CALGARY, ALBERTA--(Marketwired - Feb. 13, 2014) - Encana Corporation (TSX:ECA)(NYSE:ECA) concluded 2013 by meeting or exceeding guidance on all of its key operating and financial metrics during a year in which it announced a new President & CEO and launched a bold change in its strategy. Solid results have already been achieved on primary themes of the strategy announced by the company in the fourth quarter, including significant year-over-year increases in liquids production and ending the [Read more]
News
Cenovus oil sands production increases 14% in 2013
Proved bitumen reserves up 8% Combined oil sands production at Foster Creek and Christina Lake averaged almost 103,000 barrels per day (bbls/d) net in 2013, up 14% from 2012. Production at Christina Lake increased 55% to more than 49,000 bbls/d net in 2013. Christina Lake phase D reached full capacity in 2013, about six months after first production. Phase E is expected to achieve full capacity in the first quarter of 2014. Foster Creek production averaged more than 53,000 bbls/d net in [Read more]
Northern Spirit Resources Inc. Announces Year End Corporate Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 12, 2014) - Northern Spirit Resources Inc. ("Northern Spirit" or the "Company") (TSX VENTURE:NS) is pleased to announce the results of its independent reserve evaluation for the year ended December 31, 2013 as prepared by Deloitte LLP ("Deloitte"). The Company's annual audit of its financial statements is not yet complete and accordingly all financial amounts referred to in this press release are estimates and are subject to revision. Complete reserves [Read more]
Peyto Production Reaches 75,000 boe/d in 2013, Reserves Top 467 Million BOEs
CALGARY, ALBERTA--(Marketwired - Feb. 12, 2014) - Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX:PEY) is pleased to present the results and analysis of the independent reserve report effective December 31, 2013. The evaluation encompassed 100% of Peyto's reserve assets and was conducted by InSite Petroleum Consultants ("InSite"). This year marks the company's 15th year of profitable reserves development and the largest organic capital program in Peyto's history. [Read more]
U.S. rail group: Let’s go farther on safety
WASHINGTON - It's only been a few weeks since Canadian policy-makers announced safety changes to rail cars, but elements within the industry already want to go further. An industry association in the U.S. is recommending all new oil-carrying train cars be equipped with a thicker, puncture-proof metal shell, taller shields on each end and thermal insulation. The request comes in a letter today to the U.S. transportation secretary from the Railway Supply Institute, the main group [Read more]
Birchcliff Energy Ltd. Announces Production Gains, Unaudited Year-End Financial Results and Material Reserves and Resource Additions
CALGARY, ALBERTA--(Marketwired - Feb. 12, 2014) - Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) is pleased to announce its 2013 fourth quarter and 2013 year-end unaudited financial and operational results; provide highlights from its 2013 independent Reserves Evaluation and from its 2013 independent Montney/Doig Natural Gas Resource Assessment; announce its 2014 capital budget and provide an operational update. All financial amounts referred to in this press release are management's best [Read more]
Rio Tinto sells land options to LNG Canada
LONDON - Mining giant Rio Tinto has entered into an option agreement with joint venture company LNG Canada to lease or sell a wharf and land at the Kitimat, B.C., port where LNG plans to build a natural gas liquefaction plant and export terminal. Financial details were not disclosed. LNG Canada is a joint venture comprised by Shell Canada Energy, China's Phoenix Energy Holdings Ltd., Korean affiliate Kogas Canada LNG Ltd. and Diamond LNG Canada Ltd., an affiliate of Mitsubishi Corp. Rio [Read more]
Husky selling Atlantic crude to India
CALGARY - Husky Energy Inc. (TSX:HSE) has tapped into a new booming energy market, selling one million barrels of crude from its White Rose field offshore in Newfoundland and Labrador to Indian Oil Corp. during the fourth quarter.Chief operating officer Rob Peabody told a conference call with analysts and reporters that it was India's first purchase of Canadian crude.He says the light oil from White Rose has been approved for use in Indian refineries.CEO Asim Ghosh added that the sale opens up a [Read more]
Time to look past Obama, Prentice says
OTTAWA - A former top Conservative cabinet minister says it's time for Canada to look beyond the Obama era if it wants to push economic integration with the United States to a new level. Jim Prentice says that includes pushing for approval of the Keystone XL pipeline, which has been stalled by the logjam of U.S. domestic politics — something he says probably won't change in the next three years. Prentice says new gas discoveries in both countries have transformed North America's economic [Read more]
Oil and Natural Gas Industry Supports Budget Measures for Improved Access to Skilled Trades Training and Building Future Workforce
CALGARY, ALBERTA--(Marketwired - Feb. 12, 2014) - Canada's oil and natural gas industry supports federal budget measures announced yesterday to foster growth and development of Canada's future skilled trades workforce, the Canadian Association of Petroleum Producers said today. "Our industry is the largest employer of skilled trades workers in Canada so we strongly support government measures to promote careers in this sector," said Dave Collyer, CAPP president. "Meeting the labour [Read more]