Working gas in storage was 1,687 Bcf as of Friday, March 29, 2013, according to EIA estimates. This represents a net change of -94 Bcf beating analyst estimates of ~-90 Bcf. Stocks were 779 Bcf less than last year at this time and 37 Bcf below the 5-year average of 1,724 Bcf. [table] [attr style="width: 25%"]`[attr style="width: 25%"]March 29`[attr style="width: 25%"]March 22`[attr style="width: [Read more]
News
TSX sinks more than 2% on economic growth worries, threats from North Korea
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market tumbled about two per cent Wednesday, shedding all its year-to-date gains amid worries that the American economy is faltering and geopolitical concerns centred around threats from North Korea. The S&P/TSX composite index plunged 259.98 points to 12,422.12 in a selloff spread across most sectors in the wake of a report that had traders reconsidering their expectations for March job gains and other data pointing [Read more]
Surge Energy Inc. announces executive change
CALGARY , April 3, 2013 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (SGY.TO) announces that Mr. Malcolm Adams , Vice President Corporate Development , has decided to leave the Company and pursue other endeavours. The Company wishes Mr. Adams success in the future. Surge is an oil focused oil and gas company with operations throughout Alberta, Manitoba and North Dakota. Surge's common shares trade on the Toronto Stock Exchange under the symbol SGY and the Company currently has 71.2 [Read more]
Shell submits Kitimat LNG project plans to environmental review agencies
VICTORIA - Shell Canada Ltd. (TSX:SHC) has sent its plans to build a $4-billion pipeline and liquefied natural-gas export terminal at Kitimat in northwestern British Columbia to federal and provincial environmental regulatory agencies. Shell's plans, which are now among at least a half-dozen proposed B.C. LNG developments, include building a natural-gas pipeline from northeastern B.C. to Kitimat, where the liquefied gas will be loaded onto tankers and shipped to Asia. The LNG [Read more]
Alberta scientist claims link of crude oil to fish deformities
By Bruce Cheadle OTTAWA - There appear to be "remarkable similarities" between fish deformities found downstream from Alberta's oilsands and those observed after the Exxon Valdez oil spill in Alaska and after Florida's Deepwater Horizon disaster, says a renowned ecologist. David Schindler of the University of Alberta has written an open letter to two federal cabinet ministers pointing out the recent research findings from scientists as far afield as the Gulf of Mexico. "Given [Read more]
U.S. crude stocks build slightly above expectations
U.S. commercial crude oil inventories increased by 2.7 million barrels from the previous week, slightly above the expected build of ~2.3 million barrels. Total crude oil stocks of 388.6 million barrels are well above the upper limit of the average range for this time of year. Total commercial petroleum inventories decreased by 0.1 million barrels last week. [table] [attr style="width: 25%"]March 29`[attr style="width: 25%"]March 22`[attr style="width: 25%"]Change`[attr style="width: 25%"]% [Read more]
Lack of pipeline capacity costing Canadian oil producers billions: report
OTTAWA - A new report estimates Canada is losing billions of dollars in unrealized revenues because of its inability to efficiently get its oil to foreign markets. CIBC economists project that the country will continue to lose on average $15 billion a year from the price differential between world oil prices and what its producers get for shipments mostly to the United States. That represents about five per cent of gross domestic economies of Alberta and Saskatchewan. The [Read more]
Yoho Resources’ Current Production Approaches 3,700 boe Per Day, Acquires Incremental Duvernay Lands at Kaybob and Completes Land Swap at Nig
CALGARY, ALBERTA--(Marketwired - Apr 3, 2013) - Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) is pleased to provide an update of operations at Kaybob, Alberta and Nig, British Columbia. Kaybob, Alberta At Kaybob, Yoho's recently drilled Duvernay wells at Tony Creek at 14-21-62-21 W5 (75% working interest) and at 1-16-62-21 W5 (75% working interest) (press release February 4, 2013) along with the 13-22-62-21 W5 well (50% working interest) have been on-stream and producing [Read more]
Legacy Oil + Gas Inc. announces light oil corporate and asset acquisitions, increase to 2013 guidance and initiation of crude oil hedging program
CALGARY, April 3, 2013 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (TSX:LEG.TO) is pleased to announce the acquisition of light oil assets within the Company's core areas (the "Asset Acquisition") from a senior producer and the acquisition of Villanova Oil Corp. ("Villanova"), a Saskatchewan based private oil company, (together, the "Acquisitions"), an increase to Legacy's production guidance for 2013 and initiation of a crude oil hedging program. SUMMARY OF THE [Read more]
Alberta tabs oil veteran for regulatory role
EDMONTON – The Alberta government has chosen an oil industry veteran to head up a new board in charge of monitoring environmental rules. Gerry Protti has spent his career with numerous oil and gas companies and is the founder of the Canadian Association of Petroleum Producers. Protti was selected after a national search for someone to lead the Energy Regulatory Board that is to enforce rules on non-renewable resource development. His term is for five years. [Read more]