By The Canadian Press CALGARY - Some Petro-Canada stations are running out of gasoline because of repairs taking place at a refinery in Edmonton. Gasoline-producing units at the Edmonton refinery were supposed to keep running during a period of planned maintenance work, which began about a month ago. But during routine inspections, Petro-Canada discovered that repairs needed to be done and the gasoline units were taken out of service temporarily. "So as a result, we have had to stop [Read more]
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Bonavista Energy Corporation Announces 2013 First Quarter Results
CALGARY, ALBERTA--(Marketwired - May 2, 2013) -Bonavista Energy Corporation ("Bonavista") (BNP.TO) is pleased to report to shareholders its condensed consolidated interim financial and operating results for the three months ended March 31, 2013. The unaudited financial statements and notes, as well as management's discussion and analysis, are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at http://www.sedar.com and on Bonavista's website [Read more]
Oil and gas drillers make technological leaps, while renewable energy industry struggles
By Jonathan Fahey, The Associated Press NEW YORK - Technology created an energy revolution over the past decade — just not the one we expected. By now, cars were supposed to be running on fuel made from plant waste or algae — or powered by hydrogen or cheap batteries that burned nothing at all. Electricity would be generated with solar panels and wind turbines. When the sun didn't shine or the wind didn't blow, power would flow out of batteries the size of tractor-trailers. Fossil [Read more]
Nat gas storage builds well above expectations, futures prices sink
Working gas in storage was 1,734 Bcf as of Friday, April 26, according to EIA estimates. This represents a net change of +44 Bcf;well above estimates of ~+32 Bcf. As a result, U.S. nat gas futures on NYMEX sank more than 5% Thursday. [table] [attr style="width: 25%"]`[attr style="width: 25%"]April 26`[attr style="width: 25%"]April 19`[attr style="width: 25%"]Change East`704`686`+18 West`339`334`+5 Producing`734`714`+20 Total`1,777`1,734`+43 [/table] Source: EIA [Read more]
Shell CEO Voser to retire in 2014; company first quarter profit dips on lower oil prices
BY Toby Sterling, The Associated Press AMSTERDAM - Royal Dutch Shell PLC said Monday Chief Executive Peter Voser will step down in early 2014, and the company reported lower first-quarter profits in the wake of a decline in oil prices. The departure comes as a surprise, as Voser is just 54 years old and is well-regarded within the industry. Shell broke with a longstanding tradition of alternating British and Dutch chief executives with the July 2009 appointment of Voser, a Swiss [Read more]
TransCanada to Develop the Heartland Pipeline and Terminal Facilities in Central Alberta
CALGARY, ALBERTA--(Marketwired - May 2, 2013) -TransCanada Corporation (TRP.TO) (TRP) (TransCanada) announced today that it has reached binding long-term shipping agreements to build, own and operate the proposed Alberta-based Heartland Pipeline and TC Terminals projects. The proposed projects are being developed to support growing crude oil production in Alberta and will include the 200-kilometre (125-mile) pipeline connecting the Edmonton region to facilities in Hardisty, Alberta and a [Read more]
Penn West Exploration announces its financial results for the first quarter ended March 31, 2013 and the appointment of a new Chairman
CALGARY, May 2, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST") is pleased to announce its results for the first quarter ended March 31, 2013. All figures are in Canadian dollars unless otherwise stated. BOARD OF DIRECTORS The Board of Directors of Penn West (the "Board") has commenced a renewal process. EffectiveMay 1, 2013, Mr. Jack Schanck, a Director of Penn West since 2008, assumed the position of Chairman of the Board. Mr. Schanck has over 37 years of direct [Read more]
PetroBakken Announces April Production of Approximately 48,000 Boepd and First Quarter Funds Flow from Operations of $177 Million
CALGARY, ALBERTA--(Marketwired - May 1, 2013) -PetroBakken Energy Ltd. (the "Company" or "PetroBakken") (PBN.TO) is pleased to provide an operations update and to announce our first quarter financial and operating results. FIRST QUARTER FINANCIAL & OPERATING HIGHLIGHTS First quarter production averaged 49,078 barrels of oil equivalent per day ("boepd") (82% light oil and liquids), a 4% increase over the fourth quarter of 2012. Our operating netback for the first quarter was [Read more]
Pengrowth Reaffirms Full Year Guidance and Reports Solid First Quarter Results With Continued Progress on Differentiated Strategy
CALGARY, ALBERTA--(Marketwired - May 1, 2013) - Pengrowth Energy Corporation (PGF.TO) (PGH) today announced financial and operating results for the first quarter of 2013 that highlighted continued progress in its drive to become a long term sustainable, dividend paying, energy producer. "We are delighted with the results of our Cardium winter drilling program, the positive investor support for our niche thermal strategy and its associated sustainable financial model and the Lindbergh pilot, [Read more]
ARC Resources Ltd. reports first quarter 2013 results
CALGARY , May 1, 2013 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its first quarter 2013 operating and financial results. First quarter production was 95,472 boe per day and funds from operations were $202.4 million ( $0.65 per share). ARC's Condensed Interim Consolidated Financial Statements and Notes, as well as ARC's Management's Discussion and Analysis ("MD&A") for three months ended March 31, 2013 and 2012, are available on ARC's website [Read more]