The price of oil fell two per cent to settle just above US$102 a barrel Tuesday as investors weighed expectations of rising U.S. crude stockpiles against tensions in Ukraine. U.S. crude for May delivery dipped $2.24 a barrel to settle at US$102.13 in electronic trading on the New York Mercantile Exchange. On Monday, oil added seven cents to close at $104.37. Brent crude, an international benchmark for oil, eased 68 cents to US$109.27 on the ICE Futures exchange in London. Markets remain [Read more]
News
Baytex Commences Tender Offers and Consent Solicitations for Senior Notes of Aurora USA Oil & Gas, Inc.
CALGARY, ALBERTA--(Marketwired - April 22, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) today announced the commencement of cash tender offers (each an "Offer" and collectively, the "Offers") relating to any and all of the US$365,000,000 current outstanding principal amount of 9.875% Senior Notes due 2017 (the "9.875% Notes") and US$300,000,000 current outstanding principal amount of 7.50% Senior Notes due 2020 (the "7.50% Notes" and together with the 9.875% Notes, the "Notes") of [Read more]
MGM Energy Corp.: Financial Results for the Three Months Ended March 31, 2014
CALGARY, ALBERTA--(Marketwired - April 22, 2014) - MGM Energy Corp. ("MGM Energy" or the "Company") (TSX:MGX) announced today its financial results for the three months ended March 31, 2014. The Company reported a net loss for the three months ended March 31, 2014 of $1.5 million ($0.00 per share) as compared to a net loss of $0.6 million ($0.00 per share) for the three months ended March 31, 2013. MGM Energy's full unaudited financial statements and accompanying Management's Discussion [Read more]
Alberta’s Hancock to meet with PM Harper next week to discuss Keystone pipeline
EDMONTON - Alberta Premier Dave Hancock will meet with Prime Minister Stephen Harper in Ottawa next week to talk about the Keystone XL pipeline. Hancock says they will discuss next steps after the United States delayed the pipeline yet again last week. The delay is to gather more information and to resolve court challenges to the pipeline in Nebraska. Hancock says he feels the U.S. government has enough information already to make a decision on a pipeline he says will benefit both [Read more]
Mooncor Announces Proposed Non-Brokered Private Placement
TORONTO, ONTARIO--(Marketwired - April 22, 2014) - Mooncor Oil & Gas Corp. ("Mooncor") (TSX VENTURE:MOO) announced today a proposed non- brokered private placement financing pursuant to which Mooncor proposes to raise gross proceeds of up to $1,500,000 through the issuance of "flow-through" common shares at a price of $0.08 per share and common share units ("Units") at a price of $0.06 per Unit. Each Unit is to consist of one common share in the capital of Mooncor (a "Common Share") and one [Read more]
Ottawa supports keeping drilling moratorium on Georges Bank off Nova Scotia
HALIFAX - Federal Finance Minister Joe Oliver says Ottawa agrees with keeping in place a moratorium on oil and gas exploration on Georges Bank off the southwest coast of Nova Scotia.The current federal-provincial moratorium on exploration on Georges Bank expires at the end of 2015 and Nova Scotia has been in talks with the federal government about creating matching legislation to extend it until the end of 2022.Oliver, who left the Natural Resources portfolio last month, says Ottawa continues to [Read more]
Stalling Keystone will hurt U.S. energy security, Canadian economy: Oliver
HALIFAX - The U.S. government's decision to stall the Keystone XL pipeline project will harm American energy security and the economies of both the U.S. and Canada, says the federal finance minister.Joe Oliver said Tuesday that the U.S. administration's indefinite delay of the project hurts employment on both sides of the border."I'm very disappointed by the American decision to delay yet again this project, which is perhaps the most studied natural resources project in the history of the [Read more]
Lawyer asks court to shut Alberta oilsands plant releasing harmful smells
EDMONTON - A lawyer is asking a court to shut down a northwestern Alberta oilsands plant while the owner works to stop harmful odours that have forced nearby residents from their homes.Keith Wilson represents families made ill by powerful smells emitting from Baytex Energy's operations near Peace River.Wilson says allowing Baytex to keep operating while it installs new equipment to block the smells puts corporate profits ahead of public health.Last week, Alberta's energy regulator agreed with [Read more]
Century Energy Completes Sale of Vawn Assets
CALGARY, ALBERTA--(Marketwired - April 22, 2014) - Further to the press release dated April 7, 2014 regarding the proposed sale of its Vawn Heavy Oil property in Saskatchewan, Century Energy Ltd. ("Century") (TSX VENTURE:CEY) is pleased to announce that it received shareholder approval for the sale of these assets to a third party for a cash consideration of $475,000 at its Annual and Special Meeting held April 17, 2014 in Calgary. Century will now conduct a review of its strategic options [Read more]
NEB to hear NGTL’s integration asset transfer application
CALGARY, April 22, 2014 /CNW/ - The National Energy Board (NEB or the Board) will hold a public hearing to consider an application filed by NOVA Gas Transmission Ltd. (NGTL) requesting approval for the acquisition of certain assets currently owned by ATCO Gas and Pipelines Ltd. (ATCO Pipelines). The Board is also being asked to approve the sale by NGTL of certain assets to ATCO Pipelines. If approved, the project would include the following asset exchanges: NGTL Transferred Assets, which [Read more]