CALGARY, ALBERTA--(Marketwired - March 6, 2014) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to announce that it has agreed with the underwriters for its bought-deal financing announced today to increase the size of the bought deal financing to 14,000,000 common shares from 12,500,000 common shares at a price of $4.00 per common share for gross proceeds of $56,000,000. The syndicate of underwriters is co-led by FirstEnergy Capital Corp. and Peters & Co. Limited and [Read more]
News
CNRL: ‘Good business sense” to curb heavy oil output while prices are low
CALGARY - Canadian Natural Resources Ltd. says it will slow down its heavy oil output whenever the price gap between that type of crude and its lighter counterpart widens substantially. President Steve Laut said Thursday it's a new strategy to work around the volatile light-heavy differential, which has caused headaches for industry and the provincial government alike. In December — when the differential was at 40 per cent — Canadian Natural (TSX:CNQ) cut heavy oil production by just over [Read more]
U.S. Department of Transport further tightens testing rules for oil trains
BILLINGS, Mont. - The U.S. government is further tightening testing requirements for companies that transport oil by rail after a spate of explosions caused by crude train derailments in the U.S. and Canada.Thursday's action from the U.S. Department of Transportation builds on a Feb. 25 order that targeted oil shipments for more stringent testing.Testing has long been required to gauge the volatility of oil and other hazardous liquids. But there were no standards on how frequently that had to be [Read more]
FirstEnergy Capital Corp. announces the appointment of John Chambers as Chief Executive Officer
CALGARY, March 6, 2014 /CNW/ - FirstEnergy Capital Corp. of Calgary is pleased to announce the appointment of John Chambers to Chief Executive Officer. FirstEnergy's current Chairman and C.E.O., Jim W. Davidson, will assume the title of Executive Chairman of FirstEnergy Capital. The strong business fundamentals and principles that FirstEnergy was built upon will remain in place. Mr. Davidson will remain actively engaged in all aspects of the business and will focus his efforts on continued [Read more]
Nordic Completes Noel, BC Acquisition
WINNIPEG, MANITOBA--(Marketwired - March 6, 2014) - Donald Benson, President and CEO of Nordic Oil and Gas Ltd. ("Nordic") (TSX VENTURE:NOG), is pleased to announce the Company has acquired an average of 80% interest in 1,179 hectares of land from Quattro Exploration and Production Ltd. in the Noel, B.C. area. The acquisition price of $300,000.00 was paid by issuance of 4,000,000 shares of Nordic Oil and Gas Ltd. to be issued from treasury at a deemed value of $0.05 per share, 1,000,000 [Read more]
Gear Energy Ltd. Announces $50 Million Bought Deal Equity Financing
CALGARY, ALBERTA--(Marketwired - March 6, 2014) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by FirstEnergy Capital Corp. and Peters & Co. Limited and including RBC Capital Markets Inc., GMP Securities L.P., Haywood Securities Inc. and AltaCorp. Capital Inc. (together, the "Underwriters") under which they have agreed to purchase for resale to the public, on a bought deal basis, [Read more]
Canadian Natural Resources hiking dividend for second time in a year, profit up
CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ) will be raising its dividend for the second time in three months, following a year in which net income grew 20 per cent and adjusted profit jumped by 50 per cent. CNRL president Steve Laut said "2013 was a solid year for Canadian Natural as we achieved significant progress in our transition to longer life, low decline assets." The Calgary-based company's quarterly dividend will rise to 22.5 cents per common share payable April [Read more]
TORC Oil & Gas Ltd. Announces 2013 Fourth Quarter and Year-End Financial & Operating Results and Year-End Reserves; Announces Increase to Guidance
CALGARY, March 6, 2014 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce its financial and operating results for the three month periods and years ending December 31, 2013 and 2012, and to provide its 2013 year-end reserves information as evaluated by Sproule Associates Limited ("Sproule"). The associated Management's Discussion and Analysis ("MD&A") dated March 5, 2014 and audited financial statements as at and for the year ended December 31, 2013 [Read more]
Canadian Natural Resources Limited Announces 2013 Fourth Quarter and Year End Results
CALGARY, ALBERTA--(Marketwired - March 6, 2014) - Commenting on fourth quarter and year end results, Steve Laut, President of Canadian Natural (TSX:CNQ)(NYSE:CNQ) stated, "2013 was a solid year for Canadian Natural as we achieved significant progress in our transition to longer life, low decline assets. We achieved record cash flow of approximately $7.5 billion in 2013 and we grew our total liquids production by 6% to approximately 478,000 barrels per day, with total production of 671,162 [Read more]
National Energy Board to rule today on Line 9 reversal
TORONTO - The National Energy Board is set to release a decision today on whether it will allow energy delivery giant Enbridge to reverse the flow and increase the capacity of a pipeline that's been pumping oil between southern Ontario and Montreal for years. The decision on the controversial Line 9 is being delivered some four months after the federal regulator held public hearings on the Calgary-based company's (TSX:ENB) proposal. During those sessions, a three-member panel heard from a [Read more]