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US Crude Oil Railroad Shipments Triple In 2012

  OMAHA, Neb. - The amount of crude oil U.S. freight railroads hauled last year more than tripled as shale oil production surged in North Dakota and other locations. The Association of American Railroads trade group said U.S. freight railroads hauled 233,811 carloads of crude oil in 2012. That’s up from 65,751 carloads the previous year. Crude oil shipments still represent less than 1 percent of all the carloads railroads haul, but it has been growing significantly in recent years. [Read more]

Pace Oil & Gas Ltd., AvenEx Energy Corp. and Charger Energy Corp. Agree to Adjourn Shareholder Meetings, Amend Arrangement Agreement and Announce Governance Changes

CALGARY, ALBERTA--(Marketwire - Feb. 25, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. Pace Oil & Gas Ltd. ("Pace") (PCE.TO), AvenEx Energy Corp. ("AvenEx") (AVF.TO) and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) announced today that they have amended certain terms of the previously disclosed arrangement agreement (the "Agreement") [Read more]

SPOOKED! Stock market plunges on Italy election worries

By Canadian Press/BOE Report NEW YORK — U.S. stocks are dropping sharply as investors worry that Italy could be seized with political paralysis, stymieing the country’s economic reforms and causing another flare-up in the region’s debt crisis. The Dow Jones industrial average plunged 216 points to 13,784 Monday, a loss of 1.6 percent and the biggest drop since November. The Standard & Poor’s 500 dropped 27 points, or 1.8 percent, to 1,487, and the VIX soared 35% to 18.99. The TSX [Read more]

Low gas prices scuttle carbon capture deal with Alberta government

  By Bob Weber EDMONTON — Another company has pulled the plug on one of the Alberta government’s high-profile projects to capture and store carbon created by the energy industry. Swan Hills Synfuels and the province announced Monday that they will discontinue a $285-million funding agreement that would have seen underground coal converted to gas and then burned to generate electricity. The carbon dioxide would have been stripped out and sold to nearby oilfields to boost [Read more]

Shell consortium gets nod from Ottawa for 25 year LNG export licence

  VANCOUVER - The federal government has approved a 25-year export licence for shipping liquefied natural gas from a West Coast terminal proposed by a consortium headed by Shell. Natural Resources Minister Joe Oliver says the approval for LNG Canada Development Inc. is a milestone in British Columbia's plans for a trillion-dollar LNG sector. Flanked by Ellis Ross, the chief of the Haisla Nation on B.C.'s North Coast, Oliver says global energy demand is expected to increase by 35 [Read more]

Nexen posts loss of $6M in the fourth quarter; revenue slips to $1.58B

  CALGARY - Nexen Inc. (TSX:NXY.TO), the Calgary-based oil and gas producer being taken over by a state-owned Chinese company, says it sank into the red in the fourth quarter. Nexen, citing impairment charges on natural gas properties in the U.S. and Canada and costs associated with its Long Lake oilsands project, says its net loss in the three months ended in December was $6 million or two cents per diluted share. That was a big reversal from last year's fourth-quarter profit of [Read more]

Anderson Energy Ltd. Provides Operations and Reserves Update

CALGARY, ALBERTA--(Marketwire - Feb 25, 2013) - Anderson Energy Ltd. ("Anderson" or the "Company") (AXL.TO) provides the following update on its operations and key results of its year end reserves evaluation. The Company continues to focus on its Cardium light oil assets: 75% of proved plus probable BOE reserves volumes are from the Cardium formation; 90% of proved plus probable pre-tax NPV 10% reserves value is from the Cardium formation; 55% of current BOE production is from Cardium [Read more]

Manitok Energy Inc. Announces Strong Initial Flow Rates on Its Latest Two Stolberg Cardium Oil Wells

CALGARY, ALBERTA--(Marketwire - Feb. 25, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to provide an update on its 2013 drilling program. Manitok's 10th and 11th Stolberg Cardium oil wells are both horizontal wells drilled at the southern end of the Stolberg trend. By design, both wells were drilled significantly deeper in the structured [Read more]

DeeThree Exploration Provides 2013 Guidance and Significant Belly River Results

CALGARY, ALBERTA--(Marketwire - Feb 25, 2013) - DeeThree Exploration Ltd. ("DeeThree" or the Company") (DTX.TO) (DTHRF) announces its 2013 guidance and provides an operational update. DeeThree 2013 Guidance Summary Building on the operational and exploration success of 2012, DeeThree plans a 2013 capital program of approximately $150 million focused on increasing oil production from its Alberta Bakken property in the Lethbridge area of southern Alberta and its Belly River property in the [Read more]

Donnybrook Announces Agreement to Sell Simonette and Resthaven Assets

CALGARY, ALBERTA--(Marketwire - Feb 25, 2013) - Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) reports that it has entered into an asset exchange agreement (the "Asset Exchange Agreement") and an arrangement agreement (the "Arrangement Agreement") with Cequence Energy Ltd. ("Cequence") (CQE.TO) to sell the Company''s interest in its Simonette and Resthaven oil and gas properties for consideration consisting of 10.3 million common shares of Cequence ("Cequence Shares") [Read more]