CALGARY - Talisman Energy Inc. (TSX:TLM) says a wildfire burning in northeastern B.C. has forced the evacuation of its Ojay gas plant and shut in about 2,000 to 3,000 barrels per day of production. Spokesman Brent Anderson says authorities issued an evacuation order on Wednesday and that relatively few workers are affected. He says the fire is burning about 12 kilometres from the facilities, which are south of Dawson Creek. Meanwhile, Shell Canada Ltd. says it has also shut in a few [Read more]
News
Oil price gives up most gains of previous day as supply worries continue to ease
The price of oil began to fall again on Friday, giving up most of the gains it had made the previous day in the first rally in two weeks.Benchmark U.S. crude for August delivery was down 54 cents to $102.37 a barrel at 0815 GMT in electronic trading on the New York Mercantile Exchange. The contract closed up 64 cents at $102.93 a barrel on Thursday.Oil prices shot up in the last month to a 10-month high over concerns that strife in Iraq might disrupt supplies. However, they have since been [Read more]
Waldron Energy Corporation Announces Private Placement Financing
CALGARY, ALBERTA--(Marketwired - July 11, 2014) - Waldron Energy Corporation ("Waldron" or the "Corporation") (TSX:WDN) announces that it will enter into subscription agreements regarding a non‐brokered private placement for gross proceeds of approximately $1.5 million, representing a maximum of approximately 4,600,000 common shares issued on a flow‐through basis ("Flow‐Through Shares") at $0.33 per share. Waldron will use the proceeds from the sale of the Flow‐Through Shares on eligible [Read more]
Another big oil outage would strain supply
The energy world is entering a new, dangerous phase RIYADH, Saudi Arabia/ Troy Media/ - The world may soon be experiencing a crude oil crunch. There is no denying, of course, that the world is in the midst of a shale revolution. In fact, according to BP, the U.S. today has 44.2 billion barrels of oil reserves – some 26 per cent higher than it previously thought. The U.S. Energy Information Administration has also recently increased its estimate of U.S. reserves to 33.4 billion barrels, or [Read more]
Inter Pipeline Announces Major Expansion of Mid-Saskatchewan Pipeline System
CALGARY, ALBERTA--(Marketwired - July 10, 2014) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today the execution of binding commercial agreements supporting a $100 million expansion of its Mid-Saskatchewan pipeline system. In aggregate, the new agreements are expected to generate approximately $25 million to $30 million in incremental EBITDA on an annual basis. Five oil producers have entered into ship or pay contracts to backstop the project with terms ranging from 4 to 10 [Read more]
Bonavista Energy Corporation Announces Closing of Bought Deal Financing and Ansell Area Asset Acquisition
CALGARY, ALBERTA--(Marketwired - July 10, 2014) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to announce that it has completed its previously announced bought deal financing for gross proceeds of approximately $201 million (the "Offering"). Pursuant to the Offering, Bonavista, through a syndicate of underwriters led by CIBC and including RBC Capital Markets, Scotiabank, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Peters & Co. Limited, AltaCorp [Read more]
Tuscany Announces Increase in Size of Offering to $3.0 Million and Filing of Final Prospectus
CALGARY, ALBERTA--(Marketwired - July 10, 2014) - Tuscany Energy Ltd. ("Tuscany" or the "Corporation") (TSX VENTURE:TUS) is pleased to announce that it has filed and received a receipt for its final short form prospectus in connection with its previously announced public offering of units ("Units") and common shares ("Common Shares") of the Corporation to be issued on a flow-through basis in respect of Canadian development expenses (the "CDE FT Shares") at a price of $0.40 per Unit or CDE FT [Read more]
Elkwater Resources Ltd. Announces Closing of Recapitalization and Appointment of New Management Team
CALGARY, ALBERTA--(Marketwired - July 10, 2014) - Elkwater Resources Ltd. (TSX VENTURE:ELW) ("Elkwater" or the "Corporation") is pleased to announce that it has received the written consent of a majority of its shareholders to: (i) its previously announced non-brokered private placement of $25 million (the "Private Placement"); and (ii) the appointment of a new management team and board of directors (collectively, the "New Management Team"). Elkwater is also pleased to announce that it has [Read more]
PanTerra Enters Into Agreement to Acquire Gas Assets in the Northern Alberta Foothills
CALGARY, ALBERTA--(Marketwired - July 9, 2014) - PanTerra Resource Corp. ("PanTerra" or the "Corporation") (TSX VENTURE:PRC) is pleased to announce that it has entered into a purchase and sale agreement with an arm's length industry participant (the "Purchase and Sale Agreement") to acquire (the "Acquisition") certain natural gas assets located in the Western Canadian foothills areas of Copton and Narraway, Alberta (the "Assets"), effective as of June 1, 2014, for a purchase price of $2.4 [Read more]
Oil falls near US$102 a barrel, 9th straight decline despite Mideast tensions
NEW YORK - The price of oil fell for the ninth straight day Wednesday as global supplies continue to flow despite unrest in the world's most important oil-producing region.In the Middle East, the insurgency in Iraq is far from resolved, but hasn't halted oil exports and the fighting now seems unlikely to spread to Iraq's major oilfields. Meanwhile, tensions between Israel and Hamas have escalated in the past week, but aren't threatening any major oil production.On the supply side, Libyan crude [Read more]