By Lauren Krugel, The Canadian Press CALGARY - Oilsands producer MEG Energy Corp. is working around pipeline bottlenecks by using railcars and barges to get its crude to market. At the heart of what it calls its "hub and spoke" strategy is the Stonefell storage terminal near Edmonton, which MEG expects to complete in mid-2013. Don Moe, vice president of supply and marketing, says the terminal can serve as a launch point for pipeline and rail connections. The company has a [Read more]
Archives for January 2013
Canadian Oil Sands Announces 2012 Financial Results and a $0.35 Per Share Dividend
Canadian Oil Sands Limited (COS.TO) (COSWF) All financial figures are unaudited and in Canadian dollars unless otherwise noted. Highlights for the three months and year ended December 31, 2012: Cash flow from operations was $418 million ($0.86 per Share) in the fourth quarter of 2012 compared with cash flow from operations of $363 million ($0.75 per Share) in the same quarter of 2011. For the 2012 year, cash flow from operations totalled $1,581 million ($3.26 per Share), down 17 per [Read more]
Baytex to Present at Credit Suisse Energy Summit
Baytex Energy Corp. (BTE.TO) (BTE) is pleased to announce that James Bowzer, President and Chief Executive Officer, will be presenting at the Credit Suisse Energy Summit on Thursday, February 7, 2013 at 8:05 am MST (10:05 am EST) in Vail, Colorado. Interested parties can listen to a live webcast and view the presentation slides via the following URL: http://cc.talkpoint.com/cred001/020413a_am/?entity=4_DME4VMX A replay will be available on the Baytex website, www.baytex.ab.ca, for six [Read more]
Twin Butte Energy Ltd. Provides Corporate and Operational Update
Twin Butte Energy Ltd. ("Twin Butte" or the "Company") is pleased to provide an update on various corporate activities. Twin Butte anticipates releasing Q4 and year end 2012 financial and operating results on March 21, 2013. The Company further anticipates that the year end 2012 independent reserve analysis will be complete within the next three weeks and intends to issue a press release with a summary of such results at that time. Unaudited Q4 and full year 2012 corporate performance met [Read more]
Natural Gas Stocks Drop 194 BCF
01/18/13: 2,996 Bcf 01/25/13: 2,802 Bcf Change: -194 Bcf [table] [attr style="width: 25%"]`[attr style="width: 25%"]01/25/13`[attr style="width: 25%"]01/18/13`[attr style="width: 25%"]Change East`1,391`1,520`-129 West`398`416`-18 Producing`1,013`1,060`-47 Total`2,802`2,996`-194 [/table] Source: EIA [Read more]
Palliser Oil & Gas Closes Bought Deal Financing
Palliser Oil & Gas Corporation ("Palliser"), is pleased to announce that it has closed its previously announced short form prospectus offering on a "bought deal" basis of 5,000,000 common shares (the "Common Shares") of Palliser for aggregate gross proceeds of $3,150,000 (the "Offering"). The Offering was completed by a syndicate of underwriters led by Octagon Capital Corporation and including PI Financial Corp., Acumen Capital Finance Partners Limited and Paradigm Capital Inc. About [Read more]
Shell profit up 2.6 per cent to $6.67 billion in fourth quarter, bullish on future prospects
AMSTERDAM, Netherlands - Royal Dutch Shell PLC said Thursday it plans to continue investing aggressively in new projects in the coming years, as it sees a bright future for the oil and gas industry despite ongoing economic uncertainties around the world. Overall, Europe's largest oil company was bullish as it reported an increase in fourth-quarter earnings: it said global energy demand is rising due to population increases and improving standards of living in developing [Read more]
Edge President Reviews 2012 Achievements and Provides Corporate Update
Edge Resources Inc. (TSX VENTURE:EDE) Dear Shareholders, In light of our upcoming drilling program in February and the current volatility and uncertainty in both the equity and natural resources markets, I would like to summarize 2012 and provide a strategic and operational outlook for 2013. 2012 marked a year of major accomplishments and transition for Edge Resources and I am very pleased with the achievements we have made. Amongst these, and perhaps the most significant for [Read more]
TriOil comments on recent market developments
TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) confirms that on January 30, 2013 it received a letter from Andylan Capital Strategies Ltd. ("Andylan") requesting various initiatives be undertaken by TriOil as set forth in the Andylan press release dated January 30, 2013 (the "Andylan Letter"). TriOil advises that its Board of Directors (the "Board") will review the Andylan Letter and will take such steps as the Board determines to be in the best interests of the Company and its [Read more]
Crocotta Energy Provides 2013 Guidance and Operational Update
Crocotta Energy Inc. ("Crocotta" or the "Company") (CTA.TO) is pleased to announce 2013 Guidance and Operations Update. Crocotta has grown organically from 2,200 boepd at the start of 2010 to over 8,500 boepd solely by drilling its current Bluesky and Cardium projects at Edson and its Montney project at Dawson. Average capital efficiency for the projects (on-stream cost divided by year #1 average production) has been less than $15,000 per boepd with finding and development costs on a [Read more]
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