Dominion Lending Centres Clearlease Reports Reports Canadian Natural (TSX:CNQ) Cenovus (TSX:CVE) no risk at Pelican Bay
VANCOUVER, BC (May 17, 2011) Clearlease Reports Production from a northern Alberta heavy oil pool was slowing Tuesday May 17, 2011, as unpredictable wildfires continued to burn across the region.
Canadian Natural Resources Ltd. (TSX:CNQ) and Cenovus Energy Inc. (TSX:CVE) both say the flames were not posing a risk to their facilities at Pelican Lake, about 90 kilometres northeast of the devastated town of Slave Lake, Alta..
However, the oil they produce has nowhere to go. Electricity is out in much of the region and that means pumps along a nearby pipeline aren’t working. The companies have been putting their oil into storage tanks, but those are quickly filling up.
“Right now we’re slowing down, but we’re not shut in at Pelican,” Canadian Natural chief operating officer Steve Laut told reporters Tuesday at the company’s investor open house.
“Probably in the next day or so, Pelican will be shut down unless the pipeline starts back up again and starts pumping.”
Canadian Natural produces about 40,000 barrels per day at Pelican Lake. Laut said it will be relatively simple to restart production once the situation improves.
Cenovus said it, too, is starting to slow down its Pelican Lake operations, which normally produce 22,000 barrels of oil per day.
“The company anticipates storage may be full Wednesday and production would likely have to stop until the pipeline is operating again,” Cenovus said in a release.
The affected pipeline is Plains Midstream Canada’s Rainbow system. Another portion of the line broke last month, spilling 28,000 barrels of crude. The wildfires have hampered cleanup efforts there.
As of Tuesday morning, there were 100 wildfires in Alberta, 23 of which were out of control. The blazes have burned some 105,000 hectares of land.
In the Lesser Slave Lake area alone, about 15 were burning out of control. Penn West Exploration (TSX:PWT) and Exall Energy Corp. (TSX:EE) have shut down production in that region.
The fires were also causing problems near Canadian Natural’s Horizon mine north of Fort McMurray, Alta..
Flames came close to a work camp on Monday, but on Tuesday that danger had largely passed. Two lodges have been evacuated and the 1,300 workers have not yet been cleared to return.
The company was also working to keep flames away from blocks of sulphur, which are a byproduct of the oilsands extraction process. Laut said that material is flammable, and could release harmful emissions if it burns.
Canadian Natural is in the process of rebuilding part of an upgrader that was badly damaged in a fire in January, and production at Horizon isn’t expected to start up until next month.
“Obviously we haven’t done anything yesterday, and I don’t know if we’re doing anything today, mainly because there’s a lot of smoke going through there,” Laut said Tuesday. “You don’t want to take a safety risk.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC (May 17, 2011) Clearlease Reports Production from a northern Alberta heavy oil pool was slowing Tuesday May 17, 2011, as unpredictable wildfires continued to burn across the region.
Canadian Natural Resources Ltd. (TSX:CNQ) and Cenovus Energy Inc. (TSX:CVE) both say the flames were not posing a risk to their facilities at Pelican Lake, about 90 kilometres northeast of the devastated town of Slave Lake, Alta..
However, the oil they produce has nowhere to go. Electricity is out in much of the region and that means pumps along a nearby pipeline aren’t working. The companies have been putting their oil into storage tanks, but those are quickly filling up.
“Right now we’re slowing down, but we’re not shut in at Pelican,” Canadian Natural chief operating officer Steve Laut told reporters Tuesday at the company’s investor open house.
“Probably in the next day or so, Pelican will be shut down unless the pipeline starts back up again and starts pumping.”
Canadian Natural produces about 40,000 barrels per day at Pelican Lake. Laut said it will be relatively simple to restart production once the situation improves.
Cenovus said it, too, is starting to slow down its Pelican Lake operations, which normally produce 22,000 barrels of oil per day.
“The company anticipates storage may be full Wednesday and production would likely have to stop until the pipeline is operating again,” Cenovus said in a release.
