CALGARY - Suncor Energy Inc. (TSX:SU) hopes to build a "material presence" in offshore Norway, its senior vice president of exploration and production said Wednesday.But Francois Langlois said Suncor, best known as a dominant oilsands producer, is in no hurry to grow its interests in the international and offshore spheres."It's not urgent that we do this. We're not pressured in being a high-risk explorer that throws a lot of money at exploration," Langlois said on Suncor's investor day [Read more]
News
Oil above $97 a barrel as US supplies decline
The price of oil rose for a fourth straight day as the government reported the first drop in crude oil supplies in 11 weeks.Benchmark crude oil for January delivery rose $1.16 to $97.20 a barrel on the New York Mercantile Exchange. Oil has gained $4.90 a barrel, or 5.3 per cent, over the past four trading sessions.The Energy Department said Wednesday that crude oil supplies decreased by 5.6 million barrels, or 1.4 per cent, last week, breaking a streak of 10 consecutive weekly increases. The [Read more]
Edge Resources Inc. Kicks Off Multi-Well Drilling Program
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - Edge Resources Inc. ("Edge" or the "Company") (TSX VENTURE:EDE)(AIM:EDG) is very pleased to announce that, following from the oversubscribed financing (announced November 18, 2013), it has already secured a drilling rig for a multi- well drilling program in Eye Hill, Saskatchewan. The Company is planning on drilling a minimum of three wells back-to-back in December 2013. The planned locations are within a few hundred meters of the existing, [Read more]
Paramount Resources Ltd. Announces the Proposed Offering of an Additional $100 Million of Its 7.625% Senior Notes Due 2019 and A $150 Million Increase to Its Bank Credit Facility
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - Paramount Resources Ltd. (TSX:POU) ("Paramount" or the "Company") intends to sell an additional $100 million aggregate principal amount of its 7.625% senior unsecured notes due 2019 (the "Senior Notes") by way of a public offering in Canada and on a private placement basis in the United States through a syndicate of underwriters (the "Offering"). The Offering is expected to close before mid-December 2013. Net proceeds from the Offering will be [Read more]
Aroway Energy Inc. Begins Drilling at Kirkpatrick Lake
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - AROWAY ENERGY INC. (TSX VENTURE:ARW)(OTCQX:ARWJF) (www.arowayenergy.com) (the "Company") announces that it has commenced operations on a new development oil well on its 100% owned and operated Kirkpatrick Lake property in Central Alberta. The new development oil well will be drilled to an approximate depth of 1,400 meters into the Ellerslie formation. This new well is classified as a development well, and offsets Aroway's original discovery well [Read more]
Crescent Point Energy Exceeds 2013 Exit Production Guidance and Announces $1.75 Billion Capital Expenditures Budget for 2014
CALGARY, ALBERTA--(Marketwired - Dec. 3, 2013) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) is pleased to announce that it surpassed its 2013 exit guidance of 124,000 boe/d in November. "We've had a record year and have beaten our targets every quarter. When you look at our outperformance in 2012 and 2013, a lot of it is due to the advancements in technology that we've made as a company and our consistent push to improve our completions techniques," said [Read more]
Atikwa Resources Inc. Provides Management Update
CALGARY, ALBERTA--(Marketwired - Dec. 3, 2013) - Atikwa Resources Inc. (TSX VENTURE:ATK) (the "Company") today announced that Mr. Garry Topolnitsky, Chief Financial Officer (CFO), has resigned his position due to personal reasons. Mr. Topolnitsky has agreed to assist the Company until a new CFO is retained. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy [Read more]
Groundstar Resources Announces New Oil Production In Canada
CALGARY, December 3, 2013, Groundstar Resources Limited. ("Groundstar", "the "Company", "we", "us", or "our") (TSXV: GSA US: GRDSF symbol) is pleased to announce that, pursuant to its previously announced strategy to add production volumes domestically, it is for the first time since incorporation now operating and producing hydrocarbons in North America. Groundstar has drilled a successful oil well in Saskatchewan and continuous oil production has commenced at the 3-13-45-26W3M well (the "3-13 [Read more]
Black Swan Energy announces $150 million equity investment
CALGARY, Dec. 3, 2013 /CNW/ - Black Swan Energy Ltd. today announced that it has completed a $150 million increase in the equity capital commitments from its existing shareholders which include Warburg Pincus, Canada Pension Plan Investment Board and KERN Partners. This brings the total capital commitment from its shareholders to $501 million, with the new capital being used to fully fund the appraisal and early development of its current properties. Black Swan is focused on its growing base of [Read more]
Surge Energy Inc. closes previously announced core area crude oil acquisition, conversion of subscription receipts, upwardly revised guidance and increased dividend
CALGARY, Dec. 3, 2013 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce that it has now closed the previously announced acquisition (the "Acquisition") of a high quality, low decline, operated, crude oil producing asset strategically located near Wainwright in the Company's core area of Central Alberta (the "Assets"). The Assets include over 980 barrels per day of primarily medium gravity crude oil production (with a historical nine percent annual decline), [Read more]