CALGARY, ALBERTA--(Marketwire - Feb. 19, 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 LAWS. AvenEx Energy Corp. ("AvenEx") (AVF.TO), Pace Oil & Gas Ltd. ("Pace") (PCE.TO), and Charger Energy Corp. ("Charger") (TSX VENTURE:CHX) announce that the special meetings of the shareholders of each of AvenEx, Pace and Charger scheduled for February 19, [Read more]
Headlines
Yangarra Provides Operations Update and Announces 2013 Capital Program
CALGARY, Feb. 19, 2013 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX-V:YGR.V) announces that December 2012 field production averaged 2,180 boe/d (50% oil and NGL's). Annual production for 2012 was 1,915 boe/d (40% oil and NGL's) which is a 52% increase in production per common share over 2011. Net capital expenditures in 2012 were scaled back to 60% of the planned $35 million budget due to low natural gas pricing, wet conditions in Central Alberta and infrastructure [Read more]
Drilling for oil: 1956 documentary shows enhanced recovery and horizontal drilling used nearly 60 years ago
An educational documentary from 1956's Science in Action series titled Drilling for Oil shows that many of the techniques used today in exploring and drilling for oil and gas are still very comparable to the techniques used in the 1950's. The show focuses on a discussion between the series' host and a guest expert in the oil and gas industry. The expert demonstrated enhanced oil recovery using water and gas injection (at the video's 13:15 mark) and horizontal drilling to target oil pools [Read more]
Canada rig count up from last week
[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`500`151`651 Last Week`480`151`631 Last Year`516`189`705 Week over Week Change`+20`+0`+20 Year over Year Change`-16`-38`-54[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read more]
Storm Resources Ltd. Announces Closing of Asset Disposition
CALGARY, ALBERTA--(Marketwire - Feb 15, 2013) - STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) advises that the disposition of 275 Boe per day of production in the Grande Prairie area of northwest Alberta, as announced on January 23, 2013, has closed. Proceeds from the disposition of $18 million, prior to normal adjustments, will be applied in reduction of bank debt. Pro forma net debt at December 31, 2012 is estimated to be $24 million after giving effect to this disposition and a smaller [Read more]
Pinecrest Energy Inc. Announces Stock Option Grant
TSX Venture Exchange: PRY CALGARY, Feb. 15, 2013 /CNW/ - Pinecrest Energy Inc. ("Pinecrest") announces that in conjunction with his appointment to V.P. Engineering, 400,000 stock options were granted to Mr. Darrin Drall at an exercise price of $1.34. Subsequent to this stock option grant, Pinecrest has a total of 15,516,666 stock options outstanding. Corporate Information Pinecrest's common shares trade on the TSX Venture Exchange under the symbol PRY. Pinecrest currently has [Read more]
US Oil prices fall over $2 on weak European economic data
By Canadian Press/BOE Report Oil prices fell below $96 after disappointing European economic figures highlighted the region's parlous growth outlook. Figures Thursday showed economic output in Germany, Europe's biggest economy, contracted by more than anticipated in the last three months of 2012. And France, Europe's second-biggest economy, also saw output drop. As a result, the recession across the 17 European Union countries that use the euro deepened during the quarter. Caroline [Read more]
AvenEx Energy Corp. Closes Sale of Elbow River Marketing Business
CALGARY, ALBERTA--(Marketwire - Feb. 15, 2013) - AvenEx Energy Corp. ("AvenEx") (AVF.TO) is pleased to announce that it has completed its previously announced sale of the assets of Elbow River Marketing Limited Partnership ("Elbow River") to a wholly owned subsidiary of Parkland Fuel Corporation ("Parkland") (PKI.TO) for Cdn.$80 million, subject to final closing adjustments. An electronic copy of this press release may be obtained on AvenEx's SEDAR profile at www.sedar.com. AvenEx was [Read more]
Enbridge, Energy Partners outline plan for shipping more crude to Gulf Coast
CALGARY - Enbridge Inc. (TSX:ENB.TO) and a partner are planning to convert some of their natural gas capacity to ship crude oil from a pipeline hub in Illinois to refineries in the eastern Gulf Coast refinery market. The Calgary-based pipeline company and Energy Transfer Partners would each own 50 per cent of the joint venture, which they expect to be in service by 2015. The plan requires U.S. regulatory approvals and Enbridge says its participation will depend on getting a [Read more]
Keyera posts $56.7 million profit in fourth quarter, reversing year-earlier loss
CALGARY - Midstream natural gas company Keyera Corp. (TSX:KEY.TO - News) posted a $56.7 million profit during the last three months of 2012, turning around a year-earlier loss. The net income amounted to 73 cents per share, compared to a loss of $21.2 million, or 30 cents per share, during the fourth quarter of 2011, Calgary-based Keyera said Thursday. Distributable cash flow was $74.4 million, or 96 cents per share, up from $51.2 million, or 72 cents per share. Capital [Read more]