WASHINGTON - Frustrated by yet another regulatory delay, the company behind the stalled Keystone XL pipeline project is delivering a message in the U.S. capital: it's getting involved in the rail business. It might be costlier and dirtier, but until the pipeline gets approved, the company says shipping oil on trains might have to do as a Plan B. TransCanada Corp. president Russ Girling is in New York and Washington this week, telling policy-makers and news outlets that the company is [Read more]
News
US vice-president says Cyprus poised to transform eastern Med into global hub for natural gas
NICOSIA, Cyprus - U.S. Vice-President Joe Biden on Thursday underscored Cyprus' potential to become key provider of natural gas to Europe, saying that newly discovered offshore reserves of the fossil fuel represented a unique opportunity for the divided island nation."Cyprus is poised to become a key player ... transforming the eastern Mediterranean into a new global hub for natural gas," Biden said as he toasted his host, Cyprus President Nicos Anastasiades, at lunch in the presidential [Read more]
The California Shale Bubble Just Burst
The great hype surrounding the advent of a shale gas bonanza in California may turn out to be just that: hype. The U.S. Energy Information Administration (EIA) – the statistical arm of the Department of Energy – has downgraded its estimate of the total amount of recoverable oil in the Monterey Shale by a whopping 96 percent. Its previous estimate pegged the recoverable resource in California’s shale formation at 13.7 billion barrels but it now only thinks that there are 600 million barrels [Read more]
Sunshine Oilsands Ltd. Announces Launch of US $325 Million Offering of Senior Secured Notes
CALGARY, Alberta and HONG KONG, May 22, 2014 /CNW/ - Reference is made to the announcement of Sunshine Oilsands Ltd. ("Sunshine" or the "Corporation"; HKEX: 2012; TSX: SUO) dated May 19, 2014 (the "Announcement"). Sunshine is pleased to announces that on May 22, 2014 in Hong Kong (May 22, 2014 in Calgary) it intends to offer (the "Offering") US $325,000,000 aggregate principal amount of senior secured notes of the Corporation maturing in 2019 (the "Notes"). The terms and conditions of the [Read more]
Questfire Energy Corp. Announces 2014 First Quarter Financial Results
CALGARY, ALBERTA--(Marketwired - May 22, 2014) -Questfire Energy Corp. (the "Corporation" or "Questfire") (TSX VENTURE:Q.A)(TSX VENTURE:Q.B) is pleased to announce that it has filed on SEDAR its unaudited financial statements and related management's discussion and analysis ("MD&A") for the three month period ended March 31, 2014. Financial and Operating Highlights Three months ended March 31, 2014 2013 Financial Oil and natural gas [Read more]
Donnycreek Reports Interim Reserves at March 31, 2014
CALGARY, ALBERTA--(Marketwired - May 22, 2014) - Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports the results of its March 31, 2014 Evaluation of Oil and Gas Reserves on its Alberta oil and gas properties (the "McDaniel Report"), as evaluated by McDaniel & Associates Consultants Ltd. ("McDaniel") in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. A summary of the Company's reserves volumes according to [Read more]
Hemisphere Energy Announces Q1 2014 Financial and Operating Results
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2014) - Hemisphere Energy Corporation (TSX VENTURE:HME) ("Hemisphere" or the "Company") is pleased to announce its financial and operating results for the three months ended March 31, 2014. Q1 2014 Achievements and Financial Highlights Achieved quarterly average production of 567 boe/d (86% oil and NGL), a 37% increase over the same period in 2013. Generated a record $3.6 million in petroleum and natural gas revenue. Increased funds [Read more]
Connacher Announces New First Lien Term Loan Facility
CALGARY, May 22, 2014 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX; "Connacher" or the "Company") stated today that it has placed the previously announced first lien term loan facility in an aggregate principal amount of US dollar equivalent of C$140 million (the "Term Loan Facility"). The Term Loan Facility will be placed with a syndicate of institutional investors, bears interest at LIBOR plus 6% (1% LIBOR floor) and is expected to close and be funded on or about May 27, 2014, subject to [Read more]
Kitsault Energy Proposes a Dedicated Energy Corridor and Energy Export Terminal Near Kitsault, British Columbia, Canada
VANCOUVER, Canada--(BUSINESS WIRE)--Kitsault is located 800 km (500 miles) north of Vancouver, British Columbia and 115 km (75 miles) north of Prince Rupert, British Columbia, Canada. It is a purpose-built resource community with complete community infrastructure and housing for nearly 1,000 residents. With nearly 350 acres of industrial and residential land, full B.C. Hydro service, and deep water for a port, Kitsault makes both economic and environmental sense as the preferred location to be [Read more]
Blackbird Energy Inc. Announces Appointment of William C. Macdonald to Board of Directors
CALGARY, ALBERTA--(Marketwired - May 21, 2014) - Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is very pleased to announce the appointment of William C. Macdonald to its board of directors. Mr. Macdonald has over thirty years of petroleum land management experience in Western Canada. He is currently the President of Bilmac Resources, an oil and gas consulting firm that provides land management support to various clients, and specializes in the capitalization of [Read more]