CALGARY, ALBERTA--(Marketwired - Jan. 22, 2015) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that Mr. Craig Wiebe has been appointed to the position of Vice President, Exploration. Prior to his appointment as Vice President, Exploration, Mr. Wiebe held the position of Consulting Geologist with Blackbird. Mr. Wiebe is a Professional Geologist with over 20 years exploration and development experience, the majority being in unconventional [Read more]
News
Toro Announces 2015 Capital Budget and Strategy
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2015) - Toro Oil & Gas Ltd. (TSX VENTURE:TOO) ("Toro" or the "Company") announces its approved capital budget and strategic plan for 2015. In light of the current low commodity price environment and limited visibility on timing for recovery, Toro's Board of Directors approved a 2015 conservative capital expenditure program of $12 million. The Company intends to limit capital spending in the first half of the year and defer drilling expenditures to [Read more]
Crushing The U.S. Energy Export Dream
Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time. Exporting gas is dumb. Exporting oil is dumber. The U.S. imports almost half of the crude oil that we use. We import 7.5 million barrels per day. The chart below shows the EIA prediction that production will slowly fall and imports will rise (AEO 2014) after 2016. This means that the U.S. will never be self-sufficient in oil. Not even close. What about the tight oil [Read more]
Pengrowth Announces Significant 2014 Achievements and Proactive Measures to Ensure Its Financial Health and Sustainability in a Low Commodity Price Environment
CALGARY, ALBERTA--(Marketwired - Jan. 21, 2015) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announced significant accomplishments in 2014 including: Production performance exceeding the top end of production guidance of 71,000 to 73,000 barrels of oil equivalent per day (boe/d) even with mature asset sales of 1,400 boe/d. Superior execution costs and production rates on Pengrowth's conventional assets. Successfully completing the construction, commissioning and first steam [Read more]
Legacy Oil + Gas Inc. announces appointment of James Bertram as lead director
CALGARY, Jan. 21, 2015 /CNW/ - Legacy Oil + Gas Inc. ("Legacy") (TSX:LEG) is pleased to announce that the Board of Directors of Legacy has appointed James Bertram as lead director. Mr. Bertram's role as lead director will be to guide the effective and independent operation of the Board and act as chief liaison between the Board and management. Mr. Bertram has been an independent director of Legacy since July 2009. SOURCE Legacy Oil + Gas Inc. [Read more]
Prentice says austerity will start at top in bid to balance budget amid low oil
EDMONTON - Premier Jim Prentice says with low oil prices knocking the legs out from under the Alberta economy, austerity will start at the top."We can't expect people in the public sector to tighten their belts unless they see the premier, his office, and the people that work with him in government tightening their belts," Prentice told reporters Wednesday during an announcement at the Edmonton International Airport.He declined to be more specific and wouldn't say if the austerity will include [Read more]
Southern Pacific Files for Creditor Protection Under the CCAA
CALGARY, ALBERTA--(Marketwired - Jan. 21, 2015) - Southern Pacific Resource Corp. (TSX:STP) announces today that it and certain of its subsidiaries (and partnership), Southern Pacific Energy Ltd., 1614789 Alberta Ltd., 1717712 Alberta Ltd. and Southern Pacific Resource Partnership (collectively "Southern Pacific" or the "Company") have obtained creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA") pursuant to an Order granted on January 21, 2015 by the Court of [Read more]
Perpetual Energy Inc. Exceeds 2014 Exit Rate Target and Provides Operational, Capital Spending and Hedging Update
CALGARY, Jan. 21, 2015 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce that strong natural gas production in all of the Company's key operating areas combined for a 2014 exit production rate (December average), of approximately 24,150 boe/d, exceeding Perpetual's target exit rate of 23,400 boe/d and representing 30 percent growth over the Company's 2013 exit rate. Perpetual is also pleased to announce continued positive [Read more]
CAPP predicts oil investment will drop by a third as prices languish
FORT MCMURRAY, Alta. - The Canadian Association of Petroleum Producers is expecting oilpatch investment to drop by a third — or $23 billion — this year compared with 2014, while output is seen growing at a slower clip than previously predicted.The oil and gas industry group normally releases its annual production outlook every June, but decided to provide a mid-year update on Wednesday given the "meaningful changes" that have occurred in crude oil markets, CAPP president Tim McMillan said in an [Read more]
Gear Energy Ltd. Announces 2014 Operational Update and Revised 2015 Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 20, 2015) - Gear Energy Ltd. ("Gear") (TSX:GXE) announces operational highlights for the fourth quarter of 2014 and revised capital guidance for the first half of 2015. 2014 Operational update Gear achieved record field production of approximately 7,275 boe/d in the fourth quarter of 2014. Estimated sales production for the quarter came in slightly lower at 7,000 boe/d due to rail car availability and pipeline apportionments. Fourth quarter sales [Read more]