SAINT JOHN, N.B. - New Brunswick's Irving Oil says it will spend $60 million over the next six weeks as 1,700 extra workers are brought in to perform scheduled maintenance at Canada's largest oil refinery in Saint John. The company says the work will continue 24 hours a day, seven days a week, until the project is completed. Known in the refining industry as a "turnaround," the project is aimed at improving safety, reliability and environmental performance. In total, about 2,000 people [Read more]
News
Pengrowth Exceeds 2013 Production Guidance on Lower Capital Expenditures and Delivers Strong Reserves Growth
CALGARY, ALBERTA--(Marketwired - March 3, 2014) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to announce its financial and operating results for the fourth quarter and the full year 2013, as well as strong 2013 year-end reserve results. Production for the fourth quarter and the full year 2013 was above guidance, averaging 77,371 barrels of oil equivalent per day (boe/d) and 84,527 boe/d, respectively. The Company entered 2014 with approximately $450 million of cash on hand [Read more]
Vermilion Energy Inc. Announces 2013 Year-End Summary Reserves and Resource Information
CALGARY, March 3, 2014 /CNW/ - Vermilion Energy Inc. ("Vermilion", the "Company", "We" or "Our") (TSX, NYSE: VET) is pleased to announce summary 2013 year-end reserves and resource information. The estimates of reserves and resources and other oil and gas information contained in this news release has been estimated by GLJ Petroleum Consultants Ltd. ("GLJ") and prepared in accordance with National Instrument 51-101 "Standards of Disclosure for Oil and Gas Activities" of the Canadian Securities [Read more]
Vermilion Energy Inc. Announces Strong Production and Reserves Growth in 2013
CALGARY, March 3, 2014 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) is pleased to report operating and audited financial results for the fourth quarter and year ended December 31, 2013. HIGHLIGHTS We achieved record average annual production of 41,005 boe/d during 2013, an increase of 8% as compared to 37,803 boe/d in 2012. Approximately 75% of our year-over-year production growth was achieved organically through continued development [Read more]
Crude oil exists February with gain of 5%; naural gas off 7%
NEW YORK - The price of oil rose slightly Friday, finishing February with a gain of five per cent for the month. Benchmark West Texas Intermediate crude for April delivery rose 19 cents to close at US$102.59 a barrel on the New York Mercantile Exchange. For all of February, oil gained US$5.10 a barrel. U.S. refineries needed crude oil to make heating oil and diesel as frigid and stormy weather boosted demand. Natural gas ended a wild month by gaining 10 cents Friday to US$4.61 per 1,000 [Read more]
Give Obama elbow room on environment, Saskatchewan premier tells Ottawa
OTTAWA - The Harper government needs to bring in long-delayed regulations on the oil and gas industry to burnish Canada's environmental credentials and help win pipeline approvals, says Saskatchewan Premier Brad Wall. Or maybe not. It depends on which response to the same question one takes from the same Wall scrum with reporters. Wall joins a chorus of voices, including some in Canada's oil patch, who have suggested regulatory foot-dragging by the Conservative government has not been [Read more]
Surge acquires 19.8 percent block of Longview Oil Corp. shares
CALGARY, Feb. 28, 2014 /CNW/ - Pursuant to early warning reporting requirements in Canada, Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces that it has acquired ownership and control of 9,300,000 common shares ("Common Shares") of Longview Oil Corp. ("Longview"), representing 19.8 percent of the outstanding Common Shares, at a purchase price of $4.45 per Common Share (the "Block"). The Common Shares were acquired pursuant to a bought deal secondary offering of Common Shares (the [Read more]
Donnycreek Provides Wapiti and Kakwa Field Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 28, 2014) - Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) provides an operations update for its activities in the Wapiti and Kakwa areas. Wapiti Completion Operations Donnycreek is currently conducting completion operations on its horizontal middle Montney exploration well at 1-26-64-8 W6M (the "1-26 Well") and such operations are anticipated to be completed within the next 10 to 12 days. The Company's working interest in the [Read more]
Contact Announces Interim Filing, Credit Facilities Increase and Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 28, 2014) - Contact Exploration Inc. ("Contact" or the "Company") (TSX VENTURE:CEX) is pleased to announce that it has today filed its condensed interim consolidated financial statements for the three and nine month periods ended December 31, 2013 and the related management's discussion and analysis ("MD&A") on the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.sedar.com. Credit Facility [Read more]
Advantage Oil & Gas Ltd. Announces Closing of $94.1 Million Secondary Offering of Longview Common Shares
CALGARY, Feb. 28, 2014 /CNW/ - Advantage Oil & Gas Ltd. (TSX: AAV) ("Advantage") and Longview Oil Corp. (TSX: LNV) ("Longview") announce that Advantage has closed the sale of 21,150,010 common shares of Longview ("Longview Shares") owned by Advantage to a syndicate of underwriters led by RBC Capital Markets and FirstEnergy Capital Corp. and including Scotia Capital Inc., National Bank Financial Inc., CIBC World Markets Inc. and TD Securities Inc., at a price of $4.45 per share for gross [Read more]