The price of oil fell slightly Wednesday, despite a report of an unexpected decline in the nation's supplies. Benchmark U.S. crude for May delivery slipped 12 cents to close at $99.62 a barrel on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties of oil, dropped 83 cents to $104.79 a barrel on the ICE Futures exchange in London as traders considered the possible reopening of export terminals in Libya. The U.S. Energy Department said Wednesday [Read more]
Archives for April 2014
Artisan Energy Announces Extension to Closing of Viking Light Oil Acquisition and Filing of an Amended Short Form Preliminary Prospectus
CALGARY, ALBERTA--(Marketwired - April 2, 2014) - As previously announced, Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC) and Magnum Energy Inc. ("Magnum") (TSX VENTURE:MEN) have entered into a purchase and sale agreement (subject to certain closing conditions) pursuant to which Artisan will acquire Magnum's 50% operated working interest in 2,720 gross acres (1,360 net acres) of land in the Provost area of Alberta (the "Provost Asset"). The purchase and sale [Read more]
Magnum Energy Inc. Announces Resignation of Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - April 2, 2014) - MAGNUM ENERGY INC. ("Magnum" or the "Corporation") (TSX VENTURE:MEN) - Magnum announces the resignation of Mr. Kelly Kerr as Magnum's Vice President, Finance and Chief Financial Officer effective immediately. The Board wishes to thank Mr. Kerr for his efforts and contribution over the past sixteen months and wish him continued success in his new endeavors. Neither TSX Venture Exchange nor its Regulation Services Provider (as [Read more]
Imperial: Kearl crude a hot commodity for refiners, including one in Malaysia
CALGARY - Imperial Oil Ltd. says 22 refineries — including one in Malaysia — have processed crude from its Kearl oilsands mine, which uses a proprietary technology to remove the "heaviest, gooiest" parts of the bitumen before it's put in a pipeline. Also Wednesday, the company said the mine in northern Alberta produced about 70,000 barrels of crude per day during the first quarter of this year — still a ways from its design capacity of 110,000 barrels. Imperial had initially planned to run [Read more]
Bellatrix announces the successful commissioning of the Blaze pipeline
CALGARY, April 2, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce that Bellatrix has completed a 1.6 km river bore and a 7 km pipeline in conjunction with Blaze Energy Ltd. ("Blaze") completing a 55 km pipeline to tie-in Bellatrix natural gas for processing in the Blaze gas plant located at 04-31-048-12W5. Bellatrix has secured firm processing capacity of 100 MMcf/d in the plant. The pipeline was commissioned on April 1, 2014 [Read more]
Hyperion Exploration Corp. Announces 2013 Year End Reserves, and Development Update for the Niton/McLeod Cardium Light Oil Play
CALGARY, ALBERTA--(Marketwired - April 2, 2014) - Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) announces its 2013 year end reserves and a development update for its Niton/McLeod Cardium light oil play. Certain financial estimates have been made herein to facilitate the disclosure of the Company's 2013 capital program and reserves. Readers are advised that these financial estimates are subject to the disclosure to be contained in the audited financial statements of [Read more]
Canadian Natural Resources Limited Completes the Acquisition of Certain Canadian Assets of Devon Canada
CALGARY, ALBERTA--(Marketwired - April 2, 2014) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that the agreement relating to the acquisition of Devon Canada's Canadian conventional assets, excluding Horn River and the heavy oil properties, has been completed. Canadian Natural will immediately integrate the acquired properties into its ongoing operations. The acquired production, infrastructure and land add to Canadian Natural's [Read more]
Cenovus prepays refining partnership contribution payable
Early payment reduces interest costs CALGARY, April 1, 2014 /CNW/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has prepaid its US$2.7 billion partnership contribution payable to WRB Refining LP of which Cenovus is a 50% owner. This resulted in a net cash payment of approximately US$1.35 billion from Cenovus. With the creation of WRB Refining in 2007, Cenovus's U.S. partner, Phillips 66, contributed the Wood River and Borger refineries and Cenovus contributed a note payable of US$7.5 billion. [Read more]
Petrolia Announces the Closing of the Anticosti Transaction
QUÉBEC CITY, QUÉBEC--(Marketwired - April 1, 2014) - Pétrolia (TSX VENTURE:PEA) announces that it has closed the Anticosti transaction originally disclosed on February 13, 2014. The closing of this transaction has resulted in the creation of a limited partnership that will own and operate the interests on Anticosti Island that were previously held by Pétrolia and Corridor Resources Inc. The following is a list of the limited partners and their ownership percentages: Partners Percentage [Read more]
Oil slips below $100 on weak China manufacturing data, forecast of rising US crude supplies
NEW YORK - The price of oil fell 1.6 per cent Tuesday to just below $100 a barrel, dented by soft Chinese manufacturing figures and expectations of another increase in U.S. crude stockpiles. Benchmark U.S. crude for May delivery was down $1.61 to $99.97 a barrel in afternoon trading on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties of oil used by many U.S. refineries, was down $1.72 to $106.04 a barrel in London. Data showing weak [Read more]