RMP Energy Inc. is pleased to announce that the Company's Board of Directors has approved an exploration and development expenditures program of $85 million for 2013 (the "2013 Capital Budget"). The 2013 Capital Budget is expected to be self-financed by funds from operations (refer to forecasts below). RMP possesses the financial flexibility for additional funding through the Company''s bank credit facility, which was recently expanded to $110 million, for any capital program expansions in [Read more]
Headlines
Longview Announces 2013 Guidance
Longview Oil Corp. is pleased to announce that the Board of Directors has approved operational guidance and a capital budget of $36 million for the year ending December 31, 2013 . Consistent with our business strategy, we have developed a sustainable and balanced 2013 budget that will preserve a strong balance sheet while utilizing funds from operations to maintain our current dividend policy and fund substantially all of our capital expenditures while maintaining production at 2012 levels. [Read more]
Angle Announces Divestiture of Natural Gas-Weighted Edson Assets for $74 Million
Angle Energy Inc. is pleased to announce that it has signed a definitive purchase and sale agreement (the "Agreement") for the divestiture of certain non-core natural gas-weighted assets in the Edson area of Alberta (the "Disposition Assets") for gross proceeds of $74 million, subject to certain closing adjustments and costs (the "Transaction"). The Disposition Assets included in the Transaction represent all of Angle's interests below the base of the Cardium and above the base of the [Read more]
Traverse Closes Private Placement Financing
Traverse Energy Ltd. is pleased to announce that it has successfully closed its previously announced non-brokered private placement (the "Private Placement") of common shares of the Corporation ("Shares") issued on a "flow through" basis within the meaning of the Income Tax Act (Canada). The Corporation issued 2,800,000 Shares for total gross proceeds of $1,820,000. The Shares issued are subject to a hold period under applicable securities laws until April 13, 2013. The Corporation intends [Read more]
Petronas closes acquisition of Progress
Progress Energy Resources Corp. ("Progress") is pleased to announce the completion of the arrangement with PETRONAS Carigali Canada Ltd. ("PETRONAS Canada"), pursuant to which PETRONAS Canada acquired all of Progress' outstanding common shares at a price of $22.00 in cash for each common share, and Progress acquired the outstanding 5.25% Convertible Unsecured Subordinated Debentures of Progress due October 31, 2014 (the "2014 Debentures") and the 5.75% Series B Convertible Unsecured Subordinated [Read more]
Bellatrix exceeds exit guidance, averaging 19,600 boepd during November 2012, announces an increase in its credit facilities and layers in additional commodity fixed price contracts for 2013
Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") is pleased to announce that average production in the month of November 2012 (based on field estimates) averaged 19,600 barrels of oil equivalent per day (boe/d) and that it has completed its mid-year review of its 2012 credit facilities and provides an update of its recent commodity price risk management activities. Bellatrix continues to expect it will meet its previously announced 2012 calendar year guidance of average daily [Read more]
Aroway Begins Drilling Oil Wells at Kirkpatrick Lake
AROWAY ENERGY INC. (www.arowayenergy.com) is pleased to announce it has commenced drilling on its 100% owned and operated Kirkpatrick Lake property in Central, Alberta. Aroway will be drilling two (2) Ellerslie oil prospects which have been selected from 3D seismic data interpretation, and are in a very prospective oil fairway with an offsetting pool having produced in excess of 1.39 million barrels of light 38 degree API oil. Both wells will be drilled to an approximate depth of 1,130 meters [Read more]
DONE DEAL. Bonterra Enters Into Definitive Agreement to Combine With Spartan
Bonterra Energy Corp. (TSX:BNE) ("Bonterra") and Spartan Oil Corp. (TSX:STO) ("Spartan") are pleased to announce that they have entered into an arrangement agreement (the "Bonterra Arrangement Agreement") whereby Bonterra has agreed to acquire all of the issued and outstanding common shares (the "Spartan Shares") of Spartan (the "Bonterra Arrangement"). Pursuant to the terms of the Bonterra Arrangement Agreement, holders ("Spartan Shareholders") of Spartan Shares will receive 0.1169 (the [Read more]
Delphi Energy Increases Bigstone Montney Exposure by 60 Percent
Delphi Energy Corp. is pleased to provide the following update. Bigstone Farm-in Delphi has entered into a farm-in agreement to earn up to a 75 percent working interest in 35 sections of Montney and Nordegg petroleum and natural gas ("PNG") rights in its core area of Bigstone, Alberta. The farm-in contemplates Delphi drilling one vertical test well at Bigstone South, with an option to drill and complete a horizontal well in the Montney formation earning a 75 percent working interest in [Read more]
Cenovus oil production anticipated to grow 14% in 2013
Cenovus Energy Inc. plans to make a significant investment in its oil assets next year as it continues to focus on growing production. The company expects to invest between $3.2 billion and $3.6 billion in 2013, building on its successful 2012 capital program. Steam generators at Cenovus's Christina Lake operation in northern Alberta “We’re in an excellent financial position with a strong balance sheet that gives us the flexibility to invest for future growth and maintain our focus on [Read more]