CALGARY, ALBERTA--(Marketwired - March 4, 2015) - Blackbird Energy Inc. ("Blackbird") (TSX VENTURE:BBI) is very pleased to announce that its first two operated horizontal Montney wells, which are located at 06-26-70-07-W6 ("06-26") and 05-26-70-07W6 ("05-26") on Blackbird's 69 section land block at Elmworth, Alberta, Canada, have been successfully completed and tested. The 06-26 and 05-26 wells were drilled into the Middle Montney and Upper Montney intervals respectively, and both wells [Read more]
News
Mapan Energy Ltd. Reports Year End 2014 Operating and Financial Results and Adoption of Advance Notice By-Law
CALGARY, ALBERTA--(Marketwired - March 4, 2015) - Mapan Energy Ltd. ("Mapan" or the "Company") (TSX VENTURE:MPG) is pleased to report its operating and financial results for the three and thirteen months ended December 31, 2014. Mapan will be filing its 2014 audited financial statements and management's discussion and analysis as at and for the three and twelve months ended December 31, 2014, which will contain detailed information regarding the Company's results. When filed, these documents [Read more]
Here’s What Will Send Oil Prices Back Up Again
Oil’s rapid decline since August of last year has been dramatic. To listen to some commentators you would also think it is unprecedented and irreversible. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oil prices will recover, but when they will. Figure 1: Inflation adjusted WTI since Jan 1985. Chart from Macrotrends.net From June [Read more]
Gibson Declares Dividend and Announces a 7% Dividend Increase
CALGARY, ALBERTA--(Marketwired - March 3, 2015) - Gibson Energy Inc. ("Gibson" or the "Company"), (TSX:GEI), announced today that its Board of Directors has approved a quarterly dividend of $0.32 per common share payable on April 17, 2015, to shareholders of record at the close of business on March 31, 2015. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Gibson's dividends are subject to Canadian withholding tax. "Today's [Read more]
Birchcliff Energy Ltd. Mourns the Passing of Board Member Werner (Vern) A. Siemens
CALGARY, ALBERTA--(Marketwired - March 3, 2015) - Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) regrets to announce the passing of Werner (Vern) A. Siemens, on March 2, 2015, a founding shareholder and Director of Birchcliff, at the age of 78. "Vern was an important member of the Birchcliff family and he will be sadly missed" said Jeff Tonken, President and CEO of Birchcliff. "Vern was an experienced oilman, a dedicated and diligent director whose strong leadership has been invaluable to [Read more]
Reports of B.C. LNG’s demise greatly exaggerated, industry alliance boss says
CALGARY - The head of the B.C. LNG Alliance says it's not a matter of if, but when, the province becomes a major global LNG player and he wouldn't be surprised to see at least one project get the green light this year.David Keane took on the industry's naysayers at a Calgary energy conference on Tuesday. "To paraphrase Mark Twain, reports of B.C. LNG's death have been greatly exaggerated," he said. "To the contrary, we are not alarmed by the present volatility in the energy market."High [Read more]
Whitecap Resources Inc. announces increase to credit facilities and provides operational update
CALGARY, March 3, 2015 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that based on the review of our independent 2014 year end reserves report, our lenders have agreed to increase Whitecap's credit facilities by 20% to $1.2 billion from the previous $1.0 billion. The increase is a result of Whitecap's strong drilling results enhanced by the accretive acquisitions completed in 2014, which resulted in significant reserves and production growth [Read more]
Pan Orient Announces 2014 Year-End Heavy Oil Resources for Sawn Lake, Alberta Project of Andora Energy Corporation
CALGARY, ALBERTA--(Marketwired - March 3, 2015) - Pan Orient Energy Corp. (TSX VENTURE:POE), on behalf of its 71.8% owned subsidiary Andora Energy Corporation ("Andora"), is pleased to release the December 31, 2014 National Instrument 51-101 compliant resource evaluation for Andora's oil sands project at Sawn Lake Alberta, Canada, as evaluated by Sproule Unconventional Limited ("Sproule"). The evaluation included all of Andora's Oil Sands Leases at Sawn Lake based on exploitation using Steam [Read more]
Crew Energy Inc. Announces Closing of Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - March 3, 2015) - Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") today announced that it has closed its previously announced bought deal financing (the "Offering"). A total of 16,667,000 common shares of Crew have been issued at a price of $6.00 per share for gross proceeds of approximately $100 million. The Offering was made through a syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc. Crew Energy Inc. is [Read more]
Cenovus announces closing of $1.5 billion bought-deal common share financing
CALGARY, March 3, 2015 /CNW/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) ("Cenovus") has closed its previously announced bought-deal common share financing. A total of 67.5 million common shares were sold at a price of $22.25 per share (the "Offering") for gross proceeds of approximately $1.5 billion. Cenovus intends to use the net proceeds from the Offering to partially fund the company's previously announced $1.8 billion to $2.0 billion capital expenditure program for 2015, to repay [Read more]