CALGARY, ALBERTA--(Marketwired - April 2, 2014) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces that the agreement relating to the acquisition of Devon Canada's Canadian conventional assets, excluding Horn River and the heavy oil properties, has been completed. Canadian Natural will immediately integrate the acquired properties into its ongoing operations. The acquired production, infrastructure and land add to Canadian Natural's [Read more]
News
Cenovus prepays refining partnership contribution payable
Early payment reduces interest costs CALGARY, April 1, 2014 /CNW/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has prepaid its US$2.7 billion partnership contribution payable to WRB Refining LP of which Cenovus is a 50% owner. This resulted in a net cash payment of approximately US$1.35 billion from Cenovus. With the creation of WRB Refining in 2007, Cenovus's U.S. partner, Phillips 66, contributed the Wood River and Borger refineries and Cenovus contributed a note payable of US$7.5 billion. [Read more]
Petrolia Announces the Closing of the Anticosti Transaction
QUÉBEC CITY, QUÉBEC--(Marketwired - April 1, 2014) - Pétrolia (TSX VENTURE:PEA) announces that it has closed the Anticosti transaction originally disclosed on February 13, 2014. The closing of this transaction has resulted in the creation of a limited partnership that will own and operate the interests on Anticosti Island that were previously held by Pétrolia and Corridor Resources Inc. The following is a list of the limited partners and their ownership percentages: Partners Percentage [Read more]
Oil slips below $100 on weak China manufacturing data, forecast of rising US crude supplies
NEW YORK - The price of oil fell 1.6 per cent Tuesday to just below $100 a barrel, dented by soft Chinese manufacturing figures and expectations of another increase in U.S. crude stockpiles. Benchmark U.S. crude for May delivery was down $1.61 to $99.97 a barrel in afternoon trading on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties of oil used by many U.S. refineries, was down $1.72 to $106.04 a barrel in London. Data showing weak [Read more]
Magnum Energy Inc. Announces Extension to Closing Date of Provost Transaction
CALGARY, ALBERTA--(Marketwired - April 1, 2014) - MAGNUM ENERGY INC. ("Magnum" or the "Corporation") (TSX VENTURE:MEN) Magnum announces an April 22, 2014 extension to the closing date of the previously announced transaction with Artisan Energy Corporation ("Artisan") to sell Magnum's 50% working interest in the Provost area of Alberta (the "Provost Asset") for proceeds of $5.6 million. The effective date has also been amended to March 31, 2014. [Read more]
Polar vortex, shrinking loonie, create short-term boost for Canadian gas
Disappearances of Canadian benchmarks will influence future oil and gas forecasts and evaluations CALGARY, ALBERTA (April 1, 2014) – Deloitte’s Resource Evaluation & Advisory group released its current Canadian domestic oil and gas price forecast today, noting recent increases in Henry Hub natural gas futures for 2014 as high as US$4.94/Mcf. Deloitte’s Andrew Botterill, Senior Manager Resource Evaluation & Advisory, attributes the increases to above-normal draws on U.S. natural gas [Read more]
Hemisphere Energy Announces 64% Increase in Proved Plus Probable Reserves in 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 1, 2014) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce the results of its year-end independent reserves evaluation in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") as at December 31, 2013. The independent reserves evaluation covers the twelve month period ended December 31, 2013. During the year Hemisphere drilled and placed on production two horizontal [Read more]
Shoreline Energy Corp. Announces Termination of Merger and Review of Strategic Alternatives to Maximize Shareholder Value
CALGARY, ALBERTA--(Marketwired - April 1, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") announces today that the merger transaction with Lilis Energy Inc. ("Lilis") has been terminated by both parties. Having received an amended offer with a substantial reduction in purchase price, the Shoreline Board of Directors, after consultation with the Special Committee of the Board and its financial advisors and in light of certain inquiries with respect to a potential sale [Read more]
Canada Energy Partners Grants Option to Sell Montney Lands and Increases/Extends Financing Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 1, 2014) - Canada Energy Partners Inc. (TSX VENTURE:CE) (the "Company") is pleased to announce that it has granted a third party an option to purchase (the "Option") the Company's Montney Shale lands and wells for CDN$16,070,000 in cash. The Option is exercisable until June 30, 2014 and, in the event the third party exercises the Option, the subsequent sale will be subject to certain conditions including shareholder and regulatory approval, [Read more]
Spartan Energy Corp. Provides Corporate Pro Forma Reserves Summary and Renegade Petroleum Ltd. 2013 Year-End Financial and Reserves Information
CALGARY, ALBERTA--(Marketwired - April 1, 2014) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased to provide a pro forma reserves summary as a result of the material increase in Spartan's reserves due to the completion of the acquisition of Renegade Petroleum Ltd. ("Renegade") on March 31, 2014. Spartan also reports the financial results and year-end reserves of Renegade for the year ended December 31, 2013, all as approved by the board of directors of Renegade on [Read more]