A Vancouver native, Charlotte recently graduated from Simon Fraser University, where she majored in English and Humanities. During her time there, SFU’s Writing and Communications program caught her attention, and she began working towards a Certificate in Editing. After completing an editorial internship at Vancouver’s Western Living magazine in the fall of 2010, she knew that she wanted to pursue editing further.
Charlotte is excited to have joined the Investing News Network as an editorial assistant, and looks forward to gaining more knowledge about the commodities sector. She plans to complete her certificate in the spring of 2013.
Celtic Exploration Ltd. (TSX:CLT) announced that Canada’s minister of industry has approved the acquisition of Celtic by an ExxonMobil Canada subsidiary. No other regulatory approvals remain.
The BBC reported that the United States has approved CNOOC’s (NYSE:CEO,HKEX:0883) acquisition of Canada’s Nexen (NYSE:NXY,TSX:NXY). The deal has already been okayed by Canadian authorities, so approval from the US means that the path for the sale is now clear.
CBC News reported that increasing costs have not deterred ExxonMobil (NYSE:XOM) and its partners from moving forward with the Newfoundland-based Hebron oil project. They plan to begin construction and fabrication of the Hebron platform and expect first oil to be reached at the end of 2017.
Birch Lake Energy Inc. (TSXV:BLK) and Veraz Petroleum Ltd. (TSXV:VRZ.H) announced that as per an arrangement agreement, Birch Lake will acquire all of Veraz’s issued and outstanding common shares. The transaction must be approved by a variety of entities, including Veraz shareholders, the TSX Venture Exchange and the Court of Queen’s Bench of Alberta, and is expected to close on December 21, 2012.
Bloomberg reported that a director at PT Pertamina, a state-owned Indonesian oil producer, said that Pertamina sent a takeover proposal to Coastal Energy Co.’s (TSX:CEN,LSE:CEO) major shareholders. It is possible that the proposal will cause a bidding war.
Zargon Oil & Gas Ltd. (TSX:ZAR,TSX:ZAR.DB) announced its financial and operating results for the third quarter of 2012, commenting that its oil production fell to 7,634 barrels of oil equivalent from 8,290 during the previous quarter. Its natural gas production declined 12 percent compared to the preceding quarter, averaging 15.33 million cubic feet per day.
Aroway Energy Inc. (TSXV:ARW,OTCQX:ARWJF) announced that it has entered into an agreement to pay $2,769,000 for oil-producing assets from private vendors based in Western Saskatchewan. The acquisition will provide Aroway with an additional 265 barrels of oil per day; it will also wholly own all the surface facilities on 200 acres of land.
Pengrowth Energy Corp. (TSX:PGF,NYSE:PGH) announced that it has increased its Lochend Cardium light oil play land holdings to 44 net sections. Its new assets have a production capability of 650 barrels of oil equivalent per day weighted 95 percent light oil.
Quattro Exploration and Production Ltd. (TSXV:QXP) announced that it has closed the acquisition of a number of oil and gas assets located in Central Alberta. The purchase is part of Quattro’s strategy of focusing on high-quality conventional oil and gas assets in Canada.
Bengal Energy Ltd. (TSX:BNG) announced that it has received initial production testing results from recently-drilled wells at the Australian Cuisinier oil field, commenting that new oil production from three of the four wells totals about 1,800 barrels of oil per day — more than was expected initially.
