Imperial has acquired a 50-percent participating interest in the Celtic Exploration acquisition by ExxonMobil Canada New operation will benefit from the combined expertise of ExxonMobil, XTO Energy and Imperial Oil in unconventional resource development CALGARY , Feb. 26, 2013 /CNW/ - Imperial Oil has acquired a 50-percent participating interest in Celtic Exploration Ltd. ("Celtic") following the close of its acquisition by ExxonMobil Canada today. This occurred by means of a sale of a [Read more]
Nexen Announces Completion of Acquisition by CNOOC Limited
CALGARY , Feb. 25, 2013 /CNW/ - Nexen Inc. ("Nexen" or the "Company", TSX, NYSE: NXY) announced today that CNOOC Limited has completed its acquisition of the Company. Pursuant to the plan of arrangement (the "Arrangement") holders of Nexen common shares will receive cash proceeds of US $27.50 , without interest, and holders of Nexen preferred shares will receive cash proceeds of CAD $26.00 , plus accrued and unpaid dividends up to, but excluding, the closing date of the Arrangement, without [Read more]
MEG Energy re-prices, increases and extends the maturity of its term loan
CALGARY, Feb. 25, 2013 /CNW/ - MEG Energy Corp. ("MEG") announces that in light of favourable market conditions, it has re-priced and extended the maturity of its existing US$987.5 million term loan. The interest rate of the covenant-light term loan has been reduced by 25 basis points and the maturity has been extended by two years to March 2020. In addition to re-pricing and extending the term loan, MEG has also taken the opportunity to increase the term loan by US$300 million on the same terms [Read more]
Cequence Energy to acquire Montney assets in Simonette and provides update on recent drilling activity
CALGARY, Feb. 25, 2013 /CNW/ - Cequence Energy Ltd. ("Cequence") (TSX:CQE.TO - News) is pleased to announce that it has entered into agreements with Donnybrook Energy Inc. ("Donnybrook") (TSX:DEI.V - News) pursuant to which Cequence has agreed to acquire Donnybrook's interests in its oil and gas properties located in the Simonette and Resthaven areas of Alberta (the "Donnybrook Assets"). As consideration for the assets, Cequence will transfer its interest in its non-operated oil and gas [Read more]
Enerplus Delivers 9% Production Growth and 190% Reserve Replacement in 2012
This news release includes forward-looking statements and information within the meaning of applicable securities laws. Readers are advised to review the "Cautionary Note Regarding Forward-Looking Information and Statements" at the conclusion of this news release. Readers are also referred to "Information Regarding Reserves, Resources and Operational Information", "Notice to U.S. Readers" and "Non-GAAP Measures" at the end of this news release for information regarding the presentation of the [Read more]
Imperial Oil Limited Appoints Chairman and Chief Executive Officer
CALGARY , Feb. 21, 2013 /CNW/ - The board of directors of Imperial Oil Limited is pleased to announce the appointment of R.M. (Rich) Kruger as chairman, president and chief executive officer effective March 1 . Mr. Kruger , currently president of ExxonMobil Production Company, succeeds B.H. (Bruce) March, who has been appointed senior vice president of global operations for ExxonMobil Chemical Company. "We would like to thank Mr. March for his leadership and vision over the past five [Read more]
Bellatrix Exploration Announces Material Reserves Increases (up 54%) Posting $6.95/boe Finding and Development Costs
TSX: BXE CALGARY, Feb. 21, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") announces the results of an independent reserve evaluation effective December 31, 2012. The report was completed by Sproule Associates Limited ("Sproule"). The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Bellatrix benefitted from the largest [Read more]
TriOil Provides Clarification Regarding Shareholder Rights Plan and Strategic Process
CALGARY, Feb. 20, 2013 /CNW/ - (TSXV:TOL.V ) TriOil Resources Ltd. ("TriOil" or the "Corporation"), in reply to shareholder inquires, wishes to clarify that the timing of shareholder approval for the recently adopted shareholder rights plan (the "Rights Plan") does not impact upon the timing of the strategic alternatives process being undertaken by the Corporation. As indicated in the Corporation's February 19, 2013 press release, the independent committee of directors (the "Special [Read more]
TriOil Announces Directors Approval of Shareholder Rights Plan, Appointment of Chairman of the Board and Strategic Process Update
CALGARY , Feb. 19, 2013 /CNW/ - February 19, 2013 - (TOL.V) TriOil Resources Ltd. ("TriOil" or the "Corporation") announces that its Board of Directors (the "Board") has adopted a Shareholder Rights Plan (the "Rights Plan") to be effective February 22, 2013 . The Corporation's previously adopted shareholder rights plan dated August 22, 2012 (the "Previous Plan") expires on February 22, 2013 . As TriOil has initiated a comprehensive strategic alternatives process, the Rights Plan has been [Read more]
Yangarra Provides Operations Update and Announces 2013 Capital Program
CALGARY, Feb. 19, 2013 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX-V:YGR.V) announces that December 2012 field production averaged 2,180 boe/d (50% oil and NGL's). Annual production for 2012 was 1,915 boe/d (40% oil and NGL's) which is a 52% increase in production per common share over 2011. Net capital expenditures in 2012 were scaled back to 60% of the planned $35 million budget due to low natural gas pricing, wet conditions in Central Alberta and infrastructure [Read more]