CALGARY, ALBERTA--(Marketwired - Feb. 14, 2014) - As previously announced, Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC) and Magnum Energy Inc. ("Magnum") (TSX VENTURE:MEN) have entered into a purchase and sale agreement (subject to certain closing conditions) pursuant to which Artisan will acquire Magnum's 50% working interest in 2,720 gross acres (1,360 net acres) of land in the Provost area of Alberta (the "Provost Asset"). The purchase and sale agreement has [Read more]
News
Enbridge Announces Executive Appointments
CALGARY, ALBERTA--(Marketwired - Feb. 14, 2014) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) and Enbridge Pipelines Inc. announced today changes to responsibilities of certain senior executives, effective March 1, 2014. Stephen J. Wuori, currently President, Liquids Pipelines & Major Projects, will be appointed Strategic Advisor, Office of the President and CEO. Guy Jarvis, currently Executive Vice President and Chief Commercial Officer, Liquids Pipelines, will be appointed President, Liquids [Read more]
Thousands apply to talk about Trans Mountain
VANCOUVER - Thousands of groups, businesses and individuals have applied to take part in the upcoming National Energy Board hearings into Kinder Morgan's proposed expansion if its Trans Mountain oil pipeline through Alberta and British Columbia Energy board spokeswoman Sarah Kiley says among the 2,131 applicants are many First Nations groups, municipalities from Edmonton to Vancouver, conservation groups and businesses. One of the more unexpected applicants is the Washington State [Read more]
Oil dips; natural gas soars on supply report
The price of oil barely budged Thursday as benchmark West Texas Intermediate crude for March delivery slipped two cents to US$100.35 a barrel on the New York Mercantile Exchange. U.S. economic indicators were mostly downbeat on Thursday, suggesting weak demand, although a report from the International Energy Agency gave oil some support. The agency raised slightly its 2014 forecast for global demand to 92.6 million barrels a day, 125,000 barrels above its previous expectations from a month [Read more]
Quebec to explore Anticosti Island oil reserves
MONTREAL - The Quebec government is going ahead with plans to exploit the oil resources of Anticosti Island, estimated at 46 million barrels. Premier Pauline Marois announced deals with the firms Petrolia, Corridor Resources, Junex, and Maurel & Prom to carry out two exploration programs in two phases. The government will invest a total of $115 million in the projects. The news comes as speculation swirls around a possible provincial election in which opposition parties have said [Read more]
Recent cold not swaying Encana gas outlook
CALGARY - Encana Corp. says a recent run-up in natural gas prices — driven by a prolonged stretch of frigid weather throughout North America — has been great for business, but it's not enough to sway its mid-term outlook for that commodity. "It's good news if you're a company with a lot of gas production. We're having a very cold winter, which is pulling a lot of demand and has obviously created very strong pricing here recently," CEO Doug Suttles told analysts on a conference call Thursday, [Read more]
Cenovus hikes dividend
CALGARY - Oilsands producer Cenovus Energy Inc. says its dividend is going up 10 per cent, starting with the next payment in March. The increased payout to Cenovus shareholders was announced along with the company's improved fourth-quarter results. The Calgary-based company reported $212 million of operating earnings, equal to 28 cents per share. That compared with a year-earlier operating loss of $188 million or 25 cents per share. Cenovus says its quarterly dividend will rise to [Read more]
Encana Delivers on Its Targets in a Year of Change, Well Positioned for 2014
CALGARY, ALBERTA--(Marketwired - Feb. 13, 2014) - Encana Corporation (TSX:ECA)(NYSE:ECA) concluded 2013 by meeting or exceeding guidance on all of its key operating and financial metrics during a year in which it announced a new President & CEO and launched a bold change in its strategy. Solid results have already been achieved on primary themes of the strategy announced by the company in the fourth quarter, including significant year-over-year increases in liquids production and ending the [Read more]
Cenovus oil sands production increases 14% in 2013
Proved bitumen reserves up 8% Combined oil sands production at Foster Creek and Christina Lake averaged almost 103,000 barrels per day (bbls/d) net in 2013, up 14% from 2012. Production at Christina Lake increased 55% to more than 49,000 bbls/d net in 2013. Christina Lake phase D reached full capacity in 2013, about six months after first production. Phase E is expected to achieve full capacity in the first quarter of 2014. Foster Creek production averaged more than 53,000 bbls/d net in [Read more]
Northern Spirit Resources Inc. Announces Year End Corporate Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 12, 2014) - Northern Spirit Resources Inc. ("Northern Spirit" or the "Company") (TSX VENTURE:NS) is pleased to announce the results of its independent reserve evaluation for the year ended December 31, 2013 as prepared by Deloitte LLP ("Deloitte"). The Company's annual audit of its financial statements is not yet complete and accordingly all financial amounts referred to in this press release are estimates and are subject to revision. Complete reserves [Read more]