Strategic Oil & Gas Ltd. ("Strategic" or the "Company") is pleased to announce that it has approved a 2013 capital budget of $75 million. The Company will continue to build on its success and dominant position at Steen River. The 2013 capital budget includes drilling 20 gross (18.8 net) wells, 18 gross (18 net) of which will be at Steen River targeting proven light oil producing horizons. The Company has planned for 2 gross (0.8 net) wells being drilled in its non-operated Maxhamish [Read more]
Headlines
Sonde Resources Corp. Announces Initial 2012 Year-End Reserves
Sonde Resources Corp. has received, and the Board of Directors has adopted, its initial 2012 year-end reserves report containing a summary of proved plus probable reserves and before-tax present values and cash flows. Sonde''s working interest proved plus probable ("2P") reserves were 9,432 Mboe at December 31, 2012, compared to 9,507 Mboe for the previous year. Sales for 2012 totaled 871 Mboe, compared to 2011 sales of 1,021 Mboe. The decrease in production year over year can be attributed [Read more]
Oil price slips to near $95 a barrel in Europe in muted trading due to US public holiday
The price of crude oil slipped closer to $95 a barrel on Monday, with energy investors keeping to the sidelines as U.S. markets were closed for Martin Luther King, Jr. Day. By early afternoon in Europe, benchmark oil for February delivery was down 24 cents to $95.25 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 7 cents to finish at $95.56 per barrel on the Nymex on Friday. "Due to the lack of major economic indicators, investors will be [Read more]
Rig Count Continues to Rise into Drilling Season
[table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`458`143 Last Week`388`143 Last Year`470`184 Week over Week Change`+70`+ Year over Year Change`-12`-41[/table] [table] [attr style="width: 20%"]`[attr style="width: 30%"]`[attr style="width: 25%"]Oil`[attr style="width: 25%"]Gas [attr rowspan="5" [Read more]
Surge Announces its 2013 Capital Budget and Guidance and Provides an Operations Update
Surge Energy Inc. is pleased to announce its 2013 capital budget and guidance and provide an operations update. 2013 BUDGET, GUIDANCE AND CORPORATE GOALS: Surge's board of directors has approved a capital budget of $140 million for 2013 with a balanced approach of production growth (approximately 16 percent growth in average daily production per share) and unlocking additional value in its high quality, large DPIIP1 light oil assets. Surge has allocated approximately $124 million to its [Read more]
PetroBakken Announces Share Position in Junior Oil Producer
PetroBakken Energy Ltd. announces that we have acquired 4,786,700 common shares of TriOil Resources Ltd. ("TriOil") at an average price of $2.87 per share. These shares, which represent approximately 7.5% of the issued and outstanding shares of TriOil, were acquired through the facilities of the CNSX Pure Trading exchange. As a result of this acquisition, PetroBakken now owns 11,050,330 common shares of TriOil, representing approximately 17.3% of the total issued and outstanding common shares of [Read more]
Oil above US$95 on strong US housing, jobs data; concern over attack in Algeria
The price of oil rose to a four-month high Thursday on positive reports about the U.S. economy. Benchmark West Texas Intermediate crude gained $1.25 to finish at US$95.49 a barrel, the highest close for crude on the New York Mercantile Exchange since Sept. 17. Oil has now gained four per cent this year. Strong reports on housing starts and fewer unemployment claims made traders more optimistic about the U.S. economy. Builders started work on homes in December at the fastest [Read more]
Arsenal Announces Increased Credit Facilities
Arsenal Energy Inc. is pleased to announce that as a result of reserve additions and production increases from its 2012 drilling activity, Arsenal''s banking syndicate has increased its credit facility from $75 to $85 million effective immediately. The Company''s next review date is scheduled for May 31, 2013. To receive Company news releases via e-mail, please advise info@arsenalenergy.com and specify "Arsenal Press Releases" in the subject line. Reader Advisory Certain statements and [Read more]
Petroleum Product Inventory Update to January 11
[table] [attr style="width: 24%"]Product`[attr style="width: 24%"]January 11`[attr style="width: 24%"]January 4`[attr style="width: 14%"]Change`[attr style="width: 14%"]% Change Crude Oil`360,302`361,253`-951`-0.3% Gasoline`234,995`233,085`+1,910`+0.8% Distillate`132,430`130,744`+1,686`+1.3% Propane`63,956`65,572`-1,616`-2.5% Jet Fuel`40,439`39,630`+809`+2.0% Unfinished Oils`82,002`81,846`+156`+0.2% Residual Fuel Oil`36,204`35,566`+638`+1.8% [attr style="font-weight:bold"]Total`[attr [Read more]
Hemisphere Energy Announces Positive Third Quarter Results and Operations Update
Hemisphere Energy Corporation is pleased to announce its financial and operating results for the three and nine months ended November 30, 2012. All amounts are expressed in Canadian dollars. Achievements and Highlights Increased third quarter revenue by 114% to $2.7 million compared to $1.3 million in the same quarter of the previous fiscal year. Increased revenue for the first nine months by 293% to $7.2 million compared to $1.8 million in the same period last year. Increased third [Read more]