By Associated Press WASHINGTON — House Republicans pushed through a bill Wednesday to bypass the president to speed approval of the Keystone XL oil pipeline from Canada to Texas. Democrats criticized the legislation as a blatant attempt to allow a foreign company to avoid environmental review. The bill was approved, 241-175, largely along party lines. Republicans said the measure was needed to ensure that the long-delayed pipeline, first proposed in 2008, is built. “This is the most [Read more]
News
3MV Energy Announces Appointment of Interim CEO
CALGARY, May 22, 2013 /CNW/ - 3MV Energy Corp. ("3MV" or the "Company") (TSXV:TMV.V) announces that Dallas C. Duce, a director of 3MV, has been appointed interim Chief Executive Officer. Dallas C. Duce has been a director of 3MV since November 4, 2010. Mr. Duce is an electrical technologist and owns Duce Developments Ltd. in Estevan, Saskatchewan. He is also the former owner of Duce Oil, which was a private oil and gas exploration and production company based in Estevan, Saskatchewan that was [Read more]
Donnycreek Provides Operations Update
CALGARY, ALBERTA--(Marketwired - May 23, 2013) - THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it currently has 322 gross (226 net) sections of Montney lands in the greater Kakwa / Wapiti / Chicken area of Alberta and is producing approximately 640 boe/d (54% liquids) from two of its three Kakwa [Read more]
NuVista Energy Ltd. Provides Operational Update
CALGARY, ALBERTA--(Marketwired - May 22, 2013) -NuVista Energy Ltd. ("NuVista") (NVA.TO) is pleased to provide an update on recent Wapiti Montney well results and company production levels. Results from our latest wells illustrate the continued progression of reducing costs and improving well performance. Drilling program results continue to meet and, in some cases, exceed type curve. In particular, condensate yields have been exceeding expectations, driving better than expected [Read more]
Oil falls near $94 on small drop in supplies
(AP) The price of oil fell near $94 a barrel Wednesday as the nation’s oil supply fell less than expected and demand for gasoline remained weak. Benchmark crude for July delivery declined $1.90 to close at $94.28 a barrel on the New York Mercantile Exchange. The Energy Department said U.S. crude oil supplies declined by 300,000 barrels last week to 394.6 million barrels. Analysts expected a decrease of 1.2 million barrels. Gasoline supplies grew by 3 million barrels. At 220.7 million [Read more]
Arcan Appoints Terry McCoy as Permanent CEO; Promotes Mark Smith to COO
CALGARY, ALBERTA--(Marketwired - May 22, 2013) -Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Corporation") is pleased to announce two key executive appointments. Arcan's board of directors has appointed J. Terry McCoy to chief executive officer ("CEO") of the Corporation. Mr. McCoy, who is also an Arcan director, has been acting as interim CEO since August 2012. As well, Mark Smith has been promoted to chief operating officer ("COO") of the Corporation. These changes are effective [Read more]
PetroBakken Energy Ltd. Changes Name to Lightstream Resources Ltd. and Announces Voting Results from Shareholder Meeting
CALGARY, ALBERTA--(Marketwired - May 22, 2013) -PetroBakken Energy Ltd. (PBN.TO) ("PetroBakken" or "the Company") announces that our shareholders have approved our name change to Lightstream Resources Ltd., which will be made effective immediately. In conjunction with our name change our stock symbol is replaced with "LTS" on the Toronto Stock Exchange. This change will be effective in 2-3 business days. Over the last several years, our asset base has grown to include a diverse portfolio of [Read more]
Whitecap Resources Inc. closes previously announced Dodsland Viking light oil acquisition
CALGARY , May 22, 2013 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (WCP.TO) is pleased to announce successful completion of the acquisition of an existing Viking light oil waterflood asset in the Dodsland area of west central Saskatchewan as previously detailed in our April 29, 2013 press release. The acquisition adds 900 boe/d (95 percent light oil) of high netback, operated production with a low base decline of 20 percent. Total consideration for the acquisition was $110 [Read more]
Arsenal Energy Inc. Announces Increased Credit Facility
CALGARY, ALBERTA--(Marketwired - May 22, 2013) -Arsenal Energy Inc. ("Arsenal" or the "Company") (AEI.TO)(AEYIF) is pleased to announce that as a result of its year end reserve evaluation and Q1, 2013 activity, Arsenal's banking syndicate has increased its credit facility from $85 to $90 million effective immediately. Arsenal is currently $63.9 million drawn on the facility. The Company's next review date is scheduled for Nov 30, 2013. Arsenal has a capital management policy targeting the [Read more]
Republicans aim to take Keystone XL decision out of Obama’s hands
By Lee-Anne Goodman, The Canadian Press WASHINGTON - The American political brawl over TransCanada's proposed Keystone XL pipeline is shifting into overdrive as Republicans in the House of Representatives make yet another attempt to take the decision out of U.S. President Barack Obama's hands. The Northern Route Approval Act was expected to pass the House easily, although it faces a far less certain future in the Democrat-controlled U.S. Senate. The bill would allow for congressional [Read more]