CALGARY, May 27, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters to issue, on a bought deal basis, 25,650,000 common shares ("Common Shares") at a price of $9.75 per Common Share for aggregate gross proceeds of approximately $250 million (the "Offering"). Bellatrix has also granted the underwriters an option (the [Read more]
Archives for May 2014
Ottawa to open office in B.C. to woo B.C. First Nations on energy projects
PRINCE RUPERT, B.C. - The federal government will set up a major projects management office in British Columbia to try to woo West Coast First Nations on the myriad of energy projects proposed in the province. Natural Resources Minister Greg Rickford says Ottawa will also establish a forum with the B.C. government and First Nations to work toward aboriginal participation in energy developments. The two measures were recommended in a report last fall by Douglas Eyford (EYE'-ford), appointed [Read more]
Petrolia Completes its Succession Plan
QUÉBEC CITY, QUÉBEC--(Marketwired - May 27, 2014) - Pétrolia (TSX VENTURE:PEA) is pleased to announce the next stage of its succession plan. Mr. Myron Tetreault, currently Chairman of the Board and interim President and Chief Executive Officer has been appointed Executive Chairman of the Board. Mr. Alexandre Gagnon, currently Executive Vice President, has been promoted to President and Chief Executive Officer. These changes complete the implementation of the succession plan initiated in [Read more]
New safety conditions not seen swaying economics of Keystone XL
CALGARY - Additional safety conditions imposed on the Keystone XL pipeline are not expected to hurt the economics of the project, whose price tag is already expected to soar by at least several hundred millions of dollars over earlier estimates."It appears to mean a couple of extra steps on the welding and is it going to make an economic difference? We don't think so," said Steven Paget, an analyst with FirstEnergy Capital in Calgary.According to a report by The Associated Press, the U.S. [Read more]
Federal government urged to hurry up on energy industry regulations
EDMONTON - The Harper government needs to get moving on long-awaited regulations for the oil and gas industry, says the head of the Alberta agency that manages the province's effort to reduce industrial CO2 emissions.Eric Newell of the Climate Change and Emissions Management Corp. says he has a way for Ottawa to put a price on greenhouse gases without mentioning the two words that give federal Conservatives the heebie-jeebies."I'd like to distinguish between a carbon tax — which is universal at [Read more]
Baytex Provides Update on Timing of Closing Aurora Acquisition and Exchange of Subscription Receipts for Common Shares
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) provides an update on the status of its proposed acquisition of Aurora Oil & Gas Limited ("Aurora") pursuant to a scheme of arrangement under Australian law (the "Arrangement"). On May 26, 2014 (in Perth), the Federal Court of Australia made orders approving the Arrangement between Aurora and its shareholders under which Baytex will acquire, through its wholly-owned subsidiary Baytex Energy [Read more]
Spartan Energy Corp. Announces Increase to Bought Deal Financing from $100 Million to $130 Million
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX VENTURE:SPE) is pleased to announce that it has increased its previously announced bought deal financing with a syndicate of underwriters co-led by Peters & Co. Limited, Clarus Securities Inc. and GMP Securities L.P., and including TD Securities Inc., Dundee Securities Ltd., Desjardins Securities Inc., FirstEnergy Capital Corp., AltaCorp Capital Inc., Macquarie Capital Markets Canada Ltd., [Read more]
Oil stays above US$104 as investors scrutinize crises in Ukraine and Libya
The price of oil remained above US$104 a barrel Tuesday as investors weighed how the conflicts in Ukraine and Libya were likely to affect crude supplies.By early afternoon in Europe, benchmark crude for July delivery was down 10 cents to $104.25 a barrel in electronic trading on the New York Mercantile Exchange. Due to a U.S. public holiday, the contract last settled on Friday, when it closed at $104.35.Brent crude, a benchmark for international oils, was down 18 cents to $110.36 on the ICE [Read more]
DeeThree Exploration Announces Completion of $73 Million Prospectus Offering
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - DeeThree Exploration Ltd. ("DeeThree" or the "Corporation") (TSX:DTX)(OTCQX:DTHRF) is pleased to announce that it has completed its previously announced short form prospectus offering (the "Offering"), raising gross proceeds of $73,429,220. The Offering was co-led by Cormark Securities Inc. and Macquarie Capital Markets Canada Ltd., on their own behalf and on behalf of Raymond James Ltd., CIBC, Dundee Securities Ltd., TD Securities Inc., [Read more]
Lightstream Announces New Swan Hills Battery, $98 Million Non-Core Asset Disposition and Provides Updated Guidance
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Lightstream Resources Ltd. ("Lightstream" or the "Company") (TSX:LTS), is pleased to announce that our new Swan Hills battery is operational and that we have entered into an agreement to complete a further non-core asset disposition for gross proceeds of $98 million. In connection with the disposition, we have updated our production guidance for the year. The Swan Hills region of our Alberta/BC business unit has become an area of focus and [Read more]
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