BOE Report

Archives for 2016

Range Resources buys Memorial Resource for $3.3 billion

0 Comments

NEW YORK - Range Resources will buy rival natural gas producer Memorial Resource Development for about $3.3 billion to expand its range in the East and in the Gulf.Shareholders of Memorial Resources, based in Houston, will receive 0.375 shares of Range Resources stock for each of their shares. The all-stock deal is valued at about $15.75 per share, marking a 17 per cent premium to its closing price Friday.Range Resources will also assume $1.1 billion in debt.The purchase better positions the [Read more]

Crescent Point Energy Confirms May 2016 Dividend

CALGARY, ALBERTA--(Marketwired - May 16, 2016) - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) (NYSE:CPG) confirms that the dividend to be paid on June 15, 2016, in respect of May 2016 production, for shareholders of record on May 31, 2016, will be CDN$0.03 per share. These dividends are designated as "eligible dividends" for Canadian income tax purposes. For U.S. income tax purposes, Crescent Point's dividends are considered "qualified dividends." [Read more]

Sunshine Oilsands Ltd.: Record Date of the Annual Meeting to be Held on June 30, 2016

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwired - May 16, 2016) - Sunshine Oilsands Ltd. (the "Corporation") (HKSE:2012) hereby announces that its board of directors (the "Board") has approved to convene an annual meeting of the shareholders on Thursday, June 30, 2016 (Hong Kong time) (the "AGM"). The Board has also decided to fix the record date for the determination of the shareholders who are entitled to receive the notice of, and to attend and vote at, the AGM or adjournment thereof, at [Read more]

Sunshine Oilsands Ltd.: Announcement of Results for the First Quarter Ended March 31, 2016, Update on West Ells Progress and Extension of Closing of Private Placements

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwired - May 16, 2016) - Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX:2012) today announced its financial results for the first quarter ended March 31, 2016. The Corporation's consolidated financial statements, notes to the consolidated financial statements and Management's Discussion and Analysis have been filed on SEDAR (www.sedar.com) and with The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") [Read more]

Penn West says low oil, gas prices have pushed it close to debt default

CALGARY - Concerns mounted in the oilpatch after one of Calgary's oldest oil and gas production companies warned Monday it was facing the possibility of defaulting on its debt by the end of next month.Penn West Petroleum Ltd. (TSX:PWT) said it could be in violation of its agreements with its lenders by June 30 if it can't negotiate some form of loan relief.The firm, the latest member of the oilpatch to face a showdown with lenders amid depressed crude prices, said it has hired investment banking [Read more]

Jericho Oil Publishes Annual Letter to Shareholders

VANCOUVER, BC and TULSA, OK--(Marketwired - May 16, 2016) - Jericho Oil Corporation ("Jericho") (TSX VENTURE: JCO) (OTC PINK: JROOF) announces that it has published its Annual Letter to Shareholders from Chairman and CEO, Allen Wilson. The full text of the letter follows: Dear Fellow Shareholders, It was as if we finally completed the five stages of grief and the end of 2015 brought about an acceptance around the exploration & production ("E&P") industry with respect to the price [Read more]

Granite Oil Corp. Announces Credit Facility Update

CALGARY, ALBERTA--(Marketwired - May 16, 2016) - GRANITE OIL CORP. ("Granite") (TSX:GXO)(OTCQX:GXOCF) announces that the annual borrowing base redetermination under its demand credit agreement has been completed and the borrowing base has been set at $60 million, consisting of a $45 million revolving demand credit facility and a $15 million revolving demand operating facility. The new borrowing base is a reduction from the previous amount of $80 million established in November 2015. Currently [Read more]

TransCanada Announces CFIUS Clearance for Columbia Acquisition

CALGARY, ALBERTA--(Marketwired - May 16, 2016) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that the Committee on Foreign Investment in the United States (CFIUS) has notified TransCanada and Columbia Pipeline Group Inc. (NYSE:CPGX) (Columbia) that its investigation of TransCanada's proposed acquisition of Columbia is complete and that there are no unresolved national security concerns. CFIUS clearance satisfies one of the conditions to the closing of the [Read more]

Harvest Operations Announces Exchange Offer and Consent Solicitation

CALGARY, ALBERTA--(Marketwired - May 16, 2016) - Harvest Operations Corp. ("Harvest") today announced the commencement of an offer to exchange (the "Exchange Offer") any and all of its outstanding 67/8% Senior Notes due 2017 (the "Old Notes") for the amount shown in the table below of new 2.33% Guaranteed Notes due 2021 (the "New Notes") issued by Harvest and unconditionally and irrevocably guaranteed (such guarantee, the "Guarantee") by Korea National Oil Corporation ("KNOC"). The New Notes [Read more]

Solstice Engineering: LLR Improvement Made Simple

Solstice Engineering has created an LLR Evaluation Report that assists companies in reducing the liability side of the LLR equation by quickly determining liability reduction opportunities and identifying a licensee’s LLR friendly assets.  Reduction opportunities can often provide increases of 10-20% to an LLR, buying time and providing flexibility. “License Liability Ratings are a hot topic,” reports Clint Nerbas, Solstice Engineering President.  “With commodity prices in decline, licensees [Read more]