U.S. commercial crude oil inventories increased by 2.7 million barrels from the previous week, slightly above the expected build of ~2.3 million barrels. Total crude oil stocks of 388.6 million barrels are well above the upper limit of the average range for this time of year. Total commercial petroleum inventories decreased by 0.1 million barrels last week. [table] [attr style="width: 25%"]March 29`[attr style="width: 25%"]March 22`[attr style="width: 25%"]Change`[attr style="width: 25%"]% [Read more]
News
Lack of pipeline capacity costing Canadian oil producers billions: report
OTTAWA - A new report estimates Canada is losing billions of dollars in unrealized revenues because of its inability to efficiently get its oil to foreign markets. CIBC economists project that the country will continue to lose on average $15 billion a year from the price differential between world oil prices and what its producers get for shipments mostly to the United States. That represents about five per cent of gross domestic economies of Alberta and Saskatchewan. The [Read more]
Yoho Resources’ Current Production Approaches 3,700 boe Per Day, Acquires Incremental Duvernay Lands at Kaybob and Completes Land Swap at Nig
CALGARY, ALBERTA--(Marketwired - Apr 3, 2013) - Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) is pleased to provide an update of operations at Kaybob, Alberta and Nig, British Columbia. Kaybob, Alberta At Kaybob, Yoho's recently drilled Duvernay wells at Tony Creek at 14-21-62-21 W5 (75% working interest) and at 1-16-62-21 W5 (75% working interest) (press release February 4, 2013) along with the 13-22-62-21 W5 well (50% working interest) have been on-stream and producing [Read more]
Legacy Oil + Gas Inc. announces light oil corporate and asset acquisitions, increase to 2013 guidance and initiation of crude oil hedging program
CALGARY, April 3, 2013 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (TSX:LEG.TO) is pleased to announce the acquisition of light oil assets within the Company's core areas (the "Asset Acquisition") from a senior producer and the acquisition of Villanova Oil Corp. ("Villanova"), a Saskatchewan based private oil company, (together, the "Acquisitions"), an increase to Legacy's production guidance for 2013 and initiation of a crude oil hedging program. SUMMARY OF THE [Read more]
Alberta tabs oil veteran for regulatory role
EDMONTON – The Alberta government has chosen an oil industry veteran to head up a new board in charge of monitoring environmental rules. Gerry Protti has spent his career with numerous oil and gas companies and is the founder of the Canadian Association of Petroleum Producers. Protti was selected after a national search for someone to lead the Energy Regulatory Board that is to enforce rules on non-renewable resource development. His term is for five years. [Read more]
Expected lifespan of Terra Nova oilfield expanded by seven years to 2027
ST. JOHN'S, N.L. - Newfoundland and Labrador's offshore petroleum regulator says the life of the Terra Nova oil and gas field will be extended by seven years to 2027. The Canada-Newfoundland and Labrador Offshore Petroleum Board says upgrades completed by Suncor Energy (TSX:SU.TO) in January have allowed the field life to be extended from its original estimate of 2020. The upgrades made by the company include the replacement of flow lines at the field, which is about 350 [Read more]
ANNOUNCEMENT: New property sales featuring PNG Exchange listings
We're pleased to announce a new feature to the BOE Report's property sales: PNG Exchange listings. From PNGExchange.com: PNGexchange provides a web-based service to landmen and other oil and gas professionals looking to acquire or dispose of properties. PNGexchange.com benefits companies looking to divest properties by allowing the user to tailor their posting to their desire, while reaching the maximum number of interested parties in the marketplace. Conversely, it allows an acquiring [Read more]
TransCanada seeks binding commitments for project to pipe oil to Quebec, N.B.
CALGARY – TransCanada Corp. (TSX:TRP) has begun seeking firm commitments from parties interested in new capacity for piping oil from the West to the eastern provinces. The Energy East Pipeline project will involve 3,000 kilometres of existing natural gas pipeline converted to carry crude and 1,400 kilometres of new pipeline. The proposed system could stretch as far east as Saint John, N.B., where Irving Oil has a major refinery. It’s one of two proposals for moving oil from [Read more]
Edge Resources Inc. Provides Production Update
CALGARY, ALBERTA--(Marketwired - Apr 2, 2013) - Edge Resources Inc. ("Edge" or the "Company") (TSX VENTURE:EDE)(EDG.L) is pleased to announce that the first well of the Company's spring drilling program in Asset East (announced February 27, 2013), has been on production for the last thirty days and is producing better than expected. The well has averaged approximately 50 barrels of oil per day ("bopd") over the majority of the initial production period but has recently increased to over 60 [Read more]
TriOil Announces Fiscal 2012 and Fourth Quarter Financial Results, Year-End Reserves, Operations Update and Expanded Bank Lines
CALGARY, April 1, 2013 /CNW/ - TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) is pleased to announce that it has filed its audited financial statements and related Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2012 on SEDAR. Selected financial and operational information is outlined below and should be read in conjunction with TriOil's audited financial statements and related MD&A and Annual Information Form, available for review at [Read more]