WASHINGTON - A new senior adviser to President Barack Obama will recuse himself from deliberations on the Keystone XL oil pipeline, the White House said Wednesday. John Podesta, a former chief of staff under President Bill Clinton, has spoken out against the pipeline, which would carry oil derived from tar sands in western Canada to refineries in Texas. Podesta founded the Center for American Progress, a liberal think-tank that opposes the pipeline. Podesta's hiring cheered environmental [Read more]
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Bellatrix Exploration Ltd. and Angle Energy Inc. announce completion of arrangement
CALGARY, Dec. 11, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) and Angle Energy Inc. ("Angle") (TSX: NGL) are pleased to announce that they have closed the previously announced plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Bellatrix acquired all of the issued and outstanding common shares of Angle (the "Angle Shares") for consideration consisting of $69.7 million in cash and approximately 30.2 million Bellatrix common [Read more]
Shoreline Provides Dividend Update
CALGARY, ALBERTA--(Marketwired - Dec. 11, 2013) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") announces that the Board of Directors intends to delay declaration of any dividends to the time of closing of the previously announced joint venture between the Company and Acceleration Resources. The joint venture is currently expected to close on or before January 31, 2014. The Company remains committed to a sustainable dividend policy and any dividends declared will be declared in [Read more]
Southern Pacific Announces Review of Strategic Alternatives to Enhance Shareholder Value and Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Dec. 11, 2013) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) today announces that its Board of Directors has initiated a process to identify, examine and consider strategic and financial alternatives available to the Company with the ultimate view of enhancing shareholder value. Strategic and financial alternatives may include, but are not limited to, the sale of the Company, merger or other business combination, [Read more]
Devon Canada lists 97,000 boe/d for sale
After announcing a couple of weeks ago about its intent to sell nearly half its Canadian assets, Devon Energy seemed to take its first step to officially place the producing properties on the market. On Scotia Waterous's website, Devon Canada is listed with having a whopping 97,000 boe/d up for sale. Here's the information from ScotiaWaterous.com: Devon Canada Corporation has initiated a process to divest of its non-core conventional oil and gas assets in Western Canada and has retained [Read more]
Consistent Execution Delivers Substantial Growth for Husky Energy
CALGARY, ALBERTA--(Marketwired - Dec. 11, 2013) - Husky Energy (TSX:HSE) is on track to achieve substantial production growth in 2014, supported by consistent performance from all segments of the business and commencement of production from the landmark Liwan Gas Project. Liwan is the cornerstone of Husky's Asia Pacific growth pillar and the first of several major projects across the Company to come on stream. Husky's latest heavy oil thermal development, the 3,500 barrels per day [Read more]
Encana to Grow Liquids Production by 30 Percent and Conduct IPO of Clearwater Royalty Business in 2014
CALGARY, ALBERTA--(Marketwired - Dec. 11, 2013) - Encana Corporation (TSX:ECA)(NYSE:ECA) - With its sight set on sustainably growing shareholder value, Encana Corporation today announced a disciplined capital program focused on generating profitable growth through investment in five core liquids-rich resource plays. "In November, we announced a clear vision and strategy to lay the foundation for Encana's future," says Doug Suttles, Encana President & CEO. "Going forward [Read more]
Alexander Energy Ltd. Announces Closing of Recapitalization and Appointment of New Management Team
CALGARY, ALBERTA--(Marketwired - Dec. 10, 2013) - Alexander Energy Ltd. (TSX VENTURE:ALX) - Alexander Energy Ltd. ("Alexander" or the "Corporation") is pleased to announce that it has received the written consent of a majority of its shareholders to: (i) its previously announced non-brokered private placement of up to an aggregate of approximately $26.5 million (the "Private Placement"); and (ii) the appointment of a new management team and board of directors (collectively, [Read more]
Painted Pony Announces Its 2014 Capital Expenditure Program and Provides a Production Update
CALGARY, ALBERTA--(Marketwired - Dec. 10, 2013) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX:PPY) is pleased to announce its 2014 capital budget and provide a production update. Highlights include: an approved 2014 capital expenditure budget of $149 million; 92% of the budget will be directed towards the continued development of the Company's Montney natural gas project in northeast British Columbia, with the remainder to be used for further [Read more]
Cardinal Energy Ltd. Announces Pricing of Initial Public Offering
CALGARY, ALBERTA--(Marketwired - Dec. 10, 2013) - NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW. Cardinal Energy Ltd. ("Cardinal") is pleased to announce that it has entered into an underwriting agreement for its initial public offering of 21,428,571 common shares at a price of $10.50 per share. The offering will generate gross proceeds of $225 million. Closing is scheduled for [Read more]