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]
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Cequence announces operational update
CALGARY, Jan. 21, 2014 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to provide an operational update and a capital budget for the first six months of 2015. As previously forecast, Cequence expects 2014 production to average approximately 11,000 boepd. Following the start-up of the expanded 13-11 facility at Simonette in January, production has reached a rate of 12,000 boepd. Since the sale of Ansell in July, 2014, Cequence has had an active drilling program [Read more]
A winking president teases Republicans, and the Keystone XL pipeline
WASHINGTON - U.S. President Barack Obama delivered a dig at the Keystone XL pipeline and drew a politically revealing standing ovation from Democrats during his state of the union address Tuesday.It illustrated the political headwinds now confronting the Canadian oil-infrastructure project: The president voiced his increasingly blunt disdain, and a vocal cheering section from his party roared in approval.Obama took his latest shot from the biggest political stage of the year, the annual [Read more]
Inter Pipeline Announces $400 Million Capital Expenditure Program for 2015
CALGARY, ALBERTA--(Marketwired - Jan. 20, 2015) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today a $400 million capital expenditure program for 2015 with a primary focus on the expansion of its oil sands transportation and conventional oil gathering businesses. In 2015, organic growth projects are expected to account for approximately $340 million of total capital expenditures. The remainder will be spent on sustaining capital requirements across Inter Pipeline's business [Read more]
Oil services giant Baker Hughes to lay off 7,000 workers
HOUSTON - Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday.The layoffs represent about an 11 per cent cut to the 62,000-plus workers Baker Hughes says it employs worldwide.The announcement came in a conference call after the Houston-based company exceeded analysts' estimates with a record $663 million in net income in the fourth quarter of 2014, more than double its [Read more]
B.C. premier wants more details on spill-response plans for proposed pipeline
VANCOUVER - Oil pipeline builder Kinder Morgan says it is more than willing to share its entire spill-response plan directly with the British Columbia government as it seeks approval for a proposed $5.4-billion pipeline-expansion project.While the energy giant raised concerns over disclosing personal, security or commercially sensitive information, Premier Christy Clark demanded on Tuesday that more details of the safety plan be made public through the National Energy Board."There's always going [Read more]
With Nebraska route cleared, TransCanada takes steps to acquire land for Keystone XL pipeline
LINCOLN, Neb. - TransCanada (TSX:TRP) is moving to acquire the remaining land in Nebraska needed to build its controversial Keystone XL pipeline after the state's high court earlier this month removed a major legal barrier for the planned route.Officials of the Calgary-based company said Tuesday they've filed paperwork in nine counties to acquire access to the remaining land needed to construct, operate and maintain the controversial $8-billion pipeline, which is in its seventh year of [Read more]
Kelt Provides 2014 Production Results and Updates 2014 and 2015 Financial and Operating Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 20, 2015) - Kelt Exploration Ltd. (TSX:KEL) ("Kelt" or the "Company") has released its 2014 production results and has updated its 2014 and 2015 financial and operating guidance. The Company expects to release a summary of its December 31, 2014 engineering reserve evaluation on February 10, 2015 and its audited year-end financial results on March 10, 2015. The oil and gas industry around the world is currently facing a challenging environment after the [Read more]
Marquee Energy Ltd. meets 2014 exit production target and announces first half 2015 capital budget and guidance
CALGARY, Jan. 20, 2015 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQL") is pleased to announce record production which currently exceeds 5,600 boe/d. The company expects an additional 250 boe/d to come on after completing a pump re-configuration on two of its recently drilled wells at Michichi. Given Marquee's continued drilling success, the Company estimates fourth quarter production of approximately 5,250 boe/d and 2014 average production of 4,860 boe/d based on field [Read more]
NuVista Energy Ltd. Announces Revised 2015 Capital Guidance and Non-Core Asset Divestitures
CALGARY, ALBERTA--(Marketwired - Jan. 19, 2015) - NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce that through the fourth quarter of 2014 we have continued to deliver strong production and well results, have sold non-core assets to further strengthen our balance sheet, and are revising our 2015 capital spending plan to maintain financial strength during the current commodity price weakness. Field operations have been strong and steady through the fourth quarter of 2014, with [Read more]