CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Exall Energy Corporation ("Exall" or the "Company") (TSX:EE)(TSX:EE.DB) is pleased to announce that on February 8th, 2015, Exall signed a non-binding letter of intent (the "LOI") with Viking Investments Group, Inc. ("Viking") (OTCQB:VKIN), pursuant to which Viking expressed interest in loaning Exall up to CDN$35M to enable Exall to repay its indebtedness to the Alberta Treasury Branches, Exall's primary lender. The LOI contemplates the [Read more]
News
OPEC lowers forecast for Canadian crude production in latest report
CALGARY - The Organization of Oil Exporting Countries is expecting production to grow more slowly than previously expected from countries outside the cartel, including Canada.In its monthly oil market report, the group says non-OPEC supply is expected to grow by 850,000 barrels per day in 2015, but that's 420,000 barrels per day lower than it forecast in its previous report.In Canada, oil output is expected to average 4.35 million barrels a day, which is 20,000 barrels lower than OPEC's earlier [Read more]
Ottawa, industry celebrate as oilsands victory in EU made official
CALGARY - Oilsands crude can now be sent to Europe without a "dirty oil" label, but that doesn't necessarily mean a parade of bitumen-filled tankers will be crossing the Atlantic any time soon.In December, oilsands exporters won a narrow victory in the European Parliament over its fuel quality directive. On Friday, it became official.The original version of the directive singled out oilsands crude as more carbon intensive, but the revised one voted on in December didn't include that stigma. As [Read more]
The NEB imposes additional obligations for Enbridge's Line 9, approves two conditions
CALGARY, Feb 6, 2015 /CNW/ - The National Energy Board (NEB) has approved two of Enbridge's condition filings with regard to the Line 9B Reversal and Line 9 Capacity Expansion Project (Line 9) while imposing additional obligations for the lifecycle of the project. Enbridge's previous submissions on conditions 16 (valve placement) and 18 (watercourse crossing management plans) were insufficient. Based on additional information provided by Enbridge, the NEB has found that the company has [Read more]
Bellatrix to present at the upcoming 2015 NBF Energy Conference and announces updated commodity risk management contracts
CALGARY, Feb. 6, 2015 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that Ray Smith, President & CEO, and Steve Toth, VP Investor Relations will be attending the 2015 NBF Energy Growth Income Conference on Wednesday, February 11, 2015 in Toronto, Ontario. Bellatrix recently added to its 2015 risk management program with the addition of 50 MMcf/d of natural gas fixed price swaps for the period of March 1 through December 31, 2015 [Read more]
Questerre Implements Corporate Restructuring Plan
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]
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]