CALGARY, June 3, 2014 /CNW/ - Longview Oil Corp. ("Longview") is pleased to announce that on June 3, 2014 it held its annual and special meeting of shareholders (the "Meeting"), whereby Longview shareholders approved the previously announced plan of arrangement (the "Arrangement") involving Longview, Surge Energy Inc. and the shareholders of Longview. A total of 30,084,724 common shares (approximately 63.95% of the outstanding common shares) were represented at the Meeting in person or by [Read more]
News
Pipeline company Plains Midstream fined after guilty plea in Alberta spills
RED DEER, Alta. - A pipeline company has been fined after pleading guilty in two spills that sent nearly five million litres of oil into Alberta rivers and wetlands. Plains Midstream is to pay a total of $1.3 million for its role in the spills, one of which was the second largest in Alberta history. In April 2011, a poorly welded and highly stressed section of pipe cracked and leaked about 4.5 million litres of oil into low-lying marshlands near the northern community of Little [Read more]
Two studies in Nova Scotia say fracking poses low risk to groundwater
HALIFAX - Two new reports from an expert panel on hydraulic fracturing in Nova Scotia suggest the process — if handled properly — does not pose a serious threat to the province's groundwater supply.The panel, led by Cape Breton University president David Wheeler, says the province's stable geology will make contamination of drinking water wells less likely.The reports also say that establishing monitoring and regulatory practices to ensure wells are properly installed is "relatively [Read more]
Scientists’ letter to Prime Minister Stephen Harper: Reject Northern Gateway
VANCOUVER - Hundreds of scientists are asking Prime Minister Stephen Harper to reject a federal panel report recommending approval of the Northern Gateway pipeline.In an open letter, the scientists say the joint review panel report that recommended approval of the project is fundamentally flawed.Among the problems, they say the panel did not look at the overall increase in global greenhouse gas emissions that will result from the expansion in oil sands production.The letter says the panel also [Read more]
Petrus Resources Ltd. Announces Record First Quarter 2014 Cash Flow and Operating Results
CALGARY, ALBERTA--(Marketwired - June 3, 2014) - Petrus Resources Ltd. ("Petrus" or the "Company") is pleased to report its operating and financial results for the first quarter of 2014. Highlights include: Average production of 4,373 boe per day in the quarter, up from 3,007 boe per day in the first quarter of 2013, an increase of 33% per debt-adjusted share. The operating netback was $36.71 per boe in the first quarter of 2014, compared to $21.98 per boe in the same period of 2013 (a [Read more]
Artek Exploration Ltd. announces closing of bought deal equity financing
CALGARY, June 3, 2014 /CNW/ - Artek Exploration Ltd. ("Artek" or the "Corporation") (TSX: RTK) is pleased to announce the closing of its recently announced bought deal financing for aggregate gross proceeds of approximately $43 million. An aggregate of 8,050,000 common shares of the Corporation were issued at a price of $4.10 per common share and 1,987,000 common shares of the Corporation were issued on a "flow-through" basis within the meaning of the Income Tax Act (Canada) at a price of $5.04 [Read more]
Over-Allotment Option Exercised in Connection With PrairieSky Royalty Initial Public Offering
CALGARY, ALBERTA--(Marketwired - June 3, 2014) - Encana Corporation ("Encana") (TSX:ECA)(NYSE:ECA) and PrairieSky Royalty Ltd. ("PrairieSky") (TSX:PSK) announced today that, in connection with the initial public offering of 52,000,000 common shares of PrairieSky (the "Offering") at an offering price of $28.00 (the "Offering Price"), the over-allotment option granted to the underwriters to purchase up to an additional 7,800,000 common shares (the "Over-Allotment Option") at the Offering Price has [Read more]
Oil steady at $102 a barrel on China, U.S. data
The price of oil was steady near US$102 a barrel Tuesday after an improvement in Chinese manufacturing was offset by reduced consumer spending in the U.S.Benchmark U.S. oil for July delivery was down 7 cents to $102.40 a barrel at 5 a.m. ET in electronic trading on the New York Mercantile Exchange. The contract fell 24 cents to $102.47 on Monday.Brent crude, a benchmark for international oils, was down 31 cents to $108.52 a barrel in London.Energy demand from China was likely to stay solid as a [Read more]
Gear Energy Ltd. Announces Appointment of Board Director
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Gear Energy Ltd. ("Gear") (TSX:GXE) is pleased to announce that effective June 2, 2014, Mr. Harry English has been appointed to the Board of Directors of Gear. Mr. English is a Chartered Accountant with over 37 years' experience, most recently as a senior partner at Deloitte LLP. He is a former Professional Practice Director for Deloitte LLP's audit division in Alberta, Saskatchewan and Manitoba and spent the majority of his professional career [Read more]
Canadian Law Makes It Cheaper To Prevent Oil Sands Leaks Than Clean Them Up
As the Canadian government pushes a new law rendering pipeline companies liable for all damages from leaks and spills, the only friend to both sides in this polarized world of dirty oil sands is leak prevention technology. On May 14, amid heightened opposition to two planned pipelines, Canada's Natural Resources Ministry unveiled a new law making pipeline operators liable for all the costs and damages related to oil spills, regardless of whether the operators were at fault or demonstrated [Read more]