Encana Selling More Assets, Sharpening Focus on Oil and Gas

Encana Selling More Assets, Sharpening Focus on Oil and Gas

Last week, Encana announced the sale of its Bighorn natural gas assets in Alberta to Jupiter Resources for $1.8 billion. Today, CEO Doug Suttles said that Encana will be selling more assets in order to further hone its focus on oil and gas.

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INN VIDEO: Keith Schaefer on High-risk Junior Oil and Gas Plays

At PDAC 2013, Keith Schaefer, editor and publisher of Oil & Gas Investments Bulletin, spoke with INN Editor Vivien Diniz about why junior oil and gas explorers are being pushed into frontier regions, why condensate is important and why oil prices are going to drop this year.

Company News

Super Nova Petroleum Announces New President and COO

Super Nova Petroleum Announces New President and COO

Super Nova Petroleum Corp., (CSE:SNP,PINKSHEETS:SNOVF) announced the appointment of Ben Chu as its new President, COO and director. Mr. Chu has extensive experience in the oil industry, and is tasked to lead Super Nova’s technical team of consultants and become an important member of the Company's management team.

Blackbird Energy Announces Farm Out Agreement at Mantario Oil Project

Calgary, Alberta (TSXV:BBI) Blackbird Energy Inc. has entered into a Farmout Agreement with a private oil and gas investment company in order to drill the first two horizontal wells at Blackbird's Mantario Oil Project. Additionally, Blackbird gave an update on its operations regarding its Elmworth Montney Acreage.

Letho Resources Signs LOI with Stream Oil and Gas

Letho Resources Corp. (TSXV:LET) has signed a Letter of Intent with Stream Oil & Gas Ltd. whereby Letho has agreed to loan Stream up to C$5,000,000 which loan will be supported by the issuance of a convertible debenture to Letho. Subject to TSX Venture Exchange approval and entry into a definitive agreement, Letho will advance the loan in two separate tranches, with the first tranche amounting C$2.0 million and the second tranche amounting to C$3.0 million. The dates on which both tranches will be advanced are to be set out in the definitive agreement.

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Company Videos

INN Video: Chris Cooper of Aroway Energy Inc.

Aroway Energy (TSXV:ARW,OTCQX:ARWJF) President & CEO Chris Cooper spoke with Resource Investing News about its unique position in the oil and gas space.

Market News

Oil Exploration Shifting to More Developed Countries for More Predictable Returns

The Wall Street Journal reported today that big companies are shifting towards more developed nations for their oil and gas exploration projects. For companies like Shell (NYSE:RDS.A) and Exxon Mobil (NYSE:XOM), higher costs and tighter regulations are balanced by the benefit of political stability, according to the Journal.

Oil Price Up Thursday on News of Malaysian Plane Crash

The Wall Street Journal reported that oil prices jumped this Thursday following news that a Malaysia Airlines passenger plane had crashed in Eastern Ukraine. Additionally, Israel sent soldiers into the Gaza Strip, further bolstering oil, which reached its highest price in more than a week, according to the Journal.

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