CALGARY, Jan. 7, 2015 /CNW/ - Surge Energy Inc. ("Surge" or "the Company") announced today that, until such time as the Company receives tangible clarity with respect to world oil prices, Surge's management and Board are adopting a very conservative capital spending program for the first half of 2015, which is designed to protect both the Company's net asset value ("NAV"), and Surge's balance sheet. This conservative capital expenditure program in the first half of 2015, however, will still [Read more]
Athabasca Oil Corporation Announces Board of Directors Appointments and Executive Promotion
CALGARY, Jan. 7, 2015 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") is pleased to announce the appointment of Carlos Fierro and Paul Haggis to its Board of Directors ("Board"). The Board has also promoted Rob Broen, the Company's current Chief Operating Officer, to the position of President and Chief Operating Officer. Tom Buchanan continues as Athabasca's Chief Executive Officer. Mr. Fierro is a former investment banker and attorney based in Washington, DC. [Read more]
ARC Resources Ltd. Announces Bought Deal Financing and Reduced 2015 Capital Program
CALGARY, Jan. 7, 2015 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") announced today that it has entered into an agreement to sell 15.5 million common shares at $22.55 per share to raise gross proceeds of approximately $350 million on a bought deal basis. The issue will be made through a syndicate of underwriters led by RBC Capital Markets. The net proceeds will be used to temporarily reduce bank indebtedness, increase working capital and to fund ongoing capital expenditure programs. This [Read more]
Rifle Shot Oil Corp. announces initial financing by ARC Financial Corp.
CALGARY, Jan. 7, 2015 /CNW/ - Rifle Shot Oil Corp. ("Rifle Shot" or the "Company") is pleased to announce the closing of its initial financing by ARC Financial Corp. Rifle Shot is a private company focused on acquiring conventional oil reservoirs and applying the latest development technologies to increase production and oil recovery. The Company, headquartered in Calgary, is looking to deploy approximately $100 million of equity. The Rifle Shot team is a highly technical group of [Read more]
Madalena comments on Argentina oil prices and provides a 2015 Capital Budget update
TSXV Trading Symbol: MVNOTC Trading Symbol: MDLNF CALGARY, Jan. 7, 2015 /CNW/ - Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTC: MDLNF) provides the following comments on recent changes to regulated Argentina oil prices and updates its 2015 Capital Budget as outlined below. REGULATED ARGENTINA OIL PRICE MARKET In Argentina, oil prices are set by the government for product sold into the domestic oil market, which is where Madalena sells the oil from its Argentine operations. [Read more]
Another Mid-tolarge Sized Natural Gas Discovery Made on Independent Deepwater Exploration
HONG KONG, Jan. 6, 2015 /CNW/ -- CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883, TSX: CNU) today announces that the Company has successfully made a new mid-to-large sized natural gas discovery Lingshui 25-1 on the independent deepwater exploration. Logo - http://www.prnasia.com/sa/200701301659.jpg The Lingshui 25-1 structure is located in the northeast of Ledong Sag in Qiongdongnan Basin of South China Sea, with an average water depth of about 980 meters. The discovery well Lingshui 25-1-1 [Read more]
Keyera Announces Closing of Ricinus Gas Plant Acquisition
CALGARY, Dec. 31, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced acquisition of a 70.79% ownership interest in the Ricinus deep-cut gas plant (the "Plant") in west central Alberta for a purchase price of $65 million. Upon closing, Keyera became operator of the facility. About Keyera Keyera Corp. (TSX:KEY) operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and [Read more]
Ivanhoe Energy receives an additional US$540,000 short-term loan from Robert Friedland
VANCOUVER, Dec. 30, 2014 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) (TSX: IE.DB) announced today that the company's working capital has been augmented by a further US$540,000 (approximately C$626,000) provided by founder Robert Friedland. The new funds are in addition to the US$2.2 million (approximately C$2.4 million) secured bridge loan provided by Mr. Friedland in October 2014, details of which are contained in Ivanhoe Energy's October 10, 2014 news release, and brings the [Read more]
Imperial appoints senior vice-president, upstream
B.P. Cahir to succeed T.G. Scott effective January 1 T.G. Scott appointed vice-president of XTO Energy Inc. CALGARY, Dec. 29, 2014 /CNW/ - Imperial Oil Limited announced today the appointment of B.P. (Bart) Cahir as senior vice-president, upstream, effective January 1. Mr. Cahir, currently president and general manager for ExxonMobil Qatar Inc., succeeds T.G. (Glenn) Scott, who has been appointed vice-president, advisory and support team and international ventures, for XTO Energy [Read more]
Northern Blizzard Resources Inc. Announces Revised 2015 Capital Program & Guidance; Maintains Dividend
CALGARY, Dec. 22, 2014 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard" or the "Company") (TSX: NBZ) announces a revised capital program for 2015 in response to the significant decline in crude oil prices. The capital program for 2015 has been reduced by 40% from $215 million to $130 million, which maintains the Company's financial strength while supporting estimated 2015 production of 23,000 boe/d and the monthly dividend of $0.08 per share. Revised 2015 capital [Read more]
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