The Associated Press NEW YORK, N.Y. – The price of oil held onto small gains Wednesday after the government reported a slight increase in U.S. crude supplies. By early afternoon in New York, benchmark crude for June delivery was up 36 cents to US$95.98 a barrel. The contract fell 54 cents to finish at $95.62 per barrel on Tuesday. The U.S. Energy Department said oil supplies grew last week by 200,000 barrels to 395.5 million barrels, which is 4.2 per cent above year-ago levels. Analysts [Read more]
Headlines
Enbridge adjusted earnings beat expectations, but pace not expected to last
By Lauren Krugel, The Canadian Press CALGARY - Enbridge Inc. is seeking U.S. approval to pump more crude through an Alberta-to-Wisconsin pipeline — a process the company expects to be easier than the one TransCanada Corp. is facing with its Keystone XL pipeline. "I think I'd point out that this is a little bit of a different situation," Enbridge CEO Al Monaco told analysts on a conference call Wednesday to discuss the company's first-quarter results. Enbridge (TSX:ENB) won't be laying [Read more]
Alberta NDP calls on province to release energy pipeline safety report
By John Cotter, The Canadian Press EDMONTON - The New Democrats say it's time for the Alberta government to release a report on the safety of oil and natural gas pipelines in the province. Alberta Energy Minister Ken Hughes ordered the safety assessment last summer following three oil pipeline spills, including one that polluted part of the pristine Red Deer River. An engineering firm completed the technical report last fall and presented the findings to the government, which sent the [Read more]
Enbridge to Invest $1.2 Billion in Enbridge Energy Partners Through Preferred Unit Private Placement
CALGARY, ALBERTA and HOUSTON, TEXAS--(Marketwired - May 8, 2013) - Enbridge Inc. (ENB.TO)(ENB) ("Enbridge") and Enbridge Energy Partners, LP (EEP) ("EEP" or the "Partnership") today announced that they have entered into an agreement whereby Enbridge will invest $1.2 billion in preferred units issued by EEP, and which is expected to close later today. Additionally, EEP expects to exercise its options to pare down its economic interests in the Lakehead system expansions of both the Eastern [Read more]
Talisman Energy Announces Agreement to Exit Poland
CALGARY, ALBERTA--(Marketwired - May 8, 2013) - Talisman Energy Inc. (TLM.TO) (TLM) Talisman Energy Poland B.V. (Talisman) has reached an agreement to transfer its interests in Poland to its partner San Leon Energy (San Leon). San Leon will acquire 100% of the shares of Talisman Energy Polska Sp. z o.o. (100% held by Talisman Energy Poland B.V.), including all assets and drilling equipment. The deal enables Talisman to exit the country with no outstanding commitments or [Read more]
Tamarack Valley Energy Ltd. Announces Record Production and Funds from Operations and Releases 2013 First Quarter Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - May 8, 2013) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") has filed its unaudited condensed consolidated financial statements for the three months ended March 31, 2013 ("Financial Statements") and management's discussion and analysis ("MD&A") on SEDAR. Selected financial and operational information is outlined below and should be read in conjunction with the Financial Statements, which were prepared in accordance with [Read more]
Bellatrix Exploration Ltd. Announces First Quarter 2013 Financial Results
TSX, NYSE MKT: BXE CALGARY, May 8, 2013 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) announces its financial and operating results for the three months ended March 31, 2013. Forward-Looking Statements This press release, including the report to shareholders, contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the beginning of the management's discussion and [Read more]
Oil slips on expectation U.S. supplies are growing and report on Saudis output
NEW YORK, N.Y. – The price of oil fell Tuesday on expectations of another increase in U.S. oil supplies. West Texas Intermediate, the benchmark crude in the U.S., fell 54 cents to finish at US$95.62 per barrel on the New York Mercantile Exchange. The U.S. Energy Department releases its weekly report on U.S. oil inventories Wednesday. Addison Armstrong, senior director of market research at Tradition Energy, expects supplies rose by 2.8 million barrels in the week ended May 3. [Read more]
Long Run Exploration Ltd. Announces First Quarter 2013 Results
CALGARY, ALBERTA--(Marketwired - May 7, 2013) - Long Run Exploration Ltd. ("Long Run" or the "Corporation") (LRE.TO) is pleased to report financial and operational results for the quarter ended March 31, 2013. This represents the first full quarter of operations as Long Run, a significant milestone in the evolution of the Corporation. Long Run aggressively drilled both the Montney and the Viking this quarter, adding more than 3,000 boe per day of production from 2012 fourth quarter exit volumes [Read more]
Paramount Resources Ltd. First Quarter 2013 Results, Sales Volumes Increase 20%, Musreau Deep Cut Facility on Schedule for Late Third-Quarter Commissioning
CALGARY, ALBERTA--(Marketwired - May 7, 2013) -Paramount Resources Ltd. (POU.TO) FIRST QUARTER OVERVIEW Principal Properties Paramount achieved record sales volumes of 23,600 Boe/d in March 2013, the highest since the spin-out of Trilogy in 2005, despite 800 Boe/d of property dispositions and 2,000 Boe/d of third party disruptions. First quarter 2013 sales volumes increased 20 percent from the first quarter of 2012 to 22,591 Boe/d. Kaybob COU sales volumes increased 46 percent to [Read more]