CALGARY - It's been a rough week for many in the oilpatch.Talisman Energy Inc. (TSX:TLM), ConocoPhillips Canada and Nexen Energy ULC have all announced job cuts this week.Talisman, which is set to be taken over by Spain's Repsol SA in the coming months, is reducing its workforce by 10 to 15 per cent, mostly at its Calgary head office. That amounts to between 150 and 200 jobs — both contractors and employees."We've reduced our 2015 capital spending program. With that comes reduced activities [Read more]
News
Capital Oil Ltd. Announces Private Placement
Capital Oil Ltd is pleased to announce a non-brokered $500,000 CAD private placement through issuance of 2,000,000 shares at $0.25 per share. The minimum investment of $5,000 CAD for 20,000 shares. The proceeds will be used for future acquisitions of low-production oil and gas wells with identifiable upside potential. Capital Oil Ltd. is currently looking for people & partners within Alberta who are interested in owning oil & gas properties with us. The recent decline in oil prices have [Read more]
Whitecap Resources Inc. Announces Fourth Quarter and Year End 2014 Results
CALGARY, March 17, 2015 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to report its operating and audited financial results for the year ended December 31, 2014. Whitecap's audited consolidated financial statements and related Management's Discussion and Analysis ("MD&A") and Annual Information Form ("AIF") will be available at www.sedar.com and on our website at www.wcap.ca. FINANCIAL AND OPERATING HIGHLIGHTS Three months ended [Read more]
Quicksilver Resources Files Voluntary Chapter 11 Petitions to Facilitate Financial Restructuring
FORT WORTH, Texas, March 17, 2015 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. (OTCQB:KWKA) announced today that the Company and its U.S. subsidiaries Barnett Shale Operating LLC, Cowtown Drilling, Inc., Cowtown Gas Processing L.P., Cowtown Pipeline Funding, Inc., Cowtown Pipeline L.P., Cowtown Pipeline Management, Inc., Makarios Resources International Holdings LLC, Makarios Resources International Inc., QPP Holdings LLC, QPP Parent LLC, Quicksilver Production Partners GP LLC, Quicksilver [Read more]
Ironhorse Announces 2014 Reserves
CALGARY, March 17, 2015 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces its 2014 year-end reserves information The Company's year-end reserves evaluation with the effective date of December 31, 2014 was prepared by GLJ Petroleum Consultants Ltd. and Sproule Associates Limited in accordance with definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and NI 51-101 "Standards of Disclosure for Oil [Read more]
Athabasca Oil Corporation Announces Executive Changes and Cost Initiatives Update
CALGARY, March 17, 2015 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or the "Company") announces the separation of the Chair of the Board and Chief Executive Officer ("CEO") role effective April 20, 2015. Additionally, in conjunction with the strategic initiatives outlined in the fall the Company has now also concluded a thorough review and realignment of its corporate cost structure. Executive Changes On October 1, 2014 Mr. Buchanan, Board Chair, was appointed President and [Read more]
Oilpatch firms selling stock to shore up finances, but who’s buying?
CALGARY - Energy firms have been looking to raise billions in financing by selling big chunks of their own stock — betting that investors smell a buying opportunity.There's been a flurry of equity offerings in recent weeks as the oilpatch looks for ways to cope with low oil prices.Over the past month alone, Encana Corp. (TSX:ECA), Cenovus Energy Inc. (TSX:CVE) and Baytex Energy Corp. (TSX:BTE) have collectively announced about $3.3 billion in "bought deals." All three have said they'd use the [Read more]
Canada’s transportation safety board says new standards for oil tank cars should come sooner
TORONTO - Canada needs to implement tougher standards for oil trains earlier than a 2025 target, the transportation safety board said Tuesday.The government proposed tougher standards for tank cars this month in response to a string of fiery crashes. The new proposal would require the cars to have a layer of thermal protection and thicker steel walls. It said the new standards should be phased in by 2025.But in a report about a fiery March 7 derailment in northeastern Ontario, the Transportation [Read more]
Nexen Energy ULC announces organizational changes in response to industry downturn
CALGARY, March 17, 2015 /CNW/ - Nexen Energy ULC (Nexen), a wholly owned subsidiary of CNOOC Limited, has announced organizational changes that will reduce its North American workforce by approximately 350 employees. Nexen UK has also initiated a consultation process to adjust its staffing levels by approximately 50 employees. "In response to the recent industry downturn that has affected all companies in the energy sector, a decision was made to conduct a thorough review of our organization [Read more]
Canamax Announces 111% Increase in Proven Plus Probable Reserves During Period Ended December 31, 2014, and Provides Update on Significant New Wapiti Well and Bank Loan Facility
CALGARY, AB--(Marketwired - March 17, 2015) - Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) is pleased to announce the results of its December 31, 2014 oil and gas reserves evaluation and provide updates on the Company's recently completed horizontal well at Wapiti and bank loan facility. Canamax's reserves were evaluated at December 31, 2014 to reflect the year-end change from the Company's previous February 28, 2014 year-end to December 31, 2014. The significant [Read more]