CALGARY, July 30, 2014 /CNW/ - Maha Energy Inc. ("Maha") and Palliser Oil & Gas Corporation ("Palliser") (TSXV:PXL) are pleased to announce that they have entered into an amalgamation agreement (the "Amalgamation Agreement") pursuant to which Maha and Palliser will amalgamate (the "Amalgamation") to form a new corporation to be called "Maha Energy Inc." ("New Maha"). Palliser has also closed a minor asset disposition with Maha and entered into two farmout arrangements with [Read more]
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Northern Spirit Resources Inc. Announces Operations Update
CALGARY, ALBERTA--(Marketwired - July 30, 2014) - Northern Spirit Resources Inc. ("Northern Spirit" or the "Company") (TSX VENTURE:NSR) is pleased to provide the following operational update. As announced on July 17, 2014, the Company has drilled, completed and tested 3 horizontal wells (WI 100%) at Klein North. The wells were drilled from a common surface pad, targeting Sparky medium gravity oil. Completion procedures included multi-stage fracture stimulation in each well. All 3 wells are [Read more]
Waldron Energy Corporation Announces Closing of Private Placement Financing
CALGARY, ALBERTA--(Marketwired - July 30, 2014) - Waldron Energy Corporation ("Waldron" or the "Corporation") (TSX:WDN) announces that it has closed the previously announced non-brokered private placement (the "Offering"), which was increased to 5,459,545 common shares issued on a flow‐through basis for gross proceeds of approximately $1.8 million. All other terms and conditions of the Offering remained the same as previously announced. Waldron is a Calgary, Alberta based corporation engaged in [Read more]
ARC Resources Ltd. reports record second quarter results
CALGARY, July 30, 2014 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its second quarter 2014 operating and financial results. Second quarter production averaged a record 110,165 boe per day and funds from operations were a record $295.8 million ($0.93 per share). ARC's unaudited Condensed Interim Consolidated Financial Statements and Notes, as well as ARC's Management's Discussion and Analysis ("MD&A") for three and six months ended June 30, 2014 and 2013, are [Read more]
Painted Pony Announces Closing of $100 Million Disposition of Saskatchewan Assets
CALGARY, ALBERTA--(Marketwired - July 30, 2014) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX:PPY) is pleased to announce that, further to its press release dated July 7, 2014, the Company has closed the sale of its southeast Saskatchewan assets (the "Transaction"), which has an effective date of June 1, 2014, for a total cash consideration of $100 million plus interim adjustments. Painted Pony is now a highly focused Montney natural gas and natural gas liquids producer, [Read more]
Trilogy Energy Corp. Announces Financial and Operating Results for the Three and Six Months-Ended June 30, 2014
CALGARY, ALBERTA--(Marketwired - July 30, 2014) - Trilogy Energy Corp. (TSX:TET) ("Trilogy") is pleased to announce its financial and operating results for the three and six months-ended June 30, 2014. Financial and Operating Highlights Reported sales volumes for the second quarter of 2014 were 9 percent higher at 36,187 Boe/d as compared to 33,135 Boe/d for the previous quarter. Second quarter oil sales volumes increased 28 percent to 9,557 Bbl/d from 7,440 Bbl/d in the previous [Read more]
Strata Oil Identifies Multiple Drilling Locations to Test Cold Production Potential of Cadotte West Land Block
PEACE RIVER, ALBERTA--(Marketwired - July 30, 2014) - Strata Oil & Gas Inc. ("Strata" or the "Company") (OTCQB:SOIGF) announced today that its technical team has provided recommendations to the Board of Directors pursuant to the Cold Production study initiated by the Company relating to the Cadotte West land holdings in the Peace River oil sands region of Alberta. The study, which is ongoing, utilizes existing well data as well as seismic data from lines which have been shot on and around [Read more]
Cenovus oil sands production increases 33%
Cash flow up 37% on higher volumes and prices Combined oil sands production at Foster Creek and Christina Lake averaged almost 125,000 barrels per day (bbls/d) net in the second quarter, up 33% from a year earlier. Production at Christina Lake averaged nearly 68,000 bbls/d net in the second quarter, an increase of 77% when compared with the same period a year earlier as phase E reached its design capacity. Foster Creek production averaged almost 57,000 bbls/d net in the quarter, an [Read more]
MEG Energy Reports Fifth Consecutive Quarter of Record Production Growth and Increased 2014 Production Guidance
CALGARY, ALBERTA--(Marketwired - July 30, 2014) - MEG Energy Corp. (TSX:MEG) today reported second quarter 2014 operational and financial results. Highlights include: Record cash flow from operations of $261.7 million; Record quarterly production of 68,984 barrels per day (bpd), nearly 18 per cent higher than the first quarter and 115 per cent higher than the second quarter of 2013, all while factoring in the impact of planned maintenance on Phases 1 and 2; Christina Lake Phase 2B [Read more]
Penn West’s board, new CFO initiate independent review of accounting practices
CALGARY - Penn West Petroleum Ltd. (TSX:PWT) says its board has initiated an independent review of the company's accounting practices going back several years, after a preliminary internal review by the company's new chief financial officer found inadequate documentation to support how some of its expenses were classified in the past.The Calgary-based company said the review will lresult a restatement of previous financial reports for at least 2012 and 2013, as well as for the first quarter of [Read more]