Canada Is Open To Future Acquisitions By Chinese Energy Companies

Rigzone is reporting:

Canada is open to future acquisitions by Chinese energy companies, its trade minister said, in a clear signal Ottawa wants deeper ties with Beijing despite controversy over CNOOC Ltd.'s recent acquisition of Canada's Nexen Inc.

Canadian trade minister Ed Fast said Tuesday during a visit to Beijing that Canada was one of the world's most open investment destinations, and that it was committed to diversifying resource exports away from heavy reliance on the U.S.

And more:

Energy ties between Canada and China have come increasingly into the spotlight in recent months. That is particularly so as the Obama administration deliberates whether to approve the proposed Keystone XL oil pipeline, which would carry heavy crude from Canada's Alberta province to U.S. Gulf Coast refineries.

U.S. President Barack Obama rejected a version of the pipeline in early 2012 on environmental grounds, and a decision by the administration on a revised proposal is expected this summer.

Mr. Fast said Canada would press ahead with diversifying exports away from the U.S. regardless of the Obama administration's eventual decision on the pipeline, but said Keystone's approval would be important to shoring up North American energy security

Alaska Lowers Oil Production Taxes --

Rigzone is producing.

The tax cut will benefit energy companies that are active on Alaska's North Slope, such as BP PLC, ConocoPhillips and Exxon Mobil Corp.

"The changes to Alaska's severance tax create an environment that ConocoPhillips believes should lead to increased investment and additional production," a spokeswoman for Houston-based ConocoPhillips said Monday.

The oil companies had complained that the higher tax rate, established by former Gov. Sarah Palin, made Alaska less attractive for investment than other regions, such as North Dakota.

The linked article provides more specifics. 

For Investors Only: CSX Beats

From Yahoo!In-Play:

4:08PM CSX beats by $0.05, beats on revs; CSX increases quarterly dividend 7% to $0.15 per share, announces new share buyback: Reports Q1 (Mar) earnings of $0.45 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.40; revenues fell 0.3% year/year to $2.96 bln vs the $2.92 bln consensus. CSX announces new share buyback program, targets $1 billion over 24 months.

Director's Cut: April 16, 2013, For The Month of February, 2013

New production numbers are preliminary and subject to revision.

New all-time high for production: 778,176 bopd -- compare to January: 737,787 bopd. That's a five percent increase.

The number of producing wells is also at a new all-time high: 8,492

Permitting:

• March: 218
• February: 185
• January: 218

Comments:

The number of completions is well above the threshold needed to maintain production so oil production rate rose sharply, up 5.6%. The number of well completions doubled in February, over January, to 170.

The NDIC estimates that at the end of January there were about 375 wells waiting on completion.

One can find the Director's Cut at the NDIC home page.

Wells Coming Off The Confidential List Wednesday; BR With a 2-Acre Unit Gusher;

Wells coming off the confidential list on Wednesday:

• 22090, 1,085, G3 Operating, Fort Berthold 152-93-17C-08-4H, Four Bears, t1/13; cum 25K 2/13;
• 23491, 32, Surge, Scandia 2S SENE 34 03 SENW 35H, Souris, a nice Spearfish well, t12/12; cum 8K 2/13
• 23623, drl, Abraxas, Lillibridge 20-17-2H, Pershing,
• 23665, 2,525, BR, Kummer 11-30MBH, Blue Buttes, 2-section spacing; t3/13; cum--
• 23838, drl, BR, Waterton 21-29TFH, Keene

***************************

22090, see above, G3 Operating, Fort Berthold 152-93-17C-08-4H, Four Bears:

Date	Oil Runs	MCF Sold
2-2013	19090	0
1-2013	5591	0

23491, see above, Surge, Scandia 2S SENE 34 03 SENW 35H, Souris:

Date	Oil Runs	MCF Sold
2-2013	2627	0
1-2013	2895	0
12-2012	2661	0