Significant Increase to 2013 Production Exit Rate; and Significantly Larger Than Anticipated Dividend CALGARY, ALBERTA--(Marketwired - June 11, 2013) - Surge Energy Inc. ("Surge" or the "Company") (TSX:SGY) announced today the orderly transition / conversion of the Company to a sustainable, moderate growth, dividend paying oil and gas company with high quality, focused, operated light and medium gravity crude oil assets. Surge also announced an accretive acquisition of an elite, [Read more]
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Zargon Oil & Gas Ltd. Announces Renewal of Credit Facilities
CALGARY, ALBERTA--(Marketwired - June 11, 2013) - Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") has renewed and extended its committed syndicated credit facilities and the lenders thereunder have confirmed a borrowing base of $165 million, an amount which remains unchanged from the prior year. The credit facilities are now fully revolving until June 25, 2014, with the provision for an annual extension at the option of the lenders and upon request from Zargon. If not extended, the credit [Read more]
Strata Oil Provides Regional Update Re Bitumen Production
CALGARY, ALBERTA--(Marketwired - June 11, 2013) - Strata Oil & Gas Inc. ("Strata" or the "Company") (OTCQB:SPIGF), today released a regional update on bitumen production in the Peace River and nearby Athabasca regions of Alberta. Strata Oil recently completed a resource evaluation on both its Cadotte Central and Cadotte West holdings, a step that brings the Company to the cusp of the completion of Phase 1 of a five phase plan to develop its 52,480 acre holdings. [Read more]
Petronas expects to invest up to $16 billion in LNG export facility in Canada
KUALA LUMPUR, Malaysia - Malaysian national oil company Petronas says it expects to spend up to $16 billion to build a liquefied natural gas export facility and related infrastructure in Western Canada.Arif Mahmood, Petronas vice-president of corporate planning, says the company will invest between $9 billion and $11 billion to construct two LNG liquefaction plants near British Colombia's west coast.Another $5 billion will be invested in a 750 kilometre-long pipeline, to be built by [Read more]
Encana Appoints Doug Suttles as President & CEO
CALGARY, ALBERTA--(Marketwired - June 11, 2013) - Encana (TSX:ECA)(NYSE:ECA) - Encana announced today that its Board of Directors has appointed Doug Suttles as its President & Chief Executive Officer and a director of the company. Doug Suttles is a seasoned executive, with 30 years of oil and gas leadership experience. He has led oil and gas businesses in numerous countries and consistently delivered strong results. Most recently, Doug has served as Chief Operating Officer, BP [Read more]
Largest ever Gas & Oil Expo kicks off today
Leading industry exhibition to showcase emerging technologies, live demonstrations and international networking opportunities CALGARY, June 11, 2013 /CNW/ - Gas & Oil Expo, the largest Canadian gas and oil event of 2013, kicks off today at Calgary's Stampede Park at 10:00 a.m. The biennial event, which runs until June 13, 2013, is the largest Gas & Oil Expo to date, welcoming more than 24,000 national and international registrants and more than 680 exhibiting companies. Gas & [Read more]
NEB: No serious Enbridge control room issues
CALGARY - The National Energy Board says its inspection of Enbridge's control room operations has found no serious issues, but that it's ordering a third-party audit to take a closer look."The board did not identify any non-compliances with its regulations that would pose an immediate hazard to public safety or the environment," the national energy watchdog said in a report released Monday.The inspections last August and September were meant to assess improvements Enbridge had made [Read more]
Encana to Announce New President & CEO June 11, 2013
CALGARY, ALBERTA--(Marketwired - June 10, 2013) - Encana Corporation (TSX:ECA)(NYSE:ECA) A news release will be distributed prior to the opening of the New York Stock Exchange and Toronto Stock Exchange to announce Encana's new President & CEO in Calgary, Alberta on the morning of June 11, 2013 at approximately 6:00 a.m. MT (8:00 a.m. ET). Following the announcement, Encana will host a conference call for the investment community at 9 a.m. MT (11 a.m. ET) and a media roundtable at [Read more]
Saskatchewan will need $20 to $30 billion in capital investments a year until 2032: report
REGINA - A new report says Saskatchewan will need to attract $20 billion to $30 billion in capital investment a year until 2032 to finance economic and infrastructure growth.And in order to do that, the Conference Board of Canada says Saskatchewan has to be open to foreign investors — including state-owned enterprises."Realistically, the investment isn't going to come from within Canada to do a lot of those projects," report author Michael Grant said Monday in a phone interview from [Read more]
NEB Releases Enbridge Control Room Inspection Report
CALGARY, June 10, 2013 /CNW/ - The National Energy Board (NEB or the Board) has released the inspection report documenting its assessment of Enbridge Pipeline Inc.'s (Enbridge) initiatives in pipeline integrity, emergency response management, and control centre operations. In August and September of 2012, the Board inspected Enbridge's control room operations to assess Enbridge's stated improvements following the 2011 pipeline rupture in Marshall, Michigan. "The Board requires its regulated [Read more]