VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 14, 2015) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") announces that further to the Company's news release dated December 8, 2015, the Company's technical team and advisors tested the ground conditions again on December 11 and 13 for drilling the Bannock Creek 9A-5 exploration oil well. All parties determined that ground conditions were not yet ideal for moving heavy equipment to the well site. It is [Read more]
Headlines
Shell plans to shed 2,800 jobs after buying BG Group
LONDON (AP) — Royal Dutch Shell says it expects to cut 2,800 jobs once it completes its takeover of rival BG Group. The losses amount to about 3 percent of the combined workforce, and come on top of Shell’s previously announced plan to shed 7,500 staff and contractor positions. Shell agreed to buy British rival BG Group for $71 billion, or 47 billion pounds, in April. The deal will boost Shell’s oil and gas reserves by 25 percent and give it a bigger presence in the fast-growing liquefied [Read more]
Rock Energy Inc. Announces a 38% Increase in Total Proven Plus Probable Reserves as of November 30, 2015; Replacing 439% of Its Production During the Period
CALGARY, ALBERTA--(Marketwired - Dec. 14, 2015) - Rock Energy Inc. (TSX:RE) ("Rock" or the "Company") is pleased to report a corporate reserves update effective November 30, 2015. This reserves update was undertaken by Rock's independent reserve evaluator, GLJ Petroleum Consultants ("GLJ"). The report on such reserves (the "GLJ Report") was prepared in accordance with definition, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook National Instrument 51-101 [Read more]
Canadian Spirit Resources Inc. Announces Closing of Private Placement
CALGARY, ALBERTA--(Marketwired - Dec. 14, 2015) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)(OTCBB:CSPUF) is pleased to announce that, effective December 11, 2015, it has closed its previously announced private placement of Flow-through Shares (see News Release dated December 1, 2015). The private placement offering was for a minimum of 7,500,000 and a maximum of 12,500,000 common shares of the Corporation issued on a flow-through basis pursuant to the Income [Read more]
Striker Exploration Corp. Announces Operational Update and Agreement to Sell Non-Core Assets for $5.2 Million
CALGARY, ALBERTA--(Marketwired - Dec. 14, 2015) - Striker Exploration Corp. ("Striker" or the "Company") (TSX VENTURE:SKX) is pleased to announce an operational update and the entering into of a definitive agreement for the disposition of certain non-core assets for cash consideration of $5.2 million ("the Disposition"). Upon completion of the Disposition, Striker estimates that it will exit 2015 with a net debt of $8.0 million, or approximately 0.6 times debt to trailing cash flow. OPERATIONAL [Read more]
Encana Focuses 2016 Capital Program on Core Four Assets; Targets Margin Growth and Quality Corporate Returns
CALGARY, AB--(Marketwired - December 14, 2015) - (TSX: ECA) (NYSE: ECA) Encana released a highly disciplined 2016 capital program today which directs 95 percent of its total $1.5 billion to $1.7 billion planned investment to its core four assets. The company will continue to capture sustainable cost efficiencies and maintain operational momentum in its core four assets to grow high margin production, generate quality corporate returns and position the company for continued success in 2017. [Read more]
Pine Cliff Energy Ltd. Announces Closing of $185 Million Strategic Acquisition, Credit Facility Increase, TSX Listing Application and 2016 Guidance
CALGARY, ALBERTA--(Marketwired - Dec. 11, 2015) - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX VENTURE:PNE) is pleased to announce that its previously announced acquisition of certain natural gas weighted assets (the "Assets") in the Viking area of Central Alberta and Ghost Pine area of Central Alberta for cash consideration of $185 million, prior to any adjustments and rights of first refusal (the "Acquisition"), has now closed. The production of the Assets is currently [Read more]
Saturn Minerals Inc. Announces Addition to Advisory Board
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 11, 2015) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce that Wayne Slemp has joined the Advisory Board and is significantly bolstering the Company's operating technical team with regard to the Company's oil and gas projects. Wayne Slemp has over 43 years of experience in the oil and gas industry and 37 years directly related to drilling operations in Canada and internationally both [Read more]
Eagle Energy Trust Announces 2016 Capital Budget, 2016 Guidance and a Reduction in Monthly Distributions
CALGARY, ALBERTA--(Marketwired - Dec. 11, 2015) - Eagle Energy Trust ("Eagle" or the "Trust") (TSX:EGL.UN) announces that it has approved a 2016 capital budget of $10.2 million, provided 2016 guidance and reduced its monthly distributions from $0.03 per unit to $0.015 per unit ($0.18 per unit annualized). 2016 Budget Highlights: A 2016 capital budget of $10.2 million ($US 7.0 million for its operations in the United States and $0.9 million for its operations in Canada), with a corporate [Read more]
Oil price extends drop as International Energy Agency forecasts weaker demand next year
PARIS - The price of oil is falling further after the International Energy Agency forecast a decline in demand.The U.S. benchmark rate was down 21 cents on Friday at $36.55 a barrel, its lowest since early 2009, when the global economy was sinking into recession.The IEA said in a monthly report that growth in demand for oil will ease next year to 1.2 million barrels per day, from 1.8 million barrels a day this year.Production is increasing, further weighing on prices, largely due to OPEC [Read more]