(All figures are in Canadian dollars) CALGARY, July 21, 2014 /CNW/ - PrairieSky Royalty Ltd. ("PrairieSky") (TSX:PSK) is pleased to announce its interim period results for the 35 day period ended June 30, 2014. PrairieSky commenced active operations on May 27, 2014 following the acquisition of its royalty business from Encana Corporation ("Encana"), and completed its initial public offering on May 29, 2014. Highlights Funds from operations was $31.0 million, or $0.24 adjusted per [Read more]
News
Oil rises above US$104 a barrel for 1st time since July 3; natural gas falls
The price of oil rose more than a $1 for the third time in the last four trading days, closing above $104 on Monday for the first time since July 3.Benchmark West Texas Intermediate crude for August delivery rose $1.46 to US$104.59 a barrel on the New York Mercantile Exchange. On Friday, the Nymex contract fell six cents to $103.13. Oil has gained 4.6 per cent over the past four trading sessions.Brent crude for September delivery, a benchmark for international oils, gained 44 cents to US$107.68 [Read more]
Oil price holds gain for the week on Middle East, Russia-Ukraine tensions
NEW YORK - The price of oil retreated slightly Friday but remained elevated because of political turmoil around the world. Concern that conflicts and rising tensions in the Ukraine and the Middle East could disrupt supplies sent oil prices higher this week, though the world appears to have an ample supply of crude and supplies have not been affected. The industry calls this higher price, based only on fear, a "risk premium." "Developments during the past couple of days have added to a [Read more]
Perpetual Energy Inc. announces upsizing and pricing of previously announced senior unsecured notes offering
CALGARY, July 18, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual" or the "Corporation") is pleased to announce the pricing of its offering of C$125 million aggregate principal amount of 8.75% Senior Unsecured Notes due July 23, 2019 (the "Notes") at par (the "Offering"), upsized from the previously announced C$100 million. Perpetual expects the Offering to close on or about July 23, 2014. The Notes were offered in each Province of Canada on a private placement basis through a [Read more]
Nexen sold assets to Pine Cliff
BNN energy reporter, Jameson Berkow, has confirmed that Nexen was the seller of $100 million of SE Alberta and SW Sask gas assets to Pine Cliff Energy. The shallow gas assets are primarily located Outside Medicine Hat and near Maple Creek. Confirmed: Nexen has indeed sold $100M worth of gas assets to Pine Cliff, spokesperson tells me, as Chinese-owned corp looks to cut costs— Jameson Berkow (@crudereporter) July 18, 2014 See the map of Nexen's conventional assets in Western [Read more]
Inter Pipeline Announces Completion of First Phase of Polaris Pipeline Expansion
CALGARY, ALBERTA--(Marketwired - July 18, 2014) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) is pleased to announce that a major component of the $1.4 billion Polaris pipeline system expansion has been successfully completed and placed into commercial service. Accordingly, Inter Pipeline has begun generating cash flow under its 20-year diluent transportation agreement with the FCCL Partnership ("FCCL"), a business venture between Cenovus Energy and ConocoPhillips Canada Resources [Read more]
Ivanhoe Energy Proposes Share Consolidation to Preserve NASDAQ Listing
CALGARY, July 18, 2014 /CNW/ - Ivanhoe Energy Inc. (TSX: IE) (NASDAQ: IVAN) has scheduled a special meeting of shareholders to be held on August 13, 2014. The purpose of the special meeting is to give shareholders the opportunity to approve a proposal to effect a share consolidation or reverse-split as a means of regaining compliance with NASDAQ's minimum bid price requirements prior to September 2, 2014. Details of the proposal are included in the proxy materials mailed to shareholders of [Read more]
Dejour’s 2014 Drill Operations Commence at Kokopelli
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dejour Energy Inc. (NYSE MKT:DEJ / TSX:DEJ) (“Dejour” or the “Company”), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, today announced that 2014 development operations are underway on its previously reported Kokopelli joint venture (the “Kokopelli Project”). The drill program for 2014 is focused on developing additional production from the liquids-rich [Read more]
Pine Cliff Energy Ltd. Enters Into $100 Million Agreement to Acquire Natural Gas Assets in Alberta and Saskatchewan
CALGARY, ALBERTA--(Marketwired - July 17, 2014) - Pine Cliff Energy Ltd. ("Pine Cliff") (TSX VENTURE:PNE) is pleased to announce that it has entered into a binding agreement dated July 17, 2014 (the "Agreement") to acquire certain shallow natural gas assets in Alberta and Southern Saskatchewan (the "Assets") from a senior oil and gas producer (the "Proposed Transaction") for cash consideration of $100 million, prior to any adjustments. The majority of the Alberta assets are located east of the [Read more]
Column: North America’s ‘crude moment’ has arrived
Over the next few years, any rise in global demand will be filled by Canada and the U.S RIYADH, Saudi Arabia/ Troy Media/ - At 11 million barrels of crude per day, the United States is now the world's top crude producer. That amount surpasses both Russia' daily output of 10.53 million bpd and Saudi Arabia's 9.45 million bpd, according to Bloomberg citing the Energy Intelligence Group. The U.S. had already been declared the world’s largest natural gas producer in 2010. Now, courtesy the [Read more]