EDMONTON - The Harper government needs to get moving on long-awaited regulations for the oil and gas industry, says the head of the Alberta agency that manages the province's effort to reduce industrial CO2 emissions.Eric Newell of the Climate Change and Emissions Management Corp. says he has a way for Ottawa to put a price on greenhouse gases without mentioning the two words that give federal Conservatives the heebie-jeebies."I'd like to distinguish between a carbon tax — which is universal at [Read more]
Headlines
Baytex Provides Update on Timing of Closing Aurora Acquisition and Exchange of Subscription Receipts for Common Shares
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) provides an update on the status of its proposed acquisition of Aurora Oil & Gas Limited ("Aurora") pursuant to a scheme of arrangement under Australian law (the "Arrangement"). On May 26, 2014 (in Perth), the Federal Court of Australia made orders approving the Arrangement between Aurora and its shareholders under which Baytex will acquire, through its wholly-owned subsidiary Baytex Energy [Read more]
Spartan Energy Corp. Announces Increase to Bought Deal Financing from $100 Million to $130 Million
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased to announce that it has increased its previously announced bought deal financing with a syndicate of underwriters co-led by Peters & Co. Limited, Clarus Securities Inc. and GMP Securities L.P., and including TD Securities Inc., Dundee Securities Ltd., Desjardins Securities Inc., FirstEnergy Capital Corp., AltaCorp Capital Inc., Macquarie Capital Markets Canada Ltd., [Read more]
Oil stays above US$104 as investors scrutinize crises in Ukraine and Libya
The price of oil remained above US$104 a barrel Tuesday as investors weighed how the conflicts in Ukraine and Libya were likely to affect crude supplies.By early afternoon in Europe, benchmark crude for July delivery was down 10 cents to $104.25 a barrel in electronic trading on the New York Mercantile Exchange. Due to a U.S. public holiday, the contract last settled on Friday, when it closed at $104.35.Brent crude, a benchmark for international oils, was down 18 cents to $110.36 on the ICE [Read more]
DeeThree Exploration Announces Completion of $73 Million Prospectus Offering
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - DeeThree Exploration Ltd. ("DeeThree" or the "Corporation") (TSX:DTX)(OTCQX:DTHRF) is pleased to announce that it has completed its previously announced short form prospectus offering (the "Offering"), raising gross proceeds of $73,429,220. The Offering was co-led by Cormark Securities Inc. and Macquarie Capital Markets Canada Ltd., on their own behalf and on behalf of Raymond James Ltd., CIBC, Dundee Securities Ltd., TD Securities Inc., [Read more]
Lightstream Announces New Swan Hills Battery, $98 Million Non-Core Asset Disposition and Provides Updated Guidance
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Lightstream Resources Ltd. ("Lightstream" or the "Company") (TSX:LTS), is pleased to announce that our new Swan Hills battery is operational and that we have entered into an agreement to complete a further non-core asset disposition for gross proceeds of $98 million. In connection with the disposition, we have updated our production guidance for the year. The Swan Hills region of our Alberta/BC business unit has become an area of focus and [Read more]
Spartan Energy Corp. Announces Southeast Saskatchewan Asset Acquisition, Upward Revision to Guidance and $100 Million Equity Financing
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased to announce a strategic southeast Saskatchewan light oil acquisition (the "Acquisition"). Spartan has entered into a definitive purchase and sale agreement to acquire properties from an arm's length oil and gas producer for consideration of $98 million. The assets to be acquired pursuant to the Acquisition (the "Assets") are currently producing approximately 1,000 boe/d [Read more]
Quattro releases 1st Quarter Financials Exiting at Over 1,500 BOEPD and Net Earnings of $0.09 per Share
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the "Company") is pleased to announce the filing of its first quarter 2014 financial statements, reporting CDN $0.09 per share earnings. The Company has reported the following results for the 3 months ending March 31st, 2014: • Revenues $ 4,166,100 • Net income from operations, $18.75 per boe "Net Back" $ 2,111,200 • Net [Read more]
U.S. imposes new conditions on Keystone XL pipeline construction
WASHINGTON - Safety regulators have quietly placed two extra conditions on construction of TransCanada Corp.'s (TSX:TRP) Keystone XL oil pipeline after learning of potentially dangerous defects involving the southern leg of the Canada-to-Texas project. The defects — high rates of bad welds, dented pipe and damaged pipeline coating — have been fixed. But the federal Pipeline and Hazardous Materials Safety Administration wants to make sure similar problems don't occur during construction of the [Read more]
Pinecrest Energy Inc. announces its first quarter 2014 results
CALGARY, May 26, 2014 /CNW/ - Pinecrest Energy Inc. ("Pinecrest" or the "Company") is pleased to announce that it has filed on SEDAR its unaudited financial statements and related Management's Discussion and Analysis ("MD&A") for the three month period ending March 31, 2014. The statements will be available for review at www.sedar.com or www.pinecrestenergy.com. March 31 Three months ended 2014 2013 FINANCIAL Petroleum and natural gas [Read more]