are clueless!! Get a life man!

  • Penney
    July 02, 2010 - 13:16

    Nasty Nate, you should go by Ignorant Nate since you don't know anything at all. The GBS hasn't been contracted out of the province. Feel free to make up facts but don't confuse others by posting the nonsense publicly. Also, you really think the oil and gas industry is on the wane? The same oil and gas industry that is selling oil at $75 a barrel in a slow economy? The same oil industry that has been ramping up production once again in the oil sands? You get on with some foolish nonsense.

  • member of the 20%
    July 02, 2010 - 13:16

    Major Announcement: The oil consortium operating on Canada's East Coast will hire a receptionist! After eliminating this position years ago when the operators shared office space and resources, it was replaced with an automated loop menu. The Cartel has finally given in to public pressure that oil companies are unapproachable and you just can't get in to see anyone . The position will be part-time, under review and probationary. And in other news, the offshore regulator and production operators will drag their heels for another 25 years before they act on any recommendations of the Wells inquiry.

  • George
    July 02, 2010 - 13:15

    WOW, did you guys ever call it wrong. The announcement is that they are going ahead with Hibernia extension.
    Oil at $40 a barrel next year? Don, your New York contacts lied to you.

  • I. P. Freely
    July 02, 2010 - 13:14

    Nice negative spin there Naty, all the better when you can get your negative tripe out there before the story even hits the news, eh? Why are you citing natural gas, and oil sands info? What has that to do with east coast off shore?As well, what exactly do you mean by saying the GBS will be contracted out?

  • nel
    July 02, 2010 - 13:12

    oil companies......scaling back???
    what planet u living on....??

    in yesterdays papers; globe;telegram
    companies bidding 1.5 BILLION and
    2 BILLION.......
    for just a piece of project in oil sands
    in Alberta.
    new technolgy coming extract higher percentage of oil from tar
    sands using thermo-mechanical
    and thermo-electrial heating...
    using natural gas injection and other type or fuel.....bio fuels.....
    before u know it.....oil probably be at 100 bucks a barrel......
    either way we will still be getting very little from it........and
    spending over dollar litre to fill up the car

  • I.P.
    July 02, 2010 - 13:11

    If Dunderdale is announcing this, Danny must be retiring. Danny always is in on the oil industry press releases and photo ops. We are doomed, please get well soon and come back Danny.

  • don
    July 02, 2010 - 13:09

    More political smoke and mirrors from Dictator Danny's alter ego Kathy Dunderfale. My contacts in New York tell me that crude oil is going to $40 a barrel by the end of 2012. Where will that price leave us? With oil companies pulling up stakes and no real increase in net returns for the provincial treasury, that's where!

  • Nasty
    July 01, 2010 - 20:23

    Love seeing people acting like sheep. Then you get to listen to them crying when they have everything taken from them by the banks and creditors. Hope I am wrong, but the industry is what it is. Shareholders first. You and I are in last place over profits.

    Follow the trends people, follow the trends. They have always shown which way to invest or run away from.

  • Had Enough
    July 01, 2010 - 20:18

    Nasty Nate

    Do you have a job, or do you spend all of your time trolling through the internet?

    I have yet to see you post an intelligent comment on any subject matter.

    Nobody is interested in your dribble.

  • I. P. Freely
    July 01, 2010 - 20:13

    Three billion extra dollars for the province! Wow. I hope Mr. Williams puts it all on the debt.

  • Wayne
    July 01, 2010 - 20:10

    The GBS being sent out of the province...lol. Nice facts there Nate, whatever about their accuracy!

  • don
    July 01, 2010 - 20:10

    To George: These are the same folks in New York who told me oil was going to $150 a barrel a couple of years ago. I laughed at them then and said no way. But, they were right and I was wrong. I think I'll take their word for it this time. Just wait, $40 a barrel by December 2012. At the $40 a barrel price Newfoundland won't make any money from the royalties.Then we will see the politicians running for the hills!

  • Nasty
    July 01, 2010 - 20:06

    This should be interesting. Most of the oil and gas industry is scaling back big time. We have seen the start here with the GBS being contracted out of province for Hebron. Time to start cutting more costs here might just around the corner, or this morning.

    Little background on whats on the radar. People should be looking at lower wages if they want to stay employed in this industry. The days of setting your own price are gone.

    Royal Dutch Shell.

