NEW YORK - The price of oil shot to a 16-month high Thursday on signs the U.S. job market is improving, although not by enough to prompt the Federal Reserve to pull back on its bond-buying program. Benchmark crude for August delivery rose $1.56 to finish at $108.04 a barrel, the highest close since March 19, 2012. Oil has jumped more than $11 a barrel in July, and pushed up the price of gasoline along with it. Gasoline futures have gained 13 per cent since July 1, and the average [Read more]
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CNRL ordered to restrict steam injection at oilsands site after leak
CALGARY - The Alberta Energy Regulator has ordered Canadian Natural Resources Ltd. to restrict steam injection, enhance monitoring and accelerate cleanup at its Primrose and Wolf Lake oilsands projects. The move comes three weeks after the AER reported an emulsion of oilsands bitumen and water had been released on the Cold Lake Air Weapons Range. Click here to read the release from the AER. [Read more]
Alberta Energy Regulator orders enhanced monitoring and further steaming restrictions at Primrose and Wolf Lake projects due to bitumen emulsion releases
Calgary, Alberta (Jul 18, 2013)… The Alberta Energy Regulator (AER) has ordered Canadian Natural Resources Limited (CNRL) to restrict steam injection, enhance monitoring, and continue to accelerate cleanup efforts at its Primrose and Wolf Lake high pressure cyclic steam stimulation (HPCSS) project following incidents involving the release of bitumen emulsion to surface within the project area located in the Cold Lake region. Earlier this year, as a result of three releases of bitumen [Read more]
Penn West Exploration Announces Organizational Changes to Streamline its Management Structure and Second Quarter Conference Call Details
CALGARY, July 18, 2013 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("PENN WEST" or the "Company") announces that effective immediately it is further streamlining and focusing its management structure. Moving forward, our business will have a focus on production delivery led by Gregg Gegunde, Senior Vice President, Production and asset value enhancement led by Mark Fitzgerald, Senior Vice President, Development. The remaining members of the executive officer team will continue to [Read more]
PanTerra Announces Change to Credit Facility and Update to Previously Announced Disposition
CALGARY, July 18, 2013 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Company") announces that it has received a commitment letter for a revised credit facility from its lender and has entered into new terms in regards to the closing of the second tranche of its previously announced sale of 60% of the Company's Working Interest in its Carrot Creek Cardium assets of Central Alberta. Pursuant to the terms of the commitment letter, the Company's revolving operating demand loan will be reduced [Read more]
Blackbird Energy Announces TSX-V Approval of Farmout Agreement With Pennant Energy Inc.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 18, 2013) - (TSX VENTURE:BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to announce that the Farmout Agreement (the "Agreement") with Pennant Energy Inc. ("Pennant") has been approved by the TSX Venture Exchange (the "Exchange"). Pursuant to the terms of the Farmout Agrement, Pennant may earn a 30% working interest in certain lands and leases (the "Farmout Lands") owned by Blackbird in the Mantario area of West [Read more]
Marksmen Announces Appointment of Director
CALGARY, ALBERTA--(Marketwired - July 18, 2013) - NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH) announces that it has appointed, subject to regulatory approval, Bruce W. Barren as a director of the Corporation. Mr. Barren, who has consented to join the board of directors of Marksmen, is a corporate executive and advisor with over 45 years of experience in more than 200 [Read more]
Whitecap Resources Inc. closes $170 million bought deal financing and commits $450,000 to southern Alberta flood relief efforts
CALGARY, July 18, 2013 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has completed its previously announced bought deal financing (the "Offering"). Whitecap, through a syndicate of underwriters co-led by GMP Securities L.P. ("GMP") and National Bank Financial Inc. and including DundeeSecurities Ltd., FirstEnergy Capital Corp., Macquarie Capital Markets Canada Ltd., TD Securities Inc., CIBC World Markets Inc., Raymond James Ltd., Scotia [Read more]
Pine Cliff Energy Ltd. Enters Into Agreement to Acquire Additional Interests in Shallow Gas Southern Alberta & Southern Saskatchewan Assets & Assume Operatorship of All Interests in These Areas
CALGARY, ALBERTA--(Marketwired - July 17, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Pine Cliff Energy Ltd. (TSX VENTURE:PNE) ("Pine Cliff" or the "Company") is pleased to announce that it has entered into an arm's length purchase and sale agreement (the "Purchase Agreement") to purchase (the "Acquisition") additional interests in the Southern Alberta and Southern Saskatchewan properties (the "Assets") that Pine Cliff had originally acquired an [Read more]
Suncor Energy releases 2013 Report on Sustainability
CALGARY, ALBERTA--(Marketwired - July 17, 2013) - Suncor Energy announced today the release of its 2013 Report on Sustainability. The voluntary report highlights Suncor's environmental, social and economic performance. "Is it possible to have a prosperous economy and a vibrant society, while maintaining a healthy planet for our grandchildren? I believe the answer is yes," said Steve Williams, president and chief executive officer. "To do this, we need to take collaboration to the next [Read more]