CALGARY, ALBERTA--(Marketwired - July 31, 2014) - Osum Oil Sands Corp. ("Osum" or the "Company"), a private in-situ oil sands company, today announced that its wholly-owned subsidiary, Osum Production Corp. ("OPC"), has completed the purchase of the Orion Oil Sands Project from Shell Canada (a Royal Dutch Shell Group entity) for Canadian $325 million. Commenting on the success of the acquisition, Steve Spence, President and Chief Executive Officer, said: "The acquisition of the Orion project [Read more]
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Octagon 88 Resources Announces Bluesky Gething Horizontal Leg Completed
ZUG, Switzerland--(BUSINESS WIRE)--Octagon 88 Resources Inc., (OCTX) is pleased to announce that since the company’s last operation update the operator has moved forward with drilling activity to move to primary production on the recently spudded Bluesky Gething well. The first horizontal lateral from the well pad targeting the initial primary production zone in the Bluesky Gething pay zone has now been completed. The horizontal portion was drilled 1050 meters into the pay zone. Octagon 88 [Read more]
IMF calls on Canada, others to raise carbon taxes, cut income taxes
OTTAWA - The International Monetary Fund says Canada and other countries can improve their economies and environment by hiking energy taxes — while cutting them on people and capital.In a new book, Getting Energy Prices Right: From Principle to Practice, the IMF essentially endorses policies at times advocated by the federal Liberals and NDP calling for what some have termed a "green shift" in the taxation system. The Conservative government, however, has rejected carbon taxes.The premise of the [Read more]
Apache Corp., under investor pressure, exiting Kitimat LNG project
CALGARY - U.S. energy firm Apache Corp. says it's exiting the Kitimat, B.C., LNG project, which it had been developing with Chevron Corp.Houston-based Apache also plans to get rid of its interest in another major liquefied natural gas project in Australia.Apache made the announcement with its second-quarter financial report.The Kitimat LNG project is furthest along in the development process of any of the proposed natural gas export facilities planned for Canada's West Coast.Apache has been [Read more]
Vermilion Energy Inc. Announces Results for the Three and Six Months Ended June 30, 2014
CALGARY, July 31, 2014 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) is pleased to report operating and unaudited financial results for the three and six months ended June 30, 2014. HIGHLIGHTS Achieved average production of 52,089 boe/d during the second quarter of 2014, an increase of 12% as compared to 46,677 boe/d in the prior quarter and an increase of 22% compared to 42,813 boe/d in the second quarter of 2013. Increased production [Read more]
Imperial announces estimated second quarter financial and operating results
For the six months ended June 30, 2014 CALGARY, July 31, 2014 /CNW/ - Second quarter Six months (millions of dollars, unless noted) 2014 2013 % 2014 2013 % Net income (U.S. GAAP) 1,232 327 277 2,178 1,125 94 Net income per common share - assuming dilution [Read more]
Baytex Reports Q2 2014 Results
CALGARY, ALBERTA--(Marketwired - July 31, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) reports its operating and financial results for the three and six months ended June 30, 2014 (all amounts are in Canadian dollars unless otherwise noted). Commenting on the results, James Bowzer, President and Chief Executive Officer, said: "We are pleased to report our second quarter results which include twenty days of operations for our recently acquired Eagle Ford assets. The Eagle Ford [Read more]
Surge Energy Inc. announces record second quarter 2014 results; closing of Longview transaction; and continued drilling success at Shaunavon
CALGARY, July 31, 2014 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces record financial and operating results for the three and six month periods ended June 30, 2014. Surge's financial and operating results for the period ended June 30, 2014 include only 25 days of contribution from the $429 million strategic business combination with Longview Oil Corp. ("Longview"), which closed late in the second quarter of 2014. FINANCIAL AND OPERATING [Read more]
Suncor Energy reports second quarter results
CALGARY, ALBERTA--(Marketwired - July 30, 2014) - Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, unless noted otherwise. Certain [Read more]
Suncor Energy increases dividend
CALGARY, ALBERTA--(Marketwired - July 30, 2014) - Suncor Energy's Board of Directors has approved an increase in the company's quarterly dividend to $0.28 per share on its common shares, from the previous level of $0.23 per share. The dividend is payable September 25, 2014 to shareholders of record at the close of business on September 4, 2014. Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and [Read more]