CALGARY, Feb. 19, 2015 /CNW/ - Genalta Power Inc. ("Genalta") is pleased to announce the completion of the first phase of its Three Creeks project, part of the Peace River Power Centre, in conjunction with Baytex Energy Corp. (TSX:BTE)(NYSE:BTE) ("Baytex"). The electrical power generating facility is located near Baytex's Three Creeks Field in the Peace River region of northern Alberta. The new facility is designed to conserve solution gas in the area, while providing a new source of low [Read more]
News
Why Oil Prices Must Go Up
It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. While analyzing the short-term trajectory of oil prices is certainly important, it obscures the fact that over the long-term, oil exploration companies may struggle to bring new sources of supply online. Ed Crooks over at the FT persuasively summarizes the predicament. Crooks says that [Read more]
Artek Exploration Ltd. Reports Significant 2014 Reserves Growth
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2015) - Artek Exploration Ltd. (TSX:RTK) of Calgary, Alberta ("Artek" or the "Company") is pleased to announce the results of its independent reserve evaluation for the year ended December 31, 2014 (the "Sproule Report") as prepared by Sproule Associates Limited ("Sproule"). 2014 HIGHLIGHTS Increased Proved plus Probable reserves by 9% to 46.4 million boe and Proved reserves by 12% to 24.0 million boe and Proved Developed Producing reserves by 31% [Read more]
Pine Cliff Energy Ltd. Announces 2014 Year-End Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2015) - Pine Cliff Energy Ltd. ("Pine Cliff") (TSX VENTURE:PNE) is pleased to announce its 2014 year-end reserves. Pine Cliff's independent reserve report was prepared by McDaniel & Associates Limited ("McDaniel") in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") with the effective date of December 31, 2014. As a result of two acquisitions in 2014, Pine Cliff is pleased to report [Read more]
Peyto’s 2014 Exit Production and Total Reserves Exceed 85,000 boe/d and 530 MMBOE
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2015) - Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX:PEY) is pleased to present the results and analysis of the independent reserve report effective December 31, 2014. The evaluation encompassed 100% of Peyto's reserve assets and was conducted by InSite Petroleum Consultants ("InSite"). This year marks the company's 16th year of profitable reserves development and the largest organic capital program in Peyto's history. [Read more]
Crew Energy Inc. Announces Strong 2014 Reserves Additions
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2015) - Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") is very pleased to announce the results of its independent reserve evaluation for the year ended December 31, 2014 as prepared by Sproule Associates Ltd. ("Sproule"), which is outlined in more detail below. 2014 HIGHLIGHTS Through an active and successful drilling program, the Company added 108.4 mmboe of proved plus probable ("2P") reserves, which contributed to a [Read more]
Tourmaline Announces Strong Reserve and Production Growth in 2014
CALGARY, AB--(Marketwired - February 18, 2015) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce reserve and production results for full year 2014. Highlights Proved plus probable reserves (2P) increased to 855.8 mmboe during 2014, a 45% increase over 2013 reserves of 590.1 mmboe (38% growth per diluted share). Proved reserves increased 49%, proved developed producing (PDP) and proved developed non-producing reserves increased by 50%. 2P crude and [Read more]
Blackbird Energy Inc. Announces Appointment of Chief Financial Officer
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2015) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that Mr. Jeff Swainson has been appointed to the position of Chief Financial Officer. Prior to his appointment as Chief Financial Officer, Mr. Swainson held the position of Controller with Blackbird. Mr. Swainson is a Chartered Accountant with over seven years of broad finance experience in audit, financial reporting, tax, budgeting and forecasting, [Read more]
Talisman Energy Receives Shareholder Approval for Acquisition by Repsol
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2015) - Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) announced today that the holders of its Common Shares and Preferred Shares have approved the proposed arrangement under which Repsol S.A., through a wholly-owned subsidiary, is to acquire all of the outstanding shares of Talisman. Of the votes cast, over 99% of holders of each class of shares voted in favour of the agreement at the special meeting of shareholders held earlier today. The completion of [Read more]
Imperial to build new oil sands research centre in southeast Calgary
Centre will continue focus on developing efficient next-generation oil sands technologies Facility design will incorporate new technologies and flexibility to accommodate future needs Occupancy planned for 2017 CALGARY, Feb. 18, 2015 /CNW/ - Imperial Oil Limited announced today that it will build a new research facility in southeast Calgary. The new research centre will continue Imperial's progress in developing next-generation resource recovery technologies for safely and efficiently [Read more]