CALGARY, Dec. 22, 2014 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard" or the "Company") (TSX: NBZ) announces a revised capital program for 2015 in response to the significant decline in crude oil prices. The capital program for 2015 has been reduced by 40% from $215 million to $130 million, which maintains the Company's financial strength while supporting estimated 2015 production of 23,000 boe/d and the monthly dividend of $0.08 per share. Revised 2015 capital [Read more]
News
Marquee Energy Ltd. Announces Normal Course Issuer Bid
CALGARY, Dec. 22, 2014 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQL") announces that it intends to implement a normal course issuer bid ("NCIB") through the facilities of the TSX Venture Exchange ("TSXV"). Pursuant to the NCIB, Marquee would be able to purchase for cancellation up to 6,017,034 (5%) of its common shares (the "Shares") issued and outstanding for a one year period, at prevailing market prices. Subject to regulatory approval, the one year period will commence [Read more]
Encana Unlocks Value From Montney Midstream Assets With Innovative Sale Agreement
CALGARY, AB--(Marketwired - December 22, 2014) - Encana Corporation (TSX: ECA) (NYSE: ECA) Encana Corporation ("Encana") announced today it has reached an agreement with Veresen Midstream Limited Partnership ("Veresen Midstream"), a 50/50 limited partnership of Veresen Inc. and affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR"), under which Encana and Cutbank Ridge Partnership ("CRP"), a partnership between Encana and Cutbank Dawson Gas Resources Ltd., a subsidiary of Mitsubishi [Read more]
Veresen Announces the Formation of Veresen Midstream with KKR and a $5 Billion Midstream Expansion for Encana and Mitsubishi
CALGARY, ALBERTA--(Marketwired - Dec. 22, 2014) - Veresen Inc. ("Veresen") (TSX:VSN) is pleased to announce the formation of a new entity, Veresen Midstream Limited Partnership ("Veresen Midstream"), which will be owned equally by Veresen and affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR"), a global investment firm. Veresen Midstream has entered into definitive agreements to acquire certain natural gas gathering and compression assets supporting Montney development in the Dawson [Read more]
Zargon Oil & Gas Ltd. Announces the Closing of the Hamilton Lake Property Sale, Revises 2015 Capital Budget and Dividends and Provides an ASP Project Update
CALGARY, ALBERTA--(Marketwired - Dec. 22, 2014) - Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon" or the "Company") announces measures to enhance its financial position, during what is expected to be a challenging 2015 price environment, through a completed Hamilton Lake property sale, a reduced 2015 conventional capital budget and effective January 2015, a reduced dividend of $0.03 per common share per month. Production guidance and a Little Bow Alkaline Surfactant Polymer ("ASP") [Read more]
Bellatrix Announces a Revised 2015 Capital Budget of $300 Million, Updated 2015 Production Guidance, and Achievement of 2014 Exit Rate Production Guidance
CALGARY, Dec. 22, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) announces a revised 2015 capital budget focused on completing its strategic infrastructure initiatives and drilling high rate of return liquids-rich natural gas development opportunities, while maintaining a strong balance sheet. Bellatrix is also pleased to announce it has achieved its 2014 exit rate production guidance. In light of the recent rapid declines in crude oil prices, Bellatrix [Read more]
Harper and Prentice talk about energy sector during “challenging times”
CALGARY - Stephen Harper held a private meeting Sunday with Alberta Premier Jim Prentice in Calgary.Only a few broad details about the session were disclosed in a short news release from the Prime Minister's Office.It stated the two leaders focused on "the provincial, federal and global economies and on working together to keep Canada's energy sector strong through challenging times."The release said they also agreed that "all levels of government must continue to take steps to reduce greenhouse [Read more]
Journey Energy Inc. reduces 2015 capital budget and amends dividend policy
CALGARY, Dec. 21, 2014 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") announces that its Board of Directors has approved a reduction to the 2015 capital program to $70 million from $90 million and has amended its dividend policy to reflect a monthly dividend of $0.025 per share (previously $0.06 per share) beginning with the dividend payment for February 16, 2015. Journey emerged from its IPO in June of 2014 with the strongest balance sheet in their history and these [Read more]
Shoreline Energy Corp. Announces Board of Director Change
CALGARY, ALBERTA--(Marketwired - Dec. 21, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") announces the resignation of Mr. Peter Henry from the board of directors of the Corporation. On Friday December 19, Mr. Henry gave notice of his resignation, effective immediately so that he may pursue new employment opportunities. Mr. Henry has been with the Corporation since its inception and the remaining board members wish to use this opportunity to thank Mr. Henry for his [Read more]
Saudi petroleum minister says there is no conspiracy behind drop in oil prices
ABU DHABI, United Arab Emirates - Saudi Arabia's oil chief says that allegations the kingdom conspired to bring oil prices down to harm its neighbours are false.Petroleum Minister Ali Naimi said at an oil summit in the United Arab Emirates on Sunday that "the best thing for everybody is to let the most efficient produce."His remarks were likely meant to alleviate concerns by some of the oil giant's neighbours that the kingdom is forcing lower oil prices to damage their economies.An OPEC meeting [Read more]