The price of oil crept up to near US$102 a barrel Friday after a solid increase in U.S. employment and a decline in the American dollar. Benchmark West Texas Intermediate crude for April delivery rose $1.02 to close at US$102.58 a barrel on the New York Mercantile Exchange. After a swing in prices earlier in the week due to the situation in Ukraine, oil ended the week with a loss of one cent. Brent crude, used to set prices for international varieties of crude, gained 90 cents to US$109 a [Read more]
News
Syncrude Appoints Chief Executive Officer
CALGARY, ALBERTA--(Marketwired - March 7, 2014) - Canadian Oil Sands ("COS") (TSX:COS)(OTCQX:COSWF) today disclosed the appointment of Mr. Mark Ward to the position of Chief Executive Officer of Syncrude Canada Ltd. ("Syncrude") effective April 1, 2014. Mr. Ward will have the lead role in working with Syncrude's joint venture owners and stakeholders to advance the strategic vision for the development of the resource. Mr. Ward was most recently the Lead Country Manager Nigeria and Manager [Read more]
Panel report gives proposed Nova Scotia LNG plant conditional approval
HALIFAX - An environmental panel has given conditional approval to a proposed liquefied natural gas plant on Nova Scotia's east coast. The panel says the plant planned for Goldboro by Calgary-based Pieridae Energy Canada can proceed. The panel assessed a number of environmental and socio-economic factors including the effects on groundwater and air quality, local marine and terrestrial habitat, the fishery, property values and employment. The report says the project would increase the [Read more]
Ironhorse Announces Nisku L2L Oil Production
CALGARY, March 7, 2014 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) is pleased to announce the results of its Pembina Nisku L2L pool development and initiation production startup. Ironhorse with partners Sinopec and Grizzly Resources Ltd. have initiated the first production in the Nisku L2L pool from the 100/09-05-050-06W5M/00 well which commenced March 5, 2014. Initial gross production rates of 300 -1000 bopd are anticipated as production is ramped up over [Read more]
Chevron pizza offer fails to register as scandal in Pennsylvania town where gas well exploded
BOBTOWN, Pa. - Critics are raging after an energy giant offered pizza coupons to a community near a natural gas well that exploded last month, killing a worker. News stories, TV shows and blogs — many sarcastic or outright scornful — spread the word far and wide. "Shame on you," one person wrote about the offer by Chevron Corp. "How insulting!" said another. Comedy Central's satirical "The Colbert Report" skewered it. But the 750 or so residents of the hamlet of Bobtown? Not one has signed [Read more]
Progress Energy Canada and Pacific NorthWest LNG welcome third partner to British Columbia LNG export project
Growing Asian investment fuels momentum for Canadian-led LNG export sector CALGARY, March 7, 2014 /CNW/ - Progress Energy Canada Ltd. (Progress Energy), Pacific NorthWest LNG Ltd. (PNW LNG) and Petroliam Nasional Berhad (PETRONAS) have signed transaction agreements whereby Indian Oil Corporation Ltd., through its affiliates, will acquire a 10 percent interest in Progress Energy's LNG-destined natural gas reserves in northeast British Columbia and in the proposed PNW LNG export facility on [Read more]
Crew Energy Inc. Announces Fourth Quarter 2013 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - March 7, 2014) - Crew Energy Inc. ("Crew" or the "Company") (TSX:CR) of Calgary, Alberta is pleased to present its operating and financial results for the three month period and year ended December 31, 2013. Highlights Funds from operations in the fourth quarter increased 14% over the prior quarter to $48.1 million or $0.40 per share; Fourth quarter production averaged 28,682 boe per day which was a 6% increase over the same quarter in 2012 and 2% higher [Read more]
Penn West Announces its Financial Results for the Fourth Quarter and Year Ended December 31, 2013 and 2013 Reserve Results
CALGARY, March 7, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT) (NYSE - PWE) ("PENN WEST" or the "COMPANY") is pleased to announce its results for the fourth quarter and year ended December 31, 2013. All figures are in Canadian dollars unless otherwise stated. Three months ended December 31 Year ended December 31 2013 2012 % change 2013 2012 % change Financial (millions, except per share [Read more]
Oil rises on Ukraine crisis and hopes of better U.S. hiring
Oil prices rose Friday as the Ukraine crisis took a new twist and expectations rose for a solid increase in U.S. employment. Benchmark U.S. crude for April delivery was up 31 cents to US$101.87 per barrel at 2:20 a.m. ET in electronic trading on the New York Mercantile Exchange. On Thursday, the contract rose 11 cents to close at $101.56. Brent crude, used to set prices for international varieties of crude, was up 21 cents to $108.31 per barrel on the ICE exchange in London. The U.S. [Read more]
NuVista Energy Ltd. Announces Fourth Quarter and Year End 2013 Results
CALGARY, ALBERTA--(Marketwired - March 6, 2014) - NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce results for the three and twelve months ended December 31, 2013 and provide an update on its future business plans. 2013 was a turning point year for NuVista, and one where all of our key business and strategic targets were met or exceeded. We have: Transitioned the Bilbo (South) and Elmworth (North) sub-blocks of our Wapiti Montney play from delineation phase to full repeatable [Read more]