Gastar Exploration Reports Minimal Impact from Pipeline Disruption; Reaffirms First Quarter Production Guidance
Gastar Exploration Ltd. (NYSE MKT: GST) (Gastar) today announced that to date its production has been minimally affected by the rupture of a Williams Partners natural gas pipeline in Marshall County, West Virginia on Friday, March 22. The Company is reaffirming its previously issued first quarter production guidance of 38 to 41 MMcfe per day.
Quattro Announces a Binding Letter of Intent to Acquire More Than 580 Boe/d of Oil and Gas Production in Central Alberta
Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the "Company") is pleased to announce that it has entered into an arms-length agreement (the "Letter of Intent" or "LOI") with an Alberta-based private oil and gas exploration and production company to acquire certain oil and gas interests in East Central Alberta.
The acquisition comprises of four production packages, currently producing more than 580 boe/d (of which greater than 30% is oils and liquids), and developed land of approximately 82,395 acres (net), undeveloped lands of 75,220 acres (net) for a total of 157,615 acres (net) in East Central Alberta (the "Acquisition").
Questerre Energy Corporation: Fourth Liquids-Rich Montney Well Tests at Approximately 1,800 boe/d
NOT FOR DISTRIBUTION ON U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) is pleased to report on the test results from its fourth horizontal well (the "03-19 Well") in the Kakwa-Resthaven area of west central Alberta.
The well was successfully completed with a 14-stage water-based nitrogen foam fracture stimulation in the 1321m horizontal section. Initial clean up and flow back began on March 11 2013 and the well was tested for a 161-hour period thereafter.
Ivanhoe Energy and SBM Offshore Sign Alliance to Accelerate Development of Un-tapped Offshore Heavy Oil Resources
Alliance represents another significant step to commercialize HTL
Ivanhoe Energy (TSX:IE.TO - News) (NASDAQ:IVAN - News) and SBM Offshore (SBM) are pleased to announce they have formed a global strategic alliance (Alliance), combining their respective expertise to create Floating, Production, Upgrading, Storage and Offloading vessels (FPUSO's).
The two companies have combined their respective technologies and experience to produce a first of its kind design for offshore facilities that will economically produce and upgrade heavy oil from offshore fields with crude oil quality down to 10°API gravity, or lower.
BNK Petroleum Inc. announces sale of Woodford assets; accelerates drilling in BNK's Caney formation
BNK Petroleum Inc. (the "Company") (TSX: BKX) is pleased to announce that its indirect wholly owned subsidiary BNK Petroleum (US) Inc. ("BNK US") has entered into a Purchase and Sale Agreement with XTO Energy Inc. ("XTO"), a subsidiary of Exxon Mobil Corporation, for the sale by BNK US of its Tishomingo Field, Oklahoma assets other than the Caney and upper Sycamore formations, for US$147.5 million, subject to customary closing adjustments.
Subject to completion of customary conditions, the transaction is expected to close in late April. If the transaction is completed, the proceeds of the sale are expected to be used to accelerate the drilling of Caney wells in the Tishomingo field, the Company's ongoing exploration efforts in Europe and for repayment of the Company's credit facility.
Rosetta Resources Inc. Acquires Oil-Rich Assets in Permian's Delaware Basin Adding Significant Capital Project Inventory Provides new basin entry in Permian and access to oil-weighted multi-pay areas Adds 40,200 net acres in Delaware Basin delineated Wolfbone play Expands capital project inventory by approximately 1,300 gross drilling locations Adds 13,100 net acres with multiple exploratory opportunities in Midland Basin Accretive to cash flow per share in 2014
Rosetta Resources Inc. (ROSE) ("Rosetta" or the "Company") today announced it has entered into a definitive agreement to acquire Permian Basin assets from Comstock Resources, Inc. (CRK) ("Comstock") for a purchase price of approximately $768 million, subject to customary closing adjustments.
PRD Energy Awarded Two Petroleum Licenses Covering Approximately 158,000 Acres Onshore Germany in the State of Schleswig-Holstein
PRD Energy Inc. ("PRD" or the "Company") (TSX VENTURE:PRD) is pleased to announce that it has been awarded the Ostrohe Exploration License covering approximately 156,000 acres as well as the Prasdorf Production License, covering approximately 2,000 acres. Both licenses are located in the state of Schleswig-Holstein, and are within the Northwest German Basin. The licenses have been awarded to PRD Energy GmbH, a wholly-owned subsidiary of the Company.
The Northwest German Basin has a history of significant petroleum discoveries and a number of these discoveries have been made within close proximity to the Ostrohe license.
Ballard Fuel Cell Modules to Power Fleet of 10 Clean Energy Buses in Aberdeen, Scotland
Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) has announced the recent signing of an agreement between Van Hool NV, Europe's fourth largest bus manufacturer, and the Transit Authority in Aberdeen, Scotland for delivery of 10 buses that will be powered by Ballard's 150 kilowatt FCvelocityTM-HD6 fuel cell module.
When deployed in revenue service, the 10-bus fleet to be operated in Aberdeen will be Europe's largest hydrogen fuel cell bus fleet. Furthermore, by early-2014 approximately 40 buses in Europe will be powered by Ballard fuel cell modules.
TORC Oil & Gas Ltd. Announces Fourth Quarter and Year-End Financial & Operating Results and 2012 Year-End Reserves
TORC Oil & Gas Ltd. ("TORC" or the "Company") (TOG.TO) is pleased to announce its financial and operating results for the three month periods and years ending December 31, 2011 and 2012, and to provide its 2012 year-end reserves information as evaluated by Sproule Associates Limited ("Sproule"). TORC completed the acquisition of Vero Energy Inc. ("Vero") effective November 19, 2012 and all figures are pro forma Vero as of that date.
The associated Management's Discussion and Analysis ("MD&A") dated March 11, 2013 and audited financial statements as at and for the year ended December 31, 2012 can be found at www.sedar.com and www.torcoil.com.
Ballard Signs Agreement for Clean Energy Fuel Cell Module to Power Connecticut Bus
Ballard Power Systems (NASDAQ:BLDP - News) (TSX:BLD.TO - News) has announced a supply agreement with the Center for Transportation and the Environment for a 150 kilowatt FCvelocityTM-HD6 fuel cell module to be integrated into a bus that will be deployed with CTTransit in Hartford, Connecticut. The All-American fuel cell hybrid bus is expected to be delivered in 2015.
The fuel cell hybrid bus configuration to be deployed with CTTransit was jointly developed with partners BAE Systems and ElDorado National and is currently in operation with SunLine Transit Agency in Thousand Palms, California.
NOCAL Approves Revised Production Sharing Contract for Block LB-13 Offshore Liberia; Canadian Overseas Petroleum Revises Agreements with Peppercoast Petroleum and ExxonMobil NOCAL Approves Revised Production Sharing Contract for Block LB-13 Offshore Liberia; Canadian Overseas Petroleum Revises Agreements with Peppercoast Petroleum and ExxonMobil
Canadian Overseas Petroleum Limited ("COPL" or "the Company") (TSX-V: XOP), and its wholly owned subsidiary, Canadian Overseas Petroleum Bermuda Limited ("COPL Bermuda"), is pleased to announce that a Restated and Amended Production Sharing Contract ("PSC") for Block LB-13 offshore Liberia has been agreed with ExxonMobil Exploration and Production Liberia Limited ("ExxonMobil") and the National Oil Company of Liberia ("NOCAL").
Kelt announces $94.35 million equity financing
Kelt Exploration Ltd. ("Kelt" or the "Company") is pleased to announce a brokered and non-brokered equity financing for gross aggregate proceeds of $94.35 million.
Brokered Private Placement
Kelt is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Peters & Co. Limited, and including FirstEnergy Capital Corp., RBC Capital Markets, Scotia Capital Inc., CIBC World Markets Inc., Cormark Securities Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., GMP Securities Inc., and Stifel Nicolaus Canada Inc. (collectively the "Underwriters"), under which the Underwriters have agreed to purchase for resale to the public, on a bought deal private placement basis, 11.0 million common shares of Kelt at a price of $5.55 per common share, resulting in gross proceeds of $61,050,000.
Canadian Overseas Petroleum Acknowledges Speech by NOCAL CEO Regarding Block LB-13
Canadian Overseas Petroleum Limited ("COPL" or "the Company") (XOP.V), issues this news release as a result of unusual trading in its Common Shares on the morning of Thursday, March 7, 2013 , and in consultation with the Investment Industry Regulatory Organization of Canada .
COPL notes the statements made by the Chief Executive Officer of the National Oil Company of Liberia made March 7, 2013 in Liberia in relation to the proposed acquisition of a significant interest in offshore Liberia Block LB-13 by a wholly-owned subsidiary of the Company. An article about the Chief Executive Officer's speech can be found at www.micatliberia.com. The parties are in the process of executing the relevant documents and the Company is encouraged by this development. The Company hopes to be in a position to provide further news shortly.
JA Solar Modules Receive UL Certification for Use in 1000 Vdc Installations
JA Solar Holdings Co., Ltd. (JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, today announced that the Company's entire range of modules has received UL 1703 certification for use on 1000 Vdc systems in the United States and Canada from Underwriters Laboratories ("UL"), a global independent safety science company. The modules were tested in Intertek laboratories and also received ETL certification, demonstrating their compliance with the requirements of widely accepted product safety standards.
PDC Energy Announces 2012 Fourth Quarter and Year-End Results; Successful Results From Second Horizontal Utica Shale Well
PDC Energy, Inc. ("PDC" or the "Company") (PDCE) today reported its 2012 fourth quarter and year-end financial and operating results.
In mid-February 2013, the Company flow tested its second horizontal Utica Shale well in Guernsey County, Ohio. The Detweiler 42-3H well tested through tubing at a peak rate of 2,197 barrels of oil equivalent ("Boe") per day on a 20/64" choke with an average rate of 2,039 Boe per day for 24 consecutive hours. The Detweiler 42-3H well flow test was conducted following a 60-day resting period. Based upon composition analysis, the gas being produced is 1,263 BTU rich gas.
Bankers Petroleum Announces 2012 Reserves Report
224 Million Barrels of Proved plus Probable (2P) Reserves; NPV of $1.86 billion Average Production 1st Quarter to Date 16,800 bopd
Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) is pleased to provide the results of its December 31, 2012 independent reserves evaluation. Evaluations were conducted by RPS Energy Canada Ltd. (RPS) for the Patos-Marinza oilfield, Albania and by DeGolyer and McNaughton Canada Ltd. (D&M) for the Kuçova oilfield, Albania and were prepared in accordance with Canadian National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.
Niko Provides Updates
Niko Resources Ltd. ("Niko" or the "Company") (NKO.TO), is pleased to provide the following updates.
Planned Capital Spending in India for Fiscal 2014 and Fiscal 2015
Subject to significantly improved pricing for natural gas produced in India, the Company''s estimate of its share of planned capital spending in India is as follows:
The Company''s estimate of its share of planned capital spending for the D6 Block is $35 to $45 million for the fiscal year ended March 31, 2014, and $40 to $50 million for the fiscal year ended March 31, 2015. These figures include estimated costs for the following planned capital projects:
Western Energy Services Corp. Announces Strategic Acquisition of IROC Energy Services Corp.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Western Energy Services Corp. ("Western") (TSX: WRG) and IROC Energy Services Corp. ("IROC") (TSX Venture: ISC) are pleased to announce that they have entered into an arrangement agreement (the "Arrangement Agreement") to combine Western's premier contract drilling fleet with IROC's industry leading well servicing fleet and oilfield equipment rental business (the "Transaction"). The combined company will operate one of the newest fleets of equipment in each of its respective service lines. The quality of the equipment, coupled with their operational excellence, is evident in that both companies currently yield one of the highest rig utilizations in each of their respective industry segments.
Gran Tierra Energy Tests 1,984 Barrels of Oil per Day (18.5 Degree API) with Peru Discovery Well
Planning Horizontal Sidetrack to Implement Long Term Test and Bring New Oil to Market
Gran Tierra Energy Inc. ("Gran Tierra Energy") (NYSE MKT: GTE, TSX: GTE), a company focused on oil exploration and production in South America, today provided updates for its exploration drilling in Peru.
"Gran Tierra Energy has successfully completed initial testing of the Bretaña Norte 95-2-1XD exploration well in Peru at rates that far exceeded expectations. We are currently planning to extend the Bretaña Norte 95-2-1XD exploration well with a horizontal leg, with operations expected to commence by the end of February, to initiate long term testing and to fast-track first production from the Bretaña discovery," said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy.
Twin Butte Energy Confirms February Dividend Payment
Twin Butte Energy Ltd. (TSX:TBE) ("Twin Butte" or the "Company") confirms that its cash dividend in respect of February 2013 production will be $0.016 per share. The eligible dividend will be paid on March 15, 2013 to shareholders of record on February 28, 2013. The ex-dividend date is February 26, 2013. These dividends are designated as "eligible dividends" for Canadian income tax purposes.
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