TORONTO - The National Energy Board is set to release a decision today on whether it will allow energy delivery giant Enbridge to reverse the flow and increase the capacity of a pipeline that's been pumping oil between southern Ontario and Montreal for years. The decision on the controversial Line 9 is being delivered some four months after the federal regulator held public hearings on the Calgary-based company's (TSX:ENB) proposal. During those sessions, a three-member panel heard from a [Read more]
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Bellatrix Exploration announces material reserves increases (up 103%), posting $9.57/boe finding and development costs
CALGARY, March 6, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") announces the results of an independent reserve evaluation effective December 31, 2013. The report was completed by Sproule Associates Limited ("Sproule"). The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Bellatrix benefitted from the largest capital program [Read more]
Perpetual Energy Inc. releases fourth quarter and year-end 2013 financial and operating results
CALGARY, March 5, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual" or the "Corporation") is pleased to report its fourth quarter and year end 2013 financial and operating results. Overall results show significant gains from 2012, highlighting positive operational and financial momentum in our key diversifying strategies at Mannville for heavy oil and in the Greater Edson area for liquids-rich natural gas. A complete copy of Perpetual's audited consolidated financial statements and [Read more]
Artek Exploration Ltd. Reports Significant 2013 Reserves Growth
CALGARY, ALBERTA--(Marketwired - March 5, 2014) - Artek Exploration Ltd. (TSX:RTK) of Calgary, Alberta ("Artek" or the "Company") is pleased to provide an operational update and announce the results of its independent reserve evaluation for the year ended December 31, 2013 (the "Sproule Report") as prepared by Sproule Associates Limited ("Sproule"). 2013 HIGHLIGHTS Increased Proved plus Probable reserves year over year by 43% to 42.5 million boe from 29.6 million boe and also increased [Read more]
Industry Minister approves $1.5B sale of Talisman’s Montney gas holdings
OTTAWA - Federal Industry Minister James Moore has given the green light to a deal under which a subsidiary of Malaysia's Petronas will acquire the Montney gas holdings of Talisman Energy Inc. (TSX:TLM) for $1.5 billion. The properties in the Farrell Creek and Cypress areas of British Columbia are being sold to Progress Energy Canada Ltd., which Petronas acquired in 2012. "I can confirm that I have approved Progress Energy Canada Ltd.'s application to acquire control of natural gas assets [Read more]
Industry Minister Moore approved $1.5B sale of Talisman’s Montney gas holdings
OTTAWA - Federal Industry Minister James Moore has given the green light to a deal under which a subsidiary of Malaysia's Petronas will acquire the Montney gas holdings of Talisman Energy Inc. (TSX:TLM) for $1.5 billion.The properties in the Farrell Creek and Cypress areas of British Columbia are being sold to Progress Energy Canada Ltd., which Petronas acquired in 2012."I can confirm that I have approved Progress Energy Canada Ltd.'s application to acquire control of natural gas assets from [Read more]
Long Run Exploration Ltd. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2013 and 2013 Year End Reserve Results
CALGARY, ALBERTA--(Marketwired - March 5, 2014) - LONG RUN EXPLORATION LTD. (TSX:LRE) ("Long Run" or the "Company") is pleased to announce its financial results for the fourth quarter and year ended December 31, 2013 and year end reserve results. 2013 HIGHLIGHTS Long Run's funds flow from operations for 2013 was approximately $230 million ($1.83 per share, diluted), an increase of 78 percent over 2012. Production averaged 25,094 boe per day for 2013, weighted approximately 53 percent to [Read more]
Legacy Oil + Gas Inc. announces over 20% increase in 2013 year-end reserves and net asset value per share, top quartile recycle ratios and provides operational update
CALGARY, March 5, 2014 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (TSX: LEG) is pleased to announce its 2013 year-end reserves and provide an operational update. The financial and operational information contained below is based on the Company's unaudited expected results for the year ended December 31, 2013. HIGHLIGHTS 2013 net asset value per share grew by 20 percent over 2012 to $11.71 per share 2013 total proved plus probable finding and development costs ("F&D") [Read more]
Wrangler West Energy Corp. Announces Completion of Acquisition by Trident Exploration Corp.
CALGARY, ALBERTA--(Marketwired - March 5, 2014) - Wrangler West Energy Corp. (TSX VENTURE:WX) ("Wrangler" or the "Company") announces the completion of its previously announced acquisition by Trident Exploration Corp. ("Trident") through the amalgamation of 981443 Alberta Ltd. ("981443"), a wholly-owned subsidiary of Trident, with Wrangler under the Business Corporations Act (Alberta) (the "Amalgamation") to form Trident Exploration (WX) Corp. ("Amalco"). As a result of the Amalgamation, and [Read more]
Peyto Celebrates 15 Years With Year End 2013 Report to Shareholders
CALGARY, ALBERTA--(Marketwired - March 5, 2014) - Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto" or the "Company") is pleased to report operating and financial results for the fourth quarter and the 2013 fiscal year which culminate 15 years of success in the Canadian Energy Industry. Peyto set new production and reserves per share records in 2013 while delivering a 76% operating margin1 and a 25% profit margin2. A 10% return on capital and a 12% return on equity were achieved in [Read more]