The price of oil got a slight boost from positive U.S. economic data Thursday, while natural gas hit a nearly two-month low.Benchmark U.S. crude for April delivery rose 21 cents to US$98.20 a barrel on the New York Mercantile Exchange. On Wednesday, the Nymex contract fell $2.04 to close at US$97.99, its first close below $100 in a month.Brent crude, used to set prices for international varieties of crude, dropped 63 cents to US$107.39 on the ICE Futures exchange in London.In the U.S., retail [Read more]
News
Alberta Tory backbencher quits caucus; calls Redford a BULLY
EDMONTON - A Tory backbencher in Alberta has announced he is leaving Premier Alison Redford's caucus because he can no longer work with her. Len Webber told reporters in Calgary that Redford is disrespectful, a bully and — quote — "not a nice lady." Redford has been facing a backlash from a $45,000 trip to South Africa for Nelson Mandela's funeral. On Wednesday, after weeks of trying to weather the controversy, she said she had repaid the money. Webber had already announced his [Read more]
Former Obama adviser: If you reject Keystone XL, you ‘make Mr. Putin’s day’
WASHINGTON - President Barack Obama's former national security adviser says rejecting the Keystone XL pipeline would be a gift to Vladimir Putin.James Jones is testifying today at a Senate hearing on whether approving the pipeline is in the U.S. national interest.He says energy scarcity is a powerful geopolitical weapon — as evidenced now in Ukraine, and at various times in Iran and Venezuela.Naming the Russian leader personally, he says the world's bullies are watching the KXL debate, and [Read more]
The Dover Commercial Project Receives Order in Council Approval
CALGARY, March 13, 2014 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") is pleased to announce that Brion Energy Corporation ("Brion") has received approval by the Lieutenant Governor in Council for the Dover Commercial Project. The Dover Commercial Project received Order in Council approval from the Alberta cabinet on March 13, 2014. The project received conditional approval from the Alberta Energy Regulator on August 6, 2013. "The approval process has been long [Read more]
Baytex Reports Record Production and Funds from Operations and Strong Reserve Growth for 2013
CALGARY, ALBERTA--(Marketwired - March 13, 2014) - Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) ("Baytex") reports its operating and financial results for the three months and year ended December 31, 2013 (all amounts are in Canadian dollars unless otherwise noted). "2013 was an exceptional year as Baytex delivered its highest level of funds from operations and reached a record level of annual production while growing proved plus probable reserves by 9%, all in a challenging year for heavy oil [Read more]
Bellatrix Exploration Ltd. Announces Year End 2013 Financial Results
CALGARY, March 13, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) announces its financial and operating results for the year ended December 31, 2013. 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 "MD&A") [Read more]
MGM Energy Corp. Announces 2013 Financial Results and Provides Update on Independent Committee
CALGARY, ALBERTA--(Marketwired - March 12, 2014) - MGM Energy Corp. ("MGM Energy" or the "Company") (TSX:MGX) announced today its financial results for the year ended December 31, 2013. The Company reported a net loss for the year ended December 31, 2013 of $8.3 million ($0.02 per share) as compared to a net loss of $8.1 million ($0.03 per share) for the year ended December 31, 2012. MGM Energy's full audited financial statements and accompanying Management's Discussion and Analysis will be [Read more]
Saskatchewan passes motion to support Northern Gateway pipeline
REGINA - The Saskatchewan legislature has passed a motion supporting construction of the Northern Gateway pipeline, but the vote was not unanimous.The motion says there is an oil transportation bottleneck that is driving down the value of Saskatchewan oil. Premier Brad Wall says the pipeline may not carry Saskatchewan oil, but he claims it will benefit the province by helping to clear up the bottleneck."If we get Canadian oil to tidewater, like these pipelines will do, we'll increase the value [Read more]
Oil falls below US$98 on China economic slowdown jitters; higher US supplies
The price of oil dropped below US$98 a barrel Wednesday as the possibility of a deeper economic slowdown in China fed expectations of weaker demand and a report showed a rise in U.S. oil supplies.Benchmark West Texas Intermediate crude for April delivery fell $2.04, or two per cent, to close at US$97.99 a barrel on the New York Mercantile Exchange, the first close below $100 in a month.Brent crude, used to set prices for international varieties, dropped 53 cents to US$108.02 a barrel on the ICE [Read more]
Birchcliff Energy Ltd. Provides 2014 Q1 Production and Funds Flow Estimates, Operational Update and Announces Audited 2013 Financial Statements
CALGARY, ALBERTA--(Marketwired - March 12, 2014) - Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) is pleased to provide estimates of its 2014 first quarter production and funds flow, provide an operational update and announce its 2013 audited financial statements. The audited financial statements are consistent with the unaudited financial results announced in the press release issued by Birchcliff on February 12, 2014. The full text of the 2013 audited financial statements and the related [Read more]