CALGARY, May 1, 2014 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST", the "COMPANY", "we", "us" or "our") is pleased to announce its results for the first quarter ended March 31, 2014. All figures are in Canadian dollars unless otherwise stated. Three months ended March 31 2014 2013 % change Financial (millions, except per share amounts) Gross revenues [Read more]
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Tamarack Valley Energy Ltd. Announces 2014 First Quarter Financial Results, Operational Update and a Record Production Rate in April 2014
CALGARY, ALBERTA--(Marketwired - May 1, 2014) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce record corporate production, as a result of the successful first quarter 2014 drilling program. Current production is 4,967 boe/d, based on field estimates, with additional behind pipe production (wells already drilled and completed awaiting permanent facilities or temporarily restricted by facilities) of approximately 515 boe/d. With a portion of the [Read more]
Gear Energy Announces Closing of $85 Million Asset Acquisition
CALGARY, ALBERTA--(Marketwired - April 30, 2014) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to announce today that it has closed the acquisition of certain heavy oil assets in our core areas as previously announced on April 24, 2014 for $85 million subject to post-closing adjustments. The acquisition is consistent with Gear's strategy of acquiring underexploited, geographically focused assets and provides a material increase in low risk future drilling opportunities and [Read more]
Quattro Reports Net Earnings of $0.39 Per Share for Year End 2013
CALGARY, ALBERTA--(Marketwired - April 30, 2014) - Quattro Exploration and Production Ltd. ("Quattro" or the "Company") (TSX VENTURE:QXP) is pleased to announce for its full year ending December 31st, 2013, CDN $0.39 per share earnings. Highlights for the year ending 2013 are based on our continuing approach to adding anti-dilutive shareholder value. In addition, Quattro continues to develop a strong and improving financial position as the foundation for growth through a continuous combination [Read more]
Encana Announces Filing of Amended and Restated Preliminary Prospectus for Initial Public Offering of PrairieSky Royalty
CALGARY, ALBERTA--(Marketwired - April 30, 2014) - Encana Corporation ("Encana") (TSX:ECA)(NYSE:ECA) announced today that PrairieSky Royalty Ltd. ("PrairieSky"), a wholly-owned subsidiary of Encana, has filed and obtained a receipt for an amended and restated preliminary prospectus ("Amended Prospectus") in respect of its initial public offering of common shares with the securities regulatory authorities of all provinces and territories in Canada (the "Offering"), which amends and restates the [Read more]
ARC Resources Ltd. reports record first quarter results
CALGARY, April 30, 2014 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its first quarter 2014 operating and financial results. First quarter production averaged a record 105,699 boe per day and funds from operations were a record $292.3 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 months ended March 31, 2014 and 2013, are available on [Read more]
Sprott Resource Corp. and Long Run Exploration Ltd. Announce $67.7 Million Secondary Offering of Long Run Common Shares
TORONTO, ONTARIO--(Marketwired - April 30, 2014) - Sprott Resource Corp. ("SRC") (TSX:SCP) and Long Run Exploration Ltd. ("Long Run") (TSX:LRE) today announced that they have entered into an agreement with a syndicate of underwriters, co-led by National Bank Financial Inc. and Cormark Securities Inc., for a secondary offering by SRC (the "Offering"), on a bought deal basis, of 12,654,635 common shares of Long Run ("Common Shares") at a price of $5.35 per Common Share for gross proceeds of [Read more]
PanTerra Announces Non-Brokered Private Placement
CALGARY, April 30, 2014 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Corporation") is pleased to announce that it plans to complete a non-brokered private placement of up to 10,000,000 units (the "Units") at a price of $0.07 per Unit for total gross proceeds to the Corporation of up to $700,000 (the "Offering"). Each Unit will consist of one common share (a "Common Share") in the capital of the Corporation and one-half of one warrant to purchase a Common Share (a "Warrant"). Each whole [Read more]
Oil falls below US$100 a barrel on slow US economic growth, rising supplies
NEW YORK - The price of oil fell below US$100 a barrel for the first time in three weeks Wednesday as reports showed U.S. economic growth stalled in the first quarter and American oil supplies rose to record levels last week. Benchmark West Texas Intermediate crude for June delivery dropped $1.54 or 1.5 per cent to close at US$99.74 a barrel on the New York Mercantile Exchange. Brent crude, an international oil benchmark, fell 91 cents to US$108.07 on the ICE Futures exchange in [Read more]
Canadian Oil Sands Announces First Quarter Results and a Reduction in Major Project Costs
CALGARY, ALBERTA--(Marketwired - April 30, 2014) - Canadian Oil Sands Limited (TSX:COS)(OTCQX:COSWF) - All financial figures are unaudited and in Canadian dollars unless otherwise noted. "Higher production and crude oil prices contributed to a 30 per cent increase in cash flow from operations in the first quarter of 2014 compared with last year's first quarter," said Ryan Kubik, President and Chief Executive Officer. "Syncrude has also made significant progress on our major projects. Our [Read more]