Pacific announces receipt of constitutional court ruling regarding Quifa Block

TORONTO, March 31, 2016  - Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) today announced that the Company was formally notified of the Colombian Constitutional Court's decision instructing the Company to suspend operations within two kilometers of the border of an indigenous community known as "Vencedor Piriri" encompassing a portion of Quifa Block. The community is located in the north-west corner of the Quifa Block in the Meta Department of Colombia. Operations in this area are to be suspended until a prior consultation process is conducted with the indigenous community.

Published: 01 April 2016
Written by Editor
Up on News   Project Update  
Read more: Pacific Exploration & Production Corp ( PRE )

Bankers Petroleum Ltd. enters into definitive agreement to be acquired by an affiliate of Geo-Jade Petroleum Corporation

CALGARY, March 20, 2016  - Bankers Petroleum Ltd. ("Bankers") (TSX: BNK, AIM: BNK) is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") with 1958082 Alberta Ltd. (the "Purchaser") and Charter Power Investment Limited ("Charter Power") for the purchase of all the issued and outstanding common shares of Bankers ("Bankers Shares") at a cash price of C$2.20 per Bankers Share.  The Purchaser and Charter Power are affiliates of Geo-Jade Petroleum Corporation ("Geo-Jade"), one of the largest independent oil and gas exploration and production companies in China. The transaction will be effected by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement").
 
 The Arrangement values Bankers at approximately C$575 million before the assumption of the outstanding indebtedness of Bankers.
Highlights
Published: 21 March 2016
Written by Editor
M & A   Up on News  
Read more: Bankers Petroleum Ltd ( BNK )

Blackbird Energy Inc. Announces 522% Increase in Elmworth Montney Proved Plus Probable Reserves Volumes and Reports Results from Its Annual and Special Meeting of Shareholders

 

CALGARY, ALBERTA--(Marketwired - March 8, 2016) -Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is pleased to announce a 522% increase in proved plus probable reserves volumes. Blackbird's reserves as at January 31, 2016 were evaluated by the Company's independent reserves evaluators, GLJ Petroleum Consultants ("GLJ").

Highlights of Blackbird's January 31, 2016 reserves evaluation compared to Blackbird's July 31, 2015 reserves evaluation are as follows:

Approach Resources Inc. Reports Third Quarter 2015 Results

FORT WORTH, Texas-- Approach Resources Inc. (AREX) today reported results for third quarter 2015. Highlights for third quarter 2015 include:

Record quarterly production of 1,525 MBoe, or 16.6 MBoe/d, a 17% increase over the prior-year quarter and a 10% increase over second quarter 2015
EBITDAX was $30.7 million, or $0.76 per diluted share
Revenues totaled $33.9 million. Including realized hedge gains, revenues were $46.7 million
Per-unit cash operating expenses decreased 18% from the prior-year quarter, and 5% from second quarter 2015, to $10.45 per Boe
Adjusted net loss was $5.9 million, or $0.14 per diluted share
Average IP for wells completed since last update was 931 Boe/d (65% oil and 84% liquids)

Published: 04 March 2016
Written by Editor
Nasdaq   Financial Results   Up on News  
Read more: Approach Resources Inc ( AREX )

Encana Reports Strong 2015 Operating Performance and Reduces Planned 2016 Capital Investment by Around 55 Percent Year-Over-Year

CALGARY, AB --(February 24, 2016) - Encana(ECA.TO) (ECA.TO)

Encana took decisive steps in 2015 to further strengthen its balance sheet by significantly lowering debt, increasing its financial flexibility and liquidity and aggressively driving down costs. The company focused its 2015 capital investment on its core four assets, the Permian, Eagle Ford, Duvernay and Montney, which exceeded their combined fourth quarter production target. Highlights in 2015 include:

  • fourth quarter production from the core four assets totaled 274,400 barrels of oil equivalent per day (BOE/d), up 35 percent from the fourth quarter of 2014 and exceeding target of 270,000 BOE/d
  • fourth quarter total liquids production of 145,000 barrels per day (bbls/d), up 36 percent from the fourth quarter of 2014
    Published: 24 February 2016
    Written by Editor
    TSX   Financial Results   Up on News  
    Read more: Encana Corporation ( ECA )
  1. Saturn Minerals Inc ( SMI )
  2. Superior Drilling Products Inc ( SDPI )
  3. Blackbird Energy Inc ( BBI )
  4. Memorial Production Partners LP ( MEMP )
  5. Trican Well Service Ltd ( TCW )