CALGARY, ALBERTA--(Marketwired - Sept. 1, 2015) - Pan Orient Energy Corp. ("Pan Orient") (TSX VENTURE:POE) is pleased to announce the appointment of Richard M. Alexander as a director and a member of Pan Orient's audit committee. Mr. Alexander has over 35 years of experience in the oil and gas industry. He is presently the President and Chief Executive Officer and a director of Parallel Energy Trust and previously held senior positions with AltaGas Ltd., Niko Resources Ltd. and Husky [Read more]
News
Penn West cutting 400 jobs, mostly at Calgary HQ, to reduce spending
CALGARY - A fresh wave of layoffs is hitting Alberta's energy sector, with two oil and gas companies announcing 900 job cuts on Tuesday, mostly in Calgary, and analysts saying they see more on the way.Penn West Petroleum is reducing its workforce by 35 per cent for a loss of over 400 full-time employees and contractors.And ConocoPhillips Canada plans to lay off 400 employees, or 15 per cent of its workforce, plus 100 contractors.Penn West (TSX:PWT) said most of the job cuts announced Tuesday are [Read more]
Deep Well Announces Production Update
EDMONTON, ALBERTA--(Marketwired - Sept. 1, 2015) - Deep Well Oil & Gas, Inc. (and its subsidiaries - "Deep Well" or "Company") (OTCQB:DWOG) is pleased to announce a production update of our joint Steam Assisted Gravity Drainage project ("SAGD Project") located in the Peace River oil sands area of Alberta, Canada. Our SAGD Project production rate at the end of 11 months exceeded the average rate forecasted for the first year by 76% of the "Proved Plus Probable" production type curve [Read more]
Manitok Energy Inc. Announces Financial Results for the Second Quarter of 2015 and an Operations Update
CALGARY, ALBERTA--(Marketwired - Aug. 31, 2015) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) announces its financial and operating results for the second quarter of 2015 and an operations update. Readers are cautioned that as this press release contains only a summary of Manitok's financial and operating results for the second quarter of 2015, it should be read in conjunction with the full text of Manitok's second quarter of 2015 report [Read more]
Marksmen Releases Financial Results for Three and Six Months Ended June 30, 2015
CALGARY, ALBERTA--(Marketwired - Aug. 31, 2015) - Marksmen Energy Inc. ("Marksmen") (TSX VENTURE:MAH)(OTCQB:MKSEF) reports its financial results for the three and six months ended June 30, 2015. The interim financial statements and Management's Discussion & Analysis were filed August 31, 2015 on SEDAR at www.sedar.com. [Read more]
Cenovus completes transaction to purchase rail terminal
Facility ownership strengthens market access CALGARY, Aug. 31, 2015 /PRNewswire/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has closed its previously announced purchase of Canexus Corporation's North American Terminal Operations (NATO), a crude-by-rail trans-loading facility in central Alberta. The acquisition is part of Cenovus's strategy to build a strong portfolio of transportation options to help maximize market access and capture global prices for its oil. The company is [Read more]
Marquee Energy Ltd. Provides Corporate Update
CALGARY, Aug. 31, 2015 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQL") announces that concurrent with the Acquisition previously announced on August 13, 2015, the Company's banking syndicate confirmed that Marquee' borrowing base remains unchanged at $95 million. However, as part of ongoing cost reduction initiatives, Marquee will reduce its borrowing base to $70 million effective August 31, 2015, which will decrease future standby and commitment fees. Marquee [Read more]
Artisan Energy Closes Initial Tranche of Brokered Private Placement
CALGARY, ALBERTA--(Marketwired - Aug. 31, 2015) - Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC) is pleased to announce that it has closed the initial tranche of its previously announced brokered private placement of common shares ("Private Placement") with Richardson GMP Limited ("Richardson GMP") as agent. Artisan has issued 3,744,000 common shares at a price of $0.10 per common share for aggregate gross proceeds of $374,400. Artisan expects [Read more]
New North Resources announces two acquisitions
New North Resources is pleased to announce that during August 2015, the Company closed two deals, as follows: - Purchase of shallow gas assets that produced approximately 200 BOED (94% natural gas), from a Public Company. - The Company acquired all of the issued and outstanding shares of Speargrass Energy Inc., With current production of 130 BOED (87 % natural gas). [Read more]
NDP has largest budget deficit ever at $9.1B
Alberta’s finance minister said earlier today the province is on track to record a $5.9-billion deficit this year as the oil crunch hits families and businesses. Joe Ceci released figures for the first three months of the 2015-16 fiscal year which began April 1. “There is no doubt many Alberta families and businesses are feeling the effects of the dramatic drop in oil prices,” said Ceci. “That’s why our government is focused on building a plan for job creation and diversification of our [Read more]