CALGARY, ALBERTA--(Marketwired - April 17, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird") and Pennant Energy Inc. (TSX VENTURE:PEN) ("Pennant") are pleased to announce that they have closed a plan of arrangement whereby Pennant has become a wholly-owned subsidiary of Blackbird. The consolidated entity is expected to carry on business as an oil and liquids focused emerging producer and will continue to trade on the TSX Venture Exchange (the "Exchange") under the name "Blackbird [Read more]
Headlines
Oil rises past $104 a barrel as Ukraine jiggers offset large rise in US crude supplies
NEW YORK - The price of oil rose past US$104 per barrel Thursday on worries over the upheaval in Ukraine.Benchmark West Texas Intermediate crude for May delivery rose 54 cents to close at US$104.30 a barrel in New York.Supplies in the U.S. are ample — the Energy Department reported the biggest gain in stocks in 13 years on Wednesday. But that wasn't enough to calm the fears of traders this week, who worry that Russia's actions in response to the turmoil in Ukraine could be met with sanctions [Read more]
Athabasca Exercises the Dover Put Option
CALGARY, April 17, 2014 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") announces that it has exercised its option to divest its 40% interest in the Dover Commercial Project ("DCP") to Phoenix Energy Holdings Limited ("Phoenix") for cash consideration of $1.32 billion (Cdn.) gross, approximately $1.23 billion (Cdn.) net of closing adjustments. Pursuant to the terms of its February 10, 2010 Put/Call Option Agreement with Phoenix, Athabasca's option to sell was [Read more]
Nova Scotia government ends tax break agreement with Imperial Oil
HALIFAX - The Nova Scotia government plans to end a tax break agreement with Imperial Oil (TSX:IMO) because it no longer operates a refinery in Halifax. Municipal Affairs Minister Mark Furey says since the company is converting its site in Dartmouth to a storage facility, the taxes it pays to the Halifax Regional Municipality should revert to standard property assessment tax rates. Furey says changes to the province's Oil Refineries and L.N.G. Plants Municipal Taxation Act would ensure [Read more]
Canadian Natural Resources Limited Announces Discovered Presence of Light Oil/Hydrocarbons Offshore Cote d’Ivoire
CALGARY, ALBERTA--(Marketwired - April 17, 2014) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") is pleased to announce that the Saphir-1XB well has encountered an accumulation of light oil in the deepwater frontier exploration play in Block CI-514 offshore Cote d'Ivoire. The well was drilled by a semi-submersible rig in a water depth of 2,300 meters and reached a total depth of 4,655 meters. The well encountered a series of thick sands of [Read more]
QEC: 100% Montney Well to Be Completed After Breakup
CALGARY, ALBERTA--(Marketwired - April 17, 2014) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that drilling operations have been successfully completed on the 16-07-62-5W6M well (the "16-07 Well") in the Kakwa-Resthaven area of west central Alberta. Questerre holds a 100% interest in this well situated approximately six miles south of its producing wells in the area. The 16-07 Well was drilled to a total measured depth of 5053m including a [Read more]
B.C. government reverses its course on environment rules for natural gas, resorts
FORT NELSON, B.C. - British Columbia Environment Minister Mary Polak has done a complete turn around on a decision that would have exempted most of the natural gas produced in the province from mandatory environmental assessment. After quietly passing an order in council Monday without public debate that would have removed about 99 per cent of the natural gas produced in the province from automatic environmental reviews, the government reversed the decision late Wednesday. The announcement [Read more]
Triton partnership gets NEB approval for 25-year LNG export licence
CALGARY - The National Energy Board has approved an application by Triton LNG Limited Partnership for a 25-year licence to export liquefied natural gas from a port in British Columbia. Triton, a partnership announced last year between AltaGas LTd. (TSX:ALA) and Idemitsu, will ship the gas from either Kitimat or Prince Rupert. The NEB says a proposed liquefaction terminal will require further regulatory approval before construction can begin. In their application, the Triton partners [Read more]
Crude oil remains near US$104 a barrel despite huge rise in US stocks
NEW YORK - Oil rose just a penny Wednesday as worries about upheaval in Ukraine offset the dampening effect of a huge increase in U.S. oil supplies.Benchmark West Texas Intermediate crude for May delivery closed at US$103.76 a barrel on the New York Mercantile Exchange. Brent crude for June delivery, a benchmark for international varieties, closed at US$109.36 in London. The May contract expired Tuesday at US$108.74 a barrel.U.S. oil rose to nearly $105 per barrel in morning trading, but fell [Read more]
First Mountain Exploration Ltd. announces filing of 2013 financials and reserve data, provides operational update and announces the appointment of a new CFO
CALGARY, April 16, 2014 /CNW/ - First Mountain Exploration Ltd. ("First Mountain" or the "Company") (TSX Venture: FMX) has filed on SEDAR its audited annual financial statements ("Financial Statements") and management's discussion and analysis ("MD&A") for the year ended December 31, 2013. First Mountain has also filed its reports under section 2.1 of National Instrument 51-101 -Standards of Disclosure for Oil and Gas Activities ("NI 51-101 Filings"). Copies of the Financial Statements, [Read more]