Chinook Energy Inc. (CKE.TO) ("Chinook" or the "Company") is pleased to provide the following operational update. Bir Ben Tartar Concession, Tunisia TT-10 Horizontal Well Initial Flow Rates The TT-10 well is Chinook''s fourth horizontal well test of the Ordovician Quartzite Reservoir on the Bir Ben Tartar Production Concession (the "BBT Concession"). Partners in the BBT Concession are Enterprise Tunisienne D''Activites de Petrolieres ("ETAP") as block holder and Chinook (86% interest) [Read more]
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Canadian Oil Sands Announces 2012 Financial Results and a $0.35 Per Share Dividend
Canadian Oil Sands Limited (COS.TO) (COSWF) All financial figures are unaudited and in Canadian dollars unless otherwise noted. Highlights for the three months and year ended December 31, 2012: Cash flow from operations was $418 million ($0.86 per Share) in the fourth quarter of 2012 compared with cash flow from operations of $363 million ($0.75 per Share) in the same quarter of 2011. For the 2012 year, cash flow from operations totalled $1,581 million ($3.26 per Share), down 17 per [Read more]
Twin Butte Energy Ltd. Provides Corporate and Operational Update
Twin Butte Energy Ltd. ("Twin Butte" or the "Company") is pleased to provide an update on various corporate activities. Twin Butte anticipates releasing Q4 and year end 2012 financial and operating results on March 21, 2013. The Company further anticipates that the year end 2012 independent reserve analysis will be complete within the next three weeks and intends to issue a press release with a summary of such results at that time. Unaudited Q4 and full year 2012 corporate performance met [Read more]
Penn West announces 2013 capital budget
PENN WEST PETROLEUM LTD. is pleased to announce that the Board of Directors has approved its capital budget for 2013. Penn West has a leading position in several emerging and established light-oil resource plays as well as numerous other large scale resource opportunities. Control of this quality asset base affords Penn West the ability to allocate capital to achieve a range of strategic goals. In the past several years, Penn West has balanced appraisal of its significant resource base with a [Read more]
MEG Energy announces closing of $400 million public bought deal common share financing and concurrent $400 million private placement common share financing
MEG Energy Corp. announced today that it has closed its recently announced bought deal financing (the "Public Offering") and concurrent private placement (the "Private Placement") of common shares. A total of 12,125,000 common shares have been issued pursuant to the Public Offering and 12,121,212 common shares have been issued pursuant to the Private Placement to Caisse de dépôt et placement du Québec, at a price of $33.00 per share, for aggregate gross proceeds of approximately $800 million. [Read more]
Encana to Sell Its Interest in Proposed Kitimat Liquefied Natural Gas Export Terminal
Encana Corporation has agreed to sell its 30 percent interest in the proposed Kitimat liquefied natural gas (LNG) export terminal project to Chevron Canada Limited (Chevron), subject to regulatory approvals and post-closing adjustments. Included in the sale are Encana''s 30 percent interest in the associated Pacific Trail Pipelines as well as approximately 32,500 acres of undeveloped land in the Horn River Basin of northeastern British Columbia and the assumption of Encana''s take-or-pay [Read more]
Pengrowth Announces Sale of Non-Core Weyburn Asset
Pengrowth Energy Corporation today announced that it has an agreement in place to sell its 10.01952% working interest in its non-operated Weyburn property to OMERS Energy Inc. and Ontario Teachers'' Pension Plan. Total proceeds, subject to closing adjustments, are expected to be $315 million. These funds will be used to help finance the initial phase of the Lindbergh thermal bitumen project and in the interim, used to reduce debt. On a pro-forma basis, the Weyburn disposition will result in [Read more]
Chinook Energy Announces Strategic Canadian Asset Acquisition and New Credit Facility
Chinook Energy Inc. is pleased to announce the following developments: Strategic Acquisition Effective April 1, 2012, Chinook acquired certain assets in the greater Grande Prairie area of northwestern Alberta from a senior producer for $31 million, before closing adjustments and related costs (the "Acquisition"). The acquired assets are within Chinook''s core Grande Prairie operating area and expand the Company''s Dunvegan and Doe Creek oil focus. Key attributes of the Acquisition are [Read more]
$4 BILLION JOINT VENTURE: Encana and PetroChina to develop the Duvernay
Encana Corporation has entered into a joint venture arrangement with Phoenix Duvernay Gas (Phoenix), a wholly owned subsidiary of PetroChina, to explore and develop Encana's extensive undeveloped Duvernay land holdings in west-central Alberta. Under the terms of the agreement, Phoenix will gain a non-controlling 49.9% interest in Encana's approximately 445,000 acres in the Duvernay play for total consideration of C$2.18 billion. At closing, C$1.18 billion was paid to Encana and C$1.0 billion [Read more]
Longview Announces 2013 Guidance
Longview Oil Corp. is pleased to announce that the Board of Directors has approved operational guidance and a capital budget of $36 million for the year ending December 31, 2013 . Consistent with our business strategy, we have developed a sustainable and balanced 2013 budget that will preserve a strong balance sheet while utilizing funds from operations to maintain our current dividend policy and fund substantially all of our capital expenditures while maintaining production at 2012 levels. [Read more]