B.P. Cahir to succeed T.G. Scott effective January 1 T.G. Scott appointed vice-president of XTO Energy Inc. CALGARY, Dec. 29, 2014 /CNW/ - Imperial Oil Limited announced today the appointment of B.P. (Bart) Cahir as senior vice-president, upstream, effective January 1. Mr. Cahir, currently president and general manager for ExxonMobil Qatar Inc., succeeds T.G. (Glenn) Scott, who has been appointed vice-president, advisory and support team and international ventures, for XTO Energy [Read more]
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CaiTerra International Energy Corporation Announces Closing of Second Tranche of Previously Announced Private Placement Financing
CALGARY, ALBERTA--(Marketwired - Dec. 29, 2014) - CaiTerra International Energy Corporation (the "Company") (TSX VENTURE:CTI) announces that it has closed the second tranche of its previously announced private placement financing of common and flow-through shares and has issued an aggregate of 300,000 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]
As oil prices fall, Alaska governor halts project spending
ANCHORAGE, Alaska (AP) — With oil prices dropping, Alaska Gov. Bill Walker has halted new spending on six high-profile projects, pending further review. Walker issued an order Friday putting the new spending on hold. He cited the state's $3.5 billion budget deficit, which has increased as oil prices have dropped sharply. With oil prices now around a five-year low, officials in Alaska and about a half-dozen other states already have begun paring back projections for a continued gusher of [Read more]
Saudis running $39 billion deficit due to low oil prices
Saudi Arabia's Cabinet on Thursday endorsed a 2015 budget that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a nearly $39 billion deficit. In a sign of mounting financial pressure, the Finance Ministry said the government would try to cut back on salaries, wages and allowances, which "contribute to about 50 percent of total budgeted expenditures." That could stir resentment among the kingdom's youth, who make up a majority of [Read more]
Financial shocker of the year: Oil at $60
NEW YORK (AP) — For the first half of 2014 the oil market looked just as it had the year before — and the 2 years before that. Oil was over $100 and drivers in the U.S. were paying around $3.50 for gasoline. Economies around the world seemed to have adjusted to higher priced oil and oil companies were using high profits and debt from willing lenders to scour the world for new reserves. There was no real hope or expectation that U.S. drivers would see a price at the pump that started with a [Read more]
Dejour’s 2nd Well Logs 17’ of Gething Gas Pay
2014 Woodrush Drill Program Moves to Completion 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. As per the previously announced 2014 development program, [Read more]
Northern Spirit Resources Inc. Announces Closing of Private Placement
CALGARY, ALBERTA--(Marketwired - Dec. 24, 2014) - Northern Spirit Resources Inc. ("Northern Spirit" or the "Corporation") (TSX VENTURE:NS) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Private Placement") of common shares in the capital of the Corporation issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) ("Flow-Through Shares"). In this first tranche, the Corporation issued an aggregate of [Read more]
Stonehaven Announces Closing of $3.4 Million Private Placement of Flow-Through Shares
CALGARY, ALBERTA--(Marketwired - Dec. 23, 2014) - Stonehaven Exploration Ltd. ("Stonehaven" or the "Company") (TSX VENTURE:SE) reports that it has closed its previously announced private placement offering (the "Offering") of 2,267,000 common shares of the Company issued on a "flow-through" basis (the "Flow-Through Shares") at a price of $1.50 per Flow-Through Share, resulting in gross proceeds of $3,400,500. The gross proceeds of the Flow-Through Shares will be used by the Company to incur [Read more]
Palliser Provides Status Update
Calgary, Alberta / ACCESSWIRE / December 23, 2014 / Palliser Oil & Gas Corporation ("Palliser" or the "Company") (TSX VENTURE: PXL) announces that the forbearance agreement between Palliser and its lender has been further extended to January 9, 2015. Separately, Palliser has discontinued the special committee of the board of directors of Palliser and has retained Paradigm Capital Inc. to provide financial advisory services and to assist the Company in identifying and evaluating potential [Read more]
Enbridge Energy Partners Approves Alberta Clipper Pipeline Drop Down Acquisition and 3 Percent Initial 2015 Distribution Increase
HOUSTON, TX--(Marketwired - Dec 23, 2014) - Enbridge Energy Partners L.P. (NYSE: EEP) (NYSE: EEQ) ("EEP" or the "Partnership") announced today that agreement has been reached on the terms of the drop down to the Partnership of the remaining 66.7 percent interest in the U.S. segment of the Alberta Clipper Pipeline from its general partner, Enbridge Energy Company, Inc., ("EECI"), a U.S. affiliate of Enbridge Inc. (NYSE: ENB) ("ENB"), previously announced on September 17, 2014. The drop down is [Read more]