CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce record corporate production, as a result of the successful 2014 drilling program. Based on field estimates, Tamarack has averaged 5,850 boe/d during the last 7 days of May 2014. Although Tamarack has been affected by production curtailments due to un-scheduled third party facility downtime in central Alberta, stronger than budgeted results from the [Read more]
News
Alberta oilsands worker injured while fixing bulldozer, dies in hospital
FORT MCMURRAY, Alta. - A man has died while working on a giant bulldozer in Alberta's oilsands.The provincial government says the 37-year-old was doing maintenance work on the machine at a Suncor (TSX:SU) mine site near Fort McMurray.The government says a reservoir or sump pan fell on the worker's head.The man was taken to hospital in Fort McMurray, where he died of his injuries.He worked for the North American Construction Group.The Edmonton-based company said in a statement that the man was an [Read more]
Keystone, times a few hundred: U.S. shakes up climate debate with new plan
WASHINGTON - The United States announced the most aggressive climate-change measures in its history Monday, a move that promptly triggered speculation about a potential ripple effect in other countries, including Canada.The regulations released by the Obama administration would chop carbon emissions from U.S. power plants by 30 per cent by 2030, the majority of those cuts coming by the end of this decade.That would take the U.S. a large step toward actually achieving the target it shares with [Read more]
Petrox Resources Announces the Acquisition of Producing Properties
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Petrox Resources Corp. (TSX VENTURE:PTC) (the "Corporation" or "Petrox") is pleased to announce that, further to its news release of May 21, 2014, the Corporation has now completed the acquisition of certain oil and gas properties located in the Fletwode area of Saskatchewan for $2,100.000. These properties include six oil producing wells with a combined producing rate of approximately 40 barrels per day and a total proven plus probable reserve of [Read more]
NEB Releases Expectations for Oil and Gas Industry on Improving Safety Culture
CALGARY, June 2, 2014 /CNW/ - The National Energy Board (NEB), along with the Canada Nova Scotia Offshore Petroleum Board and the Canada-Newfoundland and Labrador Offshore Petroleum Board, is taking additional steps to improve safety in the oil and gas industry with the release of a joint statement and framework on Safety Culture. The final paper, titled, "Advancing Safety in the Oil and Gas Industry: Statement on Safety Culture," outlines the NEB's expectations of regulated companies to build [Read more]
Plains Midstream charged in Alberta pipe leak
RED DEER, Alta. - Charges have been laid against the owner of a pipeline that leaked nearly half a million litres of oil into a central Alberta river. The Alberta Energy Regulator says Plains Midstream faces a charge under the federal Fisheries Act as well as a provincial charge of failing to report the leak as required by law. The June 7, 2012, spill from the Rangeland pipeline was discovered when landowners just north of Sundre began phoning in reports of a rotten egg smell, the telltale [Read more]
Mexico courting Canadian investment in newly reformed energy sector
CALGARY - Mexico is laying out the welcome mat for Canadian companies to invest in its energy sector, which is opening up to outside investment after more than 75 years of government control.The country doesn't have the technical know-how to exploit its unconventional sources of energy and Mexican government officials are in Calgary to invite Western Canadian companies to contribute their expertise and investment.Mexico has huge potential in so-called unconvential oil and gas that's trapped in [Read more]
Petrus Resources Ltd. Announces Closing of $50 Million Private Placement
CALGARY, ALBERTA--(Marketwired - June 2, 2014) - Petrus Resources Ltd. ("Petrus" or the "Company") is pleased to announce that it has closed its previously announced private placement co-led by RBC Capital Markets Inc. and GMP Securities L.P, and including Peters & Co. Limited, CIBC World Markets Inc. and Acumen Capital Finance Partners Limited (collectively, the "Agents"). The Company issued 9,240,000 Common Shares (including an upsize of 1,540,000 Common Shares from the original offering) [Read more]
Pilot Energy Corp. Announces Swift Current Asset Acquisition
Pilot Energy Corp. has duly executed an offer to purchase (the "OTP" or letter of intent) with the Vendor of certain oil and gas assets comprising 2,320 gross acres (1,838 net acres) in the Swift Current corridor as previously defined in Pilot's Corporate presentations. The assets comprise of 20 barrels of oil per day (gross/net) currently producing, plus 90 barrels per day (net) of suspended oil that can be re-activated immediately from six (6) gross (4.1 net) wells. The working interest in [Read more]
Plans to pipe oilsands crude to Quebec would barely benefit province, according to Greenpeace report
MONTREAL - A new report requested by Greenpeace says proposals to pipe oilsands crude to Quebec refineries would only deliver negligible economic benefits to the province. An economist who co-authored the study says job creation and spinoffs from several active pipeline-and-processing proposals would be insignificant to Quebec's overall economy. At the same time, Brigid Rowan says a pipeline accident could cost lives and put taxpayers on the hook for billions of dollars — particularly if a [Read more]