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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]

RMP Energy Achieves Record Quarterly Production and Provides Operations Update

MP Energy Inc. is pleased to announce record fourth quarter production and provide an operations update on Ante Creek, Waskahigan, Grizzly and South Ante Creek. Operations Update: Corporate Production As a result of RMP''s successful exploration and development drilling program, the Company delivered record quarterly production for the fourth quarter 2012 of approximately 6,500 boe/d, weighted 47% light oil and 3% NGLs. RMP''s annual average daily production for fiscal 2012 is estimated at [Read more]

Novus meets 2012 exit rate production target and announces a successful extension to its Greater Dodsland Viking oil play

Novus Energy Inc. is pleased to report it has met its corporate exit rate production target of 4,200 boe/d for 2012. Estimated field level production for the last week of December averaged 4,234 boe/d with approximately 78% of these volumes comprised of oil and liquids. Based on field estimates, average production during December was 3,925 boe/d and fourth quarter 2012 volumes averaged 3,530 boe/d. During the fourth quarter of 2012, Novus drilled 24 wells (24 net), all of which were Viking [Read more]

Invicta Announces Record Field Production and Increase in Credit Facility to $18 Million

Invicta Energy Corp.is pleased to announce the successful completion of its fourth quarter drilling program of 7.0 gross (3.9 net) wells at Kindersley, Saskatchewan.  In aggregate the Company drilled 22 gross (12.1 net) wells on its Viking light oil play at Kindersley, Saskatchewan in 2012. The Company forecasted an exit production rate of 535 bopd and achieved an average field production rate of 535 bopd for the month of December. For approximately half the production days in the month of [Read more]

Arcan Provides Operations Update, 2013 Budget, and Executes $10.0 Million Non-Core Asset Sale

Arcan Resources Ltd. has approved a $26.0 million capital expenditure budget for the first half of 2013 and estimates its full year 2013 budget at $52.0 million. The 2013 budget includes drilling an estimated 13 gross (9.4 net) wells. Arcan also completed a disposition of one and three-quarters sections of undeveloped land in 64-09W5 for proceeds of $10.0 million. The land sold was located in the southern-most area of Arcan''s Swan Hills acreage, did not have any associated production, and was [Read more]

Palliser Announces Record Production and Credit Facility Increase

Palliser Oil & Gas Corporation is pleased to provide an operations update. The Company's December 2012 production, based on field estimates, averaged approximately 2,700 boe/d, weighted 98% to heavy oil and 2% to natural gas, in line with its exit production guidance range of 2,600 - 2,800 boe/d. Fourth quarter 2012 production averaged approximately 2,480 boe/d, representing an 11% increase over third quarter 2012 average production, and a 50% increase over fourth quarter 2011 average [Read more]