CALGARY, ALBERTA--(Marketwired - Jan. 7, 2014) - Crocotta Energy Inc. ("Crocotta") (TSX:CTA) is pleased to announce that it produced approximately 9,900 boepd for the last two weeks of December 2013 and achieved its exit guidance rate of 10,500 boepd during that period. Production with extended tests but not on-stream included approximately 1,400 boepd of which 400 boepd is at Edson, AB and 1,000 boepd is at Dawson, BC. The Edson production will be on-stream by mid-January but the Dawson well is [Read more]
Headlines
Oil rises as extreme cold temps grip U.S.
KUALA LUMPUR, Malaysia - The price of oil rose Tuesday, with unusually cold weather in the U.S. expected to fuel demand. Benchmark U.S. oil for February delivery was up 27 cents to US$93.70 a barrel at mid-afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 53 cents to settle at $93.43 a barrel on Monday. Brent crude, used to set prices for international varieties of crude, rose 66 cents to $107.39 in London. Crude prices were [Read more]
Lubicon First Nation appeals drilling injunction
CALGARY - A First Nation is appealing a court injunction against a blockade of an energy company's drilling site in northern Alberta.The Lubicon Lake Nation says the injunction granted to PennWest Petroleum Ltd. (TSX:PWT) last month gives the company unfettered access to an oil hydraulic fracturing site in the heart of its traditional territory.In its appeal, the Lubicon Lake Nation says it will raise constitutional issues about aboriginal rights that it says the court failed to consider when [Read more]
Whitecap Resources Inc. closes Viking light oil acquisition and provides Q1 2014 outlook
CALGARY, Jan. 6, 2014 /CNW/ - Whitecap Resources Inc. ("Whitecap") (TSX: WCP) is pleased to announce that Whitecap has completed the previously announced acquisition of a private company ("PrivateCo") pursuant to a plan of arrangement (the "Arrangement") under the provisions of the Business Corporations Act (Alberta). Whitecap has acquired all of the issued and outstanding common shares of PrivateCo through the issuance of 27,535,867 Whitecap common shares and the assumption of PrivateCo's [Read more]
Lone Pine Resources Announces Creditor Approval of Restructuring Plan
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") today announced that affected creditors of the Company and its subsidiaries have approved, by the required majorities at meetings held today, Lone Pine's previously-announced plan of compromise and arrangement (as amended, the "Plan") under the Companies' Creditors Arrangement Act ("CCAA"). The Plan was approved at the respective creditors' meeting of each company by over 95% of the number of [Read more]
Harper: Obama ‘punted’ Keystone XL decision, confident pipeline will be built
VANCOUVER - Prime Minister Stephen Harper says U.S. President Barack Obama has "punted" a decision on the controversial Keystone XL oil pipeline, but he's still confident the long-delayed $5.4 billion project will eventually be built. Harper made his remarks during a question-and-answer session with Vancouver Board of Trade CEO Iain Black. When Black launched into one question by saying Obama had rejected the pipeline, Harper interjected. "No, he's punted," the prime minister said of [Read more]
Raging River Exploration Inc. Appoints New Director
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to announce that Gary Bugeaud has been appointed to its Board of Directors. Mr. Bugeaud recently retired as Managing Partner of the Calgary law firm Burnet, Duckworth & Palmer LLP. Mr. Bugeaud has significant securities, mergers and acquisitions and corporate governance experience. Mr. Bugeaud is also a trustee of the Alberta Cancer Foundation. [Read more]
Arsenal Energy Inc. Releases 2014 Budget
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI) (PINKSHEETS:AEYIF) is pleased to release this operations update and its 2014 capital budget. During the fourth quarter, pricing differentials for Arsenal's mix of production widened substantially. In response, Arsenal postponed drilling three wells in south-east Alberta and various other minor capital expenditures. Capex for 2013 is now estimated at $38 million compared to [Read more]
Hemisphere Energy Commences Winter Drilling Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 6, 2014) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce that it has commenced operations for its winter drilling program with three development wells planned in the Atlee Buffalo and Jenner areas of southeast Alberta. Hemisphere's first well of the winter drilling program is underway in the newly acquired Atlee Buffalo property. The horizontal development well is targeting the oil-bearing sandstones of the [Read more]
Tourmaline Oil Corp. Achieves Record 2013 Exit Production Volumes
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2014) - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to report that estimated daily production volumes reached a record of 111,200 boepd (564 mmcfpd (94,000 boepd) natural gas and 17,200 bpd of oil, condensate and ngls) during the second half of December following the start-up of the Wild River and Banshee gas plant expansions. The Company has an estimated 18,500 boepd of additional production, from wells already drilled [Read more]