Opening in May 2014, the plant will play a key role in supplying low-cost, clean-burning LNG fuel to Western Canada's high horsepower industries. CALGARY, Alberta, April 24, 2014 /CNW/ - Ferus Natural Gas Fuels, Inc. (Ferus NGF), a North American leader in LNG and CNG fueling solutions, today announced it has completed the purchase of Encana Corporation's 50 percent interest in the Elmworth, Alberta 190,000-litre per day liquefied natural gas ("LNG") production facility, retaining key Encana [Read more]
News
Crescent Point to buy CanEra Energy in deal worth $1.1 billion, including debt
CALGARY - Crescent Point Energy Corp. (TSX:CPG) has signed an agreement to buy CanEra Energy Corp., a privately held oil and gas producer in southeast Saskatchewan, in a deal valued at $1.1 billion, including debt.CanEra's assets include a large land position in the Torquay area in Saskatchewan, where Crescent Point is active, and production of approximately 10,000 barrels of oil equivalent per day.Crescent Point president and chief executive Scott Saxberg said the deal complement's his [Read more]
Chinese-owned Nexen Energy says it’s replacing CEO Kevin Reinhart
CALGARY - Nexen Energy, the Calgary-based oil and gas company acquired last year by Chinese state-owned firm CNOOC Ltd., is replacing Kevin Reinhart as CEO.CNOOC made the decision because it wanted to bring in someone with "operational and technical depth," said spokeswoman Diane Kossman.Reinhart ushered Nexen through its contentious sale to CNOOC last year for $15.1 billion. He previously served as the company's chief financial officer.Prior to the takeover, announced in mid-2012, investors had [Read more]
Hyperion Exploration Corp. Announces Fourth Quarter and Year Ended December 31, 2013 Financial Results and Operations Update
CALGARY, ALBERTA--(Marketwired - April 24, 2014) - Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) announces it has filed on SEDAR its audited annual financial statements, related Management's Discussion and Analysis ("MD&A) and Annual Information Form ("AIF") for the year ended December 31, 2013. The financial statements, MD&A and AIF will be available for review at www.sedar.com or www.hyperionexploration.com. Financial and Operational [Read more]
Irving Oil Completes Voluntary Conversion of its Crude Oil Railcar Fleet
SAINT JOHN, April 23, 2014 /CNW/ - Irving Oil confirmed today that it has completed the conversion of its proprietary fleet of crude oil railcars to the Association of American Railroads' (AAR) recommended specifications for DOT-111 railcars constructed after October 1, 2011. In February, Irving Oil announced it would voluntarily remove its older-model railcars from service no later than April 30, 2014. The completion of the fleet upgrade supports Transport Canada's announcement [Read more]
Strategic Oil & Gas Ltd. Provides Operations Update
CALGARY, ALBERTA--(Marketwired - April 23, 2014) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to provide the following operations update. The Company has completed its 2014 winter drilling program, with a total of three new Muskeg Stack horizontal wells drilled. Corporate production averaged 4,016 boe/d for the week prior to bringing the latest Muskeg Stack well online. The following is an update of the three Muskeg stack wells drilled in the first [Read more]
Oil slips to US$102 a barrel as reports shows big increase in US supplies
NEW YORK - The price of oil slipped Wednesday as a government report showed U.S. oil supplies rose more than expected last week.Benchmark West Texas Intermediate crude for May delivery fell 31 cents to close at US$101.44 a barrel on the New York Mercantile Exchange. On Tuesday, the Nymex contract fell $1.90 a barrel.Brent crude, an international benchmark, fell 16 cents to US$109.11 on the ICE Futures exchange in London.The U.S. Energy Department's Energy Information Administration said oil [Read more]
Santonia Energy Inc. Announces Shareholder and Court Approvals of the Plan of Arrangement With Tourmaline Oil Corp.
CALGARY, ALBERTA--(Marketwired - April 23, 2014) - Santonia Energy Inc. ("Santonia") (TSX:STE) is pleased to announce that today it received shareholder and court approval for the previously announced plan of arrangement (the "Arrangement") pursuant to which Tourmaline Oil Corp. ("Tourmaline") will acquire all the issued and outstanding common shares of Santonia. Pursuant to the Arrangement, Santonia shareholders will receive 0.03012 of a common share of Tourmaline for each common share of [Read more]
Crescent Point Announces Strategic Torquay Consolidation Acquisition of CanEra Energy Corp. and Upwardly Revised 2014 Guidance
CALGARY, ALBERTA--(Marketwired - April 23, 2014) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG)(NYSE:CPG) is pleased to announce that it has entered into an arrangement agreement (the "CanEra Arrangement") to acquire all of the issued and outstanding shares of CanEra Energy Corp. ("CanEra"), a privately held southeast Saskatchewan oil and gas producer with a large Torquay land position and production of approximately 10,000 boe/d (the "CanEra Assets"). Total [Read more]
Effort to make rail tank cars used to ship crude oil safer marked by squabbling
WASHINGTON - A series of fiery train crashes spurred a push by government and industry to make safer tank cars used to ship crude oil and ethanol. But the effort is bogging down in squabbling and finger-pointing. A spokesman for the American Petroleum Institute says the railroad industry won't share data behind their recommendations to make the cars safer. He says the oil industry wants a "comprehensive examination" of proposed changes. But the Transportation Department says it's the oil [Read more]