By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market sold off Friday as concerns about the strength of the world's biggest economy raised demand worries and helped send oil and metal prices tumbling. The S&P/TSX composite index dropped 143.79 points to 12,337.59. Falling commodities helped push the Canadian dollar down 0.3 of a cent to 98.64 cents US. U.S. indexes recouped most of earlier losses resulting from earnings disappointments from banks and a [Read more]
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Rig count continues to fall into spring season
[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`83`73`156 Last Week`117`89`206 Last Year`88`76`164 Week over Week Change`-34`-16`-50 Year over Year Change`-5`-3`-8[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read more]
US crude futures fall 2 per cent to below US$92 a barrel on weak economic data
NEW YORK, N.Y. – Signs that the global economy isn’t strong enough to quickly burn through the world’s ample supplies of oil and gasoline sank crude oil prices for a second straight day. Weak U.S. economic reports Friday followed on the heels of reduced forecasts for oil demand. Oil dropped two per cent. U.S. crude futures fell $2.22, or 2.4 per cent, to $91.29 barrel in New York. Brent crude, which is used to price oil used by many U.S. refiners to make gasoline, fell $1.34 to [Read more]
Northern Gateway panel releases conditions for pipeline approval
VANCOUVER - The panel weighing the future of the proposed Northern Gateway project released a long list of conditions Friday that the company would need to meet should the project receive approval, including almost $1 billion in liability coverage in the event of a catastrophic oil spill. The joint federal review panel stressed that the release of draft conditions does not mean a decision has been made. "The panel has not made any decisions on whether or not to recommend approval [Read more]
MARKETING MACHINE: Redford says frequent trips to Washington helpful, will go back next possible opportunity
CALGARY - Alberta Premier Alison Redford says she's not worried that her frequent trips to Washington, D-C to promote the Keystone X-L oil pipeline will result in negative overexposure in the U-S. Redford has visited Washington four times since she became premier 18 months ago and has been the object of protesters opposed to the multi-billion dollar pipeline. She says if you're one of those people where your story is heard too much and no one wants to hear from you anymore, then [Read more]
Arcan is Pleased to Announce 2012 Year End Reserves and Financial Results, Cancelled Stock Options, and Provide an Operations Update
CALGARY, ALBERTA--(Marketwired - April 12, 2013) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Corporation") announced increases in both producing and proven reserves in the 2012 year-end report as well as growth in all categories over the mid-year update, recognizing initial results of Arcan's waterflood activities. Arcan achieved several key operational and financial objectives in 2012 as the Corporation continued to transition from a junior exploration company into a sustainable [Read more]
Strategic Oil & Gas Ltd. Announces Year-End 2012 Financial and Operating Results and Update on First Quarter 2013 Drilling Program
CALGARY, ALBERTA--(Marketwired - Apr 11, 2013) - Strategic Oil & Gas Ltd. ("Strategic" or the "Corporation") (TSX VENTURE:SOG) is pleased to report financial and operating results for the fourth quarter and year ended December 31, 2012. The Corporation achieved record production and funds from operations in 2012 as a result of strong drilling results, and continues to establish itself as an efficient light oil producer in northern Canada. Detailed results are presented in Strategic's [Read more]
Natural gas withdrawal better than expectations
Working gas in storage was 1,673 Bcf as of Friday, March 29, 2013, according to EIA estimates. This represents a net change of -14 Bcf greater analyst estimates of ~-3 Bcf. Stocks were 804 Bcf less than last year at this time and 37 Bcf below the 5-year average of 1,739 Bcf. [table] [attr style="width: 25%"]`[attr style="width: 25%"]April 5`[attr style="width: 25%"]March 29`[attr style="width: [Read more]
Hemisphere Energy Announces Substantial Growth in 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 11, 2013) - Hemisphere Energy Corporation (TSX VENTURE:HME) is pleased to announce its financial and operating results for the ten months ended December 31, 2012. As a result of changing the fiscal year-end from February 28 to December 31, Hemisphere's current reporting period is for the ten months ended December 31, 2012 with comparatives to the twelve months ended February 29, 2012. All amounts are expressed in Canadian dollars. Highlights [Read more]
Aroway Energy Inc. Announces West Hazel Property Reserves
CALGARY, ALBERTA--(Marketwired - Apr 11, 2013) - AROWAY ENERGY INC. (TSX VENTURE:ARW)(www.arowayenergy.com) (the "Company") is pleased to announce the results of its independent reserves evaluation in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") on its newly acquired 100% owned and operated West Hazel property in Western Saskatchewan as at December 1, 2012. The independent reserves evaluation is focused on Aroway's 100% owned and [Read more]