CALGARY, ALBERTA--(Marketwired - Nov. 4, 2013) - Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto") is pleased to announce that it has priced an issuance of CDN$120 million of senior unsecured notes. The notes will have a coupon rate of 4.5% and mature in December 2020. The notes will be issued by way of a private placement pursuant to a note purchase agreement and will rank equally with Peyto's obligations under its bank facility and existing note purchase and private shelf [Read more]
News
Alberta PC Minister: OIL SUCKING THE LIFE OUT OF ALBERTA
EDMONTON - Alberta Municipal Affairs Minister Doug Griffiths took some heat in the legislature Monday for recent comments saying the province's oil and gas wealth "sucks the life" out of everything else in the province."Why was the minister out there (in Prince Edward Island) saying that the energy sector sucks the life out of every other aspect of Alberta instead of promoting the very many national benefits of the (proposed) Energy East pipeline?," Wildrose Leader Danielle Smith asked during [Read more]
Yoho Resources Inc. Announces Appointment of Vice President, Exploration
CALGARY, ALBERTA--(Marketwired - Nov. 4, 2013) - Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) is pleased to announce that its Board of Directors has approved the appointment of Mr. Gregory Niebergall as Vice President, Exploration. Mr. Niebergall has been with Yoho since July, 2008, most recently in the role of Exploration Manager. At Yoho, he has held increasing responsibility for the Company's exploration and development activity. Greg holds a Bachelor of Science Degree with [Read more]
New Brunswick unveils new natural gas royalty plan to chagrin of critics
FREDERICTON - New Brunswick has released a new royalty plan for natural gas that the province's energy minister says will encourage exploration and give the province a greater share of profits.But industry opponents say they fear the government is forging ahead without listening to their concerns, particularly over shale gas development.Craig Leonard said it was necessary to come up with a new royalty regime."We needed to get the regime in place so industry could see what it would be costing for [Read more]
Altima Announces Production Start-Up of the Chambers Alberta Area Horizontal 14-15-41-11 W5M Well
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 4, 2013) - Altima Resources Ltd. (TSX VENTURE:ARH)(FRANKFURT:AKC)(PINKSHEETS:ARSLF) announces the ALTIMA ET AL HZ CHAMBERS 14-15-41-11 W5M well, surface location 1-16-41-11 W5M (the Well") was placed on production November 1, 2013. The Company commenced construction of the 3.78 km Pipeline and Facilities for the Well on September 25, 2013 through a participation agreement (the "Agreement") between Acumen Energy Partners Inc. ("Acumen"), [Read more]
Ironhorse Announces Alberta Energy Regulator Approval and Asset Sale
CALGARY, Nov. 4, 2013 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces the following: Ironhorse is pleased to announce that on October 31, 2013, the Alberta Energy Regulator (AER) approved Grizzly Resources Ltd.'s Application No. 1707770 and Sinopec Daylight Energy Ltd's Applications No.'s 1723456, 1723458, 1723460, 1723486, 1723491, 1759037, 1759038, 1759044, 1759045 as well as No. 1728964 and No. 1696239. These approvals will allow Ironhorse and its [Read more]
US oil slips further closer to $94 after 4-month low
The price of oil slipped closer to $94 a barrel Monday after falling more than 7 percent in the past month on ample supplies and muted demand. By early afternoon in Europe, benchmark U.S. crude for December delivery was down 31 cents to $94.30 in electronic trading on the New York Mercantile Exchange. The contract dropped $1.77 to a four-month low of $94.61 on Friday. "Oil prices are finding themselves hardly able at all to recoup any of the losses they suffered last week," Frankfurt-based [Read more]
Protesters set up fracking rig on Christy Clark’s front lawn
VANCOUVER - Opponents of the British Columbia government's liquefied natural gas plans set up a three-metre mock fracking rig on the premier's front lawn on Sunday, as Premier Christy Clark prepares for a trade mission to Asia to sell the province's LNG potential. A small group from Rising Tide Vancouver Coast Salish Territories set up the mock rig and promised more protests to come in the western province as the provincial government is set to pursue a massive expansion of the LNG [Read more]
Painted Pony Petroleum Provides Production and Montney Operations Update
CALGARY, ALBERTA--(Marketwired - Nov. 4, 2013) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX:PPY) is pleased to provide an operations and activity update. HIGHLIGHTS A 41% production growth in the third quarter of 2013 over the same period in 2012. The Company had strong peak and final test rates of over 10 million cubic feet per day ("MMcf/d") of natural gas on two (1.0 net) 50% working interest Montney wells at Daiber. [Read more]
Drilling efficiency is a key driver of oil and natural gas production
Source: U.S Energy Information Administration, Drilling Productivity Report Increases in drilling efficiency have contributed to the breakdown of traditional methods that seek to estimate oil and natural gas production based principally on rig counts. The Drilling Productivity Report (DPR) analyzes drilling efficiency using the average number of wells a rig can drill over a period of time (left chart above) as well as a measure of how productive each new well is expected to be (right [Read more]