CALGARY, ALBERTA--(Marketwired - May 29, 2013) - MGM Energy Corp. ("MGM Energy" or the "Company") (TSX:MGX) announced today that it has surrendered to the Crown its exploration licences ("EL") in the Mackenzie Delta region. Effective May 29, 2013, MGM Energy has surrendered to the Crown EL456, EL457, EL458 and EL459, currently scheduled to expire in January 2016, and consolidated EL461, which is scheduled to expire in June 2013. With the surrender, MGM Energy is relieved of its obligation to [Read more]
News
Canadian Natural Resources Limited Provides Update on Horizon Turnaround
CALGARY, ALBERTA--(Marketwired - May 29, 2013) - Canadian Natural (TSX:CNQ) (NYSE:CNQ) has completed the turnaround at Horizon. The turnaround went well with no major changes to the scope. Change out of the catalysts in the hydro-treating units and repairs to some equipment extended slightly beyond the original forecasted timeframe. The sequential start-up of the operation began on the weekend with full production to resume shortly. Certain information regarding the Company contained herein [Read more]
Strategic Oil & Gas Ltd. Announces First Quarter 2013 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - May 29, 2013) - Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Company") reports financial and operating results for the three months ended March 31, 2013. The Company grew production despite operational difficulties and downtime associated with ongoing facility upgrades. Strategic's first quarter capital spending activities set the stage for future growth. Detailed results are presented in Strategic's unaudited condensed consolidated [Read more]
Quebec coalition of business and union groups supports Enbridge’s Line 9 project
MONTREAL - A coalition of business and union groups have come together in support of Enbridge's Line 9 reversal project, which they say will maintain almost 2,000 jobs in the province's petrochemical industry. The coalition said Wednesday the Line 9 reversal project will allow Quebec to become less dependent on oil from outside North America. Enbridge (TSX:ENB) is planning to reverse a stretch of its Line 9 pipeline that currently runs from Montreal to Westover, Ont., and [Read more]
Second Wave goes private
CALGARY - Second Wave Petroleum Inc. (TSX:SCS) says it has accepted a deal to be taken private by its controlling shareholder, Brookfield Bridge Lending Fund.Under terms of the definitive agreement announced Wednesday, Brookfield Bridge will pay 30 cents for each of the shares it doesn't already own.The deal amounts to a premium of 131 per cent over the stock's closing price on May 3, the last trading day before the offer was made. The company has just over 84.1 million shares.On the Toronto [Read more]
Second Wave Petroleum Inc. Announces Definitive Agreement for Going Private Transaction
CALGARY, May 29, 2013 /CNW/ - Second Wave Petroleum Inc. (TSX:SCS) ("Second Wave" or the "Company") announces that it has entered into a definitive agreement (the "Arrangement Agreement") with Brookfield Bridge Lending Fund Inc. ("Brookfield"), the Company's controlling shareholder, to effect the previously-announced going private transaction at a cash price of $0.30 per share. The Arrangement Agreement provides for the purchase by Brookfield, through a wholly-owned subsidiary, of all of the [Read more]
Total to pay $245 million in bribe case
The French oil giant Total has agreed to pay $242.5 million to settle criminal charges alleging the company paid bribes to win lucrative contracts in Iran. Court papers indicate Total paid $60 million in bribes between 1995 and 2004 that allowed it to re-enter the Iranian oil and gas market. The case was jointly pursued by the U.S. and French governments. French authorities said Wednesday they have requested the company and its CEO face criminal charges there for violating [Read more]
US crude oil falls below $94 due to ample supplies, weak demand
BANGKOK - The price of oil fell below US$95 a barrel Wednesday, parting ways with rising stock markets, as ample supplies keep buying appetite in check.Benchmark oil for July delivery was down below $94 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.Positive signs for the U.S. economy helped oil prices break a falling streak on Tuesday. U.S. home prices rose the most in seven years and consumer confidence reached a five-year high. The [Read more]
West Coast Project to Show Way for LNG Use in Canada’s Marine Sector
OTTAWA, May 29, 2013 /CNW/ - A joint industry project focused on the use of liquefied natural gas (LNG) on the West Coast aims to identify and address barriers for LNG as a marine fuel in Canada. The estimated $1.2 million project involves 17 participating organizations including Port Metro Vancouver, BC Ferries, Seaspan, and the British Columbia Institute of Technology along with marine classification societies, technology and services providers, standards development groups, federal and [Read more]
Anterra Energy Announces Corporate Update and First Quarter Financial Results
CALGARY, ALBERTA--(Marketwired - May 29, 2013) - Anterra Energy Inc. (TSX VENTURE:AE.A) ("Anterra" or the "Company") today released its financial results for the three months ended March 31, 2013. The full text of the Company's consolidated financial report and related management's discussion and analysis ("MD&A") can be found at www.sedar.com and on the Company's website at www.anterraenergy.com. CORPORATE UPDATE: Banking: Effective May 6, 2013, the Company's lender increased the [Read more]