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DeeThree Exploration Announces $30 Million Bought Deal

DeeThree Exploration Ltd. (the "Company" or "DeeThree"), is pleased to announce that it has entered into an agreement, on a bought deal basis, with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. (book runner), Raymond James Ltd., and Cormark Securities Inc., and including Dundee Securities Ltd., Stifel Nicolaus Canada Inc., and Casimir Capital Ltd. (collectively, the "Underwriters"), to purchase 4,420,000 common shares of the Company (the "Common Shares") at a price [Read more]

Raging River Exploration Inc. Announces 215% Increase in 2012 Year End Reserves and an Operational Update

Raging River Exploration Inc. ("Raging River" or the "Company") (TSX VENTURE:RRX) is pleased to announce its 2012 year-end oil and gas reserves evaluation. The material increase in reserves reflects exceptional organic reserves growth in addition to several accretive acquisitions completed throughout 2012. Reserve Report Highlights: Increased proven plus probable reserves by 215% to 17.2 mmboe (95% oil) and proven reserves by 201% to 11.5 mmboe (95% oil). Proven reserves represent 67% of [Read more]

Oil edges higher to US$96.44 amid strong durable goods news, weaker housing data

  NEW YORK - The price of oil rose Monday after a strong durable goods report from the U.S. Commerce Department. Demand for long-lasting manufactured goods rose sharply in December with gains in volatile aircraft orders, the Commerce Department said. But the number of pending home sales fell last month after hitting a 2 1/2 year high in November. Benchmark West Texas Intermediate crude rose 56 cents to finish at US$96.44 a barrel on the New York Mercantile Exchange. Meanwhile, [Read more]

Canadian government moves to defend oilsands pipelines again…this time on US East Coast

  The Canadian government has moved to defend the oil industry from yet another public-relations fire related to pipelines - this time on the U.S. East Coast. Canada's envoy to New England penned an editorial today in a Maine newspaper, two days after more than 1,000 protesters in the state expressed concern Alberta oil could soon flow across the region. Consul General Pat Binns says in his op-ed that the environmental record of oilsands production has improved in recent [Read more]

Nexen Announces 30-day Extension of the Arrangement Agreement Outside Date

Nexen Inc. ("Nexen") announced today that CNOOC Limited and Nexen Inc. have mutually agreed to extend the "Outside Date" of the Arrangement Agreement by 30 days to March 2, 2013. The Outside Date was originally January 31, 2013. Either party may, except in certain circumstances, extend the Outside Date from time to time if the required regulatory approvals have not been obtained, provided that in aggregate such extensions shall not exceed 75 business days from January 31, 2013. In [Read more]

Weekly petroleum stocks flat / mixed

[table] [attr style="width: 24%"]Product`[attr style="width: 24%"]January 18`[attr style="width: 24%"]January 11`[attr style="width: 14%"]Change`[attr style="width: 14%"]% Change Crude Oil`363,115`360,302`+2,813`+0.8% Gasoline`233,257`234,995`-1,738`-0.7% Distillate`132,938`132,430`+508`+0.4% Propane`60,883`63,956`-3,073`-4.8% Jet Fuel`39,802`40,439`-637`-1.6% Unfinished Oils`84,053`82,002`+2,051`+2.5% Residual Fuel Oil`34,908`36,204`-1,296`-3.6% [attr [Read more]

Canada rig count sees slight increase in active oil rigs

[table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`474`147 Last Week`458`143 Last Year`492`190 Week over Week Change`+16`+4 Year over Year Change`-18`-43[/table] [table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" [Read more]