CALGARY, ALBERTA--(Marketwired - Oct. 21, 2014) - Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the "Company") is pleased to announce the completion of its evaluation well at Wood Mountain, Saskatchewan. The well was drilled, cored, logged and cased to a total depth of 1950 meters, successfully intersecting the Bakken, Torquay and Birdbear zones and terminating in the Duperow, at an aggregate cost of $1,200,000. On October 16th, the Company released the drilling rig [Read more]
News
B.C. government set to announce tax rate for proposed LNG industry
VICTORIA - British Columbia's government has introduced a new income tax for its liquefied natural gas industry that starts at 1.5 per cent and increases to five per cent, two per cent lower than the government had originally proposed.Finance Minister Mike de Jong says the new tax structure is competitive and provides the certainty companies need to make final investment decisions in developing LNG plants in B.C.He says the tax includes a reduced rate from what was announced last February in [Read more]
N.B.’s new premier to oilpatch: support for Energy East has not wavered
CALGARY - New Brunswick's new premier said Monday he's looking to assure Alberta's oilpatch that even though the government has changed, its support for the Energy East pipeline has not.Brian Gallant is visiting Calgary this week in his first official visit since being elected premier about a month ago.The $12-billion Energy East project topped the agenda in Gallant's meeting with his Alberta counterpart, Jim Prentice on Monday. On Tuesday, he's to meet with top executives at TransCanada [Read more]
Mapan Energy Ltd. Graduates to Tier 1 of the TSX Venture Exchange
CALGARY, ALBERTA--(Marketwired - Oct. 20, 2014) - Mapan Energy Ltd. ("Mapan" or the "Corporation") (TSX VENTURE:MPG) is pleased to announce that it has graduated to Tier 1 of the TSX Venture Exchange. Mapan is expected to commence trading as a Tier 1 issuer on Wednesday, October 22, 2014. Tier 1 is reserved for the most advanced issuers with the most significant financial resources on the TSX Venture Exchange. About Mapan Mapan owns production, lands and P&NG rights in two areas of the [Read more]
Tourmaline Announces Start-Up of Two Gas Facilities and Record Production Levels
CALGARY, AB--(Marketwired - October 20, 2014) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that two new gas facilities, the Musreau Alberta and Doe B.C. 50 mmcfpd plant expansions, were successfully commissioned last week. With the start up of the two projects, daily production has reached a record 136,000 boepd. The Doe B.C. facility start-up has allowed for a 20 mmcfpd net production increase thus far, with a further 30 mmcfpd to be realized in [Read more]
Relentless Resources Announces Heathdale Glauconite Oil Well Test
CALGARY, ALBERTA--(Marketwired - Oct. 20, 2014) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) is pleased to announce initial test results from the Relentless Heathdale 8-7-27-9 W4 horizontal Glauconite oil well (the "Well"). The 100% working interest (before payout) farm-in Well was drilled over 8 days to a total measured depth of 2334 mKB and completed with a multistage, water-based, fracture completion. The Well was then equipped to pump and tied in with all [Read more]
B.C.’s LNG green law expected, followed by tax legislation
VICTORIA - New legislation introduced in British Columbia requires liquefied-natural-gas plants to meet emission standards or face penalties and makes the industry the cleanest in the world, says Environment Minister Mary Polak.Polak tabled the Greenhouse Gas Industrial Reporting and Control Act Monday, saying it will set the province's emission benchmark at 0.16 tonnes of carbon dioxide for each tonne of LNG produced, which is lower than any other LNG facility in the world.She said it will test [Read more]
Mountainview Energy Ltd. announces commitment for new credit facility
CUT BANK, MT, Oct. 20, 2014 /CNW/ - Mountainview Energy Ltd. ("Mountainview" or the "Company") is pleased to announce that its wholly-owned subsidiary, Mountain Divide, LLC ("Borrower") has entered into a commitment letter (the "Commitment") with Wells Fargo Energy Capital, Inc. (the "Lender") with respect to a new term facility (the "New Facility") and a US$16 million unsecured subordinated convertible promissory note (the "Note") to replace: (a) the current senior secured advancing credit [Read more]
Blackbird Energy Inc. Announces Spudding of First Middle Montney Well at Elmworth and the Closing of $7.0 Million Non-Brokered Tranche of Ongoing Private Placement
CALGARY, ALBERTA--(Marketwired - Oct. 20, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that it has spud its first Middle Montney well at Elmworth. The well was spud from surface location 14-14-70-07W6 and will be drilled to a vertical depth of approximately 2,330 meters and a lateral length of approximately 2,000 meters to location 6-26-70-07W6. Drilling operations are expected to take approximately 30 days to complete. Post completion [Read more]
As oilpatch reporting season begins, crude price drop top of mind
CALGARY - The recent rout in oil prices will likely be top of mind for investors as Canada's top oilpatch players release their third-quarter results over the next few weeks.The steep drop in the key U.S. benchmark crude — to about US$80 a barrel from around US$95 just a month ago — won't be evident in companies' financial reports for the quarter ended Sept. 30.But analysts and investors will be paying keen attention to the mood of top brass on quarterly conference calls and looking for signals [Read more]