OTTAWA - Two of the country's premiers are in Ottawa to deliver the message that all of Canada will reap the rewards of moving Canadian energy to coastal ports in order to sell it to international markets. New Brunswick Premier David Alward says "every province, every region, every community, every Canadian" will benefit from pipelines that would carry oil from western provinces to ocean ports. Alward and his Saskatchewan colleague, Brad Wall, are urging provinces like Quebec and Ontario [Read more]
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NuVista Energy Ltd. Announces Closing of Equity Financings
CALGARY, ALBERTA--(Marketwired - Oct. 29, 2013) - NuVista Energy Ltd. (TSX:NVA) ("NuVista") is pleased to announce that it has closed its previously announced private placement and public offering of an aggregate of 5,129,000 common shares issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) for gross proceeds of approximately $39.7 million. NuVista has completed a public offering of 3,200,000 common shares issued on a "flow-through" basis in respect of Canadian [Read more]
Edge Resources Inc. Announces Production Increase and Drilling Program Update, Revised Banking Facilities and Resignation of Director
CALGARY, ALBERTA--(Marketwired - Oct. 29, 2013) - Edge Resources Inc. (TSX VENTURE:EDE)(AIM:EDG) ("Edge" or the "Company"), is pleased to provide another production update on its vertical Eye Hill East well and, as a result, the intention to commence a further drilling program. In addition, the Company has renewed its credit facilities (the "Credit Facilities") with National Bank of Canada. The Company also announces the resignation of Vishnu Reddy from the Board. Production Update: As [Read more]
Most new drills in US produce both oil and natural gas
Source: U.S. Energy Information Administration, based on Drillinginfo In 2011 and 2012, more than 50% of new wells produced both oil and natural gas. Despite this phenomenon, many traditional methods for estimating oil and natural gas production attempt to track the development of oil and natural gas as separate rather than joint activities. The analytical framework of EIA's new Drilling Productivity Report (DPR) accounts for integrated production of natural gas and liquid [Read more]
Redford heads to Washington to talk Keystone
EDMONTON - Alberta Premier Alison Redford will make her fifth trip to Washington next month to speak about the need for the Keystone XL pipeline.She will meet with officials in the U.S. State Department as they finalize an environmental assessment of the proposed transcontinental pipeline.Redford says she will also meet again with Heidi Heitkamp, the Democratic senator from North Dakota who is a strong pipeline advocate.The premier leaves on Nov. 11 for the two-day trip, during a week when the [Read more]
No Ontario environmental assessment of Line 9
TORONTO - Ontario won't conduct its own environmental assessment of a plan to reverse the flow of the Line 9 oil pipeline that runs through the province, Energy Minister Bob Chiarelli said Monday.Calgary-based Enbridge Inc. wants to reverse Line 9 and increase its capacity to move 300,000 barrels of crude oil per day, up from the current 240,000 barrels.It has also asked for permission to move different types of oil between southwestern Ontario and Montreal, including a heavier form of crude.The [Read more]
B.C. announces funds for First Nations to get involved in clean energy
VANCOUVER -- A dozen British Columbia First Nations will share $1.3 million in provincial funding to develop clean energy, Aboriginal Affairs Minister John Rustad announced Monday during a speech to the Clean Energy Association of B.C. But some First Nations fear, despite the funding, that government interest in the green option is cooling in the shadow of the province's multibillion-dollar liquefied natural gas dreams. Judith Sayers, a former chief of the Hupacasath First Nation on [Read more]
Rethinking rig count as a predictor of natural gas production
Source: U.S. Energy Information Administration, based on Drillinginfo In the past, the number of gas-oriented drilling rigs in a particular region has been a common metric for estimating the production of natural gas. However, technological advances have led the way to the widespread use of new oil and natural gas extraction techniques that have opened up a hydrocarbon resource base dramatically larger than previous estimates. Because of these new methods of extraction, generally in wide [Read more]
Storm Resources Ltd. Announces $35 Million of Equity Financings, an Operations Update and Preliminary 2014 Guidance Including Capital Investment of $81 million
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2013) - STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) is pleased to announce that it has entered into an agreement for a $30.15 million bought deal financing and intends on concurrently completing a non-brokered financing for up to $5.025 million. In addition, Storm is pleased to provide an operations update and preliminary 2014 guidance that includes capital investment of $81 million. Equity Financing Storm has [Read more]
Blackbird Energy Announces Increase to Financing and Addition of Full Warrant to Units
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2013) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") announced today that due to demand, it is increasing the size of its previous announced private placement (the "Private Placement") from $1,500,000 to aggregate gross proceeds of up to $2,500,000. The Company is increasing the unit portion of the Private Placement by $1,000,000 for a total unit offering of up to $2,000,000. In addition, the units will now [Read more]