CALGARY, ALBERTA--(Marketwired - June 21, 2016) - PetroShale Inc. ("PetroShale" or the "Company") (TSX VENTURE:PSH) (OTCQX:PSHIF) is pleased to announce the lender to its senior secured revolving credit facility (the "Senior Facility") has re-affirmed the current borrowing base capacity at US$22.5 million following its review of the Company's year end independent reserve report. The Senior Facility is a revolving demand loan provided by a Canadian chartered bank, with a term to June 16, 2017, [Read more]
Archives for 2016
Athabasca Oil Corporation Reports Voting Results of Election of Directors
CALGARY, ALBERTA--(Marketwired - June 21, 2016) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or the "Company") announces that at its annual general meeting of shareholders held on June 21, 2016, each of the six nominees proposed and recommended by the Company as a director were elected along with the appointment of Ernst & Young LLP as auditors. The Company has been made aware that one large individual shareholder, working alone or jointly and in concert with others, appears to [Read more]
Twin Butte Announces Extension of Credit Facilities
CALGARY, June 21, 2016 /CNW/ - (TSX: TBE) – Twin Butte Energy Ltd. ("Twin Butte" or the "Company") announces that its bank syndicate has agreed to extend the maturity date of Twin Butte's $85 million non-revolving credit facility by one day from June 21, 2016 to June 22, 2016 and the expiry of the revolving period of Twin Butte's $140 million revolving credit facility by one day from June 21, 2016 to June 22, 2016 to enable the Company to continue with its strategic alternatives process. As [Read more]
Zargon Oil & Gas Ltd. Announces Renewal of Credit Facilities
CALGARY, ALBERTA--(Marketwired - June 21, 2016) - Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") has renewed and extended its committed syndicated credit facilities with a borrowing base of $70 million, down from $88 million. The credit facilities are now fully revolving until September 22, 2016, with the provision for a nine month extension at the option of the lenders and upon request from Zargon. This reduced borrowing base compares with Zargon's outstanding bank debt of $64.6 [Read more]
Encana Reaches Agreement to Sell Gordondale Assets for C$625 Million
CALGARY, AB--(Marketwired - June 21, 2016) -(TSX: ECA)(NYSE: ECA) Encana Corporation announced today that it has reached an agreement to sell its Gordondale assets in northwestern Alberta to Birchcliff Energy Ltd. (TSX: BIR) for a total cash consideration of C$625 million. The sale includes approximately 54,200 net acres of land and associated infrastructure. In addition, through the transfer of current and future obligations, Encana is reducing midstream and downstream commitments by more [Read more]
Veresen Announces Common Share Dividend for June 2016
CALGARY, ALBERTA--(Marketwired - June 21, 2016) - Veresen Inc. ("Veresen") (TSX:VSN) announces that its Board of Directors has declared a cash dividend for June 2016 of $0.0833 per common share. The dividend will be paid on July 22, 2016 to shareholders of record at the close of business on June 30, 2016. This dividend is designated an "eligible dividend" for Canadian income tax purposes. The dividend is eligible to be reinvested by shareholders, at a 5% discount, in common shares of [Read more]
Penn West Announces Competition Act Clearance to Complete Sale of Saskatchewan Assets
CALGARY, June 21, 2016 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE.BC) ("Penn West", "we", "us" or "our") is pleased to announce that a notice has been issued under the Competition Act by the Commissioner of Competition granting clearance to Penn West and Teine Energy Ltd. to complete the previously announced sale of all of Penn West's Saskatchewan assets, including its Dodsland Viking area, for cash consideration of $975 million, subject to normal closing adjustments. This [Read more]
Marksmen Announces Drilling of Oil Well in Pickaway County, Ohio
CALGARY, ALBERTA--(Marketwired - June 21, 2016) - Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH)(OTCQB:MKSEF) is pleased to announce that Marksmen, as operator, and its joint venture partner Houghton Investments LLC., drilled a discovery well at its Pickaway County, Ohio, Davis-Holbrook #1 well location on a large Cambrian Knox target outlined by Marksmen's 3D Seismic programs. The discovery well was spudded on June 14, 2016. The well which had a projected total depth of [Read more]
Licensee Eligibility – Alberta Energy Regulator Measures to Limit Environmental Impacts Pending Regulatory Changes to Address the Redwater Decision
On May 19, 2016, the Alberta Court of Queen’s Bench issued its decision in a matter involving a dispute between the receiver of Redwater Energy Corporation (Grant Thornton Limited), the Alberta Treasury Branches, the Alberta Energy Regulator (AER), and the Orphan Well Association (OWA) (the Redwater decision). The Court found that receivers and trustees of AER licensees may selectively disclaim unprofitable assets (and their associated abandonment and reclamation obligations) under section [Read more]
Enbridge getting cleanup equipment just in case of oil spill
TRAVERSE CITY, Mich. - A Canadian company that owns twin oil pipelines in the area where Lakes Huron and Michigan converge said Monday it will spend $7 million over the next two years on additional equipment that could be deployed quickly in the event of a spill, while insisting prospects are remote that it ever will be needed there. Enbridge Energy, based in Calgary, Alberta, said its purchases would include skimming and containment devices that would help crews recover oil quickly in [Read more]
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