Arcan Resources Ltd.

Arcan announces production has been fully restored following two separate third party pipeline outages during December 2013 and January 2014. Arcan has also completed drilling two of the four wells in its winter drilling program and anticipates all four wells will be drilled during its winter program and be on-stream prior to spring break-up. Arcan [...]

Arcan has completed the disposition of its non-core Virginia Hills asset for gross proceeds of $7.5 million. Proceeds from the sale will be applied directly against the debt on the balance sheet. Arcan also continues to solicit interest for other producing and development properties, which are described in detail in its September 23, 2013, news [...]

Arcan reports that production and reserves remained stable. The third quarter financial metrics illustrate Arcan's progress towards bringing capital spending within cash flow while delivering consistent results. Arcan expects to achieve its 2013 production target of 3,800 to 4,000 barrels of oil equivalent per day and capital spending of $40.8 [...]

Arcan has engaged RBC Capital Markets and Scotia Waterous Inc. as its financial advisors to examine the sale of certain light oil, early-stage properties in the Swan Hills region of Alberta. "Over the past four years we have focused on efficiently developing these light oil reservoirs and we are now looking to capture a return that will help [...]

Arcan announces its financial and operating results for the three and six-month periods ended June 30, 2013. Results on key metrics are in line with earlier guidance. Given the current economic climate and the state of the capital markets, Arcan plans to reduce capital spending and evaluate asset sales for the second half of 2013 in order to pay [...]