CALGARY, ALBERTA--(Marketwired - May 27, 2013) - The Canadian Association of Oilwell Drilling Contractors (CAODC) has released its revised 2013 Forecast. The initial 2013 Forecast was released in November 2012. The revised 2013 Forecast includes actual first quarter data and minor adjustments to forecast totals. These adjustments include a 2.3% increase in the projected well count for 2013 - from 10,409 wells to 10,649 wells. First Quarter Actuals From January to March, industry ran an [Read more]
Headlines
Price of WTI oil falls below $94 per barrel as US oil traders take holiday profit
BANGKOK, Thailand (AP) - The price of oil fell Monday as traders concerned about global energy demand took profits ahead of economic data from China and the United States. Benchmark oil for July delivery was down 59 cents to $93.66 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 10 cents to $94.15 a barrel on Friday. Analysts said traders took profits before May unemployment data is released Tuesday in Washington, which [Read more]
Pine Cliff Energy Ltd. Enters Into an Agreement to Acquire A Further Interest in Monogram Assets
CALGARY, ALBERTA--(Marketwired - May 27, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX VENTURE:PNE) is pleased to announce that it has entered into an arm's length Letter of Intent to acquire (the "Acquisition") an additional 53.8196% working interest in the Monogram unit and related infrastructure in the Province of Alberta (the "Monogram Assets") for cash consideration of $34 [Read more]
Hawk announces first quarter 2013 results
CALGARY, May 24, 2013 /CNW/ - Hawk Exploration Ltd. ("Hawk" or the "Corporation") announces its results for the three months ended March 31, 2013. HIGHLIGHTS Highlights for the three months ended March 31, 2013 were as follows: Averaged 624 boe/d of production in the first quarter of 2013, a 44% increase over the 434 boe/d average production in the same period of 2012; Increased oil and liquids production by 49% in the first quarter of 2013 to 597 bbl/d compared to 402 bbl/d of oil and [Read more]
Border Petroleum Announces 2013 Reserves and Corporate Update
CALGARY, ALBERTA--(Marketwired - May 24, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Border Petroleum Corp. (TSX VENTURE:BOR) ("Border" or the "Company") announces the results of its 2013 year-end oil and gas reserves evaluation and provides shareholders with a corporate update. Border's March 31, 2013 year-end reserves were evaluated in a report (the "Sproule Report") prepared by independent reserves evaluator Sproule & Associates [Read more]
Xtreme Drilling Announces New Director
CALGARY, ALBERTA--(Marketwired - May 24, 2013) - Xtreme Drilling and Coil Services (TSX:XDC) announces that the Board of Directors of the company have approved the appointment of Mr. David W. Wehlmann to Xtreme's Board of Directors effective May 23, 2013. Appointment of David Wehlmann to Board The Board is pleased to announce the appointment of David Wehlmann as an independent director of Xtreme. During the process of identifying candidates the Board sought individuals with strong [Read more]
MEG Energy announces agreement to expand and extend credit facility
CALGARY, May 24, 2013 /CNW/ - MEG Energy Corp. ("MEG") today announced that it has expanded its senior secured revolving credit facility from US$1.0 billion to US$2.0 billion and has extended the maturity of the revolving credit facility by one year to 2018. The transaction was completed through an amendment of MEG's credit agreement. The revolving credit facility retains its covenant-lite structure and is currently undrawn. "The expansion of our credit facility provides MEG with additional [Read more]
Shoreline Energy Corp. Announces Credit Facility Extension
CALGARY, ALBERTA--(Marketwired - May 24, 2013) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") is pleased to announce that it has received a 60 day extension from its lender ATB Financial to comply with certain working capital covenants under the terms of its loan facility. Shoreline requested the extension in order to have adequate time to put in place a credit facility secured against its US assets which are not included in the Company's current borrowing base, and which have [Read more]
Kinder Morgan takes next step in its Trans Mountain oil pipeline expansion plan
Kinder Morgan Canada's proposal to increase the capacity of its Trans Mountain pipeline calls for 30 oil tankers a month to load up with Alberta crude at its terminal in Burnaby, B.C., — up from about one per week.The information is part of a formal description of the proposed $5.4-billion, 1,150-kilometre-long pipeline project the company has filed with the National Energy Board.If approved, the pipeline would carry about 890,000 barrels of oil per day from the Edmonton area across both [Read more]
Wife of trucker puzzled by bridge collapse
MOUNT VERNON, Wash. - The wife of a Canadian trucker linked to a dramatic bridge collapse in Washington state says her husband had all the permits he needed and she doesn't believe he is responsible for bringing the structure down.Cynthia Scott says she spoke with her husband, Bill Scott, right after he saw the Interstate 5 bridge crash into the Skagit River about 15 metres below."He looked in the mirrors and it just dropped out of sight," she said Friday from the couple's home on a rural [Read more]