CALGARY, ALBERTA--(Marketwire - Feb 14, 2013) - Encana Corporation (ECA.TO) (ECA) finished the year ahead of 2012 guidance as the company reported annual cash flow of $3.5 billion, or $4.80 per share, and $997 million in operating earnings, or $1.35 per share. In the fourth quarter of 2012 the company generated cash flow of $809 million, or $1.10 per share, and operating earnings of $296 million, or $0.40 per share. In addition, Encana ended the year with $3.2 billion in cash and cash [Read more]
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TriOil Board and Special Committee appoint financial advisors
CALGARY, Feb. 14, 2013 /CNW/ - TriOil Resources Ltd. ("TriOil" or the "Company" - TSXV:TOL) announces that its board of directors (the "Board") has retained GMP Securities L.P. as lead financial advisor to the Board and Dundee Securities Ltd. as financial advisor to the Board to assist it in the strategic review of the Company's business plan and its consideration of additional means to enhance shareholder value. In addition, TriOil's committee of independent directors (the "Special [Read more]
Penn West Exploration Announces its Financial Results for the Fourth Quarter Ended December 31, 2012 and 2012 Year-end Reserve Results
CALGARY, Feb. 14, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST") is pleased to announce its results for the fourth quarter ended December 31, 2012 and year-end reserve results. All figures are in Canadian dollars unless otherwise stated. We are committed to maximizing the efficiency of our capital programs and the reliability of our production base while continuing to improve the company's balance sheet. We have actively changed the balance of our asset [Read more]
Cenovus total proved reserves up 12% to 2.2 billion BOE
Oil sands production increases 35% in 2012 Proved bitumen reserves at the end of 2012 were more than 1.7 billion barrels (bbls), up 18% from 2011. Economic bitumen best estimate contingent resources at year end were 9.6 billion bbls, a 17% increase over 2011. Combined oil sands production at Foster Creek and Christina Lake averaged nearly 90,000 barrels per day (bbls/d) net in 2012, up 35% from 2011. Average production at Christina Lake nearly tripled in 2012 to almost 32,000 bbls/d [Read more]
Talisman says Kurdistan oil discovery ‘giant,’ may seek joint-venture partner
By Lauren Krugel, The Canadian Press CALGARY - Talisman Energy Inc. said Wednesday it has no intention of ditching its potentially "giant" oil discovery in the Iraqi region of Kurdistan as it pares other high-risk exploration projects from its portfolio. Some observers have pressed Talisman (TSX:TLM.TO - News) to shed Kurdistan, but CEO Hal Kvisle said the company will take its time to explore its options, one of which could be bringing on new partners to help develop the [Read more]
Connacher Reports Year-End 2012 Reserves
CALGARY , Feb. 13, 2013 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX) reported today that as of December 31, 2012 its estimated proved ("1P") bitumen reserves, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), independent qualified reserves evaluators, totaled approximately 214 million barrels. 1P bitumen reserve volumes have increased by 22 per cent, over year-end 2011 volumes, after production of 4.3 million barrels during the year, due largely to the approval of the Great Divide [Read more]
Peyto Adds 30,000 boe/d in 2012 Replacing 527% of Production
CALGARY, ALBERTA--(Marketwire - Feb 13, 2013) - Peyto Exploration & Development Corp. (PEY.TO) ("Peyto" or the "Company") is pleased to present the results and analysis of the independent reserve report effective December 31, 2012. The evaluation encompassed 100% of Peyto''s reserve assets and was conducted by InSite Petroleum Consultants ("InSite"). Peyto''s capital program for 2012 was the largest in the Company''s 14 year history with $452 million spent on developing Peyto''s assets [Read more]
BlackPearl Announces 2012 Year-End Reserves and Resource Estimates and Provides Operations Update
CALGARY, ALBERTA--(Marketwire - Feb 13, 2013) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (PXX.TO)(OMX:PXXS) is pleased to announce the results of its 2012 year-end oil and gas reserves evaluation, contingent resource evaluation and to provide an operations update on the Company''s current activities. Highlights include: 496% increase in total proved and probable reserves to 213 million barrels of oil equivalent; The increase is primarily attributable to the initial [Read more]
Birchcliff Energy Ltd. Announces Material Production Gains, Unaudited 2012 Financial Results, Significant 2012 Reserves Additions and 2012 Resource Assessment
CALGARY, ALBERTA--(Marketwire - Feb. 13, 2013) - Birchcliff Energy Ltd. ("Birchcliff") (BIR.TO) is pleased to announce its 2012 fourth quarter results, 2012 unaudited financial and operational results, highlights from its 2012 independent reserves evaluation and 2012 independent Montney/Doig natural gas resource assessment, its 2013 capital budget and operational update. All financial amounts referred to in this press release are management's best estimates, which have not yet been [Read more]
Weekly U.S. crude inventories up last week
[table] [attr style="width: 25%"]February 8`[attr style="width: 25%"]February 1`[attr style="width: 25%"]Change`[attr style="width: 25%"]% Change 372,245`371,685`+560`+0.2% [/table] Source: EIA [Read more]