Altagas and Painted Pony Announce Strategic Alliance and 198 Mmcf/d Townsend Natural Gas Processing Facility

CALGARY, ALBERTA--(Marketwired - Aug 19, 2014) - AltaGas Ltd. ("AltaGas") (ALA.TO) and Painted Pony Petroleum Ltd. ("Painted Pony") (PPY.TO) today announced they have signed definitive agreements to enter into a 15-year strategic alliance for the development of processing infrastructure and marketing services for natural gas and natural gas liquids (the "Strategic Alliance"). The Strategic Alliance will provide for the development of essential liquids-rich gas processing infrastructure in northeast British Columbia and will provide preferred access to international energy markets for Painted Pony's Montney production. In the first phase of the Strategic Alliance, AltaGas will construct and operate a 198 Mmcf/d shallow-cut gas processing facility (the "Townsend Facility") in the Montney resource play, of which Painted Pony will maintain the right to a minimum 150 Mmcf/d of firm capacity.

Read more: Painted Pony Petroleum Ltd ( PPY )

Synergy Resources Provides Production and Operations Update, Scheduled to Present at Enercom's The Oil & Gas Conference(R)

PLATTEVILLE, CO--(Marketwired - August 15, 2014) - Synergy Resources Corporation (NYSE MKT: SYRG), a U.S. oil and gas exploration and production company focused in the Denver-Julesburg Basin, provides an update of its production and operations in the Wattenberg Field. Production rates for Synergy's recent horizontal wells follow*:

             
Name of Pad Number of wells Average # of fracs per well Days of Production Average Daily (BOED)
Production
per well 8/8ths
% Oil
Cut
Cost Per
Well $MM
Renfroe 5 18 270 219 66% $3.6
Leffler 6 20 180 145 65% $3.7
Phelps 5 26 90 430 69% $4.0
Union 6 20 30 566 74% $3.9
             
Read more: Synergy Resources Corporation ( SYRG )

Saratoga Resources, Inc. Reports Second Quarter 2014 Financial Results

Saratoga Resources, Inc. (NYSE MKT:SARA; the “Company” or “Saratoga”) today announced financial and operating results for the quarter ended June 30, 2014.

Key Financial Results

  • Oil and gas revenues of $15.1 million for Q2 2014 compared to $10.6 million for Q1 2014;
  • Discretionary cash flow of $(0.5) million, or $(0.01) per fully diluted share, for Q2 2014 compared to discretionary cash flow of $(5.2) million, or $(0.17) per fully diluted share, for Q1 2014;
Read more: Saratoga Resources Inc ( SARA )

Andatee China Marine Fuel Services Corporation Reports Second Quarter 2014 Financial Results

BEIJING, Aug. 15, 2014 -- Andatee China Marine Fuel Services Corporation (AMCF), a leading independent operator engaged in the production, storage, distribution, trading of blended marine fuel oil for cargo and fishing vessels in China, today announced its financial results for the second quarter of 2014 ended June 30, 2014.

Second Quarter 2014 Financial Highlights:

  • Total sales in Q2 2014 increased by 131.67% to $175.5 million from $75.8 million in Q2 2013
  • Gross profit in Q2 2014 increased by 131.73% to $9.15 million from $3.95 million in Q2 2013
Read more: Andatee China Marine Fuel Services Corporation ( AMCF )

Twin Butte Energy announces 2014 second quarter financial and operating results

CALGARY, Aug. 13, 2014  - (TSX:TBE.TO - News) - Twin Butte Energy Ltd. ("Twin Butte" or  the  "Company") is pleased to report its financial and operational results for the three months ended June 30, 2014.

Highlights of Twin Butte's successful second quarter 2014 are as follows:

  • Average second quarter production of 21,109 boe/d (90% liquids), an increase of 25% from second quarter 2013 while liquids weighting increased to 90% from 87% over the same periods. Light and medium oil represented 36% of production in the quarter compared to 4% in the second quarter of 2013.
Read more: Twin Butte Energy Ltd ( TBE )