NEW YORK, N.Y. - The price of oil fell Wednesday, as a drop in metals commodities overflowed to crude markets and stocks retreated from five-year highs. Benchmark West Texas Intermediate crude for April delivery dropped $2.14, or 2.2 per cent, to $94.96 a barrel in midday trading on the New York Mercantile Exchange. Brent crude, used to price many international varieties of oil imported by U.S. refineries, fell $1.54 to US$115.98 a barrel in London. The stock market backed off on [Read More…]
Headlines
Talisman cuts 90 jobs in Calgary office as part of reorganization
By Canadian Press Talisman Energy Inc. (TSX:TLM) has laid off 90 employees at its Calgary office. The Calgary-based international oil and gas producer says the job cuts are part of an effort to reorganize and streamline its Canadian operations. The company says low North American natural gas prices have caused it to reduce spending. It still has 1,500 employees in Canada, with 1,200 of those in Calgary. Talisman has been trying to reduce costs and better focus its operations since [Read More…]
Tourmaline Oil Corp. Increases 2013 Production Guidance and Capital Program and Enters Into Bought Deal Financing
CALGARY, ALBERTA--(Marketwire - Feb. 20, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. Tourmaline Oil Corp. (TOU.TO) ("Tourmaline" or the "Company") is pleased to announce that it is increasing 2013 average production guidance to 80,000 boepd from the original target of 75,000 boepd. The production increase is a direct result of Tourmaline's [Read More…]
Pine Cliff Energy Ltd. Becomes the Sole Shareholder of Skope Energy Inc.
CALGARY, ALBERTA--(Marketwire - Feb. 20, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Pine Cliff Energy Ltd. ("Pine Cliff") (TSX VENTURE:PNE) is pleased to announce that the restructuring of Skope Energy Inc. and Skope Energy International Inc. ("Skope") pursuant to the Companies' Creditors Arrangement Act (the "CCAA") is now complete. The Court of Queens' Bench of Alberta approved on February 19, 2013 the Plan of Compromise and Arrangement [Read More…]
Mulcair says NDP wants to “partner” with Alberta’s oilpatch :)
CALGARY - Federal NDP Leader Tom Mulcair came to the heart of oilpatch country with a message of openness to foreign investment, energy development and greater pipeline access, with one caveat — that they be pursued in a way the Canadian public can get behind. "The NDP will be a partner for the development of our energy resources when we form a government in 2015," Mulcair told a Calgary business community luncheon Tuesday. "We will work with you so that the rules are clear and [Read More…]
TriOil Announces Directors Approval of Shareholder Rights Plan, Appointment of Chairman of the Board and Strategic Process Update
CALGARY , Feb. 19, 2013 /CNW/ - February 19, 2013 - (TOL.V) TriOil Resources Ltd. ("TriOil" or the "Corporation") announces that its Board of Directors (the "Board") has adopted a Shareholder Rights Plan (the "Rights Plan") to be effective February 22, 2013 . The Corporation's previously adopted shareholder rights plan dated August 22, 2012 (the "Previous Plan") expires on February 22, 2013 . As TriOil has initiated a comprehensive strategic alternatives process, the Rights Plan has been [Read More…]
Key Supporters Join TransCanada in Washington, DC
WASHINGTON, DISTRICT OF COLUMBIA--(Marketwire - Feb 19, 2013) - TransCanada Corporation (TRP.TO) (TRP) (TransCanada) and key supporters of the Keystone XL pipeline gathered in Washington, DC to reiterate the facts that the pipeline remains vital to the national interest of the United States, increasing energy security, advancing energy independence, creating jobs and fuelling economic recovery. Joining TransCanada are representatives from the National Association of Manufacturers, Veterans in [Read More…]
Loonie hits seven-month low
By Malcolm Morrison TORONTO - The Canadian dollar traded at a fresh, seven-month low Tuesday amid worries centred on fears of massive U.S. government spending cuts, the housing market and oil prices. The loonie slipped 0.65 a cent to 98.74 cents US. The dollar has not had a good start to 2013, falling more than 1.5 cents US. Analyst say there is more than one issue putting pressure on the Canadian currency. For starters, there's the looming sequester in the U.S., [Read More…]
DeeThree Exploration Announces Completion of $30 Million Prospectus Offering
CALGARY, ALBERTA--(Marketwire - Feb. 19, 2013) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES DeeThree Exploration Ltd. ("DeeThree" or the "Corporation") (DTX.TO) (DTHRF) is pleased to announce that it has completed its previously announced short form prospectus offering (the "Offering"), raising gross proceeds of $30,056,000. The Offering was co-led by Macquarie Capital Markets Canada Ltd. (sole book runner), Raymond James Ltd. and [Read More…]
Lone Pine Resources Announces Non-Core Asset Disposition and Fourth Quarter & Full Year 2012 Earnings Release Date
CALGARY, ALBERTA--(Marketwire - Feb 19, 2013) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") (LPR.TO) announces that its wholly owned subsidiary, Lone Pine Resources Canada Ltd., has entered into a definitive agreement with a private oil and gas company to divest of certain non-core assets in the Herronton area of Alberta for total gross cash proceeds of $14.0 million, subject to normal course closing adjustments. Details of the assets to be sold are as follows: Estimated [Read More…]
