CALGARY, ALBERTA--(Marketwired - Nov. 1, 2013) - Shoreline Energy Corp. (the "Company" or "Shoreline") (TSX:SEQ) is pleased to announce it has closed an upsized US$3,000,000 loan facility (the "New Facility") with Acceleration Resources ("Acceleration") as announced in the Company's press release of September 30, 2013 (the "September 30 Release"). A portion of the proceeds of the New Facility have been paid to Shoreline's primary lender, Alberta Treasury Branches ("ATB"), in partial prepayment [Read more]
News
MEG Energy announces proposed private offering of additional 7.0% Senior Notes due 2024
CALGARY, Nov. 1, 2013 /CNW/ - MEG Energy Corp. announced today the commencement of, subject to market and other conditions, a private offering of US $200 million in aggregate principal amount of additional 7.0% senior notes due 2024 (the "New Notes"). The New Notes are being offered as additional notes under the indenture, dated as of October 1, 2013, among MEG, MEG Energy (U.S.) Inc. and Wilmington Trust, National Association, as trustee, pursuant to which MEG previously issued a total of US [Read more]
Strategic Oil & Gas Ltd. Announces Completion of Facility Expansion
CALGARY, ALBERTA--(Marketwired - Nov. 1, 2013) - STRATEGIC OIL & GAS LTD. (TSX VENTURE:SOG) ("Strategic" or the "Company") is pleased to announce that the expansion and reconfiguration of the Company's oil battery and gas processing plant at Steen River (the "9-17 battery") is complete. Production being processed through the 9-17 battery was shut in since construction began on October 16, 2013 and will be brought back on production over the next couple of days. The completion of the [Read more]
Costs are top of mind as Fort Hills project moves ahead
CALGARY - Suncor Energy Inc. says it will draw from its own deep experience in Alberta's oilsands — and learn from some of the pitfalls of its peers — as it aims to keep a lid on costs at its newly sanctioned Fort Hills oilsands mine."We know that projects have been difficult in this region," said Suncor CEO Steve Williams on a conference call Thursday. "We've been learning these lessons over a number of years."Indeed, Williams noted Suncor (TSX:SU) has spent $20 billion in the oilsands region [Read more]
Spooky Scenario: The Changing Face of the US Oil Industry
TORONTO, Oct. 31, 2013 /CNW/ - PF Group Inc. is pleased to announce the results of its latest study. Data released by the US Energy Information Administration (EIA) over the past several years have pointed to a compelling shift in the strategic context of US oil markets that may emerge in coming decades. The interwoven threads of pipelines, railways, carbon emissions, and political maneuvering are joined together in the loom of US refiners. Incremental increases in US refining capacity over [Read more]
Energy company granted permits to drill for natural gas in Nova Scotia
HALIFAX - An energy company has been granted permits to drill two tests wells for natural gas in Nova Scotia.Provincial Energy Minister Andrew Younger says East Coast Energy has met all regulatory requirements to carry out its work at the Foord coal seam in Pictou County at a depth of 540 metres.The company has submitted an emergency response plan and must provide daily reports to the province's Energy Department once drilling begins.The drilling is expected to take place over 30 to 40 days. [Read more]
Shell moves ahead with 80,000 barrel per day Carmon Creek project
CALGARY, Oct. 31, 2013 /CNW/ - Royal Dutch Shell plc (Shell) today announced its decision to proceed with its Carmon Creek project in Alberta, Canada, expected to produce up to 80,000 barrels of oil per day. Carmon Creek is a thermal in situ project that is 100 per cent Shell owned and will be part of the company's broader production, refining and marketing business across the full value chain in North America. "I'm pleased we're moving ahead with this important project," said Lorraine [Read more]
Twin Butte Energy Closes $70 Million Bought Deal Financing
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION OVER UNITED STATES WIRE SERVICES/ CALGARY, Oct. 31, 2013 /CNW/ - Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") is pleased to announce that it has completed its previously announced bought deal financing (the "Offering"). Twin Butte, through a syndicate of underwriters led by Peters & Co. Limited ("Peters & Co.") and including National Bank Financial Inc., Canaccord Genuity Corp., CIBC World Markets Inc., [Read more]
Imperial Oil announces estimated third quarter financial and operating results
CALGARY, Oct. 31, 2013 /CNW/ - Third quarter Nine months (millions of dollars, unless noted) 2013 2012 % 2013 2012 % Net income (U.S. GAAP) 647 1,040 (38) 1,772 2,690 (34) Net income per common share - assuming dilution (dollars) 0.76 1.22 (38) 2.08 3.16 (34) Capital and exploration expenditures 1,840 1,409 31 6,453 3,890 66 Rich [Read more]
Fort Hills Development Strengthens Total’s Position in Canada
CALGARY, ALBERTA--(Marketwired - Oct. 31, 2013) - Total has reached a final investment decision to develop the Fort Hills oil sands mining project in Alberta, Canada, located some 90 kilometres north of Fort McMurray. Production from Fort Hills is expected to start by end-2017 and to gradually reach the plateau of 180,000 b/d. The estimated cost to develop the project over the next four years is approximately C$13.5 billion. "The Fort Hills sanction is an important milestone [Read more]