The price of oil fell below US$102 a barrel Thursday as weak economic data in the U.S. suggested demand for crude could fall. Benchmark West Texas Intermediate crude for June delivery fell 87 cents to close at US$101.50 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 25 cents to close at US$110.44 a barrel in London. Oil slipped after the Federal Reserve said Thursday that U.S. industrial production dropped in [Read more]
News
Shoreline Energy Corp. Announces Amended and Restated Forbearance Agreement with Century Services
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - Shoreline Energy Corp. (TSX:SEQ) and its wholly owned US subsidiary Shoreline Energy Holdings, Inc. (collectively "Shoreline" or the "Corporation") announces that it has entered into an amended and restated Forbearance Agreement with its senior secured lender, Century Services LP (the "Century Forbearance"). Subject to completion of a similar arrangement with its remaining secured lender in respect of its US Wattenburg working interest asset, [Read more]
Traverse Energy Announces 2014 First Quarter Results
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - Traverse Energy Ltd. ("Traverse" or "the Company") (TSX VENTURE:TVL) presents financial and operating results for the three months ended March 31, 2014. Three Months Ended Highlights (unaudited) March 31, 2014 December 31, 2013 March 31, 2013 Financial ($ thousands, except per share amounts) Petroleum and natural gas revenue 4,535 4,055 2,761 Cash flow from operating [Read more]
Exall Energy Corporation announces results for the three months ended March 31, 2014
CALGARY, May 15, 2014 /CNW Telbec/ - Exall Energy Corporation ("Exall" or the "Company") (TSX:EE and TSX:EE.DB) is pleased to announce its financial and operating results for the three months ended March 31, 2014. Exall's public filings can all be found at www.exall.com or www.sedar.com. Highlights: A first quarter 2014 production average of 962 boe per day. A first quarter 2014 Net Back of $46.41. A first quarter 2014 cash flow from operations of $1,959,000. A first quarter 2014 [Read more]
Sinopec Canada Announces the Addition of a New Independent Director
CALGARY, AB, May 15, 2014 (Marketwired) -- Sinopec Canada is pleased to announce today the addition of Mr. Howard Balloch to its Board of Directors. Mr. Balloch until recently served as Chairman of Canaccord Genuity Asia Limited, following Canaccord's 2011 acquisition of The Balloch Group, the investment advisory and merchant banking firm founded by Mr. Balloch in 2001. He is a veteran Canadian diplomat, having served as Canada's ambassador to the People's Republic of China from 1996 to 2001 [Read more]
Crescent Point Energy Announces Closing of CanEra Energy Acquisition
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG)(NYSE:CPG) is pleased to report that the previously announced acquisition (the "CanEra Acquisition") of CanEra Energy Corp. ("CanEra") closed today. With closing of the CanEra Acquisition, Crescent Point acquires a large Torquay land position at Flat Lake and conventional production in southeast Saskatchewan of approximately 10,000 boe/d. "This acquisition significantly [Read more]
Marquee Energy Ltd. announces first quarter 2014 financial results with record funds flow and production
CALGARY, May 15, 2014 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQL") (OTCQX: MQLXF) is pleased to provide its first quarter 2014 operating and financial results. The Company's consolidated financial statements as at March 31, 2014 and for the three months then ended and management's discussion and analysis for the three months ended March 31, 2014 are available on SEDAR at www.sedar.com and on Marquee's website at www.marquee-energy.com. Financial and Operational [Read more]
Exall Energy Corporation Announces: New Banking Arangements and 18% Working Interest Disposition
CALGARY, May 15, 2014 /CNW Telbec/ - Exall Energy Corporation ("Exall" or the "Company") (TSX:EE and TSX:EE.DB) is pleased to announce its new banking arrangements subject to the completion of a disposition of 18% of Exall's working interest in the Marten Mountain, Alberta area. Exall's filings can all be found at www.exall.com or www.sedar.com. Highlights include: A stepped down Revolving Production Loan Facility of $21.0 million, as of May 30, 2014, with a Canadian financial [Read more]
Oil-rich provinces not just Canada’s best economic performers, world-beaters as well
OTTAWA - A new report from the Conference Board puts Canada's three oil rich provinces on top of the world in terms of economic performance. For the rest of the country the news is not so stellar. The think-tank's annual economic report card comparing 16 of the world's richest countries puts Canada in fifth place overall, a one spot better than last year and behind Australia, Ireland, the United States and Norway. That's partly a function of Canada's relatively stable growth rate, but [Read more]
DeeThree Exploration Ltd. Announces 2014 First Quarter Financial and Operating Results and Tenth Consecutive Quarter of Growth
CALGARY, ALBERTA--(Marketwired - May 15, 2014) - DEETHREE EXPLORATION LTD. ("DeeThree") ("Company") (TSX:DTX)(OTCQX:DTHRF) is pleased to release an operational update and its financial and operational results for the quarter ended March 31, 2014. FINANCIAL AND OPERATIONAL HIGHLIGHTS Financial and operational highlights for the interim period ended March 31, 2014 with comparative data for 2013 are set out below and should be read in conjunction with the financial statements and related [Read more]