Whitecap Resources Inc. ("Whitecap" or the "Company") is pleased to announce the results from its 2012 year-end oil and gas reserves evaluation and provide shareholders with an operational update. 2012 YEAR-END RESERVES Whitecap's year-end 2012 reserves were evaluated by independent reserves evaluator McDaniel & Associates Consultants Ltd. ("McDaniels"). The evaluation of all of Whitecap's oil and gas properties was done in accordance with the definitions, standards and procedures [Read more]
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Traverse Energy Ltd. Announces 2013 Capital Budget & Program
Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) is pleased to announce that the Board of Directors has approved an exploration and development program of $12.6 million for 2013. The Corporation plans an active drilling program for 2013 with 10 wells planned on existing properties. Drilling and related production expenditures comprise 75% of the budget. The budget is to be financed by existing working capital, cash flow and new equity issues or debt where appropriate. The 2013 [Read more]
New Brunswick Premier: SEND THE PIPELINES EAST!
FREDERICTON - New Brunswick Premier David Alward heads to Alberta on Sunday for three days of meetings that he hopes will advance a proposal for a west-east oil pipeline. Alward has meetings scheduled with Alberta Premier Alison Redford as well as officials in the oil and pipeline industries. He says a pipeline that could deliver western crude to the Irving refinery in Saint John, N.B., would be good for the entire country, and a boost to his province's faltering [Read more]
US crude oil supplies grew last week, gasoline inventories fell
NEW YORK - The United States' crude oil supplies rose last week, the government said Wednesday. Crude supplies grew by 5.9 million barrels, or 1.6 per cent, to 369.1 million barrels, which is 8.9 per cent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report. Analysts expected an increase of 2.5 million barrels for the week ended Jan. 25, according to Platts, the energy information arm of McGraw-Hill Cos. Gasoline supplies [Read more]
Renegade Petroleum Ltd. Announces Adoption of Long Term Incentive Plan and Grant of Incentive Awards
Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) announces that it has adopted a Restricted and Performance Award Incentive Plan (the "Plan"). The Company adopted the Plan following a review by the board of directors of the Company (the "Board") and the corporate governance, compensation and nominating committee of the Board (the "Compensation Committee"), with the assistance and guidance of its financial advisors and a third party compensation consultant, of the [Read more]
Donnycreek Announces Participation in New Acreage & Well; Provides Operations Update
Donnycreek Energy Inc. ("Donnycreek" or the "Company") (TSX VENTURE:DCK) reports that it will be participating in the drilling of a new non-operated Montney well, immediately adjacent to Donnycreek's original 16.75 section 50% working interest Kakwa land block. The operator of the well has advised that spud is expected mid-February 2013. Donnycreek will participate as to a 23.75% working interest (subject to a 5% GORR) and after drilling this new exploratory well, Donnycreek will earn a similar [Read more]
Nenshi on Keystone PR: The ball has been dropped
Calgary's mayor says both government and the oil industry have dropped the ball when it comes to promoting TransCanada Corp.'s proposed Keystone XL pipeline. Naheed Nenshi recently returned from a world economic forum in Switzerland. He says discussions about the project made it clear to him that Canada has not done a good enough job of winning over global leaders. Nenshi says he has become an advocate of the pipeline because Calgary-based TransCanada's (TSX:TRP) project is [Read more]
AltaGas Ltd. and Idemitsu Kosan Co., Ltd. Form Partnership to Pursue Opportunities to Export Energy From Canada
AltaGas Ltd. ("AltaGas") (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U) and Idemitsu Kosan Co.,Ltd. ("Idemitsu") (Tokyo Stock Exchange: 5019) today announced that the companies have signed an agreement to form the AltaGas Idemitsu Joint Venture Limited Partnership ("Partnership"). The Partnership plans to pursue opportunities involving exports of liquefied petroleum gas ("LPG") and liquefied natural gas ("LNG") from Canada to Asia. AltaGas and Idemitsu will each own a 50 percent interest in the [Read more]
Oil jumps above $97 as US home prices rise and stocks chase records
NEW YORK, N.Y. - The price of oil climbed above US$97 a barrel as home prices in the U.S. accelerated and stock markets resumed their rise toward record levels. Benchmark West Texas Intermediate crude for March delivery rose US$1, or 1 per cent, to US$97.44 a barrel around midday on the New York Mercantile Exchange. Oil hasn't closed above US$97 in New York since Sept. 14. Oil is now up more than US$5 a barrel this year. Signs of improvement in the global economy are driving [Read more]
Oil shipments a big opportunity for Canadian Pacific as pipelines squeezed
CALGARY - Oil shipments present the single biggest growth opportunity for Canadian Pacific Railway Ltd. as a pipeline squeeze forces energy firms to get their product to market by other means, the company's chief marketing officer said Tuesday. If volumes keep up at their current rate, the railway (TSX:CP) is poised to ship more than 70,000 carloads of crude per year, Jane O'Hagan told analysts on a conference call to discuss Canadian Pacific's fourth-quarter results. During the [Read more]