CALGARY, ALBERTA--(Marketwired - Feb. 24, 2016) - In 2015, PHX Energy (TSX:PHX), like other providers in the oil and natural gas service sector, suffered a significant decline in the demand for its services due to very weak commodity prices that negatively affected the industry's capital spending and drilling activity. In the fourth quarter of 2015 consolidated revenue decreased by 63 percent to $56.1 million compared to $152.9 million in the comparable 2014-quarter. Consolidated [Read more]
Archives for February 2016
Boulder Energy Ltd. Announces Going-Private Transaction Led by ARC Financial Corp.
CALGARY, ALBERTA--(Marketwired - Feb. 24, 2016) - BOULDER ENERGY LTD. ("Boulder" or the "Company") (TSX:BXO)(OTCQX:BLLDF) is pleased to announce that it has entered into a definitive arrangement agreement (the "Arrangement Agreement"), pursuant to which a newly formed portfolio company ("ARC AcquisitionCo") of ARC Energy Fund 8 will acquire all of the issued and outstanding common shares of Boulder ("Boulder Shares") for cash consideration of $2.59 per share (the "Transaction"). ARC Energy Fund [Read more]
Sunoco Logistics Announces Fifth Consecutive Year of Record Distributable Cash Flow and Record Full Year Earnings
NEWTOWN SQUARE, Pa.--(BUSINESS WIRE)--Sunoco Logistics Partners L.P. (NYSE: SXL) (the "Partnership") today announced results for the fourth quarter 2015. Adjusted EBITDA for the three months ended December 31, 2015 was $317 million, an $80 million increase compared to the fourth quarter 2014. Net income attributable to partners for the fourth quarter 2015 was $25 million ($0.21 loss per limited partner unit, diluted), compared to a net loss attributable to [Read more]
Spartan Energy Corp. Announces $75 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Feb. 24, 2016) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce that it has entered into a bought deal financing agreement with a syndicate of underwriters led by Peters & Co. Limited. Spartan will issue 31,122,500 common shares of the Company ("Common Shares") at a price of $2.41 per Common Share for gross proceeds of $75 million (the "Offering"). The underwriters will have an option to purchase up to an additional 15% of [Read more]
Suncor Energy appoints new member to Board of Directors
CALGARY, ALBERTA--(Marketwired - Feb. 24, 2016) - Jim Simpson, Chair of the Board of Directors of Suncor, is pleased to announce the appointment of Patricia M. Bedient to the company's Board of Directors. Ms. Bedient's appointment is effective immediately. "Ms. Bedient's strong financial and strategic planning background will be an asset to our board," said Mr. Simpson. "I am looking forward to working with her and the rest of the Board in continuing to deliver on our commitments to [Read more]
Enbridge raises $2 billion in financing, with aim of paying down short-term debt
CALGARY - Pipeline giant Enbridge Inc. (TSX:ENB) has announced an agreement to raise $2 billion by selling its own shares, the proceeds of which will go toward paying down short-term debt.Enbridge and a group of Canadian and U.S. banks have agreed to issue 49.14 million shares on a bought-deal basis.In a bought deal, banks team up to buy a chunk of stock from a company, usually at a discount.The banks, or "underwriters," are then responsible for selling those shares to investors.Enbridge's [Read more]
Breitburn Energy Partners Declares Monthly Distributions for Preferred Units
LOS ANGELES--(BUSINESS WIRE)--Breitburn Energy Partners LP (NASDAQ:BBEP) announced today distributions for its 8.25% Series A Cumulative Redeemable Perpetual Preferred Units (NASDAQ: BBEPP) and 8% Series B Perpetual Convertible Preferred Units. A cash distribution of $0.171875 per Series A Unit is payable on April 15, 2016, to record holders of its Series A Units at the close of business on March 31, 2016. This monthly distribution is equal to an annual [Read more]
More inclement weather predicted for Ottawa: Enbridge Gas Distribution Reminds Customers to Stay Safe by Keeping Natural Gas Meters, Regulators and Exhaust Vents Clear of Snow and Ice
OTTAWA, ONTARIO--(Marketwired - Feb. 24, 2016) - Environment Canada has predicted 15 to 20 mm of freezing rain for Ottawa and the surrounding regions. Further, it has warned of significant ice buildup on exposed structures. Enbridge Gas Distribution Inc. (Enbridge) is reminding customers to clear the snow off their natural gas meter and appliance exhaust vents. Natural gas meter sets should be kept free of ice and significant snow accumulation. Appliance vents, if plugged by ice or snow, [Read more]
Energy Transfer Equity Reports Fourth Quarter and Full Year Results
DALLAS--(BUSINESS WIRE)--Energy Transfer Equity, L.P. (NYSE:ETE) (“ETE” or the “Partnership”) today reported financial results for the fourth quarter ended December 31, 2015. Distributable Cash Flow, as adjusted, was $343 million for the three months ended December 31, 2015 as compared to $243 million for the same period last year, an increase of $100 million. Distributable Cash Flow, as adjusted, per unit was $0.32 for the three months ended [Read more]
Pengrowth Delivers Strong 2015 Operating Results, Significant Reserves Replacement and Additional Reserves Growth at Lindbergh and Montney Assets
CALGARY, ALBERTA--(Marketwired - Feb. 24, 2016) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) is pleased to announce its financial and operating results for the fourth quarter and the full year 2015, as well as 2015 year end reserves results. Pengrowth achieved strong operational performance, executing and delivering on its commitments despite the challenging environment that persisted in 2015. The Company achieved production on the high end of guidance, despite an 80 percent reduction [Read more]
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