CALGARY, ALBERTA--(Marketwired - Sept. 1, 2016) - HIGHLIGHTS Enbridge Inc. ("Enbridge" or the "Company") announced its affiliate will withdraw regulatory applications pending with the Minnesota Public Utilities Commission associated with the Sandpiper project Enbridge Energy Partners, L.P. ("EEP") plans to defer implementation of Sandpiper beyond the Company's current five-year planning horizon The Company has negotiated a tentative joint funding arrangement with EEP through which [Read more]
Archives for September 2016
Prudent hedging strategies help multiple stakeholders address oil price volatility
Understanding crude oil future contracts is critical to having a clear view of oil business economics. Discussion involving NYMEX contracts or European ICE futures is found not only indaily media reports, but also the most pragmatic of economic analysis. Understanding what futures contracts are, how they work, and why they are used yields profound insight into one of the world's most important commodities. This article will begin with a look at the mechanics of the futures contract, followed by [Read more]
Zargon Oil & Gas Ltd. Announces the Closing of the Sale of Southeast Saskatchewan Assets for $89.5 Million
CALGARY, ALBERTA--(Marketwired - Sept. 1, 2016) - Zargon Oil & Gas Ltd. (the "Company" or "Zargon") (TSX:ZAR)(TSX:ZAR.DB) announces the closing of the sale of all of its Southeast Saskatchewan assets for cash consideration of $89.5 million. The effective date of the transaction is July 1, 2016. The proceeds of this transaction have initially been used to eliminate Zargon's bank debt. As outlined below, Zargon's net debt (including debentures) will be approximately $35.5 million following [Read more]
Alberta August 31 Landsale Best of the Year at $16.56 Million
The August 31st Alberta land sale brought in $16.56 million, which is enough to make this the highest earning sale for 2016. This just edged out the previous high sale which was $16.1 million on June 22. There were a total of 64 parcels with acceptable lease bids for this sale and the cumulative total for all 2016 land sales now stands at $110.7 million. The chart below illustrates the trend of the Alberta land sale results for all of 2016 and also shows the running total for the [Read more]
TORC Oil & Gas Announces Closing of Strategic Acquisition in Southeast Saskatchewan
CALGARY, September 1, 2016 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG) is pleased to announce the closing of the previously announced complementary asset acquisition in southeast Saskatchewan. The strategic acquisition includes 1,120 boepd (~95% light oil and liquids) of low decline, high netback, light oil producing assets. In conjunction with the acquisition, TORC completed an $86 million bought deal public offering and a $25 million private placement with its [Read more]
Birchcliff Energy Ltd. Announces Quarterly Preferred Share Dividends
CALGARY, ALBERTA--(Marketwired - Sept. 1, 2016) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) today announced that its Board of Directors has declared the following dividends on its outstanding preferred shares: a quarterly cash dividend of $0.50 per share for the calendar quarter ending on September 30, 2016, on Birchcliff's outstanding Cumulative [Read more]
Saudis Are Sick Of Cheap Oil, Losing Billions Of Dollars
Saudi Arabia is facing internal pressure to cut oil production to boost prices after two years of a crude price war they started. “The Saudis are going to Algeria for a freeze,” a source within OPEC told Reuters. “More and more ministers are now talking among themselves to evaluate their production position.” The Kingdom embarked on a policy of increasing production in 2014 to keep oil prices low and push out high-cost producers, like Venezuela and Nigeria. The Saudis also likely refused to cut [Read more]
Bonterra Energy Corp. Confirms Cash Dividend for August 2016 Payable September 30th, 2016
CALGARY, ALBERTA--(Marketwired - Sept. 1, 2016) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) announces that the August 2016 monthly cash dividend will be $0.10 per share and will be paid on September 30th, 2016. The record date for the dividend is September 15, 2016 and the ex-dividend date is September 13, 2016. The dividend is paid monthly and is subject to commodity prices and production levels. The dividend is considered an "eligible dividend" for tax purposes. [Read more]
Sunshine Oilsands Ltd.: Extension of Closing of Private Placement Under the General Mandate
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - Sept. 1, 2016) - The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) wishes to announce the following: EXTENSION OF CLOSING DATE FOR PRIVATE PLACEMENT UNDER GENERAL MANDATE Reference is made to the announcements of the Corporation dated March 16, 2016, April 28, 2016, May 16, 2016, June 22, 2016 and July 4, 2016 (all Hong Kong time) (collectively, the "Announcement") in relation [Read more]
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