VANCOUVER, BC / ACCESSWIRE / April 12, 2019 / Red Pine Petroleum Ltd. (TSXV: RPN) (the "Company") today announced that Paul Chung and Ming Sheng have resigned as directors and, respectively, Chief Executive Officer and President, and Chief Financial Officer and Secretary of the Company. The Company has appointed Michael Lerner as Chief Executive Officer and director, and Matthew Fish as Chief Financial Officer to manage the affairs of the Company. The Company wishes to Mr. Chung and Mr. Sheng [Read more]
Headlines
TransCanada to cut spot rates for crude shipments to U.S. Midwest, Gulf Coast
TransCanada Corp's Keystone Pipeline filed with U.S. regulators this week to lower spot rates to ship crude from Canada to Illinois, Oklahoma and Texas: * TransCanada proposed to lower discounted rates for light crude volumes from or near Manitoba, Canada to Wood River, Illinois to $19.67 per cubic meter from $24.39, according a filing with the U.S. Federal Energy Regulatory Commission (FERC) this week; for heavy crude, it asked to cut rates to $21.70 from $25.79. * The company proposed [Read more]
U.S. drillers add oil rigs for second week in a row
U.S. energy firms this week increased the number of oil rigs operating for a second week in a row with crude futures up more than 40 percent so far this year.Companies added two oil rigs in the week to April 12, bringing the total count to 833, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is higher than a year ago when 815 rigs were active.The rig count fell for the past [Read more]
Canada Weekly Rig Count Down 2 to 66
Western Canada’s fleet of drilling rigs decreased by 2 rigs to a total of 66 according to data collected by Baker Hughes for the week of April 12th. From last Friday, Alberta rig counts went from 52 to 48. Saskatchewan's rig count remained at 1 Oil drilling went from 22 to 18; natural gas rigs went from 46 to 48. View a full breakdown of western Canada’s rig activity. [Read more]
Cardinal Energy Ltd. Announces Budget Update and Increase to Monthly Dividend
CALGARY, Alberta, April 12, 2019 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) is pleased to announce that with improved commodity pricing and the security of its oil hedging position that it is increasing its 2019 budget guidance and dividend rate. Budget Update: Using an average oil price of $57.50 WTI and a WCS differential of US $15.50 for the balance of 2019 we are now forecasting an increase of approximately 20% in adjusted funds flow to $110 to [Read more]
Chevron Announces Agreement to Acquire Anadarko
Strategic fit that enhances Chevron’s advantaged portfolio Delivers $2 billion in anticipated annual operating cost and capital synergies Accretive to free cash flow and earnings one year after close Share repurchase annual target increases by 25 percent to $5 billion SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Anadarko Petroleum Corporation (NYSE: APC) to acquire all of the outstanding [Read more]
U.S. super-light oil output rise roils Texas, Oklahoma markets
Growing production of Texas super-light oil - and worries about its quality compared with other types of crude - is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply there and adding to a glut in Texas.In the last several months, drillers are producing more oil known as West Texas Light (WTL), a type of crude that differs from what is blended at the Cushing, Oklahoma hub to produce the benchmark U.S. oil grade.Cushing, which currently has 46 million barrels in [Read more]
Connacher Announces Appointment of Chief Operating Officer
CALGARY, April 11, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") today announced that Gordon Trainor has been appointed Chief Operating Officer of Connacher. Mr. Trainor is a geologist with over 22 years of experience. Mr. Trainor has been Director, Engineering and Geosciences since December 2015 and prior to that was Connacher's Chief Geologist from 2012 to 2015. He has been responsible for all aspects of the Company's reserves, production, regulatory, land, [Read more]
Pipeline delays add appeal to creative options for oil transport, transformation
CALGARY - News that permitting issues in the U.S. would delay Enbridge Inc.'s Line 3 replacement pipeline project until the middle of 2020 instead of late this year means that yet another boost in oil export capacity has been kicked down the road. With both the Trans Mountain expansion and Keystone XL pipeline projects in court limbo, attention is turning to alternative ideas to expand Canada's ability to continue to get its oil to market. In a report to Natural Resources Minister Amarjeet [Read more]
Crescent Point Nominates New Directors for Board Election
CALGARY, April 11, 2019 /PRNewswire/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce that James E. ("Jim") Craddock and Jennifer F. Koury will stand for election to its Board of Directors (the "Board") at the Company's upcoming Annual General Meeting ("AGM"). "We're excited about having both Jim and Jennifer stand as new independent nominees," said Bob Heinemann, Chairman of the Board. "Through our search process, it was evident [Read more]