CALGARY, ALBERTA--(Marketwired - Jan. 6, 2015) - Tuscany Energy Ltd. (TSX VENTURE:TUS) announces that in Q4 2014 the Company successfully completed the drilling of two horizontal heavy oil wells on the Company's north Macklin property in Saskatchewan and an initial horizontal heavy oil well on the Company's Morgan property in Alberta. At Macklin, the 91/1-33-39-28W3M well was placed on production in the first week of December and is producing at an estimated rate of 125 BOEd. The Macklin [Read more]
News
Crew Energy Announces 2015 Capital Budget Focused on Balance Sheet Strength and Long-Term Montney Growth
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2015) - Crew Energy Inc. (TSX:CR) ("Crew" or the "Company") today announces that the Board of Directors has approved a 2015 capital program of up to $185 million, prudently structured to maintain Crew's strong balance sheet position while providing maximum flexibility for the continued development and growth of our core northeast British Columbia ("BC") Montney resource under a variety of commodity price scenarios. This capital budget is designed to [Read more]
Spartan Energy Corp. Exceeds 2014 Exit Production Target and Announces 2015 Capital Budget and Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2015) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce that, as a result of a successful fourth quarter drilling program, we exceeded our 2014 exit production guidance of 8,900 to 9,100 boe/d in early December. We expect our fourth quarter average production to exceed 8,700 boe/d and our 2014 annual average to exceed 5,850 boe/d, 3% above our guidance of 5,700 boe/d. December average production is approximately 9,300 [Read more]
White House lets suspense linger as KXL pipeline saga reaches critical chapter
WASHINGTON - As the long-running saga over the Keystone XL pipeline enters a critical phase, U.S. President Barack Obama is allowing suspense to linger for at least a few more days.A spokesman wouldn't reveal the president's intentions Monday as the new Republican-dominated Congress prepared legislation that would force construction of the pipeline from Canada."I'm going to reserve judgment ... until we actually see what language is included in that specific piece of legislation," said Obama [Read more]
Elkwater Resources Ltd. Provides an Operations Update and Announces First Quarter 2015 Capital Budget
CALGARY, ALBERTA--(Marketwired - Jan. 5, 2015) - Elkwater Resources Ltd. ("Elkwater" or the "Company") (TSX VENTURE:ELW) is pleased to provide an operations update and announce details of its first quarter 2015 capital budget. OPERATIONS UPDATE During the fourth quarter of 2014, the Company invested approximately $7.0 million in the drilling and development of its newly acquired properties in Drayton Valley and Killam, targeting light oil from the Cardium and Belly River zones, and medium [Read more]
CaiTerra International Energy Corporation Announces Closing of Third Tranche of Previously Announced Private Placement Financing
CALGARY, ALBERTA--(Marketwired - Jan. 5, 2015) - CaiTerra International Energy Corporation (the "Company") (TSX VENTURE:CTI) announces that it has closed the third tranche of its previously announced private placement financing of common and flow-through shares and has issued an aggregate of 240,000 common shares of the Company on a "flow-through" basis pursuant to the Income Tax Act (Canada) ("Flow-Through Shares") at a price of $0.25 per Flow-Through Share for aggregate proceeds of [Read more]
Tourmaline Exceeds 2014 Production Exit Guidance and Closes Peace River High Joint Venture Deal
CALGARY, AB--(Marketwired - January 05, 2015) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to provide an update on year end 2014; The Company achieved a 2014 production exit of 151,000 boepd and remains on track to meet or exceed 2015 average production guidance of 164,500 boepd (approximately 40% higher than 2014 average production on the current, reduced 2015 capital program of $1.4 billion). Tourmaline expects to tie-in and start up approximately 90 new [Read more]
Markets plunge as oil dips below $50
NEW YORK (AP) — After six months of falling oil prices, investors are starting to worry that the prolonged slump is signaling a weaker global economy. That fear shook financial markets Monday as oil plunged again, dipping below $50 for the first time in more than five years. The drop prompted a big sell-off, not just among energy stocks, but across the entire stock market. Stocks had already endured a weak open because of concerns that Greece could exit the euro, adding to worries about [Read more]
Washington gears up for Keystone XL showdown
Senate Republican Leader Mitch McConnell says approving the Keystone XL pipeline will top the Senate agenda for 2015. The issue sets up an early 2015 veto confrontation with President Barack Obama. Congressional Republicans have been pushing for approval of the pipeline for years. Obama has resisted because of environmental concerns. The Republican-led House has repeatedly passed legislation approving the pipeline. But the bills have died in the Democratic-controlled [Read more]
Oil falls to 5 1/2-year low near $50/bbl
Crude oil dropped to 5 1/2-year low early Monday as worries continue about a global supply glut. Benchmark U.S. crude was down $1.56 at $51.13 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped 58 cents to $52.69 on Friday. Oil is down from $106 a barrel in June as global demand slackened while supplies remained high. OPEC's decision to not cut back on oil output and recent record-high production from Russia and the US have been the primary causes of [Read more]