EDMONTON - The Alberta government has ordered ConocoPhillips Canada Resources Corporation and Bonavista Energy Corporation to clean up the site of a former sour gas plant.The government says ConocoPhillips Canada is the holder of the Environmental Protection and Enforcement Act approval for the reclamation of the Crossfield sour gas processing plant and is the surface lease holder.It says Bonavista Energy Corporation obtained the Alberta Energy Regulator well licence from ConocoPhillps Canada in [Read more]
News
Crude oil hovers below US$100 a barrel on economic, supply worries
The price of oil slipped a little on Tuesday as the market weighed potentially weaker global economic growth against continued disruptions of Libyan crude supplies. Benchmark West Texas Intermediate crude for May delivery fell 41 cents to close at US$99.19 a barrel on the New York Mercantile Exchange. Brent crude, used to set prices for international varieties used by many U.S. refineries, rose seven cents to close at US$106.99 in London. U.S. and Brent crude have hovered in narrow ranges [Read more]
Freehold Royalties Ltd. Announces the Nomination of a New Director
CALGARY, ALBERTA--(Marketwired - March 25, 2014) - Freehold Royalties Ltd. (Freehold) (TSX:FRU) is pleased to announce that Susan MacKenzie has agreed to stand for election as a director of Freehold at the annual meeting of shareholders to be held on May 14, 2014. Ms. MacKenzie is a Corporate Director, independent consultant, and former oil and gas industry executive with over 25 years of energy sector experience in operations and service support areas. Ms. MacKenzie has been an [Read more]
Lithuania minister pleads for US to export more natural gas to counter Putin
WASHINGTON - Calls to increase U.S. natural gas exports to counter Russian influence across Europe grew louder Tuesday amid concerns that Russia will move deeper into Ukraine. Lithuania's energy minister, Jaroslav Neverovic, pleaded in emotional terms for U.S. help, saying his country is "100 per cent" dependent on Russia for natural gas and has to pay 30 per cent higher prices for it than other countries in Europe. "This is not just unfair, this is abuse," Neverovic told the Senate Energy [Read more]
Yangarra Announces Year End 2013 Financial, Operating Results and Reserves
CALGARY, March 25, 2014 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX-V:YGR) releases its 2013 financials and reserves. 2013 Financial and Operating Highlights During the year ended December 31, 2013 the Company completed the following significant milestones: Average daily production was 2,206 boe/d, a 15% increase from 2012. Funds flow from operations were $26 million ($0.21 per share - basic), a 76% increase from 2012. Earnings before interest, taxes, depletion [Read more]
Official: Iran plans new oil export terminal outside Persian Gulf
TEHRAN, Iran - A senior official says Iran is planning to build a new oil terminal beyond the strategic Strait of Hormuz. Akbar Torkan, a senior trade official, is quoted by the semiofficial ISNA news agency as saying Tuesday that the new terminal will be at Bandar Jask port on the Oman Sea. Iran's sole major crude export terminal is at Khark Island in the Persian Gulf. Torkan didn't elaborate, but bypassing Hormuz would be seen as protecting exports from instability in the [Read more]
Kelt Closes Equity Financings for $147 Million
CALGARY, ALBERTA--(Marketwired - March 25, 2014) - Kelt Exploration Ltd. (TSX:KEL) ("Kelt" or the "Company") is pleased to announce that it has completed a bought deal private placement offering (the "Brokered Offering") with a syndicate of underwriters led by Peters & Co. Limited and including FirstEnergy Capital Corp., RBC Capital Markets, National Bank Financial Inc., CIBC World Markets Inc., GMP Securities L.P., Scotia Capital Inc., AltaCorp Capital Inc., Dundee Securities Ltd., Cormark [Read more]
Kelt Reports on Notice of Transportation Disruptions at Grande Cache
CALGARY, ALBERTA--(Marketwired - March 25, 2014) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX:KEL) produces natural gas that is delivered to the Copton Creek and Cutbank River receipt points which it has been advised will be affected by the National Energy Board ("NEB")'s order SG-N081-001-2014 issued on March 4, 2014 (the "Order") to Nova Gas Transmission Ltd. ("NGTL"), a wholly owned subsidiary of TransCanada PipeLines Limited ("TCPL"). Kelt production delivered to the Copton [Read more]
Hawk announces year end reserves and provides operations update
CALGARY, March 25, 2014 /CNW/ - Hawk Exploration Ltd. ("Hawk" or the "Corporation") is pleased to provide an operations update and a summary of its December 31, 2013 reserve information as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"). HIGHLIGHTS Increased total proved plus probable oil reserves by 5% from 1,725 thousand barrels of oil equivalent ("MBoe") to 1,814 MBoe while total proved reserves increased slightly from 1,137 MBoe in 2012 to 1,145 MBoe in 2013; Added total proved [Read more]
Manitok Energy Inc. Announces Appointment of New Vice President Production and Engineering
CALGARY, ALBERTA--(Marketwired - March 25, 2014) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) Manitok is pleased to announce the appointment of Tim Jerhoff as the Corporation's new Vice President Production and Engineering. Mr. Jerhoff is a professional engineer with over 25 years of experience in the Canadian oil and gas industry. Mr. Jerhoff began his career with Petro-Canada in 1988 and he eventually became Team Lead, northeast BC natural gas and was responsible [Read more]