EDMONTON - The Alberta New Democrats have released what they say is a blueprint for how the governing Tories plan to reform energy industry regulations.The draft paper proposes tailoring environmental requirements to specific risks in different areas.The document says managing development should rely less on government-set targets and more on groups working together to establish what's appropriate.The draft suggests that's a better way to take into account the cumulative effects of many [Read more]
News
Study: Foreign investment rules hurting oilsands, especially small players
CALGARY - A new study says rules imposed on foreign state-owned investment in the oilsands is having some unintended consequences. A report by the University of Calgary's School of Public Policy says the share prices of oilsands firms have suffered since the rules were announced in late 2012. The biggest impact has been on junior oilsands companies, whose stocks dropped by as much as 50 per cent during the first half of 2013. Small oilsands companies rely on outside investment to grow [Read more]
Strata Oil Commences Seismic Study To Assess Primary Heavy Oil Production Potential
For the past year we've been looking at the potential of our 100%-owned Cadotte Project to support a cold heavy oil production component, as we reported last June. This was a result of some new findings in our Resource Evaluation of the western portion of our project, which boosted our resource by 3.4 billion barrels in-place, of which 887 are estimated to be recoverable using existing technology. Due to its relatively low cost and favorable economics, cold production in the Peace River area [Read more]
PanTerra Announces Increase to Bought-Deal Financing from $100 Million to $130 Million
CALGARY, ALBERTA--(Marketwired - June 12, 2014) - PanTerra Resource Corp. ("PanTerra" or the "Corporation") (TSX VENTURE:PRC) is pleased to announce that it has increased its previously announced bought deal financing with a syndicate of underwriters (collectively, the "Underwriters") co-led by Desjardins Capital Markets and TD Securities Inc. (together, the "Co-Lead Underwriters") and including Raymond James Ltd., Beacon Securities Limited, Haywood Securities Inc., CIBC World Markets Inc., and [Read more]
Panterra Enters Into Agreement to Acquire Strategic Oil & Gas Assets and Announces $100 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - June 12, 2014) - PanTerra Resource Corp. ("PanTerra" or the "Corporation") (TSX VENTURE:PRC) is pleased to announce that it has entered into an arm's length purchase and sale agreement dated June 11, 2014 (the "Purchase and Sale Agreement") with a public Canadian oil and gas company to acquire (the "Acquisition") certain natural gas assets located in the Western Canadian foothills areas of Lynx/Palliser/Minnow and Findley/Copton/Ojay in Alberta and British [Read more]
OPEC shielded from making tough calls as oil price stays high, US production meets demand
NEW YORK - The world oil market has set up quite nicely for OPEC.Dramatic changes in oil production around the globe are balancing each other out instead of wreaking havoc. This has helped world oil prices stay high enough to provide OPEC countries with robust income, but not so high that they scare customers away from buying more of their precious product.Brent crude, the most important international oil benchmark, has hovered in the range of $110 per barrel over much of the last 4 years, with [Read more]
Questerre Appoints Earl Hickok to Board and Reports Voting Results of Election of Directors
CALGARY, ALBERTA--(Marketwired - June 12, 2014) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) announced that, at its annual and special meeting of shareholders held on June 11, 2014 (the "Meeting"), Earl Hickok joined the Board of Questerre. Peder Paus, Chairman of Questerre, commented, "We are very pleased to have Earl join our Board. His extensive engineering background will be important as we accelerate the development of our Montney acreage in the [Read more]
Paramount Resources Ltd. Completes Acquisition of MGM Energy Corp.
CALGARY, ALBERTA--(Marketwired - June 11, 2014) - Paramount Resources Ltd. (TSX:POU) and MGM Energy Corp. (TSX:MGX) announced today that Paramount has completed the acquisition of all of the outstanding common shares of MGM Energy not owned by it pursuant to an arrangement under the Business Corporations Act (Alberta). Paramount issued 1,127,790 Class A Common Shares in connection with the transaction. The common shares of MGM Energy are expected to be delisted from the Toronto Stock Exchange [Read more]
Oil boom produces rare jobs bonanza for archaeologists to survey sites ahead of development
TIOGA, N.D. - Drilling crews are eager to plunge their equipment into the ground. Road builders are ready to start highway projects, and construction workers need to dig. But across the hyperactive oil fields of North Dakota, these and other groups often must wait for another team known for slow, meticulous study — archaeologists, whose job is to survey the land before a single spade of dirt can be turned. The routine surveys have produced a rare jobs bonanza in American archaeology, a [Read more]
Oil prices barely budge; lower World Bank forecast offsets dip in U.S. supplies
The price of oil bounced around before finishing with a slight gain Wednesday. U.S. supplies declined more than expected, but a reduction in the World Bank's estimate of global economic growth raised concerns about demand.Benchmark West Texas Intermediate crude for July delivery rose five cents to US$104.40 a barrel on the New York Mercantile Exchange.Brent crude, the benchmark for international varieties, gained 43 cents to US$109.95 a barrel on the ICE Futures exchange in London amid increased [Read more]