(TSX: AAV, NYSE: AAV) CALGARY, Feb. 26, 2013 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") announces that it has formed a special committee of independent directors (the "Special Committee") comprised of Mr. Steven Sharpe, as Chairman and Messrs. Stephen Balog and Ronald McIntosh, to oversee the strategic alternatives review process with the assistance of its advisors, FirstEnergy Capital Corp. and RBC Capital Markets. The Special Committee is working with its advisors to [Read more]
News
Chinook Energy Inc. Announces Its December 31, 2012 Reserves and Operations Update
CALGARY, ALBERTA--(Marketwire - Feb. 26, 2013) - Chinook Energy Inc. ("Chinook" or the "Company") (CKE.TO) today announced the results of its year-end reserve evaluations effective December 31, 2012 as prepared by its independent evaluators. The Company has also provided certain unaudited year-end financial information and an operations update. Chinook's audit of its 2012 annual consolidated financial statements is not yet complete and accordingly all financial amounts referred to in this news [Read more]
BlackPearl Announces Fourth Quarter and Full Year 2012 Financial and Operating Results
CALGARY, ALBERTA--(Marketwire - Feb. 26, 2013) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (PXX.TO)(OMX:PXXS) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2012. Highlights and accomplishments in 2012 included: Oil and gas production increased 23% in 2012 to 9,366 boe/day; Q4 2012 production was 9,067 boe/day, up 4% from the prior year; Oil and gas revenues increased 14% in 2012 to $205 million and cash [Read more]
BRAD WALL’S TURN: Saskatchewan’s Premier heads to Washington pushing for Keystone
REGINA - Saskatchewan Premier Brad Wall will be pushing for a pipeline and promoting Canadian energy in Washington next week. Wall will be in the American capital urging U.S. leaders to approve the Keystone XL pipeline, which would take heavy oil from Alberta to refineries on the Gulf Coast. U.S. Secretary of State John Kerry is expected to make the final decision on the $7-billion pipeline this spring. Wall also says he's concerned that Keystone approval is being linked to [Read more]
Repsol to hang on to Canaport LNG, signs 10 year supply deal with Shell
By Lauren Krugel CALGARY - Repsol is hanging on to its interest in the Canaport LNG facility, which was left out of a $6.7-billion asset sale to Royal Dutch Shell announced Tuesday, because low natural gas prices prevented it from fetching a fair price. Shell is paying $4.4 billion for Repsol's liquefied natural gas assets in Trinidad and Tobago and Peru, as well as a gas-fired power plant in Spain. It will assume another $2.3 billion in financial leases and debt. However, [Read more]
Imperial acquires 50-percent participating interest in Celtic Exploration following its acquisition by ExxonMobil Canada
Imperial has acquired a 50-percent participating interest in the Celtic Exploration acquisition by ExxonMobil Canada New operation will benefit from the combined expertise of ExxonMobil, XTO Energy and Imperial Oil in unconventional resource development CALGARY , Feb. 26, 2013 /CNW/ - Imperial Oil has acquired a 50-percent participating interest in Celtic Exploration Ltd. ("Celtic") following the close of its acquisition by ExxonMobil Canada today. This occurred by means of a sale of a [Read more]
Celtic Announces Completion of Acquisition by ExxonMobil Canada Ltd.
CALGARY, ALBERTA--(Marketwire - Feb 26, 2013) - Celtic Exploration Ltd. ("Celtic") is pleased to announce the successful completion of the previously announced plan of arrangement (the "Arrangement"), pursuant to which a subsidiary of ExxonMobil Canada Ltd. acquired all of the outstanding common shares of Celtic (the "Celtic Shares"), including the Celtic Shares issued upon the conversion of all of the outstanding 5.00% convertible unsecured subordinated debentures of Celtic due April 30, 2017 [Read more]
Survey suggests majority of North American E&P companies believe natural gas prices have bottomed-out
CALGARY - A new survey suggests the vast majority of North American exploration and production companies believe natural gas prices have hit bottom. The report by RBC Capital Markets and the Economist Intelligence Unit looked at the economic effects of growing shale gas production. A whopping 87 per cent of exploration and production market participants surveyed predict natural gas prices will stay the same or increase over the next two years. And 73 per cent of respondents [Read more]
Read all about it: Redford touts Keystone, Alberta’s record, in USA Today
EDMONTON - Alberta Premier Alison Redford is taking her message on the Keystone XL pipeline across the United States in the daily newspaper USA Today. In a guest column published in the newspaper, Redford touts the benefits of the pipeline, which - if approved - would take heavy oil from Alberta to refineries on the U.S. Gulf Coast. But Redford also emphasizes Alberta's record on the environment and its commitment to "reducing climate change." The premier notes that Alberta [Read more]
US Crude Oil Railroad Shipments Triple In 2012
OMAHA, Neb. - The amount of crude oil U.S. freight railroads hauled last year more than tripled as shale oil production surged in North Dakota and other locations. The Association of American Railroads trade group said U.S. freight railroads hauled 233,811 carloads of crude oil in 2012. That’s up from 65,751 carloads the previous year. Crude oil shipments still represent less than 1 percent of all the carloads railroads haul, but it has been growing significantly in recent years. [Read more]