    We made it clear 12 months ago that we shall watch the cost situation carefully in the oilsands environment before we take another major expansion step forward, Royal Dutch Shell Chief Executive Officer Peter Voser said during Thursday Febuary 5th 2010 fourth-quarter conference call.

    We have now invested, when the second expansion is on stream, into two mines, and we have potential now through expanding on those mines to add barrels there by optimizing what we have there at a lower capital intensity than compared to a full expansion, so we shall drive that.

    If the costs come into balance, if we have further optimized our operating costs, oilsands will be part of our portfolio.


    Meanwhile, upstream operations worldwide including the oilsands proved not as robust as previous years, with Voser blaming the recession, low commodity prices and a glut on the market of some inventory.

    Our fourth quarter 2009 results were impacted by the weak global economy. Oil prices have increased compared to a year ago, but gas prices and refining margins have declined sharply, because of weaker demand and high industry inventory levels, he said.


    EnCana: If they knew Gas Prices would be this low Deep Panuke would likely have been shelved
    2/15/2010

    N atural gas giant EnCana Corp. sees little market improvement in 2010, saying cost efficiencies, rather than price gains, will boost the producer's bottom line as the commodity struggles to recover.

    Reporting a 41 per cent drop in fourth quarter net profit, En-Cana said Thursday challenges faced in 2009 will continue this year as demand for natural gas remains out of balance with an abundance of supply.

    The biggest issue that impacted the entire natural gas industry was the lowest average commodity price in seven years, chief executive Randy Eresman said during a conference call.

    It is our view that natural gas prices at a lower level than historical expectations are here to stay. And so the companies that can do best in that environment are those that create the plays and have the lowest overall supply costs.

  • Bob
    July 01, 2010 - 20:02

    Nate.....You are clueless!! Get a life man!

  • Penney
    July 01, 2010 - 19:56

    Nasty Nate, you should go by Ignorant Nate since you don't know anything at all. The GBS hasn't been contracted out of the province. Feel free to make up facts but don't confuse others by posting the nonsense publicly. Also, you really think the oil and gas industry is on the wane? The same oil and gas industry that is selling oil at $75 a barrel in a slow economy? The same oil industry that has been ramping up production once again in the oil sands? You get on with some foolish nonsense.

  • member of the 20%
    July 01, 2010 - 19:56

    Major Announcement: The oil consortium operating on Canada's East Coast will hire a receptionist! After eliminating this position years ago when the operators shared office space and resources, it was replaced with an automated loop menu. The Cartel has finally given in to public pressure that oil companies are unapproachable and you just can't get in to see anyone . The position will be part-time, under review and probationary. And in other news, the offshore regulator and production operators will drag their heels for another 25 years before they act on any recommendations of the Wells inquiry.

  • George
    July 01, 2010 - 19:55

    WOW, did you guys ever call it wrong. The announcement is that they are going ahead with Hibernia extension.
    Oil at $40 a barrel next year? Don, your New York contacts lied to you.

  • I. P. Freely
    July 01, 2010 - 19:53

    Nice negative spin there Naty, all the better when you can get your negative tripe out there before the story even hits the news, eh? Why are you citing natural gas, and oil sands info? What has that to do with east coast off shore?As well, what exactly do you mean by saying the GBS will be contracted out?

  • nel
    July 01, 2010 - 19:49

    oil companies......scaling back???
    what planet u living on....??

    in yesterdays papers; globe;telegram
    companies bidding 1.5 BILLION and
    2 BILLION.......
    for just a piece of project in oil sands
    in Alberta.
    new technolgy coming extract higher percentage of oil from tar
    sands using thermo-mechanical
    and thermo-electrial heating...
    using natural gas injection and other type or fuel.....bio fuels.....
    before u know it.....oil probably be at 100 bucks a barrel......
    either way we will still be getting very little from it........and
    spending over dollar litre to fill up the car

  • I.P.
    July 01, 2010 - 19:48

    If Dunderdale is announcing this, Danny must be retiring. Danny always is in on the oil industry press releases and photo ops. We are doomed, please get well soon and come back Danny.

  • don
    July 01, 2010 - 19:44

    More political smoke and mirrors from Dictator Danny's alter ego Kathy Dunderfale. My contacts in New York tell me that crude oil is going to $40 a barrel by the end of 2012. Where will that price leave us? With oil companies pulling up stakes and no real increase in net returns for the provincial treasury, that's where!