Palliser Oil & Gas Corp. (TSXV:PXL) announced that during the first quarter of 2012 it expanded its undeveloped heavy oil land position to 19,618 net acres, an eight percent increase from the previous quarter.
Imperial Petroleum Inc. (OTCQX:IPMN) announced that it is now able to move forward with its Kentucky joint venture project, an oil recovery system that the company President has described as revolutionary.
Baytex Energy Corp. (TSX:BTE,NYSE:BTE) announced that its operating and financial results for the first quarter of 2012 include an increase in heavy oil production.
Reuters reported that refinery incidents in the US and Canada have contributed to a drop in Canadian heavy oil prices by heightening the effects of an already oversupplied market.
Reuters reported that unscheduled maintenance on a processing unit at Imperial Oil Ltd.’s (TSX:IMO) Sarnia, Ontario refinery is pressuring Canadian heavy oil prices.
Guide Exploration Ltd. (TSX:GO) announced that its financial results for the first quarter of 2012 include an increase in heavy oil production.
Reuters reported Canadian Natural Resources (NYSE:CNQ) 2012 first-quarter profit skyrocketed 9 times after light and heavy oil sales surged 5%.
Condor Petroleum Inc. (TSX:CPI) reported on its operational activities at the Zharkamys West 1 Contract Territory and the Marsel Contract Territory in Kazakhstan.
Reuters Africa reported Pemex’s first quarter profit surged 33.9 billion Mexican pesos ($2.65 billion).
Marathon Petroleum Corporation (NYSE:MPC) announced its 2012 first quarter net income of $596 million.
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