[table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`289`129 Last Week`281`125 Last Year`351`180 Week over Week Change`+8`+4 Year over Year Change`-62`-51[/table] [table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" [Read more]
Headlines
Chinook Energy Announces Strategic Canadian Asset Acquisition and New Credit Facility
Chinook Energy Inc. is pleased to announce the following developments: Strategic Acquisition Effective April 1, 2012, Chinook acquired certain assets in the greater Grande Prairie area of northwestern Alberta from a senior producer for $31 million, before closing adjustments and related costs (the "Acquisition"). The acquired assets are within Chinook''s core Grande Prairie operating area and expand the Company''s Dunvegan and Doe Creek oil focus. Key attributes of the Acquisition are [Read more]
Athabasca Announces 2013 Capital Budget and Production Guidance
Athabasca Oil Corporation is pleased to announce its 2013 capital budget and production guidance. The Company plans to invest $798 million to develop its Light Oil and Thermal Oil assets in Alberta. Capital expenditures will be financed from cash-on-hand, low-interest debt and cash flow from production. Athabasca reaffirms that it is on track to exit 2012 with 10,000 to 11,000 barrels of oil equivalent per day (boe/d) from its assets in the liquids-rich Deep Basin. Positioning the Company for [Read more]
Long Run Announces Closing of Non-core Assets Sale
Long Run Exploration Ltd. announces that the Company has closed the previously announced disposition of its non-core Viking interests located in the Plato / Dodsland / Lucky Hills areas of Saskatchewan for total cash consideration of $180 million (subject to customary closing adjustments). Sale proceeds have been used to reduce the Company''s bank debt. As a result of this transaction, Long Run''s anticipated year-end net debt will be approximately $290 million. Long Run''s revolving, [Read more]
Japex to expand Hangingstone oilsands project alongside partner Nexen
By The Canadian Press CALGARY - A Japanese oil company is moving ahead with a $1.4-billion expansion to an oilsands project in which Nexen Inc. — soon to be acquired by China's CNOOC Ltd. — is a minority partner. Japan Petroleum Exploration Co., or Japex, plans to increase output at its Hangingstone project to 20,000 barrels per day, compared with the 6,000 to 7,000 it currently produces. Once that expansion phase starts up, Japex says it will decide on whether to expand production to [Read more]
Perpetual Reports Further Success on Asset Disposition Program, Provides Operational Update at Edson and Advises on Credit Facility Borrowing Base Review
Perpetual Energy Inc. is pleased to announce further positive results from the Corporation's ongoing asset disposition program. Subsequent to the end of the third quarter Perpetual has entered into definitive purchase and sale agreements for the divestiture of certain varied assets which will result in net realized proceeds of $8.2 million, subject to certain closing adjustments and transaction costs. These transactions are scheduled to all be closed on or prior to January 7, 2013. The [Read more]
Hemisphere Provides Operational Update
Hemisphere Energy Corporation is pleased to provide an operational update on its fall drilling program in Jenner, southeast Alberta. Hemisphere has finished drilling three horizontal wells targeting the oil-bearing sandstones of the Glauconitic formation. Each horizontal well targeted a different oil pool within the Company''s core Jenner area. A completion rig has been mobilized to Jenner to begin completion operations. Production results from these three new oil wells will be announced as [Read more]
Oil rises near US$87 after survey shows improvement in China’s manufacturing
By Pablo Gorondi, The Associated Press The price of oil rose to near US$87 a barrel Friday, boosted by a survey that showed the recovery in China's manufacturing is gathering strength. By early afternoon in Europe, benchmark West Texas Intermediate crude for January delivery was up 83 cents to US$86.72 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost 88 cents to end at US$85.89 a barrel in New York on Thursday. HSBC Corp. said the [Read more]
Strategic Oil & Gas Ltd. Announces Core Area Acquisitions, New Light Oil Resource Play, Expanded Credit Facility and Grant of Stock Options
Strategic Oil & Gas Ltd. is pleased to announce that it has entered into agreements to acquire certain assets in Strategic''s core area at Steen River, Alberta, (the "Acquisition"), for cash consideration of $23.6 million, subject to customary closing adjustments. The Acquisition will have an effective date of December 1, 2012 and is expected to close on December 21, 2012. SUMMARY OF THE ACQUISITION Strategic is acquiring a 100% working interest in 340 boe/d (83% light oil) of [Read more]
Palliser Oil & Gas Closes Flow-Through Share Financing
Palliser Oil & Gas Corporation is pleased to announce that it has completed the sale on a non-brokered basis of 1,462,631 common shares of Palliser on a flow-through basis (the "Flow-through Shares") at an issue price of $0.82 per Flow-Through Share (the "Offering") resulting in gross proceeds of $1,199,357 . Palliser has paid a finder's fees of an aggregate of $60,000 (6% on certain of the subscriptions) to net $1,139,357 from the Offering. Proceeds from the issuance of the Flow-Through [Read more]