Significant Developments in Canadian Energy, January 2013

Oil Sands News

Enbridge has announced a $400 million expansion of its Canadian mainline system between Hardisty, Alberta and the United States border to accommodate increased heavy and light oil production. The expansion will add 230,000 bpd of capacity, increasing the line's total capacity to its maximum of 800,000 bpd. The expansion has been approved by mainline shippers and is expected to be in - service by 2015.

Bellatrix Exploration has announced that it has entered into a joint venture agreement with an unnamed South Korean partner to accelerate the development of its undeveloped Cardium land holdings in west - central Alberta. Under the terms of the agreement, each partner will contribute 50 percent of the $300 million total capital investment to the joint venture to participate in an 83 Cardium well program.