SURREY, B.C. - Prime Minister Stephen Harper announced tax breaks Thursday for British Columbia's liquefied natural gas industry, though not a single project has yet reached a final investment decision.Harper, who made the announcement at a technical university in Surrey, B.C., said companies will receive a capital cost allowance of 30 per cent for equipment used in natural gas liquefaction and 10 per cent for buildings at a facility that liquefies natural gas.Tax relief will be available for [Read more]
News
Petrus Resources Provides Operational Update and Announces 2015 Capital Budget and Director Appointment
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - Petrus Resources Ltd. ("Petrus" or the "Company") is pleased to provide an operational update and information on its 2015 capital budget and a change to the Board of Directors. OPERATIONS UPDATE Petrus exited 2014 with record production of 11,200 boe/d (54% natural gas), an increase over the 2013 exit rate of 4,052 boe/d (58% natural gas). In addition, Petrus exited the year with an additional 800 boe/d of productive capacity from new wells [Read more]
Baytex Announces Revised 2015 Budget and Amendments to Bank Credit Facilities
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announces that its Board of Directors has approved a revised 2015 capital budget of $500 to $575 million, down from an initial 2015 capital budget of $575 to $650 million. Baytex also announces amendments to the financial covenants contained in its bank credit facilities which will provide the company with increased financial flexibility. Commenting on the announcement, James Bowzer, [Read more]
StonePoint Energy Inc. Provides 2014 Year-End Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - StonePoint Energy Inc. (TSX VENTURE:STO) ("StonePoint" or "the Company") is providing a summary of its 2014 year-end reserves. HIGHLIGHTS 399% increase in Proved plus Probable ("2P") gross reserves from 444.8 Mboe at year end 2013 to 2,217.9 Mboe. Total Proved ("1P") gross reserves increased 270% from 278.0 Mboe at year end 2013 to 1,028.9 MMboe. Proved Developed Producing ("PDP") gross reserves increased from 37.6 Mboe at year [Read more]
Zargon Oil & Gas Ltd. Announces 2014 Year End Reserves and Provides a Little Bow ASP Project Update
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - Zargon Oil & Gas Ltd. (the "Company" or "Zargon") (TSX:ZAR)(TSX:ZAR.DB) announces 2014 year end reserves and provides a Little Bow Alkaline Surfactant Polymer ("ASP") tertiary oil recovery project update. Zargon intends to release its 2014 audited financial results on March 10, 2015, after market close. 2014 YEAR END RESERVES: Reflecting a transition year of property sales and refocus, Zargon's 2014 year end proved and probable total [Read more]
Bonterra Energy Corp. Provides an Operations Update and Announces Its Corporate Reserves Information
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - Bonterra Energy Corp. (Bonterra or the Company)(www.bonterraenergy.com) (TSX:BNE) is pleased to provide an operational update as well as the results of its independent reserve report prepared by Sproule Associates Limited with an effective date of December 31, 2014. Operational Highlights Record average daily production for the full year of 13,195 barrels of oil equivalent (BOE) per day (71 percent oil and liquids), an increase of 8 [Read more]
Strategic Oil & Gas Ltd. Provides Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - Strategic Oil & Gas Ltd. ("Strategic", or the "Company") (TSX VENTURE:SOG) announces that, in response to the recent downturn in commodity prices, the Company has made several changes to its cost structure and capital spending programs to preserve financial flexibility and enhance profitability: The Company prudently elected to stop the winter Muskeg drilling program in order to preserve capital. One Muskeg horizontal well (13-31) was [Read more]
Alberta NDP launch online petition to fight corporate tax freeze amid low oil
EDMONTON - The Alberta NDP is launching an online petition to urge Premier Jim Prentice to reverse his decision to not hike corporate taxes.NDP Leader Rachel Notley says it's unfair for Prentice to freeze corporate taxes and oil royalties while signalling there will be hikes in personal income taxes and user fees.Prentice has said hiking Alberta's 10 per cent corporate tax would harm the economy at a time it is already reeling from billions of dollars in lost revenue due to low oil.Notley says [Read more]
TransCanada to seek US approval for $600M Upland Pipeline, going north from North Dakota
BISMARCK, N.D. - The Canadian company behind the long-delayed Keystone XL oil pipeline will seek U.S. government approval for another pipeline — this one going north.Industry officials in North Dakota say the proposed Upland Pipeline could reduce reliance on the railroads to ship crude following recent concerns about safety.TransCanada Corp.'s proposed $600 million Upland Pipeline would begin near the northwestern North Dakota oil hub of Williston and go north into Canada about 200 miles. At [Read more]
Inter Pipeline Announces Record 2014 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today financial and operating results for the three and twelve month periods ended December 31, 2014. 2014 Highlights Generated record funds from operations* of $564 million, a 19 percent increase over 2013 results Declared cash dividends of $423 million or $1.32 per share Annual payout ratio* of 77 percent Announced an $0.18 annualized dividend increase, the largest single [Read more]