CALGARY, Oct. 28, 2014 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") is providing a sustainability outlook based on lower crude oil prices, and an operations update for the third quarter of 2014. The Company has experienced better than expected drilling, optimization and waterflood results across Surge's high quality, long life, light oil asset base, including continued successful step-out drilling results in the Upper Shaunavon formation in SW Saskatchewan, the Midale play in SE [Read more]
Perpetual Energy Inc. announces sale of non-core heavy oil properties and provides East Edson joint venture and West Edson operational updates
CALGARY, Oct. 27, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce the signing of a definitive purchase and sale agreement to divest of several non-core heavy oil properties in eastern Alberta for gross proceeds of $21.6 million, excluding certain closing adjustments and transaction costs. A deposit of $3.24 million has been paid to Perpetual, with the remaining disposition proceeds due at closing which is expected to occur [Read more]
Pembina Pipeline Corporation Announces Closing of Vantage Pipeline Acquisition and Interest in Associated Assets
CALGARY, Oct. 24, 2014 /CNW/ - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) is pleased to announce that the Company has completed its previously announced acquisition (the "Transaction") of the Vantage pipeline system ("Vantage") and Mistral Midstream Inc.'s ("Mistral") interest in the Saskatchewan Ethane Extraction Plant ("SEEP") from certain entities affiliated with Riverstone Holdings LLC (the "Seller"). "I am very pleased to add these strategic assets to [Read more]
National Energy Board Rules on Trans Mountain Motion
CALGARY, Oct. 23, 2014 /CNW/ - The National Energy Board (the Board) issued an order today granting Trans Mountain access to Burnaby Mountain to complete technical studies related to the company's proposed pipeline. The order prevents the City of Burnaby from blocking Trans Mountain from carrying out the required surveys and technical studies. The Board also ruled that it has the legal authority to consider constitutional questions relating to its own jurisdiction. In the ruling, the Board [Read more]
Penn West Announces $355 Million Non-Core Asset Disposition
CALGARY, Oct. 23, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX: PWT) (NYSE: PWE) ("Penn West", the "Company", "we", or "our") is pleased to announce that it has signed an agreement to sell non-core assets located in south central Alberta for expected proceeds of approximately $355 million to a private company. The assets are currently producing approximately 7,500 barrels of oil equivalent ("boe") per day (weighted approximately 80 percent toward natural gas and natural gas liquids). The [Read more]
Cenovus oil sands production increases 23%
Company generates nearly $1 billion in cash flow Production at Christina Lake averaged more than 68,000 barrels per day (bbls/d) net in the third quarter, an increase of 30% when compared with the same period a year earlier. Foster Creek production averaged almost 57,000 bbls/d net in the quarter, 15% higher than the same quarter in 2013. Cenovus achieved first production from its Foster Creek phase F expansion in September. Cash flow was almost $1 billion in the third quarter, a 6% [Read more]
FortisBC starts construction of expanded Tilbury LNG Facility
$400-million expansion will significantly increase natural gas liquefaction and storage capacity to support growing demand for B.C. LNG SURREY, B.C., Oct. 21, 2014 /CNW/ - FortisBC – a subsidiary of Fortis Inc. (TSX:FTS) – officially started construction of its $400-million Tilbury LNG Facility expansion project today. The company is adding 1.1 million gigajoules of liquefied natural gas (LNG) to storage and 34,000 gigajoules per day of liquefaction capacity. FortisBC marked the occasion [Read more]
Donnycreek to merge with Contact Exploration Inc.
CALGARY, Oct. 21, 2014 /CNW/ - Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX-V: DCK) reports that it has entered into an arm's length definitive arrangement agreement (the "Arrangement Agreement") with Contact Exploration Inc. ("Contact") whereby Contact and Donnycreek will merge (the "Merger") to form a new, amalgamated corporation to be named "Kicking Horse Energy Inc." ("Kicking Horse"). The Merger will consolidate the companies' interests in the Deep Basin including their [Read more]
Mountainview Energy Ltd. announces commitment for new credit facility
CUT BANK, MT, Oct. 20, 2014 /CNW/ - Mountainview Energy Ltd. ("Mountainview" or the "Company") is pleased to announce that its wholly-owned subsidiary, Mountain Divide, LLC ("Borrower") has entered into a commitment letter (the "Commitment") with Wells Fargo Energy Capital, Inc. (the "Lender") with respect to a new term facility (the "New Facility") and a US$16 million unsecured subordinated convertible promissory note (the "Note") to replace: (a) the current senior secured advancing credit [Read more]
Veresen Announces Appointment of President and CEO of Jordan Cove LNG
CALGARY, Oct. 17, 2014 /CNW/ - Veresen Inc. ("Veresen" or "the Company") (TSX: VSN) is pleased to announce that Elizabeth (Betsy) Spomer has been appointed President and Chief Executive Officer of Jordan Cove LNG LLC and Executive Vice President of Veresen. Ms. Spomer brings over 30 years of experience in the energy industry, having the majority of her career in the liquefied natural gas ("LNG") industry. Betsy has extensive experience in commercial activities and developing new growth [Read more]
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