FREDERICTON - The government of New Brunswick is seeking an Atlantic Accord of its own as it looks offshore to reverse its economic decline. The province's Progressive Conservative government has set its sights on natural resources with the hope that oil and gas can pump some revenues into its coffers. While the government has been focused on developing a shale gas industry, it has recently turned its attention to its largely unexplored offshore fields. Premier David Alward told a business [Read more]
Headlines
National Energy Board responds to gas pipeline rupture north of Rocky Mountain House, AB
CALGARY, Feb. 18, 2014 /CNW/ - The National Energy Board (NEB or Board) is responding to a pipeline rupture on the Nova Gas Transmission Ltd (NGTL) pipeline system approximately 10 kilometres north of Rocky Mountain House, AB owned and operated by TransCanada PipeLines Limited (TransCanada). The release was reported to the NEB early this morning. The size of the release has yet to be determined. There is no immediate safety concern for local residents and precautions are being taken to ensure [Read more]
Blackbird Energy and Pennant Energy Announce Arrangement Agreement and Proposed Business Combination
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 18, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird") and Pennant Energy Inc. (TSX VENTURE:PEN) ("Pennant") are pleased to announce that they have entered into an arrangement agreement dated February 17, 2014 (the "Arrangement Agreement"), whereby Blackbird will acquire all of the outstanding shares of Pennant from the shareholders of Pennant (the "Pennant Shareholders") in exchange for shares of Blackbird on the basis of one Pennant [Read more]
Column: Keystone decision all about politics
It all comes down to politicians’ fear of losing their jobs By Rashid Husain Syed TORONTO, ON/ Troy Media/ - The message finally seems to be getting through in Washington. The release of the State Department Review was the final nail in the coffin for any environmental reason to delay a decision on the Keystone XL pipeline. The only remaining impediment is political – and even that is changing. U.S. President Barack Obama is caught between a rock and a hard place – and he knows [Read more]
Traverse Energy Ltd. Announces Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2014) - Traverse Energy Ltd. ("Traverse") (TSX VENTURE:TVL) is pleased to announce that it has entered into an agreement with Acumen Capital Finance Partners Limited, pursuant to which Traverse has agreed to issue an aggregate of 12,500,000 common shares ("Common Shares") at a price of $0.80 per Common Share for total gross proceeds of approximately $10,000,000 (the "Offering"). In addition, Traverse has granted an over-allotment option to purchase [Read more]
Surge Energy Inc. Announces 59 Percent Increase to 2013 Year-End Reserves
CALGARY, Feb. 18, 2014 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce the results of its 2013 year-end oil and gas reserves evaluation (NI-51-101 compliant), delivering a 59 percent increase over year-end 2012 reserves. This significant increase reflects exceptional organic growth through the drill-bit, advancement of waterflood initiatives, and the completion of four strategic, accretive, elite, light and medium crude oil acquisitions in 2013. The [Read more]
Crew Energy Inc. – Announces 2013 Year End Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2014) - Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") is pleased to announce the results of its independent reserve evaluation for the year ended December 31, 2013 as prepared by Sproule Associates Ltd. ("Sproule"). 2013 HIGHLIGHTS Achieved finding and development ("F&D") costs of $9.05 per boe on proved plus probable reserves, including changes in future development capital, resulting in a recycle ratio of 2.4 [Read more]
Production Casing set on Softrock’s Spirit River Farmout
CALGARY, Feb. 18, 2014 /CNW/ - Nick Taylor, CEO of Softrock Minerals Ltd, is pleased to announce that the Farmor has set production casing on its first well on Softrock (TSX-V SFT) and Greencastle's (TSX-V VGN) jointly owned 640 acre Alberta Crown lease after reaching a total measured depth of 3006 meters with the last 1420 meters being lateral (horizontal) in the Charlie Lake formation. In the next few weeks the farmor expects to frac and complete the well which would earn it a 100% working [Read more]
B.C. Liberals to outline LNG policy plans in a promised balanced budget
VICTORIA - British Columbia Finance Minister Mike de Jong says the budget he will table today contains few spending announcements or tax breaks, but it's balanced and forecasts three years of surpluses — an achievement most other provinces would celebrate. B.C. and Saskatchewan are the only two provinces in Canada to post balanced budgets this year. Last week, federal Finance Minister Jim Flaherty said the Conservative government is on track to balance the books next year — an election [Read more]
Irving Oil Announces Voluntary Conversion of Crude Oil Railcar Fleet
Irving Oil fleet conversion to be completed by April 30 and supplier adherence by year-end SAINT JOHN, NB, Feb. 17, 2014 /CNW/ - Irving Oil announced today that by April 30, 2014, it will complete the conversion of its proprietary fleet of crude oil railcars to the Association of American Railroads' (AAR) recommended specifications for DOT-111 railcars constructed after October 1, 2011. This will require the voluntary removal of older-model railcars from service. The AAR specifications [Read more]