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Crocotta Energy Provides 2013 Guidance and Operational Update

Crocotta Energy Inc. ("Crocotta" or the "Company") (CTA.TO) is pleased to announce 2013 Guidance and Operations Update. Crocotta has grown organically from 2,200 boepd at the start of 2010 to over 8,500 boepd solely by drilling its current Bluesky and Cardium projects at Edson and its Montney project at Dawson. Average capital efficiency for the projects (on-stream cost divided by year #1 average production) has been less than $15,000 per boepd with finding and development costs on a [Read more]

MEG Energy reports record quarterly, annual and exit-rate production volumes

Production and marketing strategies to reach major milestones in 2013 CALGARY, ALBERTA (January 31, 2013) – MEG Energy Corp. today reported fourth quarter and full-year 2012 operational and financial results. Highlights include: Record annual and exit production volumes, exceeding 2012 guidance; Record quarterly production and low operating costs contribute to very strong fourth quarter netbacks; Agreements in place to enable substantial volumes to be transported by rail and barge to [Read more]

Celtic Provides Update on Investment Canada Review With Respect to Proposed Acquisition by ExxonMobil Canada Ltd.

Celtic Exploration Ltd. ("Celtic") has been advised by ExxonMobil Canada Ltd. ("ExxonMobil Canada") of the status of the review by the Minister of Industry (the "Minister") under the Investment Canada Act (the "ICA") of the proposed arrangement whereunder Celtic is to be acquired by a subsidiary of ExxonMobil Canada (the "Arrangement"). The review period under the ICA has been extended until February 20, 2013 to allow time for the Minister to complete his review of the acquisition. It is [Read more]

Whitecap Resources Inc. announces 127% increase to 2012 year-end reserves and provides operational update

Whitecap Resources Inc. ("Whitecap" or the "Company") is pleased to announce the results from its 2012 year-end oil and gas reserves evaluation and provide shareholders with an operational update. 2012 YEAR-END RESERVES Whitecap's year-end 2012 reserves were evaluated by independent reserves evaluator McDaniel & Associates Consultants Ltd. ("McDaniels"). The evaluation of all of Whitecap's oil and gas properties was done in accordance with the definitions, standards and procedures [Read more]

Traverse Energy Ltd. Announces 2013 Capital Budget & Program

Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) is pleased to announce that the Board of Directors has approved an exploration and development program of $12.6 million for 2013. The Corporation plans an active drilling program for 2013 with 10 wells planned on existing properties. Drilling and related production expenditures comprise 75% of the budget. The budget is to be financed by existing working capital, cash flow and new equity issues or debt where appropriate. The 2013 [Read more]

New Brunswick Premier: SEND THE PIPELINES EAST!

  FREDERICTON - New Brunswick Premier David Alward heads to Alberta on Sunday for three days of meetings that he hopes will advance a proposal for a west-east oil pipeline. Alward has meetings scheduled with Alberta Premier Alison Redford as well as officials in the oil and pipeline industries. He says a pipeline that could deliver western crude to the Irving refinery in Saint John, N.B., would be good for the entire country, and a boost to his province's faltering [Read more]

US crude oil supplies grew last week, gasoline inventories fell

  NEW YORK - The United States' crude oil supplies rose last week, the government said Wednesday. Crude supplies grew by 5.9 million barrels, or 1.6 per cent, to 369.1 million barrels, which is 8.9 per cent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report. Analysts expected an increase of 2.5 million barrels for the week ended Jan. 25, according to Platts, the energy information arm of McGraw-Hill Cos. Gasoline supplies [Read more]

Renegade Petroleum Ltd. Announces Adoption of Long Term Incentive Plan and Grant of Incentive Awards

Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) announces that it has adopted a Restricted and Performance Award Incentive Plan (the "Plan"). The Company adopted the Plan following a review by the board of directors of the Company (the "Board") and the corporate governance, compensation and nominating committee of the Board (the "Compensation Committee"), with the assistance and guidance of its financial advisors and a third party compensation consultant, of the [Read more]

Donnycreek Announces Participation in New Acreage & Well; Provides Operations Update

Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it will be participating in the drilling of a new non-operated Montney well, immediately adjacent to Donnycreek's original 16.75 section 50% working interest Kakwa land block. The operator of the well has advised that spud is expected mid-February 2013. Donnycreek will participate as to a 23.75% working interest (subject to a 5% GORR) and after drilling this new exploratory well, Donnycreek will earn a similar [Read more]

Nenshi on Keystone PR: The ball has been dropped

  Calgary's mayor says both government and the oil industry have dropped the ball when it comes to promoting TransCanada Corp.'s proposed Keystone XL pipeline. Naheed Nenshi recently returned from a world economic forum in Switzerland. He says discussions about the project made it clear to him that Canada has not done a good enough job of winning over global leaders. Nenshi says he has become an advocate of the pipeline because Calgary-based TransCanada's (TSX:TRP) project is [Read more]