CALGARY, ALBERTA--(Marketwired - Feb. 5, 2015) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that it has implemented a corporate restructuring plan to reduce its administrative overhead in the current commodity price environment. As part of the restructuring program, the Board has elected to reduce head office personnel by 20% and implement a 10% reduction in salaries for senior management. Fees paid to Board members will also be reduced by [Read more]
News
Bonavista Energy Corporation Reports 14% Production Growth in the Fourth Quarter of 2014 and Annual FD&A Costs of $9.95 per boe
CALGARY, ALBERTA--(Marketwired - Feb. 5, 2015) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce production and reserves for 2014. Bonavista's strategy to concentrate development spending in our core areas has resulted in improved capital and operating efficiencies throughout 2014 leading to low cost reserves additions and record production. 2014 Production: For the year ended December 31, 2014, we invested $535.8 million (unaudited) into the concentration of [Read more]
Connacher Reports Year-End 2014 Reserves
CALGARY, Feb. 5, 2015 /CNW/ - Connacher Oil and Gas Limited (CLL – TSX; "Connacher" or the "Company") announces its year-end reserves as of December 31, 2014, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), independent qualified reserves evaluators. Proved producing reserves decreased by 10 per cent to 20.2 million barrels taking into account additions and bitumen sales of 5.06 million barrels for the year. Estimated proved ("1P") bitumen reserves totaled approximately 219 million [Read more]
Waldron Energy Corporation Provides Update on Disposition Process, Announces Estimated Reserves at December 31, 2014 and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Feb. 5, 2015) - Waldron Energy Corporation (TSX:WDN) ("Waldron" or the "Corporation") provides the following updates on its disposition process, preliminary December 31, 2014 reserves balances and operations. Disposition Process As previously announced on December 2, 2014, the Corporation has engaged Cormark Securities Inc. ("Cormark") as financial advisor in order to pursue the sale of a material portion of the assets of the Corporation, either in one [Read more]
Feds need to work out common energy strategy with provinces, LNG proponent says
OTTAWA - It is long past time the federal government worked out a national energy strategy with the provinces, says the president of a proposed liquefied natural gas export terminal in Nova Scotia.Alfred Sorensen, the president and CEO of Pieridae Energy Ltd., said the country's complicated federal system is the biggest barrier he sees to attracting foreign buyers and investors.Pieridae Energy is proposing to build an LNG export terminal in Goldboro, N.S., and in 2013 signed a 20-year deal to [Read more]
Suncor sees construction costs coming down in the oilsands as activity slows
CALGARY - Costs are coming down and high-quality workers are easier to come by in Alberta's oilsands as actvity slows in response to lower world oil prices, the CEO of Suncor Energy Inc. said Thursday.The Calgary-based oilsands producer is pressing ahead with its $13.5-billion Fort Hills oilsands mine, in partnership with the Canadian arm of France's Total and Vancouver miner Teck Resources.First oil is expected in 2017, eventually ramping up to 180,000 barrels per day.The region is seeing some [Read more]
TORC Oil & Gas Announces Strategic Acquisition and Asset Swap in Southeast Saskatchewan and Increase to 2015 Production Guidance
CALGARY, Feb. 5, 2015 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG) is pleased to announce that it has entered into an agreement to acquire light oil assets which are complementary to TORC's existing conventional assets in southeast Saskatchewan. The strategic acquisition (the "Acquisition") includes over 1,550 boepd (94% light oil and liquids) of high quality, low decline, strong netback, light oil producing assets (the "Acquired Assets"). Total consideration for the [Read more]
MEG Energy reports fourth quarter and full-year 2014 results with record quarterly and annual production volumes
CALGARY, ALBERTA--(Marketwired - Feb. 5, 2015) - MEG Energy Corp. (TSX:MEG) today reported fourth quarter and full-year 2014 operating and financial results. Highlights include: Record quarterly production of 80,349 barrels per day (bpd) and record annual production of 71,186 bpd, more than double 2013 annual volumes; Record-low quarterly non-energy operating costs of $6.42 per barrel and record-low annual non-energy operating costs of $8.02 per barrel; Quarterly cash flow from [Read more]
Suncor Energy reports fourth quarter 2014 results
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2015) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, unless noted otherwise. Certain [Read more]
Prairie Storm Energy Corp. Announces $400 million Equity Financing From Natural Gas Partners
CALGARY, Feb. 4, 2015 /CNW/ - The management team of Hugh Ross, Ketan Panchmatia, Greg Groten, Rob Morrison and Julian Din today announced the formation of Prairie Storm Energy Corp. ("Prairie Storm" or the "Company") and the closing of an equity financing commitment with Natural Gas Partners, through its affiliate, NGP Natural Resources XI, L.P. ("NGP") of up to $400 million. The Company will be led by Hugh Ross as President & CEO, Ketan Panchmatia as VP Finance & CFO, Greg Groten as [Read more]