TSX Venture Exchange: PRY CALGARY, Feb. 15, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest") announces that in conjunction with his appointment to V.P. Engineering, 400,000 stock options were granted to Mr. Darrin Drall at an exercise price of $1.34. Subsequent to this stock option grant, Pinecrest has a total of 15,516,666 stock options outstanding. Corporate Information Pinecrest's common shares trade on the TSX Venture Exchange under the symbol PRY. Pinecrest currently has [Read more]
News
US Oil prices fall over $2 on weak European economic data
By Canadian Press/BOE Report Oil prices fell below $96 after disappointing European economic figures highlighted the region's parlous growth outlook. Figures Thursday showed economic output in Germany, Europe's biggest economy, contracted by more than anticipated in the last three months of 2012. And France, Europe's second-biggest economy, also saw output drop. As a result, the recession across the 17 European Union countries that use the euro deepened during the quarter. Caroline [Read more]
AvenEx Energy Corp. Closes Sale of Elbow River Marketing Business
CALGARY, ALBERTA--(Marketwire - Feb. 15, 2013) - AvenEx Energy Corp. ("AvenEx") (AVF.TO) is pleased to announce that it has completed its previously announced sale of the assets of Elbow River Marketing Limited Partnership ("Elbow River") to a wholly owned subsidiary of Parkland Fuel Corporation ("Parkland") (PKI.TO) for Cdn.$80 million, subject to final closing adjustments. An electronic copy of this press release may be obtained on AvenEx's SEDAR profile at www.sedar.com. AvenEx was [Read more]
Enbridge, Energy Partners outline plan for shipping more crude to Gulf Coast
CALGARY - Enbridge Inc. (TSX:ENB.TO) and a partner are planning to convert some of their natural gas capacity to ship crude oil from a pipeline hub in Illinois to refineries in the eastern Gulf Coast refinery market. The Calgary-based pipeline company and Energy Transfer Partners would each own 50 per cent of the joint venture, which they expect to be in service by 2015. The plan requires U.S. regulatory approvals and Enbridge says its participation will depend on getting a [Read more]
Keyera posts $56.7 million profit in fourth quarter, reversing year-earlier loss
CALGARY - Midstream natural gas company Keyera Corp. (TSX:KEY.TO - News) posted a $56.7 million profit during the last three months of 2012, turning around a year-earlier loss. The net income amounted to 73 cents per share, compared to a loss of $21.2 million, or 30 cents per share, during the fourth quarter of 2011, Calgary-based Keyera said Thursday. Distributable cash flow was $74.4 million, or 96 cents per share, up from $51.2 million, or 72 cents per share. Capital [Read more]
Cenovus says oilsands expansions likely to go ahead, despite differentials
By Lauren Krugel CALGARY - Cenovus Energy Inc. can "power through" its new oilsands projects even though the company, like most Alberta crude producers, is getting a steep discount for its oil. CEO Brian Ferguson said Thursday that operating costs at its oilsands operations are low enough that it can turn a good profit even if the differential - the price gap between heavy Alberta crude and the U.S. benchmark - persists. "That gives us the ability to actually power through [Read more]
Gas storage drops 157 Bcf; Natural gas prices get slammed
February 1: 2,684 Bcf February 8: 2,527 Bcf Change: -157 Bcf [table] [attr style="width: 25%"]`[attr style="width: 25%"]February 8`[attr style="width: 25%"]February 1`[attr style="width: 25%"]Change East`1,187`1,303`-116 West`380`388`-8 Producing`960`993`-33 Total`2,527`2,684`-157 [/table] Source: EIA Source: CME Group [Read more]
Encana Finishes 2012 Ahead of Guidance and With $3.2 Billion Cash on Balance Sheet
CALGARY, ALBERTA--(Marketwire - Feb 14, 2013) - Encana Corporation (ECA.TO) (ECA) finished the year ahead of 2012 guidance as the company reported annual cash flow of $3.5 billion, or $4.80 per share, and $997 million in operating earnings, or $1.35 per share. In the fourth quarter of 2012 the company generated cash flow of $809 million, or $1.10 per share, and operating earnings of $296 million, or $0.40 per share. In addition, Encana ended the year with $3.2 billion in cash and cash [Read more]
TriOil Board and Special Committee appoint financial advisors
CALGARY, Feb. 14, 2013 /CNW/ - TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) announces that its board of directors (the "Board") has retained GMP Securities L.P. as lead financial advisor to the Board and Dundee Securities Ltd. as financial advisor to the Board to assist it in the strategic review of the Company's business plan and its consideration of additional means to enhance shareholder value. In addition, TriOil's committee of independent directors (the "Special [Read more]
Penn West Exploration Announces its Financial Results for the Fourth Quarter Ended December 31, 2012 and 2012 Year-end Reserve Results
CALGARY, Feb. 14, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST") is pleased to announce its results for the fourth quarter ended December 31, 2012 and year-end reserve results. All figures are in Canadian dollars unless otherwise stated. We are committed to maximizing the efficiency of our capital programs and the reliability of our production base while continuing to improve the company's balance sheet. We have actively changed the balance of our asset [Read more]