CALGARY, Feb. 10, 2015 /CNW/ - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) announced that it has entered into agreements to expand the Vantage pipeline system ("Vantage") (the "Vantage Expansion") for an estimated capital cost of $85 million. The Vantage Expansion entails increasing Vantage's mainline capacity from 40,000 barrels per day ("bpd") to approximately 68,000 bpd through the addition of mainline pump stations and the construction of a new 80 [Read more]
News
Halliburton says it will cut 5,000 to 6,200 jobs in response to plunge in oil prices
NEW YORK - Oil and gas drilling services company Halliburton said Tuesday that it will eliminate at least 5,000 jobs in response to falling oil prices.The Houston company said it will lay off 6.5 to 8 per cent of its staff, which represents 5,005 to 6,160 employees based on its total from the end of 2014.The company said the cuts will come from all areas of its operations and that the moves are necessary because of the difficult market. Halliburton did not provide any details on the timing of [Read more]
Saturn Minerals Reports Updated Seismic Interpretation From its Saskatchewan Bannock Creek Property and Drilling of First Exploration Well
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 10, 2015) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") announces that it has completed the interpretation of the latest seismic data with 3 additional recently acquired lines now totaling 60 km on the Bannock Creek property in eastern Saskatchewan. The Company has incorporated the new seismic data with its existing geophysical model for the Bannock Creek project which is designed to identify and confirm [Read more]
Kicking Horse Energy Provides Operations and 2015 Guidance Update
CALGARY, ALBERTA--(Marketwired - Feb. 10, 2015) - Kicking Horse Energy Inc. ("Kicking Horse" or the "Company") (TSX VENTURE:KCK) reports an update on its operational activity and provides updated guidance for 2015. Operations During Q4 2014, Kicking Horse drilled 4 (3 net) wells and completed 3 (2.25 net) previously drilled wells, with 1 (0.75 net) of these completed wells being placed on production. At the end of Q4 2014, the Company had 4 (3 net) wells drilled and awaiting completion and [Read more]
Talisman Energy 2014 Fourth Quarter and Full-Year Results
CALGARY, ALBERTA--(Marketwired - Feb. 10, 2015) - Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) reported its operating and unaudited financial results for 2014. All values are in US$ unless otherwise stated. "Our 2014 results reflect the significant progress we made throughout the year to improve the reliability and predictability of our company," said Hal Kvisle, President and CEO. "Production from ongoing operations for the year averaged 357,000 boe/d, up 6% over 2013, with liquids accounting [Read more]
Global energy agency says oil prices set for swift recovery but no return to recent highs
PARIS - The price of oil is poised for a "relatively swift" recovery following the recent collapse to under $50 a barrel, but it will not come close to returning to the highs of past years, the International Energy Agency predicted Tuesday.In a report, the Paris-based organization of 29 major oil-importing nations said the rebound in recent days of the oil price "will be comparatively limited in scope, with prices stabilizing at levels higher than recent lows but substantially below the highs of [Read more]
IEA sees Canada crude output growing, but more slowly than thought
CALGARY - The International Energy Agency says Canada's crude output is expected to grow between now and the end of the decade, but not by as much as previously thought.The IEA also says the price of crude is poised to recover soon but won't come close to the levels reached last summer.In its latest report, the Paris-based organization predicts Canada's production will grow to just under five million barrels a day by 2020, about 810,000 barrels a day more than in 2014.However, that is 430,000 [Read more]
QEC: Continued Success at Kakwa With Positive Well Results and New Discovery
CALGARY, ALBERTA--(Marketwired - Feb. 10, 2015) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today on two recently completed wells in the Kakwa-Resthaven area. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "The first well was in the Montney and had excellent results that appear to prove the benefits of an improved completion technique. The second well is a new pool discovery in the uphole Halfway zone." The [Read more]
PrairieSky Royalty Announces Executive Promotion
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - James Estey, Chair of the Board of PrairieSky Royalty Ltd. ("PrairieSky") (TSX:PSK) and Andrew Phillips, President and Chief Executive Officer, are pleased to announce that the Board has promoted Cameron Proctor, PrairieSky's current Vice President, Legal & Corporate Services, to the position of Chief Operating Officer. In his enhanced role, Mr. Proctor will have overall responsibility for the operations of PrairieSky, including transaction [Read more]
Chinook Energy Inc. Announces Its December 31, 2014 Reserves and Provides Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Chinook Energy Inc. ("Chinook" or the "Company") (TSX:CKE) today announced the results of its year-end reserve evaluation effective December 31, 2014 as prepared by its independent evaluator. The Company has also provided an operations update. Chinook's audit of its 2014 annual consolidated financial statements is not yet complete and accordingly all financial amounts referred to in this news release are unaudited and represent management's [Read more]