NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Kelowna, British Columbia (FSCwire) - Georox Resources Inc. ("Georox" or the "Corporation") (GXR: TSX-V; OF6A:FRA) Georox is pleased to announce that the waterflood project at Red Earth, Alberta is near completion. The project was announced in a press release dated September 8, 2017. The waterflood project has the goal to significantly improve the production and netback economics. In [Read more]
Headlines
Pine Cliff Energy Ltd. Announces 2018 Guidance, Commodity Risk Management and 2017 Year-End Reserves
CALGARY, Alberta, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX:PNE) is pleased to announce 2018 guidance, an update on its commodity risk management and 2017 year-end reserves. 2018 Guidance Pine Cliff’s Board of Directors has approved a 2018 capital budget of $10.4 million that will be funded from cash flow at an AECO reference price of $1.50 per Mcf for 2018. Pine Cliff intends to spend approximately $4.0 million drilling six gross (1.2 net) [Read more]
Canada will do what it must to prevent B.C. from stopping pipeline, says Carr
OTTAWA - Natural Resources Minister Jim Carr says the government will not entertain any attempts by British Columbia to stall or stop the expansion of the Trans Mountain pipeline. "If that is the goal of any province, we will take the necessary action to ensure that federally approved resource projects proceed." Carr said Monday. When asked if that includes taking B.C. to court, he said Canada has "all kinds of options" to exert its constitutional authority over interprovincial [Read more]
Advantage Announces 2017 Year-End Reserves & Operations Update
Low Cost Reserve Additions and Record 2017 Production & Operating Performance (TSX: AAV, NYSE: AAV) CALGARY, Feb. 12, 2018 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report that the Corporation's 2017 Montney development program replaced 433% of annual production, generated low cost reserve additions in each reserve category and extended liquids rich reserve bookings beyond Glacier to our Valhalla land block. Reserve additions at Glacier were [Read more]
Return Energy Announces Commencement of Drilling Operations at Rycroft
CALGARY, Feb. 12, 2018 /CNW/ - Return Energy Inc. ("Return" or the "Company") (TSX-V: "RTN"), through its wholly-owned subsidiary, Winslow Resources Inc., ("Winslow") is pleased to announce that drilling operations have commenced at its Rycroft property north of Grande Prairie, Alberta. The current program is configured to test a northwest extension of the Rycroft Charlie Lake "S" pool from the currently producing 100/10-27-076-06W6/00 oil well. Pending favourable results from the initial well [Read more]
Zargon Oil & Gas Ltd. Announces Q4 2017 Production Volumes and 2017 Year End Reserves
CALGARY, Alberta, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Zargon Oil & Gas Ltd. (the “Company” or “Zargon”) (TSX:ZAR) (TSX:ZAR.DB.A) announces fourth quarter 2017 production volumes and announces 2017 year end reserves. Zargon intends to release its 2017 audited financial results on March 15, 2018, after market close. 2017 FOURTH QUARTER PRODUCTION VOLUMES: Fourth quarter 2017 production averaged 2,416 barrels of oil equivalent per day, slightly lower than the fourth quarter 2016 rate of 2,449 [Read more]
Suncor Energy acquires additional interest in Syncrude and interest in Norway’s Fenja field
All financial figures are in Canadian dollars, unless otherwise noted CALGARY, Alberta, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Suncor today announced it has reached an agreement to acquire Mocal Energy’s 5% interest in the Syncrude joint venture for US$730 million, or approximately Cdn$920 million, subject to closing adjustments. The transaction will be effective as of Jan.1, 2018 and is anticipated to close in the first quarter of 2018. “This transaction reflects our confidence in the [Read more]
Oil prices tumble as hedge funds liquidate record bullish position: Kemp
LONDON, Feb 12 (Reuters) - Hedge funds have started to liquidate some of their record bullish positions in crude oil and refined fuels as the rally has gone into reverse and amid signs that U.S. shale production is surging. Hedge funds and other money managers cut their combined net long position in the six most important futures and options contracts linked to petroleum by the equivalent of 41 million barrels in the week to Feb. 6. The combined net long position has been cut by a total of [Read more]
Crude Observations: Closure on Trans Mountain spat (until the next time)
So there I sat last Thursday, at home, watching Calgary Snowpocalypse 2018 unfold all around me. Calgary received at last count about 35 to 50 cm of snow in 24 hours. In non-metric speak, that is about 12 to 18 inches. Part and parcel of that is a snow day, because driving in these conditions can at best be described as white knuckled terror. Of course as we all know, it’s not the driving so much as the drivers. Anyway, there I sat, wondering if I should go to the well one last time on this [Read more]
Oil and gas price shocks make producers hedge their bets with forward contracts
CALGARY - Like gamblers who have been burned too often, Canadian energy producers are lining up to "hedge their bets" on oil and gas by locking in price contracts today for deliveries to be made months or years from now. Observers say more companies than ever are hedging future volumes, shocked by events like this week's plunge in benchmark American oil prices from three-year highs above US$65 per barrel, as well as memories of the collapse to below US$30 in early 2016. Hedging [Read more]