Proved bitumen reserves up 7% Combined oil sands production averaged more than 128,000 barrels per day (bbls/d) net in 2014, up 25% from 2013. Non-fuel operating costs per barrel at the company's oil sands projects declined 14% compared with the previous year. Total oil production averaged more than 203,000 bbls/d net, up 14% from 2013. Capital investment was $3.1 billion, 6% lower than in 2013. Cash flow was $3.5 billion, a 4% decrease compared with 2013. Rising oil sands production [Read more]
News
Surge Energy Inc. Announces a 52 Percent Increase in 2014 Year End Reserves, New Net Asset Value of $7.36 Per share; Sale of Non-core Assets for $35.6 Million; Record Weekly Production; New Bank Line Review
CALGARY, Feb. 11, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") delivered excellent results with respect to the Company's 2014 year end reserves. Highlights: Surge's net asset value (NAV)1 per share for December 31, 2014 is $7.36 utilizing the lower crude oil price deck used by Surge's external engineers. Increased Proved plus Probable reserves by 52% to 112.0 million boe as compared to December 31, 2013 reserves of 73.5 million boe. Increased Proved plus Probable reserves [Read more]
Arcan Provides Further Update Regarding Its Convertible Debenture Exchange Transaction
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2015) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") announced today a further update regarding the anticipated closing of the exchange of its $86.25 million 6.25% convertible unsecured subordinated debentures due February 28, 2016 and $85.0 million 6.50% convertible unsecured subordinated debentures due October 31, 2018 (collectively, the "Debentures") into common shares (the "Exchange Shares") at an exchange price of $0.15 per [Read more]
Spyglass Resources Corp. announces revised 2015 capital program and production guidance
All values are in Canadian dollars unless otherwise indicated. Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1. CALGARY, Feb. 11, 2015 /CNW/ - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX: SGL, OTCQX: SGLRF) announces revised 2015 capital program and production guidance. As a result of the sustained decline in commodity prices, Spyglass has revised its 2015 capital budget to $8 million from the previously announced $26 million. This reduced [Read more]
Keyera Announces Two-for-One Share Split
CALGARY, Feb. 11, 2015 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today a two-for-one split of Keyera's outstanding common shares. The record date for the share split will be April 1, 2015. Each Keyera shareholder will receive one additional common share of Keyera for each common share held on the share split record date. The Toronto Stock Exchange has determined that, in connection with the share split, the common shares will be traded in accordance with "due bill" trading [Read more]
Exall Energy Corporation Announces Revised Process to Pay Out Existing Credit Facility
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2015) - Exall Energy Corporation ("Exall" or the "Company") (TSX:EE)(TSX:EE.DB) announced today that, further to its February 9, 2015 announcement, Viking Investments Group, Inc. (the "Lender") has provided Exall with a non-binding letter of intent (the "LOI") pursuant to which, as a preliminary step (the "Interim Financing"), it would loan $35.0 million to Exall in order to allow Exall to retire its existing facility with Exall's current senior Canadian [Read more]
ARC Resources Ltd. reports record fourth quarter production and strong financial results
CALGARY, Feb. 11, 2015 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its fourth quarter 2014 operating and financial results. Fourth quarter production averaged a record 117,986 boe per day and funds from operations were $251.7 million ($0.79 per share). ARC's Audited Consolidated Financial Statements and Notes, as well as ARC's Management's Discussi|on and Analysis ("MD&A") for years ended December 31, 2014 and 2013, are available on ARC's website at [Read more]
Keystone bill heads to Obama for likely veto
The Republican-controlled Congress has cleared a bill approving the construction of the Keystone XL oil pipeline. That sets up a confrontation with President Obama, who has threatened to veto the measure. The House voted 270-152 on Wednesday to send the bill to the president. Neither chamber has enough votes to overcome a veto. The vote caps weeks of debate on a top priority for Congress after the GOP took control last month. Supporters are already planning on using other means to secure [Read more]
Anderson Energy Inc. Provides Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2015) - Anderson Energy Inc. (the "Company") (TSX:AXL) provides the following operations update. The Company has completed its 2014/2015 winter drilling program with 10 gross (9.1 net capital, 8.0 net revenue) wells drilled. Due to weak commodity prices, the drilling of the remaining 3 gross (2.2 net) wells in the planned program has been deferred. Seven of the nine Cardium wells drilled have more than 30 days of initial production ("IP 30"). The [Read more]
Dejour Energy Reports YE 2014 Reserve Volumes and Values
VANCOUVER, British Columbia--(BUSINESS WIRE)--Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, is pleased to announce that today it has received the Year End 2014 Reserve Evaluations in accordance with Canada’s National Instrument 51-101* Standards of Disclosure. The current and forecast prices are based on YE 2014 spot and [Read more]