PHOENIX--(BUSINESS WIRE)--Freeport-McMoRan Inc. (NYSE: FCX) announced today that it has completed the previously announced sale of its onshore California properties to Sentinel Peak Resources California LLC for $592 million in cash, before closing adjustments. Under the terms of the agreement, FCX has the right to receive additional proceeds of $50 million per annum in each of 2018, 2019 and 2020 if the price of Brent crude oil averages $70 per [Read more]
Archives for December 2016
Canadians need Reasonable Development Projects
The rejection of major development projects is producing economic harm for all Canadians and undermining the reputation of Canada as an attractive place to invest. Many Canadians appear to be oblivious to the personal and national harm caused by the rejections and protracted delays that have become a feature of our regulatory process and associated political second-guessing. Sadly rejection and protracted delays inflict real, not abstract or theoretical, consequences including higher [Read more]
Ridgeback completes Lightstream takeover, prepares for 2017 under new identity
CALGARY - Lightstream Resources Ltd. is preparing to enter the new year with a new identity and owners but the same management team following the sale of the Calgary-based company's oil and gas assets to its creditors. Ridgeback Resources Inc. officially takes over the Lightstream business on Jan. 1, following a court-supervised sale process that closed Friday. Its creditors received shares in the new firm based on how much Lightstream debt they held. The companies say [Read more]
Vector Resources Inc. and Razor Energy Corp. Execute Arrangement Agreement in Respect of Business Combination and Announce Strategic Acquisition
CALGARY, ALBERTA--(Marketwired - Dec. 29, 2016) - Vector Resources Inc. ("Vector") (NEX:VCR.H) and Razor Energy Corp. ("Razor") are pleased to announce that they have entered into an arrangement agreement dated December 29, 2016 pursuant to which Vector and Razor will complete a business combination (the "Proposed Transaction"). Pursuant to the Proposed Transaction, each common share of Razor ("Razor Share") will be exchanged for 2,042.13 common shares of Vector ("Vector Shares"). The Proposed [Read more]
Lightstream Announces Closing of Asset Sale to Ridgeback Resources
CALGARY, ALBERTA--(Marketwired - Dec. 29, 2016) - Lightstream Resources Ltd. (the "Company" or "Lightstream") announces that further to our press release dated December 8, 2016, the previously announced sale of substantially all of the assets and business of the Company (the "Sale Transaction") to Ridgeback Resources Inc. ("Ridgeback") closed today. The Sale Transaction represents the outcome of the sale process carried out by the Company as part of its restructuring proceedings under the [Read more]
Blacksteel Energy Inc. Announces Warrant Extension
CALGARY, ALBERTA--(Marketwired - Dec. 29, 2016) - Blacksteel Energy Inc. (TSX VENTURE:BEY) ("Blacksteel" or the "Corporation") is pleased to announce that it has received conditional approval from the TSX Venture Exchange ("TSXV") to extend the expiry term of 5,120,910 common share purchase warrants (the "Warrants") issued as part of its 2013 private placement. This amendment represents the seventh amendment made for the Warrants. The original expiry date of the Warrants was July 31, 2014 at [Read more]
Panhandle Oil and Gas Inc. Sets Annual Shareholder Meeting Date And Revises Dividend Record Date
OKLAHOMA CITY, Dec. 29, 2016 /PRNewswire/ -- PANHANDLE OIL AND GAS INC. (NYSE: PHX) announced that its Board of Directors, at its Dec. 9, 2016, meeting, set the date of its annual meeting of shareholders for Wednesday, March 8, 2017. The meeting will be held at The Oklahoma History Center, 800 Nazih Zuhdi Drive (N.E. 23rd & Lincoln Blvd.), Oklahoma City, Okla., at 1:30 p.m. local time. Shareholders of record at the close of business on Jan. 20, 2017, will be entitled to vote at the meeting. In [Read more]
With blueprints done, Notley set to take hammer, saw to Alberta economy in 2017
EDMONTON - The blueprints are completed, so Alberta Premier Rachel Notley will begin hammering and sawing away at Alberta's energy base and economy in the coming year, in some cases stripping it down to the studs. "I reserve my right to come out with a couple of extra things, but I think at this point you've seen the majority of (the plan)," Notley said in a year-end interview with The Canadian Press. "Now it's about implementing and executing." They're changes that [Read more]
Marquee Energy Ltd. Announces Closing of $2.8 Million Bought Deal Private Placement of Flow-Through Shares and Provides a Corporate Update
CALGARY, AB--(Marketwired - December 29, 2016) - Marquee Energy Ltd. ("Marquee" or the "Corporation") (TSX VENTURE: MQX) Marquee Energy Ltd. ("Marquee" or the "Corporation") (TSX VENTURE: MQX) is pleased to announce that it has closed its previously announced private placement of 14,705,883 common shares issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.17 per Flow-Through Share for gross proceeds of $2.5 million (the [Read more]
BOE Report’s most influential story of 2016
The BOE Report's most read and by far most influential story of 2016 was written by none other than Terry Etam: Saudi oil filling a New Brunswick refinery – what kind of a domestic energy policy is that? - published on January 25th. To date, the article was read 125,000 times and shared on social media over 50,000 times. It was, by far, Canada's most shared business story that day. The crux of the article and what undoubtedly struck a chord in so many readers, was Etam's ability to [Read more]
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