Bonterra Energy Corp. (Bonterra) (www.bonterraenergy.com) (BNE.TO) reports the results of the independent reserve report prepared by Sproule Associates Limited with an effective date of December 31, 2012 for Spartan Oil Corp.; provides a pro forma reserves summary; updates its 2013 operating cost guidance; and corrects its finding, development and acquisition costs excluding future development costs for 2012. Highlights Proved plus Probable (P+P) reserves on a pro forma basis of 70.5 [Read more]
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ARC Resources Ltd. Announces Fifth Consecutive Year of Greater than 200 per cent Produced Reserves Replacement in 2012
ARC Resources Ltd. ("ARC") released today its 2012 year-end reserves and resources information. HIGHLIGHTS Replaced 200 per cent of 2012 total production, adding 69 mmboe of proved plus probable ("2P") reserves. 2P reserves increased six per cent to 607 mmboe, comprised of 2.5 Tcf of natural gas and 186 mmbbls of crude oil and natural gas liquids ("NGL's") at year-end 2012. ARC's 2P Reserve Life Index ("RLI") increased to 17.5 years, based on the 2013 mid-point production guidance of [Read more]
Bonterra Energy Corp. Announces Record Production in Fourth Quarter and Full Year 2012 and Provides an Operational Update
Bonterra Energy Corp. (Bonterra) (www.bonterraenergy.com) (BNE.TO) is pleased to provide an operational update including 2012 highlights, the results of its independent reserve report prepared by Sproule Associates Limited with an effective date of December 31, 2012 and its 2013 budget and guidance. In 2012, Bonterra maintained its focus on providing investors with a sustainable pace of development, continued growth on a per share basis and stable monthly income through its dividend policy [Read more]
Invicta Announces Record Field Production and Increase in Credit Facility to $18 Million
Invicta Energy Corp.is pleased to announce the successful completion of its fourth quarter drilling program of 7.0 gross (3.9 net) wells at Kindersley, Saskatchewan. In aggregate the Company drilled 22 gross (12.1 net) wells on its Viking light oil play at Kindersley, Saskatchewan in 2012. The Company forecasted an exit production rate of 535 bopd and achieved an average field production rate of 535 bopd for the month of December. For approximately half the production days in the month of [Read more]
Cenovus oil production anticipated to grow 14% in 2013
Cenovus Energy Inc. plans to make a significant investment in its oil assets next year as it continues to focus on growing production. The company expects to invest between $3.2 billion and $3.6 billion in 2013, building on its successful 2012 capital program. Steam generators at Cenovus's Christina Lake operation in northern Alberta “We’re in an excellent financial position with a strong balance sheet that gives us the flexibility to invest for future growth and maintain our focus on [Read more]
Bonterra makes bid for Spartan
Bonterra Energy Corp., is pleased to announce that it has made an offer (the "Offer") to Spartan Oil Corp. ("Spartan") pursuant to which Bonterra will acquire all of the outstanding common shares of Spartan ("Spartan Shares") in exchange for common shares of Bonterra ("Bonterra Shares") by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). The Arrangement will result in a dominant Cardium focused light oil producer with interests in the Greater [Read more]