CALGARY - Torc Oil and Gas Ltd. shares surged Tuesday after the Calgary-based energy company announced a big jump in reserves and production. The stock was up nearly 11 per cent at $1.93 on the Toronto Stock Exchange in early afternoon trading. It was the most active issue, with 16 million shares changing hands. The Calgary-based company (TSX:TOG) said an independent evaluation at year-end found its proved plus probable reserves increased to 18.9 million barrels of oil [Read more]
Headlines
Tamarack Valley Energy Ltd. Announces 98% Increase to Proved Plus Probable Reserves Including a 160% Increase to Oil and Natural Gas Liquids Reserves
CALGARY, ALBERTA--(Marketwire - Mar 12, 2013) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce the results of its independent reserves evaluation as at December 31, 2012. The Company filed its Annual Information Form ("AIF") today, which included information pursuant to the requirements of National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") of the Canadian Securities Administrators relating to reserves [Read more]
Talisman Energy scraps troubled Yme project in Norwegian sector of the North Sea
CALGARY - Talisman Energy (TSX:TLM) said Tuesday it has signed a deal with SBM Offshore to cancel and scrap its Yme project in the North Sea, which has faced a number of problems and delays. The company said a new solution is needed in order to develop the Yme field. Talisman said the project's first mobile offshore production unit will be removed and scrapped, while the undersea structure will be transferred from SBM to the Yme licence holders. The deal Tuesday will see SBM [Read more]
Interview with Josef Schachter
We interviewed oil and gas analyst Josef Schachter on his outlook of the industry--in particular his thought's on Canada's E&P sector. Press the ‘play button’ to listen below: [Read more]
DeeThree Exploration Announces Exercise and Closing of Over-Allotment Option
CALGARY, ALBERTA--(Marketwire - March 12, 2013) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES DeeThree Exploration Ltd. ("DeeThree" or the "Corporation") (DTX.TO)(DTHRF) is pleased to announce it has issued an additional 663,000 common shares at $6.80 per common share for gross proceeds of $4,508,400 pursuant to the exercise in full of the over-allotment option in connection with the previously-announced short-form prospectus [Read more]
PetroBakken plans smaller 2013 capital budget but higher average daily output
By The Canadian Press CALGARY - PetroBakken Energy Ltd. (TSX:PBN) says it plans $675 million in capital spending this year, about 30 per cent less than in 2012 or 2011 before adjusting for dispositions. The company's outlook, included with its fourth-quarter and annual results, calls for the Calgary-based oil and gas producer to produce the equivalent of between 46,000 and 48,000 barrels per day on average this year. That would be up from 42,784 barrels per day last year and [Read more]
TORC Oil & Gas Ltd. Announces Fourth Quarter and Year-End Financial & Operating Results and 2012 Year-End Reserves
CALGARY, March 12, 2013 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG.TO) is pleased to announce its financial and operating results for the three month periods and years ending December 31, 2011 and 2012, and to provide its 2012 year-end reserves information as evaluated by Sproule Associates Limited ("Sproule"). TORC completed the acquisition of Vero Energy Inc. ("Vero") effective November 19, 2012 and all figures are pro forma Vero as of that date. The associated [Read more]
Tourmaline Oil Corp. Announces Closing of Bought Deal Financing Including Exercise in Full of Over-Allotment Option
CALGARY, ALBERTA--(Marketwire - March 12, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. Tourmaline Oil Corp. (TOU.TO) ("Tourmaline" or the "Company") is pleased to announce that it has closed its public offering of 5,750,000 common shares at a price of $34.25 per share, which includes 750,000 common shares issued pursuant to the exercise in full [Read more]
Surge Energy Inc. Announces Significant Exploration Drilling Success at Nipisi South, Valhalla and Silver Core Areas
CALGARY , March 12, 2013 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (SGY.TO) is pleased to announce significant new pool additions and pool extensions at three of its primary operating properties. Western Alberta: Nipisi South (Slave Point) - New Light Oil Pool Discovery Surge has successfully drilled, completed and brought on production a horizontal well (13-36-76-9W5; 73 percent working interest or "WI") at Nipisi South for a total cost of $3.2 million . The horizontal [Read more]
PetroBakken Announces Fourth Quarter Results With Production of 47,192 Boepd and Funds Flow from Operations of $168 Million
CALGARY, ALBERTA--(Marketwire - March 12, 2013) - PetroBakken Energy Ltd. (the "Company" or "PetroBakken") (PBN.TO) is pleased to announce our fourth quarter and year-end 2012 financial and operating results. FINANCIAL & OPERATING HIGHLIGHTS In this press release, annual comparisons are 2012 compared to 2011 and quarterly comparisons are fourth quarter 2012 compared to fourth quarter 2011, unless otherwise noted. All references to well counts are on a net basis. December 2012 [Read more]