CALGARY, June 19, 2013 /CNW/ - Trinidad Drilling Ltd. ("Trinidad" or "the Company") is pleased to announce that it has entered in to an agreement to sell its coring and pre-set rigs to Alken Basin Drilling Ltd. (Alken) for $12 million in cash, excluding working capital and land and buildings. Trinidad has operated coring and pre-set rigs since 2005 in the oilsands of northern Canada in the winter and in southern Alberta in the summer. The reduction in pre-set work over the summer months and [Read more]
News
Jobs go west as Imperial Oil converts Nova Scotia refinery to terminal operation
HALIFAX - The Imperial Oil refinery in Halifax is being closed and converted to a terminal, in a move that deals the latest blow to Nova Scotia's manufacturing sector.The company said Wednesday it expects 80 of the 200 workers — ranging from engineers to mechanics — to either retire or stay at the terminal, while 120 others will be offered jobs at Imperial refineries and oil sands operations in Ontario and the West or at ExxonMobil's operations off Nova Scotia's coast.The refinery's [Read more]
US crude oil supplies grew by 300,000 barrels
NEW YORK (AP) -- The nation's crude oil supplies increased last week, the government said Wednesday. Crude supplies grew by 300,000 barrels, or 0.1 percent, to 394.1 million barrels, which is 1.8 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report. Analysts expected a drop of 1 million barrels for the week ended June 14, according to Platts, the energy information arm of McGraw-Hill Cos. Gasoline supplies grew by 200,000 [Read more]
Pine Cliff Energy Ltd. Completes $25,080,000 Common Share Offering and Enters Into a Definitive Agreement in Connection With the Monogram Acquisition
CALGARY, ALBERTA--(Marketwired - June 19, 2013) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES Pine Cliff Energy Ltd. ("Pine Cliff" or the "Corporation") (TSX VENTURE:PNE) is pleased to announce that it has closed its previously announced short form prospectus offering of 28,500,000 common shares (the "Common Shares") at a price of $0.88 per common share for gross proceeds of $25,080,000 (the "Offering"). The Offering was made pursuant to an [Read more]
Madalena Announces Flow-Through Financings For Gross Proceeds of Up To $6.0 Million
CALGARY, ALBERTA--(Marketwired - June 19, 2013) - THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. Madalena Ventures Inc. (the "Company" or "Madalena") (TSX VENTURE:MVN) is pleased to announce that it has entered into an agreement with Dundee Securities Ltd. ("Dundee") pursuant to which Dundee has agreed to purchase by way of private placement [Read more]
Imperial Oil to Convert Dartmouth Refinery to Terminal
Refinery marketing effort did not attract a buyer Conversion will begin in 2013 Care will be taken to meet the needs of customers and employees DARTMOUTH, NS, June 19, 2013 /CNW/ - Following a comprehensive evaluation of alternatives, Imperial Oil will continue to serve east coast Canadian markets by converting its Dartmouth refinery into a terminal operation. Despite interest in the refinery assets over the past year, Imperial was unable to attract a buyer to continue operating the [Read more]
Statoil makes another oil find offshore Newfoundland
ST. JOHN'S, Newfoundland and Labrador, June 19, 2013 /CNW/ - Statoil has made a discovery of light, high-quality oil in the Flemish Pass Basin, offshore Newfoundland. Oil was encountered while drilling the Harpoon prospect (EL 1112), located approximately 500 kilometres north-east of St. John's, Newfoundland and Labrador, Canada. "While it is still too early to determine Harpoon's resource potential at this time, this is very encouraging for the area and especially for the Bay du Nord well [Read more]
Shoreline Energy Corp. Announces Postponement of Seller Financing Payment
CALGARY, ALBERTA--(Marketwired - June 18, 2013) - Shoreline Energy Corp. (TSX: SEQ) ("Shoreline" or the "Company") announced today that repayment of the vendor take back note related to the purchase of the "Dios" Wattenberg Colorado assets, originally announced on February 19, 2013. The vendor take back note was originally scheduled to be paid on June 19th 2013, but has been delayed due to a post closing title deficiency. Shoreline has notified the vendor that the vendor has not performed its [Read more]
NO PIPELINE IS NOT AN OPTION: petroleum producers to Northern Gateway panel
TERRACE, B.C. - There is a growing imbalance between oil supply and delivery in Canada and doing nothing is not an option, the lawyer for the Canadian Association of Petroleum Producers told a federal panel weighing the Northern Gateway project.Keith Bergner told the review panel Tuesday that current pipeline capacity is not sufficient, and producers are finding themselves with product on their hands and no way to ship it to buyers — "shut-in" as it's known in the industry."Doing [Read more]
Cenovus to triple amount of crude moved by rail by end of next year
CALGARY - Cenovus Energy Inc. said Tuesday that it plans to massively increase the amount of oil it ships by rail by the end of 2014 as the fates of contentious pipeline projects remain undecided.The Calgary-based oil company (TSX:CVE) expects to move 30,000 barrels per day by rail by the end of 2014 — triple the 10,000 it's anticipating by the end of 2013."We expect that rail capacity will continue to play a growing role in transporting oil, particularly in the event that any of the [Read more]