TORONTO, ON--(Marketwired - July 27, 2015) - Scotiabank's Commodity Price Index rebounded further in June -- up +2.6% month-over-month (m/m) and +9.5% from the March 2015 low. "In March, commodity prices plunged to the lowest level since January 2007 alongside a lacklustre global economy, with GDP growth in 2015 likely climbing at a subdued pace for the fourth consecutive year," said Patricia Mohr, Vice President of Economics and Commodity Market Specialist at Scotiabank. "In addition, fierce [Read more]
News
Striker Exploration Corp. Announces Belly River Asset Acquisition, Belly River Land Acquisition, $8.0 Million Equity Financing and Operations Update
CALGARY, ALBERTA--(Marketwired - July 27, 2015) - Striker Exploration Corp. ("Striker" or the "Company") (TSX VENTURE:SKX) is pleased to announce the execution of definitive agreements in respect of an asset acquisition and a land acquisition (collectively, the "Acquisitions"), an equity financing, and an operations update. The Acquisitions are consistent with Striker's continuing strategy of focusing on shallow light oil prospects, increasing its horizontal location inventory, and [Read more]
B.C. finance minister heads to Malaysia to discuss Petronas LNG deal
VICTORIA - British Columbia's finance minister is travelling to Malaysia to discuss a $36 billion liquefied natural gas project in the province's northwest.Michael de Jong will meet with officials over the next six days to discuss the ratification of a project agreement with Pacific Northwest LNG, a consortium led by Malaysia energy giant Petronas.The province passed legislation this week that allowed it to enter into an agreement with the consortium to build an LNG export terminal near Prince [Read more]
Canamax Announces Grant of Stock Options
CALGARY, AB--(Marketwired - July 24, 2015) - Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) announced that the Board of Directors of the Company has approved a resolution to grant an aggregate of 3,097,500 stock options ("Options") to acquire common shares of the Company pursuant to the Company's Stock Option Plan (the "Plan"), of which 1,862,500 were granted to officers and directors of the Company, and the remaining options granted to employees and consultants. The [Read more]
Alberta energy, environment ministers concerned about Nexen pipeline spill
FORT MCMURRAY, Alta. - Alberta's energy and environment ministers say they're concerned about a pipeline spill that was discovered in the oilsands region last week. Marg McCuaig-Boyd and Shannon Phillips toured the cleanup site 35 kilometres southeast of Fort McMurray, along with a representative from a nearby aboriginal community. Both ministers say they have confidence in the investigation underway by the Alberta Energy Regulator, an arms-length watchdog. The ruptured year-old [Read more]
TSX Energy Index plummets
The S&P/TSX Capped Energy Index has fallen to levels not seen since the immediate aftermath of the 2008 global financial crisis. On February 23 2009, the index dropped to lowly 174.62 (from a June, 2008 high of 466). Today, the index plummeted to a new low at 179.92. The S&P/TSX Capped Energy Index provides liquid and tradeable benchmarks for related derivative products of the Canadian energy indsutry. Constituents are selected from a stock pool of S&P/TSX Composite Index stocks, and [Read more]
Delphi Energy Announces Closing of Disposition of Wapiti Assets
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to report that it has closed the previously announced disposition of its working interests in producing properties, facilities and infrastructure and undeveloped land in the greater Wapiti area for $50.0 million, after closing adjustments. The Company's growth over the past three years has been achieved through successful drilling and completions on its Bigstone Montney [Read more]
Crew Energy Inc. Announces Closing of Northeast BC Montney Petroleum and Natural Gas Rights Exchange With Province of British Columbia and Reports Positive Operational Results
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") is pleased to announce the completion of a Northeast British Columbia ("NE BC") Montney petroleum and natural gas rights exchange with the Province of British Columbia ("BC"). Through this transaction, Crew has been granted petroleum and natural gas rights in 53 net sections of Montney land (the "New Acreage") which is contiguous to the Company's Groundbirch property, in [Read more]
Eagle Energy Trust Announces Strategic Alberta Acquisition in the Twining Field
CALGARY, ALBERTA--(Marketwired - July 22, 2015) - Eagle Energy Trust ("Eagle") (TSX:EGL.UN) is pleased to announce that it has entered into an agreement with a private company ("Privateco") for the acquisition by Eagle of all the issued and outstanding shares of Privateco (the "Transaction"). The Transaction is valued at approximately $30 million, including Privateco's indebtedness, and will be funded out of Eagle's existing credit facility of $110 million ($US 85 million). It will be completed [Read more]
The sensationally unsensational Nexen bitumen leak
The media is no stranger to making news seem more newsworthy than in actual fact. Case in point is the recent Nexen pipeline leak in Northern Alberta. Since the leak was first reported, there have been accounts of the spill reaching five million litres of bitumen! Five million sounds like a outrageous amount of bitumen to be dumped into the environment, but on second thought, when was the last time bitumen was measured in litres? The normal custom, of course, for the media is to report [Read more]