CALGARY, ALBERTA--(Marketwired - Jan. 7, 2014) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce that Mr. Greg Tisdale has joined its Board of Directors effective today. Mr. Tisdale is the Chief Financial Officer of Crescent Point Energy Ltd., a role he has held since 2004. During the past ten years he has managed all aspects of Crescent Point's finances. Mr. Tisdale has worked in the oil and gas industry since 1995 and has served and currently serves on the [Read more]
Archives for January 2014
American oil companies call for end to export ban
NEW YORK - American oil companies have not been allowed to export crude for 40 years, but the industry wants to change that, even though the U.S. still consumes far more oil than it produces. A surprising surge in domestic production of light, sweet crude — a particular type of oil that foreign refiners covet — has triggered growing calls to lift the restrictions, which were put in place after the Arab oil embargo of 1973. But the idea is touching a nerve that remains raw four decades [Read more]
Kitimat residents to vote on Northern Gateway
KITIMAT, B.C. - District of Kitimat Council voted Monday night to hold a plebiscite to exactly determine the thoughts of the North Coast community regarding Enbridge Northern Gateway project. District council and staff will decide the actual question for voters and the date for the non-binding, referendum-style vote in the coming weeks. The council decision follows the Dec. 19 release of the Northern Gateway Joint Review Panel decision that approved the pipeline and tanker project carrying [Read more]
POLL: majority of Americans want Keystone built
According to a Rasmussen Survey released Monday, the majority of Americans favor building the Keystone XL pipeline. Of likely US voters, 57% at least somewhat favor building the pipeline, while 28% oppose. The decision on pipeline approval is expected to come as early as March. [Read more]
Bellatrix exits 2013 with record production and layers in additional commodity fixed price contracts for 2014
TSX, NYSE MKT: BXE CALGARY, Jan. 7, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce it exited 2013 with record production and provides an update of its recent commodity price risk management activities. 2013 has been an extraordinary year earmarked by record production growth, announcing three separate joint ventures designed to accelerate our program on a promoted basis, an equity financing, redemption of its convertible [Read more]
Crocotta Energy Provides Production and Hedging Update
CALGARY, ALBERTA--(Marketwired - Jan. 7, 2014) - Crocotta Energy Inc. ("Crocotta") (TSX:CTA) is pleased to announce that it produced approximately 9,900 boepd for the last two weeks of December 2013 and achieved its exit guidance rate of 10,500 boepd during that period. Production with extended tests but not on-stream included approximately 1,400 boepd of which 400 boepd is at Edson, AB and 1,000 boepd is at Dawson, BC. The Edson production will be on-stream by mid-January but the Dawson well is [Read more]
Oil rises as extreme cold temps grip U.S.
KUALA LUMPUR, Malaysia - The price of oil rose Tuesday, with unusually cold weather in the U.S. expected to fuel demand. Benchmark U.S. oil for February delivery was up 27 cents to US$93.70 a barrel at mid-afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 53 cents to settle at $93.43 a barrel on Monday. Brent crude, used to set prices for international varieties of crude, rose 66 cents to $107.39 in London. Crude prices were [Read more]
Lubicon First Nation appeals drilling injunction
CALGARY - A First Nation is appealing a court injunction against a blockade of an energy company's drilling site in northern Alberta.The Lubicon Lake Nation says the injunction granted to PennWest Petroleum Ltd. (TSX:PWT) last month gives the company unfettered access to an oil hydraulic fracturing site in the heart of its traditional territory.In its appeal, the Lubicon Lake Nation says it will raise constitutional issues about aboriginal rights that it says the court failed to consider when [Read more]
Whitecap Resources Inc. closes Viking light oil acquisition and provides Q1 2014 outlook
CALGARY, Jan. 6, 2014 /CNW/ - Whitecap Resources Inc. ("Whitecap") (TSX: WCP) is pleased to announce that Whitecap has completed the previously announced acquisition of a private company ("PrivateCo") pursuant to a plan of arrangement (the "Arrangement") under the provisions of the Business Corporations Act (Alberta). Whitecap has acquired all of the issued and outstanding common shares of PrivateCo through the issuance of 27,535,867 Whitecap common shares and the assumption of PrivateCo's [Read more]
Lone Pine Resources Announces Creditor Approval of Restructuring Plan
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") today announced that affected creditors of the Company and its subsidiaries have approved, by the required majorities at meetings held today, Lone Pine's previously-announced plan of compromise and arrangement (as amended, the "Plan") under the Companies' Creditors Arrangement Act ("CCAA"). The Plan was approved at the respective creditors' meeting of each company by over 95% of the number of [Read more]