CALGARY, ALBERTA--(Marketwired - Jan. 9, 2014) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") announces the completion of its process of exploring options to monetize or joint venture a portion of its Montney acreage in the liquids rich fairway of Northeast British Columbia. As part of the review process, third party evaluators established contingent resources of approximately 6.7 TCFe on the relevant acreage. Canadian Natural received a number of [Read more]
News
Surge forecasts more than 40 percent production growth and more than 65 percent growth in FFO for 2014
CALGARY, Jan. 8, 2014 /CNW/ - The Board of Directors of Surge Energy Inc. ("Surge" or the "Company") ("SGY": TSX) has approved the Company's 2014 capital expenditure program. In 2014 Surge will spend a budgeted $114.5 million, and deliver the following: Growth in annual production of more than 40% over 2013; in 2014 Surge is targeting record annual production of 15,250 boepd (15,500 boepd exit rate); A production mix of over 83% light and medium gravity crude oil; Growth in annual [Read more]
Latest derailment and fire fans safety concerns posed by oil by rail
OTTAWA - Yet another railway fire involving crude oil has prompted the chief executive officer of CN Rail to suggest that long-overdue regulatory changes to the tank cars used to transport dangerous goods will be introduced soon.What is being called a controlled burn had been raging for more than 18 hours in northwestern New Brunswick late Wednesday after 17 cars on a CN train — some carrying propane, others crude oil — derailed and caught fire.It is the fifth significant railway accident in [Read more]
ARC Resources Ltd. achieves record production levels
CALGARY, Jan. 8, 2014 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") announced today that it estimates fourth quarter production to be approximately 100,000 boe per day. This is record quarterly production volumes for ARC and is expected to contribute to record annual production of approximately 96,000 boe per day; meeting ARC's production guidance announced with its 2013 budget. ARC's strong production performance is a significant achievement given the divestment of approximately 1,700 boe per [Read more]
Long Run Exploration Ltd. Announces $75 Million Bought Deal Convertible Debenture Offering
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2014) - Long Run Exploration Ltd. (TSX:LRE) ("Long Run" or the "Company") is pleased to announce that it has entered into an agreement to sell, on a bought deal basis to a syndicate of underwriters co-led by National Bank Financial Inc. and Scotia Capital Inc., $75 million aggregate principal amount of 6.40% convertible unsecured subordinated debentures, due January 31, 2019 (the "Debentures") at a price of $1,000 per Debenture (the "Offering"). The [Read more]
European Union makes carbon emitting more expensive
BRUSSELS - It will become more expensive for businesses in the European Union to burn fossil fuels this year after the 28-country bloc decided Wednesday to beef up its carbon trading system. The agreement ended a year of bickering over how to amend what is Europe's prime tool in the fight against climate change and the world's biggest emission trading system. Under the cap-and-trade scheme, companies pay per ton of carbon dioxide they release into the atmosphere, with the pollution [Read more]
Keyera to Expand C3+ Fractionation Capacity at Fort Saskatchewan
CALGARY, Jan. 8, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it is proceeding with an expansion at its NGL fractionation and storage facility in Fort Saskatchewan ("KFS"). The project will involve more than doubling the facility's existing C3+ fractionation capacity from 30,000 barrels per day to 65,000 barrels per day. In conjunction with the fractionator, the project will include the construction of new product receipt facilities, operational storage and pipeline [Read more]
Inter Pipeline Announces Appointment of New Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2014) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) is pleased to announce that Brent Heagy has been appointed Chief Financial Officer effective March 1, 2014. Mr. Heagy will replace Bill van Yzerloo, whose planned retirement was disclosed earlier in 2013. Mr. Heagy joins Inter Pipeline from Athabasca Oil Corporation where he served as Chief Financial Officer. In a career spanning more than 30 years, Mr. Heagy has extensive experience in the [Read more]
Manitok Energy Inc. Achieves New Monthly Average Production Record of 5,550 boe/d in December 2013
CALGARY, ALBERTA--(Marketwired - Jan. 8, 2014) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to provide an update on its latest operations. Production Based on field estimates, Manitok's production averaged 5,550 boe/d (58% oil and liquids) over the month of December 2013, which is a record high production month for the Corporation and exceeds Manitok's previously provided 2013 exit guidance of 5,300 - 5,500 boe/d. The [Read more]
Athabasca Oil Corporation Announces Management Change
CALGARY, Jan. 8, 2014 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") announces that Kim Anderson has accepted an appointment to become the Company's Chief Financial Officer, replacing Brent Heagy who has chosen to leave the Company to pursue an opportunity as a CFO with Inter Pipeline Ltd. Mr. Heagy will be staying with the Company until mid-February in order to ensure a smooth transition of his responsibilities. Ms. Anderson and Mr. Heagy have previously worked [Read more]