CALGARY - Railway operators and the petroleum industry have weighed in on how they think the risks of shipping dangerous goods by rail ought to be divvied up — and it's clear the two aren't on the same page. Rail carriers aren't happy with the status quo, in which they're legally required to move whatever customers want shipped, but are entirely on the hook if something goes wrong. The energy players, on the other hand, are generally satisfied with how the current system works, although they [Read more]
News
Oil extends gains above $102 a barrel on demand outlook, lingering Ukraine jitters
The price of oil extended gains above $102 a barrel Monday on forecasts of higher global demand. Benchmark U.S. crude for June delivery was up 16 cents to $102.18 a barrel at 0620 GMT in electronic trading on the New York Mercantile Exchange. The contract rose 52 cents Friday to close at $102.02 and gained about 2 per cent for the week. Brent crude for July delivery, a benchmark for international oil, was up 41 cents to $110.15 on the ICE exchange in London. The Commerce Department said [Read more]
Sunshine Oilsands Ltd Announces New Equity Placement
CALGARY, Alberta and HONG KONG, May 18, 2014 /CNW/ - (1) NEW PRIVATE PLACEMENT OF HK$544 MILLION OF COMMON SHARES UNDER THE GENERAL MANDATE TO JIN QUAN LIMITED AND IMMEDIATE Focus International Limited (2) CANCELLATION OF THE CLOSING OF THE REMAINING 38,346,042 UNITS TO PYRAMID VALLEY LIMITED PURSUANT TO THE PRIVATE PLACEMENT ANNOUNCED ON JANUARY 24, 2014 (3) INSIDE INFORMATION – PROPOSED DEBT OFFERING Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) is [Read more]
Painted Pony Petroleum Ltd. Announces Election of Directors and Appoinment of New Director
CALGARY, ALBERTA--(Marketwired - May 16, 2014) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX:PPY) announced today that the nominees listed in the Corporation's Information Circular dated April 9, 2014 were elected as directors of the Corporation at its annual general meeting held May 15, 2014. By resolution the following six nominees were elected as directors of the Corporation to serve until the next annual meeting of shareholders of the Corporation, or until their [Read more]
Bellatrix provides an operational update and announces updated 2014 guidance
TSX, NYSE MKT: BXE CALGARY, May 16, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to provide an operational update and updated 2014 guidance. Unscheduled Temporary Downtime in West Central Alberta The successful application of horizontal drilling and slick water fracturing technology in West Central Alberta has resulted in producers overwhelming the existing processing and gathering infrastructure. This has resulted in area producers [Read more]
Ivanhoe Energy Chief Financial Officer Resigns
CALGARY, May 16, 2014 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) today announced that Senior Vice President, Finance and Chief Financial Officer (CFO), Gerald Schiefelbein, is leaving Ivanhoe Energy to accept a leadership role with another company. Mr. Schiefelbein's resignation is effective May 31, 2014 and he will continue in the role until that date to assist the Company with the transition to a new CFO. Carlos A. Cabrera, Executive Chairman, commented: "On behalf of Ivanhoe Energy [Read more]
Shoreline Energy Corp. Announces Financial and Operating Results for the First Quarter 2014
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") is pleased to report its financial and operating results from the first quarter 2014. A complete copy of the financial statements and w management's discussion and analysis may be obtained at www.sedar.com or on the Company's website at www.shorelineenergy.ca. First Quarter 2014 Financial and Operating Highlights Petroleum and natural gas sales increased 32% to $7,281,000 [Read more]
Crude oil falls below US$102 a barrel after U.S. factory output slips
The price of oil fell below US$102 a barrel Thursday as weak economic data in the U.S. suggested demand for crude could fall. Benchmark West Texas Intermediate crude for June delivery fell 87 cents to close at US$101.50 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 25 cents to close at US$110.44 a barrel in London. Oil slipped after the Federal Reserve said Thursday that U.S. industrial production dropped in [Read more]
Shoreline Energy Corp. Announces Amended and Restated Forbearance Agreement with Century Services
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - Shoreline Energy Corp. (TSX:SEQ) and its wholly owned US subsidiary Shoreline Energy Holdings, Inc. (collectively "Shoreline" or the "Corporation") announces that it has entered into an amended and restated Forbearance Agreement with its senior secured lender, Century Services LP (the "Century Forbearance"). Subject to completion of a similar arrangement with its remaining secured lender in respect of its US Wattenburg working interest asset, [Read more]
Traverse Energy Announces 2014 First Quarter Results
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - Traverse Energy Ltd. ("Traverse" or "the Company") (TSX VENTURE:TVL) presents financial and operating results for the three months ended March 31, 2014. Three Months Ended Highlights (unaudited) March 31, 2014 December 31, 2013 March 31, 2013 Financial ($ thousands, except per share amounts) Petroleum and natural gas revenue 4,535 4,055 2,761 Cash flow from operating [Read more]