While 2008 was a year of two extremes, with oil and gas producers experiencing boom and bust all within 12 months and many responding by cutting their capital spending plans for 2009 anywhere from 25% – 35%, they still continue to plan for the future as per to the Canadian Energy Survey released today by [...]
Top U.S. refiner Valero Energy Corp. has planned to raise $720 million through a share sale this month to bolster its capital spending plans and bankroll acquisitions. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Compton Petroleum Corp. announced that it has sharply cut capital spending for 2009 and revised its average daily production guidance downwards to between 20,500 and 21,500 oil-equivalent barrels per day. For full story, click here
Pyramid Petroleum Inc. today annouced that it is offering a covertible debenture with an interest rate starting at 12% convertible at $0.85 per share. Research Capital Corp. has been named the lead agent and will be targeting to raise between $15 and $20 million.
Capital expenditures in 2008 are estimated to total $450 million, with $184 million spent on exploration and development activities and $266 million spent on property acquisitions. For full story, click here
Capital expenditures in 2008 are estimated to total $450 million, with $184 million spent on exploration and development activities and $266 million spent on property acquisitions. For full story, click here
Baytex achieved high capital efficiencies and strong reserve replacement for the fifth consecutive year as an energy trust. Results of this capital program are highlighted by the following investment metrics: For full story, click here
Canadian Seedrock Capital Partners Inc. will be in Tuzla in early September to define conditions with the canton government for oil exploration in the region. Abdulah Basic, a professor of the local mining college, said: The offer the Canadians made was the best – initial EUR 40 million, and exploration work starting in 2009. It was the [...]
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