By The Associated Press NEW YORK, N.Y. - Oil closed above $90 a barrel for the first time in two months Thursday as it tracked an upward move in U.S. stock markets. Benchmark crude for February delivery ended the day at $90.13 per barrel, up 15 cents, on the New York Mercantile Exchange. Brent crude, used to price international varieties of oil, dropped 16 cents to finish at $110.20 per barrel in London. Meanwhile, gasoline prices continued to drop, while natural gas prices [Read more]
Headlines
Aroway Energy Inc. Prepares to Complete First Oil Well at Kirkpatrick Lake
Aroway Energy Inc. [stock arw.v] is pleased to announce it has drilled, cased and logged its first well on its 100% owned and operated Kirkpatrick Lake property in Central, Alberta. The well was drilled to a total depth of 1,132 meters targeting the Ellerslie formation. The rig will soon move on to the Company''s second exploration location also targeting oil in the Ellerslie formation with drilling operations expected to begin in the next few days. Drilling is expected to be completed before [Read more]
Anderson Provides Operations Update
Anderson Energy Ltd. [stock axl.to] provides the following operations update. EDMONTON SANDS FARM-IN AGREEMENT Anderson continues to focus on its light oil development prospects. The Company has reached an agreement in principle to terminate its commitment to drill 74 Edmonton Sands natural gas wells. In consideration for the termination of the commitment, the Company will convey to the farmor a 25% carried interest in four Cardium horizontal light oil wells that have been drilled or will [Read more]
Weekly Natural Gas Storage to December 14
December 7: 3,806 Bcf December 14: 3,724 Bcf Change: -82 Bcf [table] [attr style="width: 25%"]`[attr style="width: 25%"]December 14`[attr style="width: 25%"]December 7`[attr style="width: 25%"]Change East`1,925`1,974`-49 West`538`547`-9 Producing`1,261`1,285`-24 Total`3,724`3,806`-82 [/table] Source: EIA [Read more]
Petroleum Product Inventory Update to December 14
[table] [attr style="width: 24%"]Product`[attr style="width: 24%"]December 14`[attr style="width: 24%"]December 7`[attr style="width: 14%"]Change`[attr style="width: 14%"]% Change Crude Oil`371,645`372,609`-964`-0.3% Gasoline`219,322`217,115`+2,207`+1.0% Distillate`116,970`118,055`-1,085`-0.9% Propane`69,223`71,183`-1,960`-2.8% Jet Fuel`39,305`39,879`-574`-1.4% Unfinished Oils`82,536`80,617`+1,919`+2.4% Residual Fuel Oil`37,073`37,469`-396`-1.1% [attr [Read more]
BOOM! Pace, AvenEx and Charger to Combine and Form Intermediate Dividend Paying Corporation
Pace Oil & Gas Ltd., AvenEx Energy Corp. and Charger Energy Corp. announce that they have entered into an agreement providing for the combination of Pace, AvenEx and Charger to form a dividend paying corporation to be named "Spyglass Resources Corp." ("Spyglass"). Spyglass will have a balanced commodity profile and sustainable business model underpinned by 18,000 boe/d of stable, low decline oil and gas production and will be led by an experienced management team. The merger will be [Read more]
DeeThree Reaches 2012 Year End Exit Rate and Announces Farm-in and Drilling Updates in Brazeau
DeeThree Exploration Ltd. [stock dtx.to] is pleased to announce it has reached its targeted 2012 exit production rate of 6,000 boe/d based on field estimates. In addition, DeeThree has recently drilled two wells that are expected to be producing by the end of 2012 or early 2013 at significant rates. DeeThree is pleased to report it has entered into a farm-in agreement with a senior oil and gas producer pursuant to which it may earn a 100% working interest in up to 34 additional sections of [Read more]
Enerplus Closes Purchase of Bakken Oil Assets in Montana and Sale of Manitoba Assets
Enerplus Corporation [stock erf.to] is pleased to announce the closing of the previously disclosed acquisition of additional working interests in the Sleeping Giant area in the Elm Coulee field in Richland County, Montana for US$119 million including estimated closing adjustments. This acquisition includes approximately 6.2 million BOE of proved plus probable reserves, incremental daily production of approximately 1,550 BOE/day, and consolidates our working interest to approximately 90% in [Read more]
Penn West Exploration Announces the Completion of Non-Core Asset Divestments
PENN WEST PETROLEUM LTD. [stock pwt.to] is pleased to announce that it has closed its previously announced divestment of non-core assets. In June of 2012, Penn West announced its intention to divest of $1.0 to $1.5 billion of non-core assets. Effective today, the last of a number of asset dispositions related to this plan closed for total gross proceeds of approximately $1.3 billion. In addition to these dispositions, we also recently closed a series of minor dispositions. Total proceeds from [Read more]
Marquee Energy Announces Closing of Private Placement
Marquee Energy Ltd. [stock MQL.V] announced today that the Company has closed a non-brokered private placement of 1,963,238 common shares of the Company at a price of $1.05 per common share, issued on a flow-through basis pursuant to the Income Tax Act (Canada) for proceeds of $2,061,400. The Flow-Through shares are subject to a restricted period of four months and a day, expiring on April 20th, 2013. Certain registered dealers received a finder's fee equal to 6% of the gross proceeds from the [Read more]