WASHINGTON - U.S. President Barack Obama has some less-than-laudatory words for Canada's oil industry in a new example of his increasingly critical take on the oilsands.He was asked about the Keystone XL pipeline during a town-hall session Friday — and he launched into an explanation of why so many environmentalists oppose it."The way that you get oil out in Canada is an extraordinarily dirty way of extracting oil," Obama said during the event at a South Carolina college. "Obviously," he added, [Read more]
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ExxonMobil, Murphy Oil awarded $17 million in damages from Canadian government
HALIFAX - An international tribunal has ordered the government of Canada to pay more than $17 million in damages to two oil companies following a breach of North American Free Trade Agreement regulations.A spokeswoman for Natural Resources Canada says in an email the Feb. 20 decision awarded $13.9 million plus interest to ExxonMobil and $3.4 million plus interest to Murphy Oil.Michelle Aron says Ottawa is reviewing the decision and considering its options in consultation with the government of [Read more]
Crude-by-rail exports dip in fourth quarter: National Energy Board
CALGARY - Canada's crude-by-rail exports dropped in the final three months of last year as oil prices shrivelled, according to new data from the National Energy Board. During the fourth quarter, about 173,000 barrels of oil moved south of the border on trains every day, around five per cent less than the third quarter, when the figure was about 182,000 barrels a day.But that's still 16 per cent higher than the 149,000 barrels a day that moved during the last three months of 2013.Crude prices [Read more]
Lightstream Announces 2014 Funds Flow From Operations of $572 Million
CALGARY, ALBERTA--(Marketwired - March 6, 2015) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces fourth quarter and year-end 2014 financial and operating results. HIGHLIGHTS In this press release, annual comparisons are 2014 compared to 2013 and quarterly comparisons are fourth quarter 2014 compared to fourth quarter 2013, unless otherwise noted. All references to well counts are on a net basis. Our 2014 proved plus probable ("2P") year-end reserve [Read more]
Perpetual Energy Inc. Releases Fourth Quarter and Year-End 2014 Financial and Operating Results
CALGARY, March 5, 2015 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Company" or the "Corporation") is pleased to report its fourth quarter and year end 2014 financial and operating results. Perpetual continues to report year-over-year gains in production, revenue and funds flow, reflecting operational and financial success on our key diversifying strategies in the Greater Edson area for liquids-rich natural gas and at Mannville for heavy oil. A focus on debt reduction in 2014 [Read more]
Legacy Oil + Gas Inc. announces over 31% increase in 2014 year-end reserves and provides operational update
CALGARY, March 5, 2015 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (TSX: LEG) is pleased to announce its 2014 year-end reserves and provide an operational update. The financial and operational information contained below is based on the Company's unaudited expected results for the year ended December 31, 2014 and final audited results may vary. HIGHLIGHTS Three year weighted average total proved plus probable finding and development costs ("F&D") (including changes in [Read more]
Paramount Resources Ltd. Announces 2014 Results: Conventional P+P Reserves Increase 159%; Sales to Surpass 70,000 Boe/d in 2015; $400 Million 2015 Capital Budget
CALGARY, ALBERTA--(Marketwired - March 5, 2015) - Paramount Resources Ltd. (TSX:POU) RESERVES Proved reserves increased 159 percent to 226.8 MMBoe, after production of 9.0 MMBoe and dispositions of 2.4 MMBoe (replacement ratio of 17 times). Conventional proved and probable ("P+P") reserves increased 159 percent to 347.1 MMBoe (replacement ratio of 25 times), a record level for the Company. P+P condensate and Other NGLs reserves increased to 163.7 MMBbl, a 183 percent increase over [Read more]
Cequence Energy announces operational update and 2014 reserves and financial and operating results
CALGARY, March 5, 2015 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its operating and financial results for the periods ended December 31, 2014, an operational update and the results of its year-end independent reserve evaluation. The Company's Audited Consolidated Financial Statements and Management's Discussion and Analysis available at cequence-energy.com and on SEDAR at www.sedar.com. Highlights Highlights for 2014 include: Increased [Read more]
Freehold Royalties Ltd. Announces 2014 Fourth Quarter Results and Year-End Reserves
CALGARY, ALBERTA--(Marketwired - March 5, 2015) - Freehold Royalties Ltd. (Freehold) (TSX:FRU) today announced 2014 fourth quarter results and reserves as at December 31, 2014. Results at a Glance Three Months Ended December 31 Twelve Months Ended December 31 FINANCIAL ($000s, except as noted) 2014 2013 Change 2014 2013 Change Gross revenue 43,631 45,287 -4% 199,850 181,578 10% Net [Read more]
Canbriam Energy Provides Update on its Altares Montney Development and 2014 Reserves Information
CALGARY, March 5, 2015 /CNW/ - Canbriam Energy Inc. ("Canbriam" or the "Company") provides an operational update on the commercial development of its liquids-rich Altares Montney asset, located west of Fort St. John, BC, highlighted by the recent commissioning of phase 1 of its 100 percent owned and operated b-72-A processing facility. Canbriam is pleased to also provide details from its 2014 independent reserves evaluation which reflect strong well results and a second commercial target within [Read more]