CALGARY - New National Energy Board data shows oil-by-rail exports have risen ninefold in less than two years, but they're still far eclipsed by volumes moving by pipeline.The energy regulator's figures show more than 146,000 barrels per day were exported on trains in the last three months of 2013, compared with just under 16,000 in the first three months of 2012.But in all of 2013, only about five per cent of Canada's 2.6 million barrels per day of crude oil exports moved by rail, according to [Read more]
News
Tuscany Energy Ltd. Provides Update on 2 for 1 Stock Split
CALGARY, ALBERTA--(Marketwired - May 6, 2014) - Tuscany Energy Ltd. ("Tuscany") (TSX VENTURE:TUS) announces that the TSX Venture Exchange has advised Tuscany that it will amend its bulletin with respect to the two (2) for one (1) stock split of Tuscany's common shares so as to indicate Tuscany's common shares will be traded in accordance with the "due bill" procedures from May 2, 2014 to and including the "payment date" of the stock split on May 7, 2014, and that the common shares will now begin [Read more]
G7 sends message to Russia at energy ministers meeting, says Canada’s Rickford
OTTAWA - A special meeting of G7 energy ministers says energy should not be used to coerce countries politically or threaten their security. Canada's new Natural Resources Minister Greg Rickford says the G7 communique is a political statement aimed at Russia. Rickford says his fellow ministers expressed extreme concern today over Russia's continued incursion into Ukraine. The G7 ministers were in the second day of a special meeting in Rome to look at ways to wean Europe off Russian [Read more]
Long Run Exploration Ltd. Announces 2014 First Quarter Results as a Dividend Plus Growth Company
CALGARY, ALBERTA--(Marketwired - May 6, 2014) - LONG RUN EXPLORATION LTD. (TSX:LRE) ("Long Run" or the "Company") is pleased to announce our first quarter financial and operational results. Results from the first quarter of 2014 support our focus on a sustainable business plan which includes the payment of a monthly dividend and provides annual per share growth. For 2014, we expect capital expenditures and dividend payments to be fully funded using funds flow from operations. FIRST QUARTER [Read more]
Penn West Announces the Renewal of its Bank Facility
CALGARY, May 6, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST" or the "COMPANY") announces that it has closed the renewal of its unsecured, revolving bank facility today. Penn West chose to reduce the borrowing capacity under the renewed facility to an aggregate of $1.7 billion, compared to an aggregate borrowing limit of $3.0 billion under the facility prior to the renewal, as less credit capacity is required under Penn West's long-term plan announced in late 2013. [Read more]
Artek Exploration Ltd. Provides Operations Update
CALGARY, ALBERTA--(Marketwired - May 6, 2014) - Artek Exploration Ltd. (TSX:RTK) - Artek Exploration Ltd. ("Artek" or the "Company") is pleased to provide the following operational update. Early in the first quarter at Inga, Artek executed its first slickwater hybrid frac on the horizontal Doig well located at 13-16-87-23W6M (60% W.I.). The well had an average 30 day initial production (IP30) rate of approximately 1,200 boe/d with 67% liquids, which is the highest liquids percentage of all [Read more]
Deep Well SAGD Steam Update
EDMONTON, ALBERTA--(Marketwired - May 6, 2014) - Deep Well Oil & Gas, Inc. (and its subsidiaries - "Deep Well" or "Company") (OTCQB:DWOG) wishes to announce that the SAGD steam plant and water handling facility is mechanically complete and has been turned over from the Construction Management Team to Operations for start-up. We have been informed by the operator that the first start-up steam circulation phase to establish communication between the injector well and the producer well is [Read more]
Bellatrix Exploration Ltd. Announces First Quarter 2014 Financial Results
CALGARY, May 6, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) announces its financial and operating results for the three months ended March 31, 2014. Forward-Looking Statements This press release, including the report to shareholders, contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the beginning of the management's discussion and analysis (the [Read more]
Canada sees nine-fold jump in crude-by-rail exports over two years
VANCOUVER - There has been a nine-fold increase in Canada's oil-by-rail exports over the past two years.Data released by the National Energy Board says 15,980 barrels a day of crude were exported by rail in the first quarter of 2012.By the fourth quarter of 2013 — October to December of last year — that had increased to 146,047 barrels a day.Moving crude by rail has been on the rise, as production increases in the Alberta oil sands and oil pipeline proposals like Keystone XL and the Northern [Read more]
Cardinal Energy Announces First Quarter Results
CALGARY, ALBERTA--(Marketwired - May 5, 2014) - Cardinal Energy Ltd. ("Cardinal") (TSX:CJ) is pleased to announce its operating and financial results for the quarter ended March 31, 2014. Cardinal also announces that its unaudited interim financial statements and related Management's Discussion and Analysis for the quarter ended March 31, 2014 is available on the System for Electronic Analysis and Retrieval ("SEDAR") and on Cardinal's website at www.cardinalenergy.ca. Highlights [Read more]