Maintains 2014 production guidance of 101,000 - 106,000 boe per day CALGARY, July 29, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX: PWT) (NYSE: PWE) ("Penn West", "we", "our", "us" or the "Company") today reported second quarter 2014 average production of 108,130 barrels of oil equivalent ("boe") per day (64 percent oil and liquids) and maintained 2014 production guidance of 101,000 - 106,000 boe per day. Penn West also reported other key operating results for the second quarter of 2014 and [Read more]
News
Penn West Announces Management-Initiated Internal Review of Accounting Practices and Decision to Restate Certain Historical Financial Statements
No impact on previously disclosed cash and debt balances Penn West anticipates possible delay in reporting second quarter financial results CALGARY, July 29, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST", the "COMPANY", "we", "us" or "our") announced today that the Audit Committee of the Company's Board of Directors is conducting a voluntary, internal review of certain of the Company's accounting practices. While this review is not yet completed, the Board of [Read more]
Baytex Announces Sale of North Dakota Assets
CALGARY, ALBERTA--(Marketwired - July 29, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announces that it has entered into an agreement to sell its North Dakota assets (the "Assets") to SM Energy Company, effective July 1, 2014, for gross proceeds of approximately $357 million (US$330.5 million). The transaction is expected to close toward the end of the third quarter with after tax net proceeds from the sale, estimated at $275 million, to be applied against outstanding bank [Read more]
Cardinal Energy Ltd. Announces Significant Acquisition, Equity Financing and Dividend Increase
CALGARY, ALBERTA--(Marketwired - July 29, 2014) - Cardinal Energy Ltd. ("Cardinal") (TSX:CJ) is pleased to announce that it has signed a purchase and sale agreement to acquire approximately 1,900 Boe/day of long life oil production in the Wainwright area of Alberta (the "Acquisition"). The Acquisition is comprised of 99% crude oil, has an average working interest of 95.5%, includes associated infrastructure, is 99% operated and has a base decline rate of 5% to 7%. The Acquisition is expected [Read more]
US urged to unleash “energy diplomacy” on world stage
The U.S. has long opposed using resource assets as a foreign policy tool but, with its new-found energy wealth, that may be changing RIYADH, Saudi Arabia/ Troy Media/ - The 'invisible hand' is under threat in the very country known by many – if not all – as a bastion of free market economy. For years, even decades, the U.S. has been discouraging the very idea of resource nationalism, insisting instead that free market forces control global energy dynamics. It has always been opposed to [Read more]
Pine Cliff Energy Ltd. Enters into a $33.25 Million Agreement to Acquire Carrot Creek/Edson Area Oil and Natural Gas Assets
CALGARY, ALBERTA--(Marketwired - July 29, 2014) - Pine Cliff Energy Ltd. ("Pine Cliff") (TSX VENTURE: PNE) is pleased to announce that it has entered into a binding agreement (the "Agreement") dated July 29, 2014 to acquire (the "Transaction") oil and natural gas assets in one of its core areas of Carrot Creek/Edson in the Province of Alberta (the "Assets") for cash consideration of $33.25 million, prior to any adjustments. The cash consideration is expected to be financed by a combination of [Read more]
Marquee Energy Ltd. announces corporate update
CALGARY, July 29, 2014 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQL") (OTCQX: MQLXF) is pleased to announce an operations update and the renewal of its credit facility. Marquee has entered into a syndicated credit facility agreement with two Canadian Chartered banks that provides a total credit availability of $95 million, comprised of a revolving and operating facility of up to $80 million, plus an acquisition facility of up to $15 million. The Company's net debt at [Read more]
Tuscany Energy Ltd. Confirms Sales Volumes for Q2 2014 and a Five Well Heavy Oil Drilling Program
CALGARY, ALBERTA--(Marketwired - July 29, 2014) - Tuscany Energy Ltd. ("Tuscany") (TSX VENTURE:TUS) is pleased to report that the Company's average sales volumes for the second quarter of 2014 were approximately 750 BOED. Having closed its recent $3.0 million financing, the Company has commenced drilling operations on a heavy oil drilling program consisting of five wells in west-central Saskatchewan. Tuscany is the operator of all of these wells. Drilling has commenced on the first of [Read more]
Spyglass Resources Corp. Announces Management Appointment
CALGARY, ALBERTA--(Marketwired - July 29, 2014) - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) announces that effective July 31, 2014, Bob Guy, Vice President of Production and Operations will be leaving the organization. The Company is pleased to announce that Brad Likuski has been promoted to Vice President, Production. Mr. Likuski is a professional engineer with 24 years of experience operating oil and natural gas properties across the Western Canadian [Read more]
Talisman Energy Second Quarter Results
CALGARY, ALBERTA--(Marketwired - July 29, 2014) - Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) reported its operating and unaudited financial results for the second quarter of 2014. All values are in US$ unless otherwise stated. "During the past two years we have focused our efforts and capital on a strong portfolio of long life assets in our Americas and Asia-Pacific core regions," said Hal Kvisle, President and CEO. "We have invested to grow production and cash flow1 from our best assets, [Read more]