BOE Report

BOE Report Staff

  • X

Canada rig count up from last week

[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`500`151`651 Last Week`480`151`631 Last Year`516`189`705 Week over Week Change`+20`+0`+20 Year over Year Change`-16`-38`-54[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read more]

Storm Resources Ltd. Announces Closing of Asset Disposition

CALGARY, ALBERTA--(Marketwire - Feb 15, 2013) - STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) advises that the disposition of 275 Boe per day of production in the Grande Prairie area of northwest Alberta, as announced on January 23, 2013, has closed. Proceeds from the disposition of $18 million, prior to normal adjustments, will be applied in reduction of bank debt. Pro forma net debt at December 31, 2012 is estimated to be $24 million after giving effect to this disposition and a smaller [Read more]

US Oil prices fall over $2 on weak European economic data

By Canadian Press/BOE Report Oil prices fell below $96 after disappointing European economic figures highlighted the region's parlous growth outlook. Figures Thursday showed economic output in Germany, Europe's biggest economy, contracted by more than anticipated in the last three months of 2012. And France, Europe's second-biggest economy, also saw output drop. As a result, the recession across the 17 European Union countries that use the euro deepened during the quarter. Caroline [Read more]

AvenEx Energy Corp. Closes Sale of Elbow River Marketing Business

CALGARY, ALBERTA--(Marketwire - Feb. 15, 2013) - AvenEx Energy Corp. ("AvenEx") (AVF.TO) is pleased to announce that it has completed its previously announced sale of the assets of Elbow River Marketing Limited Partnership ("Elbow River") to a wholly owned subsidiary of Parkland Fuel Corporation ("Parkland") (PKI.TO) for Cdn.$80 million, subject to final closing adjustments. An electronic copy of this press release may be obtained on AvenEx's SEDAR profile at www.sedar.com. AvenEx was [Read more]

Enbridge, Energy Partners outline plan for shipping more crude to Gulf Coast

  CALGARY - Enbridge Inc. (TSX:ENB.TO) and a partner are planning to convert some of their natural gas capacity to ship crude oil from a pipeline hub in Illinois to refineries in the eastern Gulf Coast refinery market. The Calgary-based pipeline company and Energy Transfer Partners would each own 50 per cent of the joint venture, which they expect to be in service by 2015. The plan requires U.S. regulatory approvals and Enbridge says its participation will depend on getting a [Read more]

Keyera posts $56.7 million profit in fourth quarter, reversing year-earlier loss

  CALGARY - Midstream natural gas company Keyera Corp. (TSX:KEY.TO - News) posted a $56.7 million profit during the last three months of 2012, turning around a year-earlier loss. The net income amounted to 73 cents per share, compared to a loss of $21.2 million, or 30 cents per share, during the fourth quarter of 2011, Calgary-based Keyera said Thursday. Distributable cash flow was $74.4 million, or 96 cents per share, up from $51.2 million, or 72 cents per share. Capital [Read more]

Cenovus says oilsands expansions likely to go ahead, despite differentials

  By Lauren Krugel CALGARY - Cenovus Energy Inc. can "power through" its new oilsands projects even though the company, like most Alberta crude producers, is getting a steep discount for its oil. CEO Brian Ferguson said Thursday that operating costs at its oilsands operations are low enough that it can turn a good profit even if the differential - the price gap between heavy Alberta crude and the U.S. benchmark - persists. "That gives us the ability to actually power through [Read more]

Gas storage drops 157 Bcf; Natural gas prices get slammed

February 1: 2,684 Bcf February 8: 2,527 Bcf Change: -157 Bcf [table] [attr style="width: 25%"]`[attr style="width: 25%"]February 8`[attr style="width: 25%"]February 1`[attr style="width: 25%"]Change East`1,187`1,303`-116 West`380`388`-8 Producing`960`993`-33 Total`2,527`2,684`-157 [/table] Source: EIA Source: CME Group [Read more]

Encana Finishes 2012 Ahead of Guidance and With $3.2 Billion Cash on Balance Sheet

CALGARY, ALBERTA--(Marketwire - Feb 14, 2013) - Encana Corporation (ECA.TO) (ECA) finished the year ahead of 2012 guidance as the company reported annual cash flow of $3.5 billion, or $4.80 per share, and $997 million in operating earnings, or $1.35 per share. In the fourth quarter of 2012 the company generated cash flow of $809 million, or $1.10 per share, and operating earnings of $296 million, or $0.40 per share. In addition, Encana ended the year with $3.2 billion in cash and cash [Read more]

Cenovus total proved reserves up 12% to 2.2 billion BOE

Oil sands production increases 35% in 2012 Proved bitumen reserves at the end of 2012 were more than 1.7 billion barrels (bbls), up 18% from 2011. Economic bitumen best estimate contingent resources at year end were 9.6 billion bbls, a 17% increase over 2011. Combined oil sands production at Foster Creek and Christina Lake averaged nearly 90,000 barrels per day (bbls/d) net in 2012, up 35% from 2011. Average production at Christina Lake nearly tripled in 2012 to almost 32,000 bbls/d [Read more]