The price of oil rose the most in two weeks Tuesday in the wake of strong U.S. factory data and an apparent easing in tensions over Ukraine.Benchmark West Texas Intermediate crude for April delivery gained $1.62 to US$99.70 on the New York Mercantile Exchange. It was oil's biggest gain since March 3.Brent crude, used to set prices for international varieties, gained 55 cents to US$106.79 on the ICE Futures exchange in London.Data from the Federal Reserve showed that U.S. factory output in [Read more]
News
Vermilion Energy Inc. Announces Acquisition of Southeast Saskatchewan Assets
CALGARY, March 18, 2014 /CNW/ - Vermilion Energy Inc. ("Vermilion", the "Company", "We" or "Our") (TSX, NYSE: VET) is pleased to announce that we have entered into an arrangement agreement (the "Arrangement") with a private southeast Saskatchewan producer ("Privateco") for total consideration of $400 million, comprised of cash and share consideration of $345 million (the "Purchase Price") plus the assumption of $55 million in debt. Under the terms of the Arrangement, Vermilion has agreed to [Read more]
BlackPearl Announces Closing of $70 Million Bought Deal Equity Offering
CALGARY, ALBERTA--(Marketwired - March 18, 2014) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(OMX:PXXS) is pleased to announce that it has closed its previously announced bought deal offering of 26,500,000 common shares of BlackPearl at $2.65 per share for aggregate gross proceeds of $70,225,000. The syndicate of underwriters was led by FirstEnergy Capital Corp. The Company intends to use the net proceeds from the offering to fund ongoing capital expenditures, [Read more]
Petitions calls for ban on oil, gas drilling in southern Alberta city
EDMONTON - A group has delivered to the Alberta legislature petitions with more than 11,00 signatures from residents who are opposed to oil and gas exploration in their city.Sheila Rogers with "No Drilling Lethbridge" gave the petitions to the city's MLA, Greg Weadick, on Monday.Rogers said the group had a massive response to its petition, which calls on the province to prohibit oil and gas drilling within the city.GoldenKey Oil has secured mineral rights from Alberta Energy in an undeveloped [Read more]
SilverWillow Energy Corporation announces review of strategic alternatives to enhance shareholder value
CALGARY, March 17, 2014 /CNW/ - SilverWillow Energy Corporation ("SilverWillow" or the "Corporation") today announces that its Board of Directors has commenced a process to consider strategic and financial alternatives available to the Corporation with the objective of enhancing shareholder value. Strategic and financial alternatives may include, but are not limited to, the sale of the Corporation, merger or other business combination, additional financing, sale of all or a portion of the [Read more]
Raging River Exploration Inc. Announces Fourth Quarter & Year End 2013 Operating and Financial Results, Viking Farm-In and Increased Guidance
CALGARY, ALBERTA--(Marketwired - March 17, 2014) - Raging River Exploration Inc. (the "Company" or "Raging River") (TSX:RRX) announces its operating and financial results for the three month and year ended December 31, 2013. Selected financial and operational information is outlined below and should be read in conjunction with the audited financial statements and the related management, discussion and analysis ("MD&A"). Also, the Company today announces the filing of its Annual Information [Read more]
Toscana Energy Announces Fiscal Year 2013 Financial and Operating Results and 2013 Reserves
CALGARY, March 17, 2014 /CNW/ - Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX: TEI) announces financial and operating results for the year ended December 31, 2013, and the Corporation's 2013 year-end reserves. Financial and operating results: The following summarizes information contained in the Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2013. This news release should not be considered a [Read more]
Baytex Announces Management Appointments
CALGARY, ALBERTA--(Marketwired - March 17, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announces that after eight years of service, W. Derek Aylesworth, the company's Chief Financial Officer, has advised that he intends to retire in June 2014. The Board of Directors are pleased to announce the hiring of Mr. Rodney D. Gray to succeed Mr. Aylesworth upon his retirement. Mr. Gray will join Baytex in April 2014. Mr. Gray joins Baytex with over twenty years' experience in the oil [Read more]
Tourmaline Oil Corp. Achieves Record Cash Flow and Earnings Growth in 2013
CALGARY, ALBERTA--(Marketwired - March 17, 2014) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") achieved exceptional growth in reserves (41%), production (47%) and cash flow(1) (88%) in 2013 while delivering strong profitability. The Company posted significant after-tax earnings of $148.1 million for the 2013 fiscal year. Highlights Record full year after tax earnings of $148.1 million ($0.79 per diluted share), an 854% increase over 2012, and record quarterly after tax [Read more]
Ivanhoe Suspends Activity on Tamarack Project Pending Regulatory Clarity
CALGARY, March 17, 2014 /CNW/ - Ivanhoe Energy Inc. (TSX: IE; NASDAQ: IVAN) announced today that following a thorough review the Company has suspended activity on its current Tamarack oil sands project. Ivanhoe's decision is based on the uncertainty that there is no timeline defined by the Alberta Energy Regulator (AER) for a new regulatory framework for shallow SAGD projects, and that there is no clarity as to a path for approval for its Tamarack application. Until there is greater regulatory [Read more]