NEW YORK - The price of oil fell 1.6 per cent Tuesday to just below $100 a barrel, dented by soft Chinese manufacturing figures and expectations of another increase in U.S. crude stockpiles. Benchmark U.S. crude for May delivery was down $1.61 to $99.97 a barrel in afternoon trading on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties of oil used by many U.S. refineries, was down $1.72 to $106.04 a barrel in London. Data showing weak [Read more]
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Magnum Energy Inc. Announces Extension to Closing Date of Provost Transaction
CALGARY, ALBERTA--(Marketwired - April 1, 2014) - MAGNUM ENERGY INC. ("Magnum" or the "Corporation") (TSX VENTURE:MEN) Magnum announces an April 22, 2014 extension to the closing date of the previously announced transaction with Artisan Energy Corporation ("Artisan") to sell Magnum's 50% working interest in the Provost area of Alberta (the "Provost Asset") for proceeds of $5.6 million. The effective date has also been amended to March 31, 2014. [Read more]
Polar vortex, shrinking loonie, create short-term boost for Canadian gas
Disappearances of Canadian benchmarks will influence future oil and gas forecasts and evaluations CALGARY, ALBERTA (April 1, 2014) – Deloitte’s Resource Evaluation & Advisory group released its current Canadian domestic oil and gas price forecast today, noting recent increases in Henry Hub natural gas futures for 2014 as high as US$4.94/Mcf. Deloitte’s Andrew Botterill, Senior Manager Resource Evaluation & Advisory, attributes the increases to above-normal draws on U.S. natural gas [Read more]
Hemisphere Energy Announces 64% Increase in Proved Plus Probable Reserves in 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 1, 2014) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce the results of its year-end independent reserves evaluation in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") as at December 31, 2013. The independent reserves evaluation covers the twelve month period ended December 31, 2013. During the year Hemisphere drilled and placed on production two horizontal [Read more]
Shoreline Energy Corp. Announces Termination of Merger and Review of Strategic Alternatives to Maximize Shareholder Value
CALGARY, ALBERTA--(Marketwired - April 1, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") announces today that the merger transaction with Lilis Energy Inc. ("Lilis") has been terminated by both parties. Having received an amended offer with a substantial reduction in purchase price, the Shoreline Board of Directors, after consultation with the Special Committee of the Board and its financial advisors and in light of certain inquiries with respect to a potential sale [Read more]
Canada Energy Partners Grants Option to Sell Montney Lands and Increases/Extends Financing Agreement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 1, 2014) - Canada Energy Partners Inc. (TSX VENTURE:CE) (the "Company") is pleased to announce that it has granted a third party an option to purchase (the "Option") the Company's Montney Shale lands and wells for CDN$16,070,000 in cash. The Option is exercisable until June 30, 2014 and, in the event the third party exercises the Option, the subsequent sale will be subject to certain conditions including shareholder and regulatory approval, [Read more]
Spartan Energy Corp. Provides Corporate Pro Forma Reserves Summary and Renegade Petroleum Ltd. 2013 Year-End Financial and Reserves Information
CALGARY, ALBERTA--(Marketwired - April 1, 2014) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased to provide a pro forma reserves summary as a result of the material increase in Spartan's reserves due to the completion of the acquisition of Renegade Petroleum Ltd. ("Renegade") on March 31, 2014. Spartan also reports the financial results and year-end reserves of Renegade for the year ended December 31, 2013, all as approved by the board of directors of Renegade on [Read more]
Shoreline Energy Corp. Announces Year Over Year Reserve Growth as Well as Financial and Operating Results for the Quarter and Year-Ended December 31, 2013
CALGARY, ALBERTA--(Marketwired - April 1, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") is pleased to report its 2013 year end oil and gas reserves, as well as 2013 year-end financial and operating results. A complete copy of the Company's annual information form, financial statements, along with management's discussion and analysis may be obtained at www.sedar.com or on the Company's website at www.shorelineenergy.ca. Fourth Quarter 2013 Financial and Operating [Read more]
Yangarra Grants Stock Options
CALGARY, March 31, 2014 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX-V:YGR) announces stock option grant. Yangarra announces it has granted officers and directors options to purchase 1,420,000 common shares at an exercise price of $0.90 per share, pursuant to its stock option plan. All the options vest over three years and will expire on March 31, 2019. [Read more]
CNRL buys Apache Assets
CNRL has confirmed it is the purchaser of Apache's assets for $374 million. The move comes just after CNRL bought Devon Canada Corporation for $3.1 billion. Read the entire release from Apache's sale... [Read more]