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Oil price slips to near $95 a barrel in Europe in muted trading due to US public holiday

  The price of crude oil slipped closer to $95 a barrel on Monday, with energy investors keeping to the sidelines as U.S. markets were closed for Martin Luther King, Jr. Day. By early afternoon in Europe, benchmark oil for February delivery was down 24 cents to $95.25 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 7 cents to finish at $95.56 per barrel on the Nymex on Friday. "Due to the lack of major economic indicators, investors will be [Read more]

Rig Count Continues to Rise into Drilling Season

[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`458`143 Last Week`388`143 Last Year`470`184 Week over Week Change`+70`+ Year over Year Change`-12`-41[/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]

Surge Announces its 2013 Capital Budget and Guidance and Provides an Operations Update

Surge Energy Inc. is pleased to announce its 2013 capital budget and guidance and provide an operations update. 2013 BUDGET, GUIDANCE AND CORPORATE GOALS: Surge's board of directors has approved a capital budget of $140 million for 2013 with a balanced approach of production growth (approximately 16 percent growth in average daily production per share) and unlocking additional value in its high quality, large DPIIP1 light oil assets.  Surge has allocated approximately $124 million to its [Read more]

PetroBakken Announces Share Position in Junior Oil Producer

PetroBakken Energy Ltd. announces that we have acquired 4,786,700 common shares of TriOil Resources Ltd. ("TriOil") at an average price of $2.87 per share. These shares, which represent approximately 7.5% of the issued and outstanding shares of TriOil, were acquired through the facilities of the CNSX Pure Trading exchange. As a result of this acquisition, PetroBakken now owns 11,050,330 common shares of TriOil, representing approximately 17.3% of the total issued and outstanding common shares of [Read more]

Oil above US$95 on strong US housing, jobs data; concern over attack in Algeria

  The price of oil rose to a four-month high Thursday on positive reports about the U.S. economy. Benchmark West Texas Intermediate crude gained $1.25 to finish at US$95.49 a barrel, the highest close for crude on the New York Mercantile Exchange since Sept. 17. Oil has now gained four per cent this year. Strong reports on housing starts and fewer unemployment claims made traders more optimistic about the U.S. economy. Builders started work on homes in December at the fastest [Read more]

Arsenal Announces Increased Credit Facilities

Arsenal Energy Inc.  is pleased to announce that as a result of reserve additions and production increases from its 2012 drilling activity, Arsenal''s banking syndicate has increased its credit facility from $75 to $85 million effective immediately. The Company''s next review date is scheduled for May 31, 2013. To receive Company news releases via e-mail, please advise info@arsenalenergy.com and specify "Arsenal Press Releases" in the subject line. Reader Advisory Certain statements and [Read more]

Petroleum Product Inventory Update to January 11

[table] [attr style="width: 24%"]Product`[attr style="width: 24%"]January 11`[attr style="width: 24%"]January 4`[attr style="width: 14%"]Change`[attr style="width: 14%"]% Change Crude Oil`360,302`361,253`-951`-0.3% Gasoline`234,995`233,085`+1,910`+0.8% Distillate`132,430`130,744`+1,686`+1.3% Propane`63,956`65,572`-1,616`-2.5% Jet Fuel`40,439`39,630`+809`+2.0% Unfinished Oils`82,002`81,846`+156`+0.2% Residual Fuel Oil`36,204`35,566`+638`+1.8% [attr style="font-weight:bold"]Total`[attr [Read more]

Palliser Announces Bought Deal Financing

Palliser Oil & Gas Corporation, is pleased to announce that it has entered into an agreement with Octagon Capital Corporation, on behalf of a syndicate of underwriters (the "Underwriters"), to issue 5,000,000 common shares (the "Common Shares") of the Company at a price of $0.63 per Common Share for gross proceeds of $3,150,000 on a bought deal short form prospectus offering basis (the "Offering") in the Provinces of British Columbia, Alberta and Ontario. The Common Shares may also be [Read more]

Oil drops amid worry over debt limit talks, falling gasoline demand

  Oil fell the most in three weeks Tuesday as traders worried about another heated fiscal debate in Washington and slowing demand for gasoline in the United States. Benchmark West Texas Intermediate crude dropped 86 cents to finish at US$93.28 a barrel in New York. That's the largest decline since Dec. 21. Brent crude, used to price international varieties of oil, dropped $1.58 to end at US$110.30 a barrel on the ICE Futures exchange in London. President Barack Obama and [Read more]

Renegade Announces Operational Update, Provides 2013 Guidance and Confirms January Dividend

Renegade Petroleum Ltd. is pleased to announce that due to its successful 2012 drilling program and recent acquisition in southeast Saskatchewan, the Company achieved record exit production of approximately 8,000 boe/d. Continued success within the Company's core areas of southeast Saskatchewan and west central Saskatchewan provide Renegade with a variety of low-risk, repeatable drilling inventory locations which will play a vital role in the execution of its 2013 development program. In [Read more]