CALGARY, Feb. 18, 2014 /CNW/ - Nick Taylor, CEO of Softrock Minerals Ltd, is pleased to announce that the Farmor has set production casing on its first well on Softrock (TSX-V SFT) and Greencastle's (TSX-V VGN) jointly owned 640 acre Alberta Crown lease after reaching a total measured depth of 3006 meters with the last 1420 meters being lateral (horizontal) in the Charlie Lake formation. In the next few weeks the farmor expects to frac and complete the well which would earn it a 100% working [Read more]
News
B.C. Liberals to outline LNG policy plans in a promised balanced budget
VICTORIA - British Columbia Finance Minister Mike de Jong says the budget he will table today contains few spending announcements or tax breaks, but it's balanced and forecasts three years of surpluses — an achievement most other provinces would celebrate. B.C. and Saskatchewan are the only two provinces in Canada to post balanced budgets this year. Last week, federal Finance Minister Jim Flaherty said the Conservative government is on track to balance the books next year — an election [Read more]
Irving Oil Announces Voluntary Conversion of Crude Oil Railcar Fleet
Irving Oil fleet conversion to be completed by April 30 and supplier adherence by year-end SAINT JOHN, NB, Feb. 17, 2014 /CNW/ - Irving Oil announced today that by April 30, 2014, it will complete the conversion of its proprietary fleet of crude oil railcars to the Association of American Railroads' (AAR) recommended specifications for DOT-111 railcars constructed after October 1, 2011. This will require the voluntary removal of older-model railcars from service. The AAR specifications [Read more]
Train accidents stir worries about crude transport
BILLINGS, Mont. - At least 10 times since 2008, freight trains hauling oil across North America have derailed and spilled significant quantities of crude, with most of the accidents touching off fires or catastrophic explosions. The derailments released almost 3 million gallons of oil, nearly twice as much as the largest pipeline spill in the U.S. since at least 1986. And the deadliest wreck killed 47 people in the town of Lac-Megantic, Quebec. Those findings, from an Associated Press [Read more]
Terra Energy Announces 2014 Capital Expenditure Plan and Provides 2014 Targets and Guidance
CALGARY, ALBERTA--(Marketwired - Feb. 14, 2014) - Terra Energy Corp. ("Terra" or the "Company") (TSX:TT) is pleased to announce its Capital Expenditure Plan and Budget for 2014 ("2014 Capex Plan"). Initial total capital spending on exploration and development projects for the year is approved at approximately $14.3 million. Following the various asset marketing and divestment processes which have been undertaken by the Company over the past year, the Company continues to have a sizeable [Read more]
White House to PM: DON’T EXPECT KEYSTONE ANSWERS
WASHINGTON - The White House says Prime Minister Stephen Harper shouldn't expect any new information if he presses for details on Keystone XL next week. Senior officials in the Obama administration say Harper will be told in private the same thing he's hearing in public: that a process is underway, it's not political, and it's unclear when it will end. The prime minister is expected to raise the long-delayed pipeline when he meets President Barack Obama next week in Mexico at a North [Read more]
Renegade Petroleum Ltd. Announces Closing of Strategic $109 Million Asset Disposition and Confirms February 2014 Dividend
CALGARY, ALBERTA--(Marketwired - Feb. 14, 2014) - Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) is pleased to announce the successful closing of the previously announced disposition of certain oil and gas assets in southeast Saskatchewan (the "Disposition Assets") for gross proceeds of $109 million (the "Disposition"). ASSET DISPOSITION The Disposition Assets represent approximately 1,450 boe/d (95% oil and natural gas liquids) of oil and natural gas liquids [Read more]
Surge Energy closes previously announced core area light oil acquisition, conversion of subscription receipts, upwardly revised guidance and increased dividend
CALGARY, Feb. 14, 2014 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announced that it has closed the previously announced acquisition (the "Acquisition") of a high quality, low decline, operated, light oil producing asset strategically located in the Company's core area of Southeast Saskatchewan (the "Assets"). The Assets include an estimated annualized 1,250 boepd (97 percent oil) of high netback light crude oil production. The purchase price for the Assets was $109 [Read more]
Enbridge: Alberta Clipper expansion delayed
CALGARY - Enbridge Inc. (TSX:ENB) says the U.S. State Department is taking longer than expected to review an expansion to its Alberta Clipper pipeline between Alberta and Wisconsin. But executives with the Calgary-based energy shipper say they're confident a green light will come in time to expand the line to 800,000 barrels per day by the middle of next year. Enbridge obtained a U.S. federal permit in 2009 before starting up the first phase of the line, which has 450,000 barrels per day [Read more]
Column: Proposed Kitimat oil refinery just another barrier to oil sands development
The suggestion that a refinery might allow for acceptable development is little more than a red herring By Kenneth Green CALGARY, AB/ Troy Media/ - B.C. Green party MLA Andrew Weaver has (grudgingly) endorsed the idea of building a $25 billion refinery in British Columbia to convert Alberta’s bitumen into gasoline, diesel fuel, and aviation fuel, allowing the export of refined product, reasoning that it is safer for the environment because refined petroleum products evaporate more [Read more]