Marathon Oil Corporation's bid to sell off its stake in the Athabasca Oil Sands Project has ended with "terminated negotiations". The company said in a press release it "is not engaged in further discussions with respect to a potential sale of these assets". Read the release below courtesy Marathon Oil Corp: As previously announced, Marathon Oil Corporation (NYSE: MRO) had engaged in discussions with respect to a potential sale of a portion of the Company's 20 percent outside-operated [Read more]
News
Oil price falls to near $93 a barrel in Europe after China manufacturing contracts in May
By Pablo Gorondi, The Associated Press The price of oil fell to near $93 a barrel on Thursday after a survey showed manufacturing activity in China falling to its lowest level in seven months, a sign that the recovery in the world's No. 2 economy is fading. By early afternoon in Europe, benchmark oil for July delivery was down 99 cents to $93.29 a barrel in electronic trading on the New York Mercantile Exchange. The contract declined $1.90 to close at $94.28 a barrel on Wednesday. HSBC [Read more]
Painted Pony Reports Record Production, Announces First Quarter 2013 Financial Results, Operational Update and Officer Retirement
CALGARY, ALBERTA--(Marketwired - May 23, 2013) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX VENTURE:PPY) is pleased to report its financial and operating results for the three month period ending March 31, 2013. Highlights for the first quarter of 2013 include: achieved a new quarterly production record, with average daily volumes growing to 8,596 barrels ("bbl") of oil equivalent ("boe") per day ("boe/d") (weighted 79% gas), an increase of 18% over the fourth quarter [Read more]
Questfire Energy Corp. Announces 2013 First Quarter Financial Results
CALGARY, ALBERTA--(Marketwired - May 23, 2013) - Questfire Energy Corp. (TSX VENTURE:Q.A)(TSX VENTURE:Q.B) (the "Corporation" or "Questfire") is pleased to announce that it has filed on SEDAR its unaudited financial statements and related management's discussion and analysis ("MD&A") for the three month period ended March 31, 2013. First Quarter 2013 Corporate Highlights Completed a detailed due diligence review of Advantage Oil & Gas Ltd.'s non-core assets, which was completed [Read more]
US Congress passes bill to speed approval of Keystone pipeline
By Associated Press WASHINGTON — House Republicans pushed through a bill Wednesday to bypass the president to speed approval of the Keystone XL oil pipeline from Canada to Texas. Democrats criticized the legislation as a blatant attempt to allow a foreign company to avoid environmental review. The bill was approved, 241-175, largely along party lines. Republicans said the measure was needed to ensure that the long-delayed pipeline, first proposed in 2008, is built. “This is the most [Read more]
3MV Energy Announces Appointment of Interim CEO
CALGARY, May 22, 2013 /CNW/ - 3MV Energy Corp. ("3MV" or the "Company") (TSXV:TMV.V) announces that Dallas C. Duce, a director of 3MV, has been appointed interim Chief Executive Officer. Dallas C. Duce has been a director of 3MV since November 4, 2010. Mr. Duce is an electrical technologist and owns Duce Developments Ltd. in Estevan, Saskatchewan. He is also the former owner of Duce Oil, which was a private oil and gas exploration and production company based in Estevan, Saskatchewan that was [Read more]
Donnycreek Provides Operations Update
CALGARY, ALBERTA--(Marketwired - May 23, 2013) - THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it currently has 322 gross (226 net) sections of Montney lands in the greater Kakwa / Wapiti / Chicken area of Alberta and is producing approximately 640 boe/d (54% liquids) from two of its three Kakwa [Read more]
NuVista Energy Ltd. Provides Operational Update
CALGARY, ALBERTA--(Marketwired - May 22, 2013) -NuVista Energy Ltd. ("NuVista") (NVA.TO) is pleased to provide an update on recent Wapiti Montney well results and company production levels. Results from our latest wells illustrate the continued progression of reducing costs and improving well performance. Drilling program results continue to meet and, in some cases, exceed type curve. In particular, condensate yields have been exceeding expectations, driving better than expected [Read more]
Oil falls near $94 on small drop in supplies
(AP) The price of oil fell near $94 a barrel Wednesday as the nation’s oil supply fell less than expected and demand for gasoline remained weak. Benchmark crude for July delivery declined $1.90 to close at $94.28 a barrel on the New York Mercantile Exchange. The Energy Department said U.S. crude oil supplies declined by 300,000 barrels last week to 394.6 million barrels. Analysts expected a decrease of 1.2 million barrels. Gasoline supplies grew by 3 million barrels. At 220.7 million [Read more]
Arcan Appoints Terry McCoy as Permanent CEO; Promotes Mark Smith to COO
CALGARY, ALBERTA--(Marketwired - May 22, 2013) -Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Corporation") is pleased to announce two key executive appointments. Arcan's board of directors has appointed J. Terry McCoy to chief executive officer ("CEO") of the Corporation. Mr. McCoy, who is also an Arcan director, has been acting as interim CEO since August 2012. As well, Mark Smith has been promoted to chief operating officer ("COO") of the Corporation. These changes are effective [Read more]