Headlines for Feb. 20, 2014

  1. Forecasting Unconventional Reservoirs No Easy Feat

    While the advent of horizontal drilling and multi-stage fracturing has opened up a plethora of potential targets for exploration and production companies, the ability to accurately forecast future well results and reserve potential has not kept up with the new technologies employed by industry.

  2. Tourmaline Boosts Capex For 2014, Reports 2013 Reserves

    Tourmaline Oil Corp. announced that, with completion of the equity financing during the first quarter of 2014, the company is expanding its capital budget to $1 billion this year from $900 million, and increasing full-year 2014 average production guidance to 120,000 boe per day.

  3. Mallee Energy Undeveloped Property Divestiture

    Sayer Energy Advisors has been engaged to assist Mallee Energy Ltd. and its internal partners with the sale and/or farmout of its assets located in the Estevan area of Saskatchewan and in the Puskwa area of Alberta.

  4. Property Sales Reduce Zargon Reserves

    Reflecting a year of transition, refocus and property sales, Zargon Oil and Gas Ltd.’s 2013 year-end proved and probable total reserves declined 11 per cent to 27.69 million bbls of oil equivalent from 31.19 million boe at year-end 2012.

  5. Wood Mac Says Panama Canal Expansion Delays Would Impact U.S. Gulf LNG

    Wood Mackenzie expects the recent cost overrun disputes for the Panama Canal expansion to be resolved with limited disruption due to the significance of the canal to global trade, but significant disruptions will crimp profitability for U.S. LNG producers, create a tighter LNG shipping market and affect the Gulf Coast petrochemical industry.

  6. Suncor Energy Amends Normal Course Issuer Bid

    Suncor Energy Inc. has received approval from the Toronto Stock Exchange to amend its existing normal course issuer bid effective as at the close of markets on Feb. 21, 2014, through the facilities of the TSX, New York Stock Exchange and/or alternative trading platforms.

  7. IOMS Group Of Companies Staff Announcements

    International Oilfield Management Services (IOMS), which includes JEDEX Equipment, International Oilfield Equipment Brokers Ltd. and International Oilfield Equipment Rentals, announces that Brent Woolnough was promoted from controller to chief operating officer, extending his role to provide operating leadership to the daily operations of the entire group of companies.

  8. Tamarack Valley Closes Bought Deal Financing

    Tamarack Valley Energy Ltd. has closed its previously announced bought deal financing of 14 million common shares at $4.30 per common share for aggregate gross proceeds of $60.2 million.

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