The affected pipeline is Plains Midstream Canada’s Rainbow system. Another portion of the line broke last month, spilling 28,000 barrels of crude. The wildfires have hampered cleanup efforts there.
As of Tuesday morning, there were 100 wildfires in Alberta, 23 of which were out of control. The blazes have burned some 105,000 hectares of land.
In the Lesser Slave Lake area alone, about 15 were burning out of control. Penn West Exploration (TSX:PWT) and Exall Energy Corp. (TSX:EE) have shut down production in that region.
The fires were also causing problems near Canadian Natural’s Horizon mine north of Fort McMurray, Alta..
Flames came close to a work camp on Monday, but on Tuesday that danger had largely passed. Two lodges have been evacuated and the 1,300 workers have not yet been cleared to return.
The company was also working to keep flames away from blocks of sulphur, which are a byproduct of the oilsands extraction process. Laut said that material is flammable, and could release harmful emissions if it burns.
Canadian Natural is in the process of rebuilding part of an upgrader that was badly damaged in a fire in January, and production at Horizon isn’t expected to start up until next month.
“Obviously we haven’t done anything yesterday, and I don’t know if we’re doing anything today, mainly because there’s a lot of smoke going through there,” Laut said Tuesday. “You don’t want to take a safety risk.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Reports Canadian Natural (TSX:CNQ) Cenovus (TSX:CVE) no risk at Pelican Bay
VANCOUVER, BC (May 17, 2011) Clearlease Reports Production from a northern Alberta heavy oil pool was slowing Tuesday May 17, 2011, as unpredictable wildfires continued to burn across the region.
Canadian Natural Resources Ltd. (TSX:CNQ) and Cenovus Energy Inc. (TSX:CVE) both say the flames were not posing a risk to their facilities at Pelican Lake, about 90 kilometres northeast of the devastated town of Slave Lake, Alta..
However, the oil they produce has nowhere to go. Electricity is out in much of the region and that means pumps along a nearby pipeline aren’t working. The companies have been putting their oil into storage tanks, but those are quickly filling up.
“Right now we’re slowing down, but we’re not shut in at Pelican,” Canadian Natural chief operating officer Steve Laut told reporters Tuesday at the company’s investor open house.
“Probably in the next day or so, Pelican will be shut down unless the pipeline starts back up again and starts pumping.”
Canadian Natural produces about 40,000 barrels per day at Pelican Lake. Laut said it will be relatively simple to restart production once the situation improves.
Cenovus said it, too, is starting to slow down its Pelican Lake operations, which normally produce 22,000 barrels of oil per day.
“The company anticipates storage may be full Wednesday and production would likely have to stop until the pipeline is operating again,” Cenovus said in a release.
The affected pipeline is Plains Midstream Canada’s Rainbow system. Another portion of the line broke last month, spilling 28,000 barrels of crude. The wildfires have hampered cleanup efforts there.
As of Tuesday morning, there were 100 wildfires in Alberta, 23 of which were out of control. The blazes have burned some 105,000 hectares of land.
In the Lesser Slave Lake area alone, about 15 were burning out of control. Penn West Exploration (TSX:PWT) and Exall Energy Corp. (TSX:EE) have shut down production in that region.
The fires were also causing problems near Canadian Natural’s Horizon mine north of Fort McMurray, Alta..
Flames came close to a work camp on Monday, but on Tuesday that danger had largely passed. Two lodges have been evacuated and the 1,300 workers have not yet been cleared to return.
The company was also working to keep flames away from blocks of sulphur, which are a byproduct of the oilsands extraction process. Laut said that material is flammable, and could release harmful emissions if it burns.
Canadian Natural is in the process of rebuilding part of an upgrader that was badly damaged in a fire in January, and production at Horizon isn’t expected to start up until next month.
“Obviously we haven’t done anything yesterday, and I don’t know if we’re doing anything today, mainly because there’s a lot of smoke going through there,” Laut said Tuesday. “You don’t want to take a safety risk.”
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk