CALGARY, April 17, 2013 /CNW/ - Legacy Oil + Gas Inc. ("Legacy" or the "Company") (TSX:LEG.TO) has closed the acquisition of Villanova Oil Corp. ("Villanova") and the acquisition of light oil assets from a senior producer previously announced on April 3, 2013 (the "Acquisitions"). Through the Acquisitions, Legacy acquired high quality, high netback, light oil assets focused in its southeast Saskatchewan and Turner Valley core areas for total consideration of $108.6 million in cash (subject to [Read more]
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Traverse Energy Announces 2012 Year End Results
CALGARY, ALBERTA--(Marketwired - April 17, 2013) -Traverse Energy Ltd. ("Traverse" or "the Company") (TSX VENTURE:TVL) presents financial and operating results for the year ended December 31, 2012. Three Months Ended December 31 (unaudited ) Year Ended December 31 Highlights 2012 2011 2012 2011 Financial ($ thousands, except per share amounts) Petroleum and natural gas revenue $ 1,588 $ 1,035 $ 4,600 $ 3,731 Royalty [Read more]
TSX, Venture plummet Wednesday, growth concerns punish commodities
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market sold off late morning Wednesday as worries about the pace of global growth raised concerns about demand for commodities and sent prices for energy and metals lower. The S&P/TSX composite index lost 157.47 points or 1.3 per cent to 11,962.45. The Venture was hit 38 points to 921. "This clearly reflects a move to pricing in slower growth, the risk of deflation is back on the table, the effectiveness [Read more]
Crude stocks decrease week over week, beating analyst estimates
U.S. commercial crude oil inventories decreased by 1.3 million barrels from the previous week, beating the expected build of ~1.2 million barrels. Total crude oil stocks of 387.6 million barrels are well above the upper limit of the average range for this time of year. Total commercial petroleum inventories increased by 2.6 million barrels last week. [table] [attr style="width: 25%"]April 12`[attr style="width: 25%"]April 5`[attr style="width: 25%"]Change`[attr style="width: 25%"]% [Read more]
Edmonton based Pipeworx added to U.S. firm’s group of pipeline contractors
IRVING, Texas - Private equity firm Energy Capital Partners is continuing its move into the oilfield services sector with the acquisition of Canadian pipeline contractor Pipeworx Ltd. The deal was done through PLH Group Inc., an EC Partners company, which said Edmonton-based Pipeworx gives it a presence in Western Canada as part of a North American strategy. PLH announced the purchase Wednesday but didn't release financial details. "Canada, and Western Canada in particular [Read more]
Edge Resources Inc. Provides Production Update
CALGARY, ALBERTA--(Marketwired - Apr 2, 2013) - Edge Resources Inc. ("Edge" or the "Company") (TSX VENTURE:EDE)(EDG.L) is pleased to announce that the first well of the Company's spring drilling program in Asset East (announced February 27, 2013), has been on production for the last thirty days and is producing better than expected. The well has averaged approximately 50 barrels of oil per day ("bopd") over the majority of the initial production period but has recently increased to over 60 [Read more]
Novus Energy Inc. reports significant 2012 reserves & production growth
CALGARY, April 17, 2013 /CNW/ - Novus Energy Inc. ("Novus" or the "Company") (TSXV:NVS.V) is pleased to announce a substantial increase to its reserves and production from its successful 2012 capital program. The Company's year-end independent reserve evaluation was prepared by Sproule Associates Limited ("Sproule") effectiveDecember 31, 2012 (the "Sproule Report"). Reserve Highlights Proved reserves at December 31, 2012 increased by 68% to 14.85 million boe, up substantially from 8.84 [Read more]
Shoreline Energy Corporation Announces Flow-Through Private Placement Financing
CALGARY, ALBERTA--(Marketwired - April 17, 2013) - NOT FOR DISTRIBUTION IN THE UNITED STATES Shoreline Energy Corp. (SEQ.TO) ("Shoreline" or the "Company") is pleased to announce that it has entered into an agreement with Casimir Capital Ltd. (the "Agent") to act as agent with respect to a private placement, on a reasonable commercial efforts basis, of up 1,250,000 common shares of the Corporation, issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through [Read more]
Some Alberta municipalities, energy firms want more provincial processing
By John Cotter, The Canadian Press EDMONTON - Alberta could create thousands of new jobs and take in an extra $600 million in annual revenue if more oil and natural gas were processed in the province instead of being shipped raw to other jurisdictions, says a newly released report. The paper by a University of Calgary economist was commissioned by municipalities and energy companies in the Edmonton region known as Alberta's Industrial Heartland Association. The association [Read more]
Enbridge, Tundra to expand Manitoba rail terminal to move more crude to market
CALGARY - Enbridge Inc. and privately-held Tundra Energy Marketing Ltd. are working together on a project to bring growing light oil production from Saskatchewan, Manitoba and North Dakota to market by rail. Under a memorandum of understanding announced Tuesday, each company will own half of a loading terminal near Cromer, Man., which should be able to handle some 60,000 barrels of crude per day early next year. The first 30,000-barrel-per-day phase, under construction, is [Read more]