Sonde Resources Corp. reports that it has retained FirstEnergy Capital Corp. ("FirstEnergy") to initiate a process to explore and evaluate potential strategic alternatives with regard to Sonde''s western Canadian production and exploratory acreage, with a view to enhancing shareholder value. In particular, the Company seeks alternatives that will reduce emphasis on legacy producing assets, and facilitate a focus on creating value from its large portfolio of exploratory acreage, which contains [Read more]
News
Fairborne Energy Ltd. Announces Change of Name to Santonia Energy Inc.
Fairborne Energy Ltd. announces that it has changed its name to Santonia Energy Inc. ("Santonia") effective January 9, 2013. The name change was approved by shareholders of the Corporation at the special meeting of shareholders of the Corporation held on January 8, 2013 (the "Special Meeting"). The Corporation expects that trading of its common shares on the Toronto Stock Exchange under its new name and trading symbol of "STE" will commence within two to three business days from today's [Read more]
Progress Energy picks TransCanada for $5-billion natural gas pipeline project
Progress Energy has awarded a $5-billion natural gas infrastructure project across northern British Columbia to TransCanada Corp., the Calgary-based pipeline company. TransCanada will design, build, own and operate the proposed Prince Rupert Gas Transmission project for Progress. It will also extend an existing transmission line to connect with the Prince Rupert line to serve Progress and other gas suppliers. The Prince Rupert transmission line will carry gas from the North [Read more]
Legacy Announces 2013 Budget and Public Guidance
Legacy Oil + Gas Inc. is pleased to announce its capital and operating budget and associated public guidance for 2013. Continued success in the Company's dominant position in the Spearfish play in southern Manitoba and North Dakota and in its conventional assets in the Williston Basin has added significantly to its drilling inventory. These areas, along with Turner Valley, will play key roles in 2013 organic activity and growth. Legacy expects to spend $290 million in 2013 focused on light [Read more]
Natural gas drops again on production report and mild weather
Natural gas prices fell again following a report showing production is at record levels and mild early winter weather. Natural gas fell 5 cents to end at $3.22 per 1,000 cubic feet, continuing a decline that started Monday when the Energy Department reported that natural gas production rose to a record 73.54 trillion cubic feet a day in October. In addition some analysts lowered their estimates for natural gas prices because of the mild weather that much of the country experienced [Read more]
Hyperion Announces Renewal of Bank Facilities
Hyperion Exploration Corp. announces, as a result of the schedule lending review with its credit provider, the lending limits of its existing banking facilities remain unchanged at $50.0 million. The Company''s revolving operating facility remains at a borrowing limit of $40.0 million and an acquisition/development facility remains at a borrowing limit of $10.0 million. Security for these facilities will continue to be provided by way of a charge over the petroleum and natural gas assets of the [Read more]
Crocotta Provides 2012 Exit Production Rate
Crocotta Energy Inc. is pleased to announce that it met its 2012 Exit Guidance of 8,500 boepd based on field reports. Crocotta currently has two drilling rigs in operation at Edson where it is drilling both Cardium light oil and Bluesky liquids-rich gas. Crocotta expects to provide further information relating to 2013 capital projects by the end of January. BOE Conversions Barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio [Read more]
Crew Announces 2013 Budget Targeting 15% Increase in Liquids Production
Crew Energy Inc. is pleased to announce its Board of Directors has approved a 2013 capital budget of $219 million. The 2013 program is designed to focus on the Company''s operating strategy to invest in the highest rate of return projects while also further defining and capturing hydrocarbon resource. Funding of this program will come from cash flow from operations and bank debt. The 2013 program is expected to provide 15% liquids growth spearheaded by the drilling of 101 (99.0 net) wells with [Read more]
Oil price stays above $93 a barrel
Oil prices edged higher Monday in advance of this week's U.S. government report on American crude stockpiles after and unexpected drop in inventories last week. Benchmark West Texas Intermediate crude rose 10 cents to finish at US$93.19 a barrel on the New York Mercantile Exchange. Brent crude, used to price international varieties, climbed nine cents to end at US$111.40 per barrel in London. The U.S. Energy Information Administration said last Friday that crude supplies fell by [Read more]
Oil price finishes higher after bigger than expected drop in crude supplies
The price of oil finished higher Friday after the U.S. Energy Department's Energy Information Administration reported a much bigger drop in American crude supplies than analysts expected. After trading lower much of the day, benchmark crude for February delivery closed up 17 cents at US$93.09 a barrel on the New York Mercantile Exchange. The EIA report said crude supplies fell by 11.1 million barrels, or three per cent, last week. Analysts had expected a drop of just a million [Read more]