CALGARY, ALBERTA--(Marketwired - Feb. 18, 2015) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to provide a summary of our 2014 year-end reserves. In this press release, all references to reserves are to company gross reserves, meaning Spartan's working interest reserves before deductions of royalties and before consideration of Spartan's royalty interests. HIGHLIGHTS Year-end 2014 proved plus probable ("2P") reserves increased to 39.6 MMboe (96% oil and liquids) [Read more]
News
Advantage Announces 2014 Reserves & Operational Update
321% Reserve Replacement, 3.2x Recycle Ratio and $1.03/Mcfe Finding & Development Cost Reaffirms High Quality Glacier Asset (TSX: AAV, NYSE: AAV) CALGARY, Feb. 17, 2015 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report highly efficient 2014 reserve additions from its continuing Montney resource development at Glacier, Alberta ("Glacier"). In particular, improved well performance in the Upper, Middle and Lower Montney contributed to a significant [Read more]
Northern Spirit Resources Inc. Announces Issuance of Options
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) - Northern Spirit Resources Inc. ("Northern Spirit" or the "Company") (TSX VENTURE:NS) announces that it has issued an aggregate of 15,500,000 stock options to directors and officers of the Company in accordance with the Company's shareholder approved stock option plan. The stock options are exercisable at $0.05 per share, expire in five years and vest as to one-third on each of the first, second and third anniversaries of the date of [Read more]
Advantage Announces 2015 Guidance and Development Plan Update
Glacier Outperformance Enables $110 million Capital Reduction in 2015 & Maintains 36% Planned Growth to 183 mmcfe/d (TSX: AAV, NYSE: AAV) CALGARY, Feb. 17, 2015 /CNW/ - The Board of Directors has approved a 2015 capital budget of $160 million which maintains Advantage's financial strength, operational flexibility and future growth plans. As a result of outstanding well and operating performance at Glacier, the 2015 capital program has been reduced by $110 million from prior estimates [Read more]
Berkshire Hathaway unloads Exxon Mobil, ConocoPhillips stakes as oil prices fall, adds Deere
OMAHA, Neb. - Billionaire Warren Buffett's company unloaded its 41 million shares of Exxon Mobil Corp. and sold a smaller stake in ConocoPhillips as oil prices fell last fall.Berkshire Hathaway Inc. filed an update on the stocks it held at the end of 2014 with the Securities and Exchange Commission Tuesday.Berkshire recorded a number of moves during the last three months of last year, including buying 15.6 million shares of Deere & Co. stock and adding nearly 6.5 million shares to its already [Read more]
Manitok Energy Inc. Announces Grant of Incentive Stock Options
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) - Manitok Energy Inc. (the "Corporation") (TSX VENTURE:MEI) announces that its board of directors approved the granting of incentive stock options ("Options") under its stock option plan to certain of its directors and officers to acquire up to an aggregate of 805,000 common shares ("Common Shares") of the Corporation and the granting of Options to certain of its employees and consultants to acquire up to an aggregate of 330,000 Common [Read more]
Quicksilver Resources Announces Decision Not to Make Interest Payment
FORT WORTH, Texas, Feb. 17, 2015 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. (OTCQB:KWKA) announced today that the company has decided not to make the approximately $13.6 million interest payment due February 17, 2015 on its 9.125% senior notes due 2019 (the "2019 Notes"). Under the terms of the indenture governing the 2019 Notes, the company has a 30-day grace period before the failure to make the interest payment results in an event of default. The company believes it is in the best [Read more]
Cenovus announces $1.5 billion bought-deal common share financing
CALGARY, Feb. 17, 2015 /CNW/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) ("Cenovus") announced today that it has entered into a bought-deal financing agreement to sell 67.5 million common shares ("Common Shares") at a price of $22.25 per share (the "Offering"). The net proceeds of the Offering, combined with the company's $3 billion of undrawn committed credit lines, provide Cenovus with a stronger balance sheet and financial flexibility to pursue its planned capital program. The Offering [Read more]
Pinecrest Energy Inc. Announces Reorganization by Way of Plan of Arrangement, Proposed Management Changes and Financing
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) - Pinecrest Energy Inc. ("Pinecrest" or the "Company") (TSX VENTURE:PRY) announces that it has entered into an agreement (the "Arrangement Agreement") with Virginia Hills Oil Corp. ("Virginia Hills") and a junior dividend paying company (the "Purchaser") pursuant to which, among other things, Pinecrest will carry out a reorganization of its business which will result in Virginia Hills acquiring approximately 90% of Pinecrest's current assets and [Read more]
Cardinal Energy Ltd. Announces Light Oil Acquisition
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) announces that it will acquire all of the issued and outstanding common shares of Pinecrest Energy Inc. ("Pinecrest") after Pinecrest transfers certain assets and liabilities into a newly formed publicly listed company. Assets retained in Pinecrest to be acquired by Cardinal are expected to produce approximately 170 boe/d (97% light oil and NGLs). Light Oil Acquisition Cardinal [Read more]