CALGARY, ALBERTA--(Marketwired - March 31, 2014) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to announce that it has successfully completed the last of its planned major infrastructure projects with the connection of its 115 km long Bistcho pipeline. Oil started to flow into the pipeline on March 29, 2014. In 2012, Strategic discovered a significant Muskeg Stack light oil resource in the Steen River area of northern Alberta. During the past 18 [Read more]
News
Southern Pacific Completes CAD$150 Million First Lien Term Loan
CALGARY, ALBERTA--(Marketwired - March 31, 2014) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) announced today that it has closed the previously announced loan agreement with Credit Suisse AG and its affiliate for a new first lien term loan facility with an aggregate principal amount equal to the U.S. dollar equivalent amount of CAD$150,000,000. The new first lien loan has a five year term with a maturity date on March 31, 2019 and will bear interest at LIBOR [Read more]
BlackPearl Enters Into Construction Contract for the Central Processing Facilities at Its Onion Lake Thermal Project
CALGARY, ALBERTA--(Marketwired - March 31, 2014) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(OMX:PXXS) is pleased to announce that it has entered into a lump sum contract with Propak Systems Ltd (Propak) for the engineering, procurement and fabrication of the central processing facilities for the Company's Onion Lake thermal project. Propak has successfully constructed and installed processing facilities for three similar thermal projects in Saskatchewan which are [Read more]
Christy Clark says B.C. can rival Alberta as energy exporter with LNG to Asia
OTTAWA - Premier Christy Clark is projecting British Columbia will rival energy giant Alberta in terms of "contribution to Canada" once the province starts exporting liquefied natural gas to Asia. Clark is preaching the gospel of natural gas exports in Ottawa with a large delegation that includes energy industry business people and a few First Nations leaders. The B.C. government used the occasion to sign an accord with the federal government on skills training — preparation, says Clark, [Read more]
New NEB Report Provides Overview of Key Energy Market Dynamics
CALGARY, March 31, 2014 /CNW/ - Today the National Energy Board (NEB or the Board) released a new energy market assessment entitled Canadian Energy Dynamics: 2013. The assessment provides an overview of key elements in Canada's energy markets, and how these elements changed in 2013. The energy sector in Canada is dynamic and continually being shaped by new sources of supply, changing demand, and integrated infrastructure development. Important developments in Canadian energy markets in 2013 [Read more]
Strategic Oil & Gas Ltd. Announces Year-End 2013 Financial Results, Second Closing of Private Placements and Operations Update
CALGARY, ALBERTA--(Marketwired - March 31, 2014) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) reports financial and operating results for the fourth quarter and year ended December 31, 2013, announces the closing of the second tranche of the previously announced $50 million private placement and provides results on the Muskeg Stack horizontal wells drilled in the first quarter of 2014. Detailed results are presented in Strategic's audited consolidated financial [Read more]
Sunshine Oilsands faces 71 lawsuits
Sunshine Oilsands is facing 71 lawsuits seeking a total of $94 million for unpaid bills. The story was first reported in the Globe and Mail. The Chinese-backed oilsands producer has been struggling to raise money to restart a a 10,000 bbl/d steam-assisted oilsands project at West Ellis. Read more from the Globe and Mail... [Read more]
Apache Agrees To Sell Western Canada Assets For US$374 Million
HOUSTON, March 31, 2014 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) and its subsidiaries today announced an agreement to sell producing oil and gas assets in the Deep Basin area of western Alberta and British Columbia, Canada, for $374 million. Incremental to Apache's earlier $2 billion share re-purchase announcement, the company plans to use the proceeds of this transaction to buy back Apache common shares under the 30-million-share repurchase program that was authorized by Apache's [Read more]
Oil steady above $101 a barrel as markets eye US-Russia talks, Chinese manufacturing report
The price of oil was little changed above $101 a barrel Monday as markets kept on eye on talks between the U.S. and Russia over the crisis in Ukraine.By early afternoon in Europe, benchmark U.S. crude for May delivery was down 20 cents to $101.47 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the Nymex contract rose 39 cents leaving it 2 per cent higher on the week, propelled by signs of stronger economic growth in the U.S. and global supply concerns.Brent crude, [Read more]
Delphi Energy Announces Increased Credit Facility and Provides Operations Update
CALGARY, ALBERTA--(Marketwired - March 31, 2014) - Delphi Energy Corp. ("Delphi" or the "Company") (TSX:DEE) is pleased to announce an increase to its senior credit facility and provide an update to its ongoing winter drilling program. SENIOR CREDIT FACILITY Delphi's lenders (National Bank of Canada, Bank of Nova Scotia and Alberta Treasury Branches) have completed their annual review of the Company's senior credit facility resulting in a $30.0 million increase in the facility to $170.0 [Read more]