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The Alberta Securities Commission has concluded a settlement agreement with three members of the same family in connection with illegal insider trading and tipping related to Connacher Oil and Gas Ltd. shares.
Exall Energy Corporation said today that Viking Investments Group, Inc. has advised it that given the current timing, it is considering dispensing with a bridge financing arrangement as a means to retire Exall’s existing facility with its current senior Canadian lender in full.
Paramount Resources Ltd.’s 2015 capital budget totals $400 million, focused on its DeepBasin development and maintaining the optionality of future growth initiatives, the company said in releasing its year-end results.
Cash-strapped and debt-ridden Lightstream Resources Inc. is suspending its second half operated drilling program, which will lower capital spending by 45 per cent to a range of $100 million to $120 million.
Crew Energy Inc.’s full-year and fourth quarter 2014 production declined year-over-year as a result of the disposition of two Alberta-based asset packages where the company sold more than 10,600 boe per day, or 39 per cent of 2013 average production.
For the fourth quarter of 2014, NuVista Energy Ltd.’s average production was 23,165 boe per day, up from 18,034 boe per day for the fourth quarter of 2013 and 18,030 boe per day for the third quarter of 2014. The increase in production of 28 per cent from the fourth quarter of 2013 is due to the strong performance of new and existing Wapiti Montney wells. This growth rate was partially offset by the sale of non-core properties in 2014. For the full-year, the company’s production climbed to 18,391 boe per day from 17,329 boe the previous year.
Even in these times of economic flux, the course of the oil sands sector remains vital to Canada’s energy future. During this crucial period, Oil Sands Trade Show & Conference is pleased to introduce a technical conference program to focus the conversation on producing advancements and creating efficiencies.
Hosted by Canadian Discovery Ltd., this two-day workshop examines how geomechanics can improve drilling, completions and production. This includes a rigorous determination of all three principal insitu stresses, pore pressure and rock properties.
Impairment charges on the company’s properties in Northeast British Columbia and the Peace River Arch drove a net loss for Cequence Energy Ltd. in the fourth quarter, although full-year earnings were up sharply (see table).
Bellatrix Exploration Ltd.’s total proved reserves climbed 30 per cent to 161.45 boe at Dec. 31, 2014, from 124.15 million boe a year ago, while proved-plus-probable (2P) reserves improved 18 per cent, to 250.1 million boe from 211.54 million boe a year earlier.
Kelt Exploration Ltd. has increased its previously announced non-brokered private placement of common shares, issued on a flow-through basis in respect of Canadian development expenses, at a price of $8.60 per share, to $33.4 million from $28.4 million.
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