CALGARY , May 23, 2013 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (SGY.TO) is pleased to announce that it has reached a mutually beneficial settlement agreement, whereby all third party objections to Surge's holding applications at Valhalla have been withdrawn. The negotiated settlement includes compensation by Surge of $4.0 million for gas production over the past 30 months. The agreement includes a commercial arrangement which accounts for and compensates the parties for any future [Read more]
3MV Energy Announces Appointment of Interim CEO
CALGARY, May 22, 2013 /CNW/ - 3MV Energy Corp. ("3MV" or the "Company") (TSXV:TMV.V) announces that Dallas C. Duce, a director of 3MV, has been appointed interim Chief Executive Officer. Dallas C. Duce has been a director of 3MV since November 4, 2010. Mr. Duce is an electrical technologist and owns Duce Developments Ltd. in Estevan, Saskatchewan. He is also the former owner of Duce Oil, which was a private oil and gas exploration and production company based in Estevan, Saskatchewan that was [Read more]
Whitecap Resources Inc. closes previously announced Dodsland Viking light oil acquisition
CALGARY , May 22, 2013 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (WCP.TO) is pleased to announce successful completion of the acquisition of an existing Viking light oil waterflood asset in the Dodsland area of west central Saskatchewan as previously detailed in our April 29, 2013 press release. The acquisition adds 900 boe/d (95 percent light oil) of high netback, operated production with a low base decline of 20 percent. Total consideration for the acquisition was $110 [Read more]
TriOil Resources Ltd. announces record first quarter 2013 results
CALGARY, May 21, 2013 /CNW/ - TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) is pleased to announce that it has filed its financial statements and related Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2013 on SEDAR. Selected financial and operational information is outlined below and should be read in conjunction with TriOil's audited financial statements and related MD&A, available for review [Read more]
Yangarra Announces First Quarter 2013 Financial and Operating Results
CALGARY, May 21, 2013 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSXV:YGR.V) announces its financial and operating results for the three months endedMarch 31, 2013. Highlights of the quarter ended March 31, 2013 are as follows: Production was 1,809 boe/d (47% oil and NGL's) with production negatively impacted by 200 boe/d shut-in due to the drilling of new wells on existing pad sites. Oil and gas sales including royalty income was $7.7 million with funds flow from [Read more]
Teine Energy Ltd. Closes on a USD $300 Million Senior Secured Second Lien Term Loan and Refinances Revolving Credit Facility
CALGARY, May 21, 2013 /CNW/ - Teine Energy Ltd. today announced that it entered into a Senior Secured Second Lien Term Loan providing for USD $300 million of funds with a final maturity date of May 17, 2019. Pricing on the new term loan was set at L+625 with a 1.25% LIBOR floor, offered at 98.5. The proceeds will be used to refinance the Company's existing revolving credit line, to fund an expanded drilling program and for general corporate purposes. The Company concurrently refinanced its [Read more]
Longview Announces Crude Oil Hedging Update for 2014
CALGARY, May 21, 2013 /CNW/ - Longview Oil Corp. ("Longview" or the "Corporation") announces the following crude oil hedges for calendar 2014. Crude Oil Hedging for 2014 Term of Contract Volume Fixed Price Crude oil - [Read more]
Advantage Announces Significant Increase in Reserves & Contingent Resources and Updates Guidance & Strategic Alternatives Process
CALGARY, May 21, 2013 /CNW/ - Highlights: Total Petroleum Initially in Place ("TPIIP") at Glacier increased to 16.0 Tcf 2P Reserves plus 2C Contingent Resources increased to 5.9 Tcfe 2C Contingent Resources increased to 4.20 Tcfe; 72% of which is contained in the liquids rich Middle Montney intervals that are approximately 150 meters thick 2P Reserves grew to 1.61 Tcfe which includes 11 million barrels of NGLs Our Special Committee's financial advisors will immediately [Read more]
ShawCor Names New Chair & Vice Chair And Reports Voting Results from Annual General Meeting
TORONTO, May 17, 2013 /CNW/ - ShawCor Ltd. (TSX:SCL.TO) announced today that its Board of Directors had appointed independent director John F. (Jack) Petch as its new Chair of the Board. Mr. Petch joined the ShawCor Board in 2005 and has previously served as its Lead Director, Chair of the Corporate Governance Committee and Chair of the Special Committee which was constituted in the fall of 2012 in connection with ShawCor's strategic review process. Another independent director, Robert J. [Read more]
Palliser Oil & Gas Corporation Reports First Quarter 2013 Financial and Operating Results
/NOT FOR DISTRIBUTION IN THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / CALGARY , May 16, 2013 /CNW/ - Palliser Oil & Gas Corporation ("Palliser" or the "Company") (TSXV: PXL) is pleased to announce financial and operating results for the three months ended March 31, 2013 . Certain selected financial and operational information is set out below and should be read in conjunction with Palliser's unaudited condensed financial statements complete with the notes [Read more]
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