Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it will be participating in the drilling of a new non-operated Montney well, immediately adjacent to Donnycreek's original 16.75 section 50% working interest Kakwa land block. The operator of the well has advised that spud is expected mid-February 2013. Donnycreek will participate as to a 23.75% working interest (subject to a 5% GORR) and after drilling this new exploratory well, Donnycreek will earn a similar [Read more]
Headlines
Nenshi on Keystone PR: The ball has been dropped
Calgary's mayor says both government and the oil industry have dropped the ball when it comes to promoting TransCanada Corp.'s proposed Keystone XL pipeline. Naheed Nenshi recently returned from a world economic forum in Switzerland. He says discussions about the project made it clear to him that Canada has not done a good enough job of winning over global leaders. Nenshi says he has become an advocate of the pipeline because Calgary-based TransCanada's (TSX:TRP) project is [Read more]
AltaGas Ltd. and Idemitsu Kosan Co., Ltd. Form Partnership to Pursue Opportunities to Export Energy From Canada
AltaGas Ltd. ("AltaGas") (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U) and Idemitsu Kosan Co.,Ltd. ("Idemitsu") (Tokyo Stock Exchange: 5019) today announced that the companies have signed an agreement to form the AltaGas Idemitsu Joint Venture Limited Partnership ("Partnership"). The Partnership plans to pursue opportunities involving exports of liquefied petroleum gas ("LPG") and liquefied natural gas ("LNG") from Canada to Asia. AltaGas and Idemitsu will each own a 50 percent interest in the [Read more]
Oil jumps above $97 as US home prices rise and stocks chase records
NEW YORK, N.Y. - The price of oil climbed above US$97 a barrel as home prices in the U.S. accelerated and stock markets resumed their rise toward record levels. Benchmark West Texas Intermediate crude for March delivery rose US$1, or 1 per cent, to US$97.44 a barrel around midday on the New York Mercantile Exchange. Oil hasn't closed above US$97 in New York since Sept. 14. Oil is now up more than US$5 a barrel this year. Signs of improvement in the global economy are driving [Read more]
Oil shipments a big opportunity for Canadian Pacific as pipelines squeezed
CALGARY - Oil shipments present the single biggest growth opportunity for Canadian Pacific Railway Ltd. as a pipeline squeeze forces energy firms to get their product to market by other means, the company's chief marketing officer said Tuesday. If volumes keep up at their current rate, the railway (TSX:CP) is poised to ship more than 70,000 carloads of crude per year, Jane O'Hagan told analysts on a conference call to discuss Canadian Pacific's fourth-quarter results. During the [Read more]
Value of M&A activity up 10.5% at $210B in 2012 despite fewer deals: PwC
Toronto - There were fewer merger and acquisition deals in Canada last year but their dollar value climbed to the highest level since the market peak in 2007 — a trend that's expected to continue in 2013, PwC Canada said Tuesday. The business consultancy said that despite a 9.6 per cent decline in the number of deals, the value of M&A activity rose 10.5 per cent in 2012 to $210 billion. "The key driver behind this growth has been a resurgence of activity in deals valued at [Read more]
VIDEO: TransCanada considers converting cross-Canada gas pipeline
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]
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]