CALGARY, ALBERTA--(Marketwired - March 4, 2014) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to present the results and analysis of its 2013 year-end independent reserve report. HIGHLIGHTS Achieved finding, development and acquisition ("FD&A") costs of $17.84 per proved plus probable ("P+P") boe, including changes in future development costs ("FDC"), which resulted in a Company recycle ratio of 1.8 times. FD&A costs decreased by 26 per cent from 2012. FDC [Read more]
News
Painted Pony Announces A 52% Increase in Proved Plus Probable Reserves to 1.7 Tcfe With A Net Present Value Discounted at 10% of $1.5 Billion
CALGARY, ALBERTA--(Marketwired - March 4, 2014) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX:PPY) is pleased to announce the results of the Company's December 31, 2013 reserves position and its Montney natural gas prospective and contingent resource assessments. Highlights include: a 52% increase in proved plus probable ("P+P") reserves to 1.7 trillion cubic feet of gas equivalent ("Tcfe"), or 290.3 million barrels of oil equivalent ("mmboe"), with a corresponding 41% [Read more]
Gear Energy Ltd. Announces Fourth Quarter and Year End 2013 Results; Record Production and Strong Operational Performance
CALGARY, ALBERTA--(Marketwired - March 4, 2014) - Gear Energy Ltd. (TSX:GXE) ("Gear" or the "Company") is pleased to provide the following fourth quarter operating update to shareholders. In conjunction with this fourth quarter release, please refer to Gear's Reserves Press Release for its 2013 year-end reserves update for more information. Gear's Annual Audited Financial Statements and related Management's Discussion and Analysis (MD&A) for the year's ended December 31, 2013 and 2012 are [Read more]
Clearview Announces Acquisition and Change of Director
CALGARY, ALBERTA--(Marketwired - March 4, 2014) - Clearview Resources Ltd. ("Clearview") is pleased to announce that on February 28, 2014 the Company acquired long life natural gas and liquids assets in the Wilson Creek area of West Central Alberta. Production from the 8 gross (3.3 net) wells acquired is estimated at net 150 boe/d, comprised of 660 mcf/d of natural gas and 40 b/d of liquids. The Company also believes there is upside in the assets in the form of multi-zone re-completion, drilling [Read more]
Trilogy Energy Corp. Announces Financial and Operating Results for the Quarter and Year-Ended December 31, 2013
CALGARY, ALBERTA--(Marketwired - March 4, 2014) - Trilogy Energy Corp. (TSX:TET) ("Trilogy") is pleased to announce its financial and operating results for the quarter and year-ended December 31, 2013. FINANCIAL AND OPERATING HIGHLIGHTS Trilogy added 19.5 MMBoe of proved reserves (50 percent oil and NGLs) and 20.8 MMBoe of proved plus probable reserves (53 percent oil and natural gas liquids), including positive technical revisions. Trilogy replaced 154 percent of 2013 produced [Read more]
TransCanada makes initial filing for $12-billion Energy East oil pipeline
CALGARY - TransCanada Corp. has taken an initial step toward obtaining regulatory approval for its proposed $12-billion Energy East oil pipeline. The Calgary-based pipeline giant (TSX:TRP) filed a project description with the National Energy Board on Tuesday — a key step in the process. The more than 100-page document provides details on the project based on engineering assessments, environmental studies and community consultations. The 4,600-kilometre Energy East pipeline would connect [Read more]
Crude oil down sharply after Putin eases fears of escalation of Ukraine crisis
The price of crude oil dropped sharply Tuesday after Russian President Vladimir Putin said his country was not seeking to escalate the conflict in Ukraine Benchmark West Texas Intermediate crude for April delivery fell $1.59 to US$103.33 a barrel on the New York Mercantile Exchange. On Monday, oil added $2.33 to close at $104.92. Brent crude, used to set prices for international varieties of crude, fell $1.90 to US$109.30 a barrel on the ICE Futures exchange in London. Putin said that [Read more]
Baytex Signs Agreement to Increase Conservation of Produced Gas for Power Generation in Peace River Area
CALGARY, ALBERTA--(Marketwired - March 4, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) is pleased to announce the signing of a 10-year agreement with Genalta Power Inc. ("Genalta") to deliver the majority of the excess natural gas production associated with its Three Creeks heavy oil production in the Peace River area to a power generating facility to be constructed by Genalta. The project will generate 12 megawatts of low emission power, providing the daily energy requirement for [Read more]
Donnybrook Announces Resignation of Director
CALGARY, ALBERTA--(Marketwired - March 4, 2014) - Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) announces that Mr. David Patterson has resigned as a director and Chairman of the Company for personal reasons, effective immediately. Donnybrook thanks Mr. Patterson for his contributions to the Company and wishes him well with his future endeavours. Further information relating to Donnybrook is also available on its website at www.donnybrookenergy.ca. [Read more]
Canada writes U.S. to plug Keystone XL, offer to work together on oil pollution
WASHINGTON - The Canadian government has sent the Obama administration a letter making its case for the Keystone XL pipeline. The letter argues the merits of the pipeline on environmental, economic and energy-security grounds. It expresses a desire to work with the Americans on oil and gas issues, without wading into specifics. The three-page note is signed by Canada's ambassador to Washington, Gary Doer, and addressed to Secretary of State John Kerry. Kerry is leading a regulatory [Read more]