Wednesday, April 30, 2014

Cenovus Energy Inc. - CVE.t

Cenovus Energy Inc. - CVE.t operates two producing steam-assisted gravity drainage (SAGD) projects in the oil sands – Foster Creek and Christina Lake – as well as several emerging projects, which are in various stages of development.

Foster Creek and Christina Lake are 50 percent owned by ConocoPhillips. The company also produces heavy oil from the mobile Wabiskaw formation at Pelican Lake. Cenovus has a 50 percent interest in their Wood River (Illinois) and Borger (Texas) refineries which Phillips 66 operates.



On April 30, 2014 the company released Numbers

"Cenovus oil sands production climbs 20% in first quarter

• Combined oil sands production at Foster Creek and Christina Lake averaged 120,444 barrels per day (bbls/d) net in the first quarter, up 20% from a year earlier.
• Production at Christina Lake averaged 65,738 bbls/d net in the first quarter, an increase of 48% when compared with the same period a year earlier as phase E approached full production capacity.
• Foster Creek performed at the upper end of Cenovus’s expected production range, averaging 54,706 bbls/d net in the quarter, a slight decrease from the same period a year earlier.
• Cenovus generated nearly $1.2 billion in operating cash flow, a 4% decrease when compared with the same period in 2013, as rising production and higher commodity prices were offset by significantly lower refining margins.
• Cenovus received regulatory approval for its 180,000 bbls/d wholly-owned Grand Rapids oil sands project and plans to move forward with an initial phase of 8,000 to 10,000 bbls/d."
__________________________________









http://pennystockjournal.blogspot.com/2014/04/cenovus-energy-inc-cvet.html


Contact


RSS

Monday, April 28, 2014

Top Luxury Whiskeys of 2014

A prestige spirit possessing a darker quality than other Glenfiddich whiskies, the second vatted 50 Year old goes for a hefty $16,000.

The Highland Park 50 Year Old Single Malt was designed by respected Scottish jeweller, Maeve Gillies, from five kilograms of silver and fashioned to wrap and entwine the bottle – $17,500.
Dalmore 62 Single Hiland Malt Scotch is a single Highland malt Scotch whisky from the Dalmore Distillery in Inverness, Scotland, was one of only twelve bottles produced in 1943 from four single malts dating from 1868, 1876, 1926 and 1939. $ 58,000

The Dalmore 64 Trinitas is elite, exclusive, and everything associated with the term “limited edition”. With only three bottles produced, the price tag is $160,000.
The 105 Year Old Master Of Malt was distilled at the Aisla T’Orten distillery and comes with a price tag that confirms its prestige – $1.4 million.

This English crystal decanter is embellished with 8500 diamonds, boasts a coating of white gold, and is further accentuated by 300 rubies. Isabella’s Islay whiskey tops the list with a $6.2 million price tag.

Painted Pony Petroleum Ltd. - PPY.t

Painted Pony Petroleum Ltd. - PPY.t is engaged in the exploration, development and production of petroleum and natural gas resources.

The Company focuses on light oil in southeast Saskatchewan and central Alberta and natural gas in northeast British Columbia.



On April 9, 2014 the company released News

"Painted Pony Petroleum Ltd. ("Painted Pony" or the "Company") (TSX: PPY) is pleased to provide the following production and operations update. Highlights include:

 exceeded 15,000 barrels of oil equivalent per day (“boe/d”), weighted 86% towards natural gas, in the first week of April 2014, based on field estimates that included 79 million cubic feet per day (“MMcf/d”) of raw natural gas production and 2,050 barrels (“bbls”) per day (“bbls/d”) of crude oil and natural gas liquids (“NGLs”) production;

 increased second quarter 2014 production estimate by 17% to 13,500 boe/d (86% natural gas) from previous estimates of 11,500 boe/d, as a result of better than anticipated well results at Blair and Townsend. This represents increases of approximately 38% over first quarter of 2014 estimated production of 9,750 boe/d and 70% over second quarter 2013 production of 7,928 boe/d;

 increased average annual production estimates for 2014 to 13,000 boe/d, a 50% increase over average production in 2013 of 8,693 boe/d;

 completed start-up of the new 100% working interest 25 MMcf/d natural gas processing facility at Townsend, British Columbia on time and on budget, which is expected to reach full capacity by the end of April 2014. This facility currently has an associated recoverable wellhead condensate yield in excess of 40 bbls/MMcf;”
__________________________________







http://pennystockjournal.blogspot.com/2014/04/painted-pony-petroleum-ltd-ppyt.html


Contact


RSS

Friday, April 25, 2014

Gear Energy Ltd. - GXE.t

Gear Energy Ltd. - GXE.t operates the heavy oil producing areas of Wildmere, Blackfoot and Vermillion.

Heavy oil production in the Maidstone area of Saskatchewan began in 2013



On April 24, 2014 the company released News

" Gear Energy Ltd. ("Gear" or the "Company") (TSX: GXE) is pleased to announce today that it has entered into an agreement to acquire (the "Acquisition") heavy oil assets focused near the Company's core producing areas of Wildmere, Alberta and Maidstone, Saskatchewan (the "Assets").

The Assets include over 2,000 boe per day of high working interest, operated heavy gravity crude oil production (98 percent oil). The purchase price for the Assets is $85 million, payable in cash. The effective date of the Acquisition is March 1, 2014 and the closing of the Acquisition is expected to occur on or about May 1, 2014 (the "Closing").

The Assets fit Gear’s strategy of targeting underexploited, geographically focused production with low risk development locations and simple solutions to increase production value by lowering operating costs. The Assets all produce from heavy oil reservoirs analogous to those that the Gear team have been successfully developing in the area for the past four years.
__________________________________







http://pennystockjournal.blogspot.com/2014/04/gear-energy-ltd-gxet.html


Contact


RSS