With increased heavy oil production putting a squeeze on export capacity and Keystone XL and other pipeline alternatives years away from completion, TransCanada is weighing other options to address the heavy oil differential. One possibility would be to send crude to the east coast via The Canadian Mainline; a 14,000 kilometre natural gas pipeline which could be converted to carry crude. Watch the story below courtesy CBC: [Read more]
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Bellatrix announces reset of fixed prices on existing summer 2013 natural gas commodity contracts and an updated corporate presentation
BellBellatrix Exploration Ltd. ("Bellatrix" or the "Company") announces that it has reset the fixed prices on two of its existing natural gas commodity price risk management contracts and that it has posted an updated Corporate presentation. Bellatrix recently reset the fixed prices on two of its commodity price risk management contracts for natural gas fixed price swaps. The first existing swap contract for 20,000 GJ/d for the period April 1, 2013 to October 31, 2013 was reset from a price [Read more]
Storm Resources Ltd. Announces Grant of Stock Options
STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) announces that it has granted stock options ("Options") to purchase an aggregate of up to 1,449,000 common shares in the capital of Storm pursuant to its stock option plan, of which 798,000 Options were granted to the directors and officers of Storm. All of the Options have an exercise price of $1.75, vest over three years and expire on January 28, 2017. Storm began operations in August, 2010. Storm is headquartered in Calgary, Alberta and is [Read more]
Connacher Announces Renewed Credit Facility
Connacher Oil and Gas Limited (CLL - TSX; "Connacher" or the "Company") is pleased to announce that the borrowing base under the Company's revolving credit facility with a syndicate of Canadian lenders has been set at $ 95 million . The terms of the facility are otherwise unchanged. There are no outstanding amounts owing other than approximately $2.2 million in letters of credit. The Company's 2013 capital program is well under way. At Algar, the re-drill of the 202-1 well pair has been [Read more]
Manitok Energy Inc. Announces Amendment to Normal Course Issuer Bid
Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) announces that it has received the approval of the TSX Venture Exchange (the "Exchange") to amend its normal course issuer bid (the "Bid"). The amendment to the Bid (the "Amendment") permits Manitok to increase the number of common shares in the capital of Manitok ("Common Shares") that may be repurchased under the Bid. All other terms of the Bid remain unchanged. Prior to the Amendment, Manitok had approval to repurchase [Read more]
DeeThree Exploration Announces $30 Million Bought Deal
DeeThree Exploration Ltd. (the "Company" or "DeeThree"), is pleased to announce that it has entered into an agreement, on a bought deal basis, with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. (book runner), Raymond James Ltd., and Cormark Securities Inc., and including Dundee Securities Ltd., Stifel Nicolaus Canada Inc., and Casimir Capital Ltd. (collectively, the "Underwriters"), to purchase 4,420,000 common shares of the Company (the "Common Shares") at a price [Read more]
Raging River Exploration Inc. Announces 215% Increase in 2012 Year End Reserves and an Operational Update
Raging River Exploration Inc. ("Raging River" or the "Company") (TSX VENTURE:RRX) is pleased to announce its 2012 year-end oil and gas reserves evaluation. The material increase in reserves reflects exceptional organic reserves growth in addition to several accretive acquisitions completed throughout 2012. Reserve Report Highlights: Increased proven plus probable reserves by 215% to 17.2 mmboe (95% oil) and proven reserves by 201% to 11.5 mmboe (95% oil). Proven reserves represent 67% of [Read more]
Oil edges higher to US$96.44 amid strong durable goods news, weaker housing data
NEW YORK - The price of oil rose Monday after a strong durable goods report from the U.S. Commerce Department. Demand for long-lasting manufactured goods rose sharply in December with gains in volatile aircraft orders, the Commerce Department said. But the number of pending home sales fell last month after hitting a 2 1/2 year high in November. Benchmark West Texas Intermediate crude rose 56 cents to finish at US$96.44 a barrel on the New York Mercantile Exchange. Meanwhile, [Read more]
Canadian government moves to defend oilsands pipelines again…this time on US East Coast
The Canadian government has moved to defend the oil industry from yet another public-relations fire related to pipelines - this time on the U.S. East Coast. Canada's envoy to New England penned an editorial today in a Maine newspaper, two days after more than 1,000 protesters in the state expressed concern Alberta oil could soon flow across the region. Consul General Pat Binns says in his op-ed that the environmental record of oilsands production has improved in recent [Read more]
VIDEO: LNG: The Safe Fuel
Here's a classic video demonstrating how Liquified Natural Gas is one of the safest fuels for transport and use. [Read more]