EDMONTON - The Alberta government — squeezed by falling oil revenues and a growing population — has delivered a budget that holds the line on day-to-day spending but borrows billions to build roads, hospitals and schools. There are no new or increased taxes. The result is $6.3 billion in red ink. "We are having a tough time here," Finance Minister Doug Horner said Thursday before the 2013-14 document in the legislature. "We're going to have five million people in this [Read More…]
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Canada rig count down from last week, oil rigs slightly up
[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`509`146`655 Last Week`504`158`662 Last Year`514`167`681 Week over Week Change`+5`-12`-7 Year over Year Change`-5`-21`-26[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read More…]
Hemisphere Energy Commences Drilling in Jenner
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 7, 2013) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce drilling operations have commenced in the Jenner area of southeast Alberta. Hemisphere is targeting the oil-bearing sandstones of the Glauconitic formation with its first horizontal development well of 2013. This horizontal well represents the third well Hemisphere has drilled under the farm-in agreement announced in June 2012. Results will be made available [Read More…]
Canadian Natural on lookout for Montney deal, open to sale or joint venture
CALGARY - Canadian Natural Resources Ltd. is on the lookout for a deal that will unlock value from its vast shale holdings in northeastern B.C. It's a departure for the company, which has resisted the sorts of joint-venture deals that have been all the rage amongst its oilpatch peers in recent years. Canadian Natural (TSX:CNQ) is the largest player in the Montney formation, which stretches through parts of northeastern B.C. and northwestern Alberta. On Thursday, it said it is [Read More…]
COMMENTARY: Alberta Budget Prediction
By Derek Fildebrandt - Canadian Taxpayer Federation With the province’s budget about to come down in early March, it’s time to read the entrails of what Albertans can expect this year, and next. Since it became apparent in September that the government’s election commitments were worth as much as Nortel stock, the Tories have dropped many hints and have been busily spinning away at public opinion. Combined with the hard numbers, the government’s hints allow at least some prediction of what to [Read More…]
TSX rises alongside commodities, Dow industrials aim for 3rd day of record highs
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market is higher, reflecting rising commodities along with strong economic data and record performance on U.S. markets. The S&P/TSX composite index gained 35.14 points to 12,867.1. The Canadian dollar rose 0.12 of a cent to 97.07 cents US as Statistics Canada said the trade deficit with the world narrowed in January, falling to $237 million from $332 million in December. In New York, the Dow Jones [Read More…]
Bellatrix Exploration Ltd. Announces Year End 2012 Financial Results
TSX, NYSE MKT: BXE CALGARY, March 7, 2013 /PRNewswire/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) announces its financial and operating results for the year ended December 31, 2012. Forward-Looking Statements This press release, including the report to shareholders, contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the beginning of the management's discussion [Read More…]
Crew Energy Issues 2012 Fourth Quarter and Annual Financial and Operating Results
CALGARY, ALBERTA--(Marketwire - Mar 7, 2013) - Crew Energy Inc. (CR.TO) of Calgary, Alberta ("Crew" or the "Company") is pleased to present its financial and operating results for the three month period and year ended December 31, 2012. Highlights Funds from operations in the fourth quarter increased 20% over the prior quarter to $47.1 million or $0.39 per share which was an 18% increase over the prior quarter funds from operations per share; Net income in 2012 was $21.5 million or [Read More…]
Baytex Delivers Record Production And Strong Reserve Growth In 2012
CALGARY, ALBERTA--(Marketwire - Mar 7, 2013) - Baytex Energy Corp. ("Baytex") (BTE.TO) (BTE) reports its operating and financial results for the three months and year ended December 31, 2012 (all amounts are in Canadian dollars unless otherwise noted). Commenting on the results, James Bowzer, President and Chief Executive Officer of Baytex, said, "2012 was another very successful year for Baytex. In an environment which was especially challenging for heavy oil producers, Baytex was able to [Read More…]
Marquee Energy Ltd. announces 330% increase in Michichi core area reserves
CALGARY, March 7, 2013 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV:MQL.V) is pleased to announce the results of its 2012 year-end oil and gas reserves evaluation. Marquee's year-end 2012 reserves were evaluated by independent reserves evaluator Sproule & Associates Consultants Ltd. ("Sproule"). The evaluation of all of Marquee's oil and gas properties was done in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation [Read More…]
