CALGARY, Nov. 4, 2014 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") is pleased to announce that it has now closed the previously announced acquisition of certain petroleum and natural gas assets located in several areas of the Western Canadian foothills, including the Brown Creek, Stolberg, Deanne, Burnt Timber, Moose, Jumping Pound, and Ricinus areas in Alberta (collectively, the "Assets"). The purchase price was $23.2 MM, which is subject to adjustments. Current production [Read more]
Archives for November 2014
Penn West Announces its Financial Results for the Third Quarter Ended September 30, 2014 and Preliminary 2015 Outlook
CALGARY, Nov. 5, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("Penn West", the "Company", "we", "us" or "our") is pleased to announce its financial results for the third quarter ended September 30, 2014. All figures are in Canadian dollars unless otherwise stated. Certain comparative figures for the three and nine month periods ended September 30, 2013 are as restated. Three months ended September 30 Nine months ended September [Read more]
Even Canadian oil could be affected: A look at wide-ranging U.S. midterm results
WASHINGTON - It didn't take the Canadian government long to note the far-reaching policy implications of the Republican wave in Tuesday's midterm U.S. elections.It swept the party to power in both chambers of Congress. And it carried into state races, where Republicans were flirting with an 82-year-old party record for most governorships. And it left President Barack Obama wobbling with the unwanted distinction of most seats lost throughout a presidency since the Second World War.But, as Jason [Read more]
Baytex Announces Receipt of Proposal Letter from the Canada Revenue Agency
CALGARY, ALBERTA--(Marketwired - Nov. 4, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announces that certain of its indirect subsidiaries have received a letter (the "Proposal Letter") from the Canada Revenue Agency (the "CRA") advising that, subject to submissions by Baytex, the CRA is proposing to reassess those subsidiaries to deny non-capital loss deductions relevant to the calculation of income taxes for the years 2011 through 2013. In 2010, Baytex acquired several private [Read more]
Whitecap Resources Inc. announces 2014 third quarter results and 2015 budget
CALGARY, Nov. 4, 2014 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that we have filed on SEDAR our unaudited interim financial statements and related Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2014. Selected financial and operational information is outlined below and should be read in conjunction with Whitecap's unaudited interim financial statements and related MD&A which are [Read more]
Arsenal Energy Inc. Announces 2014 Third Quarter Results and Declares Quarterly Dividend
CALGARY, ALBERTA--(Marketwired - Nov. 4, 2014) - Arsenal Energy Inc. ("Arsenal") (TSX:AEI)(PINKSHEETS:AEYIF) is pleased to release its 2014 Q3 financial and operational results. Cash flow for the third quarter was $15.0 million or $0.89 per common share, a 28% increase from 2013 Q3. The Board of Directors has declared a quarterly dividend of $0.07 per common share. The dividend is payable on November 28, 2014 (in cash or, if a shareholder has enrolled in Arsenal's Dividend Reinvestment Plan, [Read more]
Oil prices hit multi-year lows, offering some economies a boost to spending, investment
LONDON - Oil prices slumped to multi-year lows on Tuesday after Saudi Arabia cut the price of oil sold to the U.S., a move that is shaking an already volatile market but will likely give the world economy an unexpected stimulus.The 25 per cent or so slide in oil prices since the summer could boost consumer spending and business investment in many economies around the world as fuel bills fall.But not everyone's a winner. Oil producing countries like Russia and Venezuela, which have high [Read more]
Crescent Point Energy Announces Passing of Director Ken Cugnet
CALGARY, ALBERTA--(Marketwired - Nov. 4, 2014) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) (NYSE:CPG) announces with profound sadness the passing of its long-time board member and friend, Ken Cugnet, on October 30, 2014. Mr. Cugnet joined Crescent Point in 2003 and served on the board for the past 11 years, providing his expertise and knowledge of business and operations, particularly in southeast Saskatchewan. He was the president of Valleyview Petroleum and [Read more]
TransCanada plans $2.7 billion expansion of natural gas transmission capacity
CALGARY - The price tag for the controversial Keystone XL pipeline has risen by about half to US$8 billion, TransCanada Corp. (TSX:TRP) said Tuesday as the U.S. regulatory process drags into its seventh year.TransCanada had previously pegged the cost of Keystone XL at US$5.4 billion, but has long signalled that the longer it's forced to wait for a permit, the more expensive the pipeline would become. As of Sept. 30, TransCanada had sunk $2.4 billion into the project.Keystone XL would connect to [Read more]
Madalena Announces New Oil & Gas Discovery
TSXV Trading Symbol: MVNOTC Trading Symbol: MDLNF CALGARY, Nov. 4, 2014 /CNW/ - Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTC: MDLNF) is pleased to provide the following operational update. KEY HIGHLIGHTS: CANADA Successfully drilled and completed a new horizontal oil and gas exploration discovery (100% WI) in the Nordegg formation on Madalena's Western Canadian assets. This new discovery well flowed continuously up 7 inch casing and ended its initial clean-up period [Read more]