OMAHA, Neb. - Calgary-based TransCanada Corp. (TSX:TRP) is temporarily suspending efforts to seize Nebraska land for the Keystone Pipeline XL amid a legal challenge.A Holt County District judge issued a temporary injunction Thursday, keeping TransCanada from invoking eminent domain along the proposed Keystone Pipeline route in northern Nebraska.TransCanada agreed to the order, hoping to get an accelerated trial schedule.Landowners have sued over the project.TransCanada filed legal papers in nine [Read more]
News
Cenovus Energy cutting 15 per cent of staff, suspends salary increases
CALGARY - Cenovus Energy Inc. (TSX:CVE) says it expects to cut its staff by about 15 per cent, the bulk of which it says will come from its contract workforce.The company also suspended employee salary increases for this year as it looks to cut its discretionary spending on travel, conferences, offsite meetings and information technology upgrades.Cenovus announced the moves as announced a loss of $472 million or 62 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $58 [Read more]
Husky Energy’s 2015 Update / 2014 Fourth Quarter and Annual Results
CALGARY, AB--(Marketwired - February 12, 2015) - Husky Energy (TSX: HSE) continues to focus on efficiencies, manage its investment flows and maintain its strong balance sheet as it delivers its work program. "We took a realistic approach with our 2015 business plan and continue to identify strategies to further support our balance sheet in today's lower oil price environment," said CEO Asim Ghosh. "We are continuing to position the Company for beyond this downturn as a low sustaining capital [Read more]
Cenovus oil sands production increases 25% in 2014
Proved bitumen reserves up 7% Combined oil sands production averaged more than 128,000 barrels per day (bbls/d) net in 2014, up 25% from 2013. Non-fuel operating costs per barrel at the company's oil sands projects declined 14% compared with the previous year. Total oil production averaged more than 203,000 bbls/d net, up 14% from 2013. Capital investment was $3.1 billion, 6% lower than in 2013. Cash flow was $3.5 billion, a 4% decrease compared with 2013. Rising oil sands production [Read more]
Surge Energy Inc. Announces a 52 Percent Increase in 2014 Year End Reserves, New Net Asset Value of $7.36 Per share; Sale of Non-core Assets for $35.6 Million; Record Weekly Production; New Bank Line Review
CALGARY, Feb. 11, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") delivered excellent results with respect to the Company's 2014 year end reserves. Highlights: Surge's net asset value (NAV)1 per share for December 31, 2014 is $7.36 utilizing the lower crude oil price deck used by Surge's external engineers. Increased Proved plus Probable reserves by 52% to 112.0 million boe as compared to December 31, 2013 reserves of 73.5 million boe. Increased Proved plus Probable reserves [Read more]
Arcan Provides Further Update Regarding Its Convertible Debenture Exchange Transaction
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2015) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") announced today a further update regarding the anticipated closing of the exchange of its $86.25 million 6.25% convertible unsecured subordinated debentures due February 28, 2016 and $85.0 million 6.50% convertible unsecured subordinated debentures due October 31, 2018 (collectively, the "Debentures") into common shares (the "Exchange Shares") at an exchange price of $0.15 per [Read more]
Spyglass Resources Corp. announces revised 2015 capital program and production guidance
All values are in Canadian dollars unless otherwise indicated. Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1. CALGARY, Feb. 11, 2015 /CNW/ - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX: SGL, OTCQX: SGLRF) announces revised 2015 capital program and production guidance. As a result of the sustained decline in commodity prices, Spyglass has revised its 2015 capital budget to $8 million from the previously announced $26 million. This reduced [Read more]
Keyera Announces Two-for-One Share Split
CALGARY, Feb. 11, 2015 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today a two-for-one split of Keyera's outstanding common shares. The record date for the share split will be April 1, 2015. Each Keyera shareholder will receive one additional common share of Keyera for each common share held on the share split record date. The Toronto Stock Exchange has determined that, in connection with the share split, the common shares will be traded in accordance with "due bill" trading [Read more]
Exall Energy Corporation Announces Revised Process to Pay Out Existing Credit Facility
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2015) - Exall Energy Corporation ("Exall" or the "Company") (TSX:EE)(TSX:EE.DB) announced today that, further to its February 9, 2015 announcement, Viking Investments Group, Inc. (the "Lender") has provided Exall with a non-binding letter of intent (the "LOI") pursuant to which, as a preliminary step (the "Interim Financing"), it would loan $35.0 million to Exall in order to allow Exall to retire its existing facility with Exall's current senior Canadian [Read more]
ARC Resources Ltd. reports record fourth quarter production and strong financial results
CALGARY, Feb. 11, 2015 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its fourth quarter 2014 operating and financial results. Fourth quarter production averaged a record 117,986 boe per day and funds from operations were $251.7 million ($0.79 per share). ARC's Audited Consolidated Financial Statements and Notes, as well as ARC's Management's Discussi|on and Analysis ("MD&A") for years ended December 31, 2014 and 2013, are available on ARC's website at [Read more]