HOUSTON - America's plan to use more natural gas to run power plants, make chemicals, drive vehicles and heat homes may not go as smoothly as expected.There's plenty of natural gas in the ground, everyone seems to agree. But the harsh weather this winter shows there are obstacles to producing it, and more pipelines have to be built.The bitter temperatures boosted demand for natural gas to heat homes and businesses. But wells in some places literally froze, making it difficult for some drillers [Read more]
News
CNRL pulls application to resume steaming near site of Primrose bitumen leak
CALGARY - Canadian Natural Resources Ltd. has pulled its application to resume steaming near the site of an ongoing bitumen spill in eastern Alberta. The Alberta Energy Regulator told CNRL on Friday its application would be denied, after which the company withdrew it. AER spokesman Bob Curran says it would have been inappropriate to allow that work to resume while an investigation into the root cause of the months-long leak was still ongoing. The energy watchdog is weighing a separate [Read more]
Official: Canadian oil won’t hurt North Dakota production
BISMARCK, N.D. — The director of the North Dakota Pipeline Authority says proposed increases of crude from Canada’s oil sands likely won’t have an impact on the state’s soaring oil production. Justin Kringstad says “both Alberta and North Dakota are growing sources of crude and both are looking at how to move that oil to market.” Calgary-based Enbridge has announced a $7 billion plan to increase the capacity of a crude oil pipeline that runs from Canada to Wisconsin. That project is in [Read more]
Vermilion Energy Inc. Announces Board of Directors Appointment
CALGARY, March 10, 2014 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We" or "Our") (TSX: VET) (NYSE: VET) is pleased to announce that our Board of Directors has approved the appointment of Ms. Sarah Raiss to our Board of Directors and to Vermilion's Governance and Human Resources Committee. From 2000 to 2011, Ms. Raiss was Executive Vice President for TransCanada Corporation where she was responsible for a broad portfolio including organizational excellence, enhancing corporate culture, human [Read more]
DeeThree Exploration Organically Grows Year End Reserves by 95% and Affirms 2014 Guidance
CALGARY, ALBERTA--(Marketwired - March 10, 2014) - DEETHREE EXPLORATION LTD. ("DeeThree" or the "Company") (TSX:DTX)(OTCQX:DTHRF) is pleased to report its 2013 year end oil and gas reserves. At December 31, 2013 DeeThree has increased its proved plus probable reserves by 95% to 39.4 mmboe as compared to the prior year. DeeThree's reserve additions were predominately a result of the successful 2013 drilling program in the Company's two core properties being the Belly River property in the Brazeau [Read more]
Husky Energy’s Reserves Increase Along With Production Growth
CALGARY, ALBERTA--(Marketwired - March 10, 2014) - Highlights: Average proved three-year reserves replacement ratio of 172 percent, excluding economic factors 1.3 billion barrels of oil equivalent (boe) total proved reserves before royalties Proved reserves life index of 11.1 years, up from 10.3 in 2011 and 10.8 in 2012 Husky Energy's (TSX:HSE) reserves growth outpaced its production in 2013 as a result of the addition of reserves in its Oil Sands business, the full-scale [Read more]
Oil prices fall below $102 after data from China, Japan showed weak trade, growth concerns
The price of oil fell below $102 on Monday after a surprise drop in China's exports and weaker economic growth in Japan suggested demand for crude could weaken.Benchmark U.S. crude for April delivery was down $1.18 to $101.40 per barrel at 0810 GMT in electronic trading on the New York Mercantile Exchange. On Friday, the contract rose $1.02 to close at $102.58 after strong U.S. employment figures for February. Brent crude, used to set prices for international varieties of crude, was down 90 [Read more]
Oilsands giant CNRL faces Alberta charges over hydrogen sulphide gas release
FORT MCMURRAY, Alta. - Canadian Natural Resources Ltd. is facing 11 environmental charges over the release of a potentially deadly gas near an aboriginal community in northern Alberta.The Alberta government said the charges stem from the release of hydrogen sulphide gas on August 2012 from the CNRL Horizon oilsands upgrader facility north of Fort McMurray.The province said it learned of the leaks after getting complaints from the Fort McKay First Nation and reports from air monitoring [Read more]
Harvest Announces 2013 Year End Results and Reserves Information
CALGARY, ALBERTA--(Marketwired - March 7, 2014) - Harvest Operations Corp. (Harvest or the Company) announces its financial and operating results for the fourth quarter and full year ended December 31, 2013. This press release is an overview of the quarterly and full year results for 2013 and should be read with the audited consolidated financial statements and Management's Discussion and Analysis (MD&A) for the year ended December 31, 2013 available on the System for Electronic Document [Read more]
Paramount Resources Ltd. Receives Shares of Marquee Energy Ltd. in Consideration for Non-Core Assets Sold to Marquee
CALGARY, ALBERTA--(Marketwired - March 7, 2014) - Paramount Resources Ltd. ("Paramount") (TSX:POU) announces that it has acquired ownership and control of 13,705,883 common shares of Marquee Energy Ltd. ("Marquee") issued from treasury at a deemed price of $0.85 per share, representing approximately 14% of Marquee's outstanding common shares after such issuance. Paramount acquired such shares as consideration for certain non-core assets sold to Marquee by Paramount (the "Sale Transaction"). The [Read more]