CALGARY, Jan. 20, 2015 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQL") is pleased to announce record production which currently exceeds 5,600 boe/d. The company expects an additional 250 boe/d to come on after completing a pump re-configuration on two of its recently drilled wells at Michichi. Given Marquee's continued drilling success, the Company estimates fourth quarter production of approximately 5,250 boe/d and 2014 average production of 4,860 boe/d based on field [Read more]
News
NuVista Energy Ltd. Announces Revised 2015 Capital Guidance and Non-Core Asset Divestitures
CALGARY, ALBERTA--(Marketwired - Jan. 19, 2015) - NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce that through the fourth quarter of 2014 we have continued to deliver strong production and well results, have sold non-core assets to further strengthen our balance sheet, and are revising our 2015 capital spending plan to maintain financial strength during the current commodity price weakness. Field operations have been strong and steady through the fourth quarter of 2014, with [Read more]
Chinook Energy Inc. Announces $75 Million of Positive Working Capital, Reduced 2015 Capital Program, Production and Guidance Update, and Montney Operational Update
CALGARY, ALBERTA--(Marketwired - Jan. 19, 2015) - Chinook Energy Inc. (TSX:CKE) ("Chinook") today announced that it has positive working capital of approximately $75 million and is undrawn on its $125 million credit facility following the recent dispositions of its Karr and Gilby properties. Chinook also announced a decrease in its 2015 capital program as a result of significantly weaker commodity prices since announcing its original program on October 29, 2014. Chinook's original program [Read more]
Zargon Oil & Gas Ltd. Announces Fourth Quarter 2014 Production Volumes, Provides an ASP Project Update and Reaffirms Production Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 19, 2015) - Zargon Oil & Gas Ltd. (TSX:ZAR) (TSX:ZAR.DB) ("Zargon" or the "Company") announces fourth quarter 2014 production volumes, provides a Little Bow Alkaline Surfactant Polymer ("ASP") project update and reaffirms 2015 production guidance. Fourth Quarter 2014 Production Volumes Zargon's fourth quarter 2014 oil and liquid production volumes averaged 4,150 barrels per day and slightly exceeded guidance levels of 4,100 barrels per day. [Read more]
Beyond Fort McMurray, oilpatch country feeling the pinch from low crude
CALGARY - If low oil prices stick around much longer, the operations manager at Lac La Biche Transport Ltd. says he may have to lay off workers.Kevin Warawa says business is down by about a quarter compared with the same time a year ago and oilsands operators that hire his company to haul equipment in northeastern Alberta are pushing for rates to be cut by 20 to 25 per cent."Some of them cancelled projects completely. Some of the other customers said that they won't be getting back to production [Read more]
Pine Cliff Energy Ltd. Provides Operational and Management Update and Provides 2015 Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 19, 2015) - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX VENTURE:PNE) is pleased to provide an operations and management update and announce its 2015 guidance. Operations Update Pine Cliff exited 2014 with production of approximately 12,000 barrels of oil equivalent ("Boe") per day, which was also the average production for the fourth quarter, based on field estimates. During the fourth quarter of 2014, Pine Cliff closed the previously [Read more]
Coral Hill Provides Update on Aspenleaf Arrangement
CALGARY, ALBERTA--(Marketwired - Jan. 19, 2015) - Coral Hill Energy Ltd. ("Coral Hill") announces that Aspenleaf Energy Limited ("Aspenleaf") has provided written notice to Coral Hill asserting that Aspenleaf believes Coral Hill will be unable to satisfy a certain condition to closing of the arrangement (the "Arrangement") between Coral Hill and Aspenleaf and that Coral Hill is in default of a certain covenant under the arrangement agreement between Coral Hill and Aspenleaf. Coral Hill has [Read more]
Lightstream Announces 2014 Production Results and Suspension of Dividend
CALGARY, ALBERTA--(Marketwired - Jan. 19, 2015) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces year-end 2014 production results with exit rates exceeding guidance. In light of further declines in world oil prices and to preserve financial flexibility, we are immediately suspending our monthly dividend. Capital Plan and Dividend As previously outlined in our December 2014 press release, our strategy for 2015 is to adopt a conservative capital and dividend [Read more]
Sunshine Oilsands Ltd. Announces the Appointment of a Vice president, Facilities Engineering
CALGARY, Alberta and HONG KONG, Jan. 18, 2015 /CNW/ -- The Board of Directors of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) is pleased to announce the appointment of Bob Gerwing as Vice President, Facilities Engineering, effective immediately. Mr. Gerwing brings significant additional seasoned project management execution and management experience to Sunshine. He will be responsible for managing Sunshine's facilities engineering teams in execution of all [Read more]
What could Canada do to mute U.S. opposition to Keystone? Nothing, opponents say
WASHINGTON - The American environmental organizations fighting the Keystone XL pipeline say there's no climate-change plan Canada could possibly adopt that would make them back down.Multiple groups contacted this week dismissed an idea often heard in Canada — that a more ambitious climate policy by the federal government might have influenced the Keystone outcome.They said there's no carbon tax too high, cap-and-trade ceiling too low, or climate plan too punishing on greenhouse-gas emissions [Read more]