CALGARY, AB--(Marketwired - May 21, 2015) - Husky Energy (TSX: HSE) has started commercial steam operations at the 10,000 barrels per day (bbls/day) Rush Lake heavy oil thermal project in Saskatchewan, approximately eight weeks ahead of schedule. Like the Company's other thermal projects, Rush Lake is expected to ramp up to full production in a short time period. "Rush Lake is the latest in a series of long life, low sustaining capital thermal projects we are advancing in our heavy oil [Read more]
News
Cheaper oil isn’t such a benefit for US economy anymore as pullbacks in drilling cause damage
WASHINGTON - If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy.It hasn't worked out that way.The economy is thought to have shrunk in the January-March quarter and may barely grow for the first half of 2015 — thanks in part to sharp cuts in energy drilling. And despite their savings at the gas pump, consumers have slowed rather than increased their spending.At $2.71 a gallon, the average price of gas [Read more]
B.C., Petronas sign deal toward proposed LNG project in province’s northwest
VICTORIA - Plans to build a $36-billion liquefied natural gas export facility on British Columbia's northwest coast moved forward Wednesday, although there's no green light yet signalling the project's official start. The B.C. government and Malaysian energy giant Petronas signed a memorandum of understanding that could lead to a project-development agreement and eventually the construction of an LNG plant at Lelu Island near Prince Rupert.Premier Christy Clark said once Petronas-controlled [Read more]
TORC Oil & Gas Announces Closing of Financings and Reiterates $125 Million Capital Budget and Production Guidance
CALGARY, May 20, 2015 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG) is pleased to announce the closing today of its previously announced bought deal prospectus offering of subscription receipts (the "Bought Deal Financing") and its previously announced private placement of subscription receipts (the "CPPIB Investment") to the Canada Pension Plan Investment Board ("CPPIB"). Pursuant to the Bought Deal Financing, TORC issued 28,520,000 subscription receipts at a price of [Read more]
Are US Drillers Actually Making A Comeback?
Is US shale about to make a comeback? Oil prices have rebounded strongly since March. The benchmark WTI prices soared by more than 36 percent in two months, and Brent has jumped by more than 25 percent. There is a newfound bullishness in the oil markets – net long positions on Brent crude have hit multi-year highs in recent weeks on a belief that US supply is on its way down. That was backed up by recent EIA data that predicts an 86,000 barrel-per-day contraction for June. The Eagle Ford [Read more]
Blackbird Energy Inc. Announces Summer Drill Program and Appointment of New Independent Director
CALGARY, ALBERTA--(Marketwired - May 20, 2015) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is very pleased to announce a summer drill program consisting of one horizontal well targeting the condensate-rich Middle Montney at its Elmworth Montney project which consists of a 100% working interest in 81 sections (51,840 acres). The well is a 5.6 km (3.5 mile) easterly step out from the first two Blackbird operated Montney wells. This well will continue the process of [Read more]
EDC: Alberta exports to bounce back from energy losses in 2016
EDMONTON, May 20, 2015 /CNW/ - The dramatic drop in oil and gas prices will lead to a 17 per cent fall in Alberta's export earnings in 2015, but partial price recovery and volume gains will help overall exports rebound in 2016 to the tune of 19 per cent growth. The forecast was made today by Export Development Canada (EDC), Canada's leading provider of small business financing and insurance for companies with sales or business outside of Canada. "This will be a difficult year for Alberta [Read more]
Relentless Announces Financial and Operating Results for the Three Months Ended March 31, 2015
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - Relentless Resources Ltd. ("Relentless" or "the Company") (TSX VENTURE:RRL) is pleased to report its financial and operating results for the three months ended March 31, 2015. Selected financial and operational information is set out below and should be read in conjunction with the Company's March 31, 2015 interim financial statements and the related management's discussion and analysis, which are available for review, together with additional [Read more]
Granite Oil Corp.: Corporate Update – Trading
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - GRANITE OIL CORP. ("Granite", formerly DeeThree Exploration Ltd.) (TSX:GXO) announces that effective at the opening of trading on Thursday, May 21, 2015, the common shares of Granite will be listed and posted for trading on the Toronto Stock Exchange under the stock symbol of "GXO" in substitution for the common shares of DeeThree Exploration Ltd. (TSX:DTX) which will be delisted at that time. The foregoing results from a recently completed [Read more]
Boulder Energy Ltd.: Corporate Update- Trading
CALGARY, ALBERTA--(Marketwired - May 19, 2015) - BOULDER ENERGY LTD. ("Boulder") (TSX:BXO) announces that effective at the opening of trading on Thursday, May 21, 2015, the common shares of Boulder will be listed and posted for trading on the Toronto Stock Exchange under the stock symbol of "BXO". The foregoing results from a recently completed plan of arrangement (the "Arrangement") involving Boulder and Granite Oil Corp. (TSX:GXO), formerly DeeThree Exploration Ltd. For additional [Read more]