CALGARY, Jan. 14, 2015 /CNW/ - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to announce that it has entered into a bought deal agreement with a syndicate of underwriters co-led by Peters & Co. Limited and FirstEnergy Capital Corp. Raging River will issue 12,000,000 common shares ("Common Shares") at $6.40 per Common Share for gross proceeds of $76,800,000 (the "Offering"). The underwriters will have an option to purchase up to an additional 15% of the [Read more]
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DeeThree Exploration Ltd. Announces 2015 Budget and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Jan. 13, 2015) - DEETHREE EXPLORATION LTD. ("DeeThree") ("Company") (TSX:DTX)(OTCQX:DTHRF) is pleased to announce its 2015 capital budget and provide its financial and operating guidance for 2015. The Company's Board of Directors has approved a 2015 capital budget of up to $160 million. This budget is structured to maintain DeeThree's strong balance sheet position and to provide maximum financial and operational flexibility. The budget targets average 2015 [Read more]
Suncor accelerates spending reductions in response to lower crude price environment
CALGARY, ALBERTA--(Marketwired - Jan. 13, 2015) - Suncor Energy Inc. announced today significant spending reductions to its 2015 budget in response to the current lower crude price environment. The cuts include a $1 billion decrease in the company's capital spending program, as well as sustainable operating expense reductions of $600 million to $800 million to be phased in over two years offsetting inflation and growth. "Our integrated model and strong balance sheet have positioned us well [Read more]
Senate Democrats look to tweak bill on Keystone XL pipeline
WASHINGTON (AP) — Democrats hoped to use Senate consideration of the Keystone XL oil pipeline to get Republicans on the record about climate change and to resurrect parts of a bipartisan energy efficiency bill doomed by pipeline politics last year. The first bill of the Republican-controlled Senate seeks to approve construction of the long-delayed pipeline. Democrats and Republicans plan to use the debate, which is expected to drag into next week, to score political points. Sen. Bernie [Read more]
Dejour B-100 Woodrush Oil Well Swab Tests at 400 BOPD
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, updates current development progress underway at the Woodrush/Hunter Project (“Woodrush”) in NE British Columbia. Dejour has successfully production tested the B-100 Halfway oil step out well at rates of up to 500 BOPD over a seven [Read more]
Prentice pans talk of Alberta recession; calls the suggestion an ‘outlier’
CALGARY - Premier Jim Prentice is scoffing at a suggestion by the Conference Board of Canada that Alberta is likely to face a recession as crude prices continue to plunge."I don't agree with it," he said Tuesday of the Ottawa-based economic think-tank's assessment."I didn't find their analysis to be particularly cogent, to be frank, and the opinion that they put forward is an outlier amongst all of the other opinions that have been put forward by every one of Canada's chartered banks and by [Read more]
Conference Board of Canada says Alberta to likely face recession this year
The Conference Board of Canada says Alberta will likely face a recession this year due to the plunging price of oil. The economic think tank says Alberta’s latest employment and new housing start numbers are holding steady, but if oil prices stay low the province will slip into recession. Chief economist Glen Hodgson says even if oil prices rebound to $65 dollars per barrel he forecasts that investment, profits and consumer spending will be down. Calgary-based Canadian Natural Resources [Read more]
Keystone clears hurdle in U.S. Senate
WASHINGTON - The Keystone XL pipeline passed a major procedural hurdle in the United States Senate, receiving enough votes Monday to override a filibuster for the first time in the years-long dispute.The chamber agreed to move forward with debate on a bill that would force President Barack Obama to approve the controversial Canadian oil infrastructure.The vote reflects the power of the new Republican majority following the midterm elections, and is the first piece of legislation advanced in the [Read more]
BlackPearl Revises 2015 Capital Spending Plans Due to Lower Crude Oil Prices
CALGARY, ALBERTA--(Marketwired - Jan. 12, 2015) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(OMX:PXXS) announced today changes to its 2015 capital program as a result of the continued deterioration in crude oil prices. Capital Plans In November 2014, the Company announced that it expected to spend approximately $280 million in 2014 and had set a 2015 capital budget of $80 million. Our original plans were based on forecast 2015 oil prices of US$85 WTI, a US$17 per [Read more]
Exxon says Prince Rupert LNG plant worth $25-billion and could create 6,000 jobs
VICTORIA - Texas-based energy giant Exxon Mobil Corp., has submitted plans to develop what could be a $25-billion liquefied natural gas project near Prince Rupert on British Columbia's north coast.Exxon and its Canadian partner, Imperial Oil Ltd. (TSE:IMO), outlined a strategy for West Coast Canada LNG, or WCC LNG, in a 141-page report to the provincial government's Environmental Assessment Office.Exxon said in the report that it considered eight potential export facility sites in the Kitimat [Read more]