PARIS - The price of oil is poised for a "relatively swift" recovery following the recent collapse to under $50 a barrel, but it will not come close to returning to the highs of past years, the International Energy Agency predicted Tuesday.In a report, the Paris-based organization of 29 major oil-importing nations said the rebound in recent days of the oil price "will be comparatively limited in scope, with prices stabilizing at levels higher than recent lows but substantially below the highs of [Read more]
News
IEA sees Canada crude output growing, but more slowly than thought
CALGARY - The International Energy Agency says Canada's crude output is expected to grow between now and the end of the decade, but not by as much as previously thought.The IEA also says the price of crude is poised to recover soon but won't come close to the levels reached last summer.In its latest report, the Paris-based organization predicts Canada's production will grow to just under five million barrels a day by 2020, about 810,000 barrels a day more than in 2014.However, that is 430,000 [Read more]
QEC: Continued Success at Kakwa With Positive Well Results and New Discovery
CALGARY, ALBERTA--(Marketwired - Feb. 10, 2015) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today on two recently completed wells in the Kakwa-Resthaven area. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "The first well was in the Montney and had excellent results that appear to prove the benefits of an improved completion technique. The second well is a new pool discovery in the uphole Halfway zone." The [Read more]
PrairieSky Royalty Announces Executive Promotion
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - James Estey, Chair of the Board of PrairieSky Royalty Ltd. ("PrairieSky") (TSX:PSK) and Andrew Phillips, President and Chief Executive Officer, are pleased to announce that the Board has promoted Cameron Proctor, PrairieSky's current Vice President, Legal & Corporate Services, to the position of Chief Operating Officer. In his enhanced role, Mr. Proctor will have overall responsibility for the operations of PrairieSky, including transaction [Read more]
Chinook Energy Inc. Announces Its December 31, 2014 Reserves and Provides Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Chinook Energy Inc. ("Chinook" or the "Company") (TSX:CKE) today announced the results of its year-end reserve evaluation effective December 31, 2014 as prepared by its independent evaluator. The Company has also provided an operations update. Chinook's audit of its 2014 annual consolidated financial statements is not yet complete and accordingly all financial amounts referred to in this news release are unaudited and represent management's [Read more]
Long Run Exploration Ltd. Announces Revised 2015 Capital Budget, Suspension of Dividend and Update on Operations
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) announces a revised 2015 capital budget, suspension of dividend and update on operations. Current Economic Environment & Dividend Suspension As a result of a volatile and uncertain commodity price environment, and current oil and natural gas prices significantly below our previously forecast 2015 assumptions, Long Run's Board of Directors and management have prudently [Read more]
Arsenal Energy Inc. Releases Yearend Reserves and Declares Dividend
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Arsenal Energy Inc. (TSX:AEI)(OTCQX:AEYIF) -- Dividend The Board of Directors ("BOD") of Arsenal Energy Inc. ("Arsenal" or the "Company") has declared a dividend $0.03 per common share. The dividend is payable in cash, or if a shareholder has enrolled in Arsenal's Dividend Reinvestment Plan, in shares on February 27, 2015 to shareholders of record at the close of business on February 17, 2015. The ex-dividend date is February 12, 2015. With [Read more]
Raging River Exploration Inc. Announces 49% Increase in 2014 Year End Reserves, $36 Million Dodsland Viking Acquisition, Operations Update and Increased 2015 Guidance
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to report a year over year increase of 49% to proven plus probable reserves to 63.6 mmboe. Proven Developed Producing ("PDP") Finding, Development and Acquisition ("FD&A") costs were $25.18/boe resulting in a recycle ratio 2.5 times demonstrating the quality of the Company's continuously expanding drilling inventory. The Company is also pleased to announce [Read more]
Crew Energy Announces $100 Million Bought Deal Equity Financing
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Crew Energy Inc. (TSX:CR) ("Crew" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc., (collectively the "Underwriters") pursuant to which the Underwriters have agreed to purchase on a bought deal basis 16,667,000 common shares ("Common Shares") of Crew at a price of $6.00 per Common Share for aggregate gross proceeds of approximately [Read more]
Elkwater Resources Ltd. Provides an Operations Update and Announces 2015 Capital Budget and Guidance
CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) - Elkwater Resources Ltd. ("Elkwater" or the "Company") (TSX VENTURE:ELW) is pleased to provide an operations update and announce details of its full-year 2015 capital budget and guidance. OPERATIONS UPDATE During the fourth quarter of 2014, the Company invested approximately $6.5 million in the drilling and development of its newly acquired properties in Drayton Valley, Brazeau and Killam, targeting light oil from the Cardium and Belly River [Read more]