If you have been following the price of oil over the last few months, the chances are you're a little confused. On the one hand you have the likes of A. Gary Shilling who, in this Bloomberg article, loudly trumpets the prospect of oil at $10/Barrel, and on the other there is T. Boone Pickens, who, at the end of last year was predicting a return to $100 within 12-18 months. Pickens prediction has moderated somewhat as WTI and Brent crude have continued to fall, but in January he was still saying [Read more]
Headlines
Kicking Horse Energy Announces Updated Reserves
CALGARY, AB--(Marketwired - February 23, 2015) - Kicking Horse Energy Inc. ("Kicking Horse" or the "Company") (TSX VENTURE: KCK) reports that independent reserves evaluations effective December 31, 2014 have been completed by the Company's reserves evaluators in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and in accordance with the Canadian Oil and Gas Evaluation Handbook. GLJ Petroleum Consultants Ltd. ("GLJ") evaluated the [Read more]
PrairieSky Royalty Announces 2014 Fourth Quarter and Year End Results; Maintains Dividend
CALGARY, ALBERTA--(Marketwired - Feb. 23, 2015) - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX:PSK) is pleased to announce its operating and financial results for the fourth quarter of 2014 and the 219 day period from commencement of operations on May 27, 2014 to December 31, 2014. In addition, PrairieSky announces that it will maintain its current dividend level of $1.30 per share per annum. Highlights: Acquired Range Royalty on December 19, 2014, adding 3.5 million acres [Read more]
As White House confirms plan to veto Keystone XL, five facts about its status
WASHINGTON - An attempt to force U.S. President Barack Obama to approve the Keystone XL pipeline is being rebuffed, with the White House confirming that the president will veto a pro-Keystone bill, the first legislation of its kind passed by Congress.It may be a milestone in a long debate — but it's not the end of the years-long saga, which involves plans to build a new oil pipeline from Alberta and connect it to an already-functioning portion in the southern U.S. Here are five facts about the [Read more]
Obama intends to quietly kill off Keystone XL bill, White House confirms
WASHINGTON - President Barack Obama is about to make good on his oft-stated threat to veto legislation to build the Keystone XL pipeline, a spokesman announced Monday."I would anticipate that, as we've been saying for years, the president would veto that legislation," Obama spokesman Josh Earnest told a press briefing."And he will."The Republican-controlled Congress passed the legislation earlier this month, and plans to send it to the president Tuesday. The president then has 10 days to send it [Read more]
IHS: Vast Majority of Crude Oil Transported via Keystone XL Pipeline Would Be Consumed in the United States
WASHINGTON--(BUSINESS WIRE)--Most, if not all, crude oil that would be transported via the proposed Keystone XL pipeline to the U.S. Gulf Coast would not be exported, and the vast majority of refined product (about 70 percent) derived from it would be consumed in the United States, according to a new report by IHS (NYSE: IHS), the leading source of critical information and insight. The report, which analyzes the outlook for oil sands and other heavy crudes in North America, also says that the [Read more]
Shell Canada withdraws regulatory application for Pierre River Mine
CALGARY, Feb. 23, 2015 /CNW/ - Shell announced today it is withdrawing its regulatory application for the proposed Pierre River Mine north of Fort McMurray, Alberta to focus attention on its existing oil sands operations. "The Pierre River Mine (PRM) remains a very long term opportunity for us but it's not currently a priority," said Lorraine Mitchelmore, Shell Canada President and Executive Vice President of Heavy Oil. "Our current focus is on making our heavy oil business as economically [Read more]
Artek Exploration Ltd. Announces Business Combination With Kelt Exploration Ltd.
CALGARY, ALBERTA--(Marketwired - Feb. 23, 2015) - Artek Exploration Ltd. (TSX:RTK) ("Artek" or the "Corporation") is pleased to announce that it has entered into an arrangement agreement (the "Arrangement Agreement") with Kelt Exploration Ltd. ("Kelt"), pursuant to which Kelt has agreed to acquire all of the issued and outstanding common shares of Artek ("Artek Shares") on the basis of 0.34 of a common share of Kelt ("Kelt Shares") for each Artek Share held (the "Transaction"). The [Read more]
Elkwater Resources Ltd. Announces Results of Shareholder Meeting, Including Approval of Share Consolidation and Name Change
CALGARY, ALBERTA--(Marketwired - Feb. 23, 2015) - Elkwater Resources Ltd. ("Elkwater" or the "Company") (TSX VENTURE:ELW) is pleased to announce the results of the annual general and special meeting of shareholders held on February 19, 2015 (the "Meeting"). SHARE CONSOLDIATION AND NAME CHANGE The Company is pleased to announce that it will proceed with the previously approved share consolidation and name change. On the effective date, which is expected to be on or about February 25, 2015, [Read more]
Kelt to Consolidate Its British Columbia Montney and Doig Assets Through the Acquisition of Artek Exploration
CALGARY, AB--(Marketwired - February 23, 2015) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") has entered into an agreement with Artek Exploration Ltd. ("Artek"), pursuant to which Kelt will acquire all of the issued and outstanding common shares of Artek on the basis of 0.34 of a Kelt common share for each Artek common share. The acquisition will be effected by way of a statutory plan of arrangement (the "Arrangement"). Based on the volume-weighted average trading price of the [Read more]