Category Archives: Apache

CBC.ca

Why the media coverage of the Tim Hortons boycott is a double double failure

The headline on Thursday’s CBC.ca coverage of the sudden controversy over a boycott  in British Columbia of Tim Horton’s over the Enbridge ads sums up everything that’s wrong about media coverage not only of the boycotts, but of northwest energy and environment issues overall. “Tim Hortons yanks Enbridge ads, sparks Alberta backlash.” The anger at Tim Hortons across northwest British Columbia over those Enbridge ads, the calls for a boycott have been building for more than two weeks but no one in the media noticed…

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Open house

Bish Forest Service Road reopens to the public on March 1, 2015

The Bish Forest Service Road will reopen to the public on March 1, 2015. With the upgrades created by the Chevron-led Kitimat LNG project, the single lane logging rough logging is now a high quality gravel “resource road.” The first 12 kilometres of the road will be open “to provide public access to connecting roads, recreational areas and natural hiking trails,” Chevron says. “In terms of Kitimat specifically we’ve completed a number of key projects,” said David Molinski, Chevron’s lead for Regulatory and External Affairs. “We’ve…

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First Nations Limited Partnership

Moricetown band joins Pacific Trail Partnership, Kitimat LNG now has all First Nation councils on board

Chevron,  the lead corporation in the Kitimat LNG project announced on January 23 that the Moricetown Indian Band had agreed to join the First Nations Limited Partnership, in effect, approving the Pacific Trail Pipeline that would take natural gas to the project in Kitimat. Here is the news release from all parties involved. Vancouver, British Columbia, January 23, 2015 – The First Nations Limited Partnership (FNLP) today announced that Moricetown Indian Band (Moricetown) has joined the FNLP. The FNLP is a commercial partnership that, with…

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Apache Corporation

Apache sells Kitimat LNG stake to Australia’s Woodside Petroleum

Apache Corporation today announced it has agreed to sell its interest in two LNG projects, Wheatstone LNG and Kitimat LNG, along with accompanying upstream oil and gas reserves, to  Australila’s Woodside Petroleum Limited for a purchase price of $2.75 billion. The news release says: Apache will also be reimbursed for its net expenditure in the Wheatstone and Kitimat LNG projects between June 30, 2014, and closing which is estimated to be approximately $1 billion. Under the terms of the agreement, Apache will sell its equity…

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Woodside Petroleum

Aussie energy company eyeing Apache stake in Kitimat: media reports

The Australian Business Review is reporting that Woodside Petroleum, a cash rich Australian energy company, has its eye on Apache’s 50 per cent stake in the Kitimat LNG project. As part of any deal, Woodside would probably also have to buy Apache’s stake in the Australian Wheatstone LNG project, which is also up for sale. The months-long process by Apache to find a new home for its West Australian domestic gas business and its stake in the under-construction Wheatstone LNG project — as well as…

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Apache Corporation

Apache still looking for buyer for Kitimat LNG stake

Apache Corp is still looking for a buyer for its stake in the Kitimat LNG project,  company CEO Steven Farris told investors Thursday as the company reported its third quarter results. Farris gave no details, just telling an investor conference call, that as he reported during the second quarter call, that company intends to “completely exit” both the Kitimat LNG project and the Wheatstone LNG project in Australia.   All Farris would say is, “We have lots of people working on the projects to do…

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Chevron Logo

Chevron sells 30% of Canadian Duvernay shale gas assets to Kuwait

Chevron Corporation says its wholly-owned subsidiary, Chevron Canada Limited, has reached agreement to sell a 30 per cent interest in its Duvernay shale gas  play to Kuwait Foreign Petroleum Exploration Company’s wholly-owned subsidiary, KUFPEC Canada Inc., for $1.5 billion. The total purchase price includes cash paid at closing as well as a carry of a portion of Chevron Canada’s share of the joint venture’s future capital costs. The Duvernay is located in west-central Alberta, and is believed to be among the most promising shale opportunities…

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Bish Cove

Chevron sticks with Kitimat but no final investment decision until customers sign

Chevron is sticking with the Kitimat LNG project but won’t make a Final Investment Decision until it has signed sales and purchase agreements for between 60 and 70 per cent of the natural gas, Chevron’s vice-chairman and executive vice-president of upstream operations, George Kirkland told investment analysts in a conference call Friday. Kirkland said that decision will happen “irrespective of what happens with Apache,” which has decided to completely exit the project. “We need to get partnership resolved and Apache has to move through the…

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Bish Cove Kitiamt

Apache to “completely exit” from Kitimat LNG as company refocuses

Apache will “completely exit” the Kitimat LNG project, company CEO Steven Farris told investors Thursday as the company reported its second quarter results. The pull out from Kitimat is part of a plan by Apache to spin off assets that are not part of its “base business” so it can concentrate on its “North American onshore assets.” “We have said for some time that Canada is part of our North American onshore portfolio,” Farris told analysts in a conference call. “Certainly we have two businesses…

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Jana Logo

Dump out of Kitimat, New York hedge fund tells Apache

A New York hedge fund, also known as an aggressive activist investor, which just bought a huge stake in Apache, is urging the company to get out of the Kitimat LNG project. Numerous media reports say that Jana Partners recently bought a one billion dollar stake in the Houston and Calgary based oil and natural gas producer. Bloomberg reports that Jana is a $10 billion hedge-fund firm run by Barry Rosenstein “known for pushing corporate managements to make changes” According to both Bloomberg and the…

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