HOUSTON - The number of rigs exploring for oil and natural gas in the U.S. dropped 14 this week to 450, another all-time low amid continuing energy industry price woes.A year ago, 1,028 rigs were active.Houston oilfield services company Baker Hughes Inc. said Friday 362 rigs sought oil and 88 explored for natural gas.Among major oil- and gas-producing states, Texas lost five rigs and Oklahoma four. California, North Dakota and Oklahoma each dropped two while Alaska, Kansas and Pennsylvania [Read more]
Archives for April 2016
Pengrowth Energy Corporation and Frog Lake Energy Resources Corp Enter Into a Sale Leaseback Agreement for Co-Generation Facilities at Lindbergh
CALGARY, ALBERTA--(Marketwired - April 1, 2016) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) and Frog Lake Energy Resources Corp. (FLERC) today announced an agreement for the sale and leaseback of the co-generation facilities at Pengrowth's Lindbergh thermal oil project in Cold Lake Alberta. Under the terms of the agreement, FLERC has made an investment of Cdn $35 million and will own and leaseback the co-generation facilities. The length of the agreement is for a period of 20 years and [Read more]
Wall talks up plan with First Nations for solar, flare gas power if re-elected
REGINA - Premier Brad Wall is burning up the last few days of the Saskatchewan election by talking about clean power.Wall says the Saskatchewan Party would work with the First Nations Power Authority to develop 20 megawatts of solar power and 20 megawatts of flare gas energy, if the party's re-elected on Monday.The power authority says several First Nations could finance the solar project together and then the province would buy the power.The Flying Dust First Nation, near Meadow Lake, will take [Read more]
Anderson Energy Announces the Voting Results of a Special Meeting of Its Series B Debentureholders, its Annual and Special Meeting Date for Common Shareholders and a Proposed Share Consolidation
CALGARY, ALBERTA--(Marketwired - April 1, 2016) - Anderson Energy Inc. (the "Company") (TSX:AXL) announces that at a meeting today, the holders of the 7.25% Series B convertible unsecured subordinated debentures due June 30, 2017 (the "Series B Debentures") voted on and passed an extraordinary resolution pursuant to which all of the Series B Debentures ($46.0 million) and the interest that would otherwise accrue on the Series B Debentures to June 30, 2016 ($1.67 million) will be settled and all [Read more]
Saudi Arabia will only freeze oil production if Iran joins
Saudi Arabia will only freeze its oil output if Iran and other major producers do so, the kingdom’s deputy crown prince said, challenging the country’s main regional rival to take an active role in stabilizing the over-supplied global crude market. The warning by Mohammed bin Salman, 30, who’s emerged as Saudi Arabia’s leading political force, leaves the outcome of a meeting between OPEC and other big oil producers this month in question. Iran has already said it plans to boost its production [Read more]
Cenovus Energy says it’s cutting 440 jobs as low oil prices continue
CALGARY - Cenouvs Energy is slashing 440 jobs as part of its previously announced cost-cutting plans due to low oil prices.Spokesman Brett Harris says Cenovus has already cut 190 mostly contractor positions, while an additional 250 people from its Calgary head office and field operations will go in the coming weeks.The oil and gas producer said in February that it was aiming to cut operating and administrative costs by $200 million this year, in part through workforce reductions as well as lower [Read more]
TransCanada Corporation Announces Closing of $4.4 Billion Subscription Receipts Offering
CALGARY, ALBERTA--(Marketwired - April 1, 2016) - News Release - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Corporation) today announced that it has completed its previously announced bought deal offering (the Offering) of subscription receipts (the Subscription Receipts). On March 17, 2016, the Corporation entered into an agreement with a syndicate of underwriters (the Underwriters), led by RBC Capital Markets and TD Securities Inc., under which they agreed to purchase [Read more]
Marksmen Announces Proposed Private Placement
CALGARY, ALBERTA--(Marketwired - April 1, 2016) - Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH)(OTCQB:MKSEF) announces that, further to its previous press releases, it does not intend to complete any additional closings of its previously announced non-brokered private placement of up to 10,000,000 common shares (the "Common Shares") of Marksmen at a price of $0.08 per share for aggregate gross proceeds of up to $800,000. The Company further announces that it intends to [Read more]
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