CALGARY, Feb. 4, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release a summary of the Company's year-end 2013 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. ("McDaniel"). Overall, the results of Perpetual's capital investment program in 2013 were extremely positive, with reserve additions replacing production by close to 2.5 times. The majority of the 2013 reserve additions [Read more]
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Long Run Exploration Ltd. Announces Changes to the Board of Directors and Appointment of Vice President, Business Development
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) - Long Run Exploration Ltd. ("Long Run" or the "Corporation") (TSX:LRE) announces the resignation of Mr. Paul Dimitriadis from the Board of Directors effective immediately. Mr. Dimitriadis recently resigned from his position at Sprott Resource Corp., a significant investor in Long Run. On behalf of the Board of Directors and staff of Long Run, Bill Andrew, Chair and Chief Executive Officer, wishes to thank Mr. Dimitriadis for his valuable [Read more]
Keystone pipeline backed by coalition of Democrats, Republicans, labor, business
WASHINGTON - An unusual coalition that includes Republicans, Democrats, labour leaders, business leaders, veterans groups and Canada's ambassador to the United States joined forces Tuesday to push for quick approval of the Keystone XL pipeline. Five Democrats joined Republicans at a news conference to urge President Barack Obama to approve the pipeline following a State Department report last week that raised no major environmental objections. The $7 billion pipeline would carry oilsands [Read more]
Longview Oil Corp. and Advantage Oil & Gas Ltd. Announce $94.1 million Secondary Offering of Longview Common Shares
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) - As announced in a separate press release issued by Advantage Oil & Gas Ltd. (TSX:AAV) ("Advantage") which provided an update to Advantage's strategic review process, Longview Oil Corp. (TSX:LNV) ("Longview") and Advantage announce that Advantage has entered into an agreement relating to the sale of 21,150,010 Common Shares of Longview (the "Common Shares") owned by Advantage to a syndicate of underwriters led by RBC Capital Markets and [Read more]
Advantage Announces Completion of Strategic Alternatives Review, Disposition of Longview Common Shares, Three Year Development Plan & Glacier Phase VII Budget Approval
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) - Advantage Oil & Gas Ltd. (TSX:AAV)(NYSE:AAV) Highlights Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") announces that its strategic alternatives review process has been completed and did not result in an acceptable proposal. Numerous corporate and operational achievements have positioned the Corporation as a focused, industry leading, low cost Montney natural gas producer. Advantage has significantly improved the [Read more]
Lower-cost oil arriving at Suncor Montreal refinery by train, tanker
CALGARY - Suncor Energy Inc. says it's bringing lower-priced crude into its Montreal refinery by rail and ship as it awaits approval of a pipeline project that would send Alberta oil eastward. Canada's largest energy company (TSX:SU) is shipping 30,000 barrels per day of crude by rail to the 137,000 barrel per day refinery, following completion of an offloading facility there late last year. It's also accepting marine cargoes on an "opportunistic basis" from Texas and Louisiana "at [Read more]
Obama plays down Keystone job numbers, says “we’ll take a look at it”
During a Super Bowl interview with Fox News host Bill O'Reilly, President Barack Obama seemed less than enthused with the prospects accompanying building the Keystone XL pipeline. When directly asked if he would approve it, Obama replied: "we'll take a look at it". During the interview, O'Reilly cited the pipeline would create a total of 42,000 jobs for the country--Obama dismissed the number, responding to the host: Well first of all, it’s not forty two thousand. That’s — that’s not, uh, [Read more]
Renegade Petroleum Ltd. Announces a $58 Million Capital Budget Targeting $77 Million in Funds from Operations
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) - Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) announced today that its Board of Directors has approved a $57.7 million capital budget for 2014 directed at exploitation of its high quality light-oil assets in southeast and west central Saskatchewan. This capital program is consistent with the Company's long-term objectives of drilling low-risk, high impact wells while maintaining a strong focus on cost reduction in all [Read more]
Suncor hikes quarterly dividend again
CALGARY - Suncor Energy Inc. (TSX:SU) has hiked its dividend by 15 per cent to 23 cents per share — nine months after a 54-per-cent bump its quarterly payout. Its board of directors has also approved additional share buybacks of up to $1 billion, subject to regulatory approval. Canada's largest energy company made the announcement as it reported quarterly operating earnings that were slightly lower year-over-year, but missed analyst estimates. Suncor's operating earnings during the last [Read more]
Alexander Energy Ltd. Announces Completion of Previously Announced Southeast Saskatchewan Property Acquisition
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2014) - Alexander Energy Ltd. ("Alexander" or the "Corporation") (TSX VENTURE:ALX) is pleased to announce that it has successfully completed the acquisition of certain assets located in southeast Saskatchewan (the "Assets") previously announced on December 18, 2013. The Assets were acquired from an arm's length public oil and gas company for total consideration of $32.5 million with an effective date of December 1, 2013. Following the completion of the [Read more]