CALGARY, ALBERTA--(Marketwired - March 29, 2017) - Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) ("Cenovus") announced today that it has entered into a bought-deal financing agreement to sell 187.5 million common shares ("Common Shares") at a price of $16.00 per share (the "Offering"). The Offering will be made through a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets and J.P. Morgan. The gross proceeds from the Offering will be approximately $3.0 billion. The Offering is [Read more]
Archives for March 2017
Cenovus to Double Production and Reserves in Canada
CALGARY, ALBERTA--(Marketwired - March 29, 2017) - Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) has agreed to acquire ConocoPhillips' 50% interest in the FCCL Partnership, the companies' jointly owned oil sands venture operated by Cenovus. Cenovus is also purchasing the majority of ConocoPhillips' Deep Basin conventional assets in Alberta and British Columbia. Combined, these assets have forecast 2017 production of approximately 298,000 barrels of oil equivalent per day (BOE/d). The acquisition is [Read more]
National Energy Board Hearing Panel to Review Energy East and Eastern Mainline applications concurrently
CALGARY, March 29, 2017 /CNW/ - A National Energy Board (NEB) Hearing Panel will review the Energy East and Eastern Mainline Pipeline Projects concurrently. After reviewing comments from 11 groups and individuals, the Hearing Panel said that the two project applications are closely interrelated and would be most efficiently assessed through a coordinated approach. The Eastern Mainline Pipeline is a proposal to build approximately 279 kilometres of new gas pipeline and related components, [Read more]
Premier Brad Wall invites Calgary energy companies to relocate to Saskatchewan
CALGARY - Saskatchewan Premier Brad Wall is taking a turf war with Alberta to its economic heart, inviting energy companies based in Calgary to move their headquarters to his province. In a letter to Whitecap Resources (TSX:WCP) dated Monday, Wall offers to subsidize relocation costs, trim taxes and royalties and help find space in unused government buildings if the oil and gas firm moves to Saskatchewan. Wall cites reductions to corporate and personal income taxes promised in [Read more]
Savanna Announces Termination of Arrangement Agreement With Western Energy Services Corp.
CALGARY, ALBERTA--(Marketwired - March 29, 2017) - Savanna Energy Services Corp. ("Savanna") (TSX:SVY) announces it has terminated the arrangement agreement with Western Energy Services Corp. ("Western"), pursuant to which Western had agreed to acquire all of the outstanding common shares of Savanna on the basis of 0.85 of a common share of Western and $0.21 in cash per common share of Savanna. About Savanna Savanna is a leading contract drilling and oilfield services company operating in [Read more]
Western Energy Services Corp. Receives Termination Notice from Savanna
CALGARY, ALBERTA--(Marketwired - March 29, 2017) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Western Energy Services Corp. ("Western") (TSX:WRG) announced today that it has received a notice of termination from Savanna Energy Services Corp. ("Savanna") of the arrangement agreement between Western and Savanna dated March 8, 2017, as amended on March 14, 2017 (the "Arrangement Agreement"). Western is considering what remedies [Read more]
Seminar: Considering renouncing your US citizenship?
Complimentary seminar presented by: Alexander Marino JD, LLM (US TAX) On July 1, 2014, the US’s Foreign Account Tax Compliance Act (FATCA) went into effect, and as a result, it will become increasingly difficult to renounce your US citizenship for the “right reasons” and avoid any negative consequences. All evidence suggests that now may be the time to consider renouncing, however, the process can be complex and daunting. It is essential to ensure that you renounce properly. If not done [Read more]
Harvest Operations Files 2016 Year-End Disclosure Documents
CALGARY, ALBERTA--(Marketwired - March 28, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") announced the filing of its Annual Information Form ("AIF") and its Statement of Reserves Data and Other Oil and Gas Information Form 51-101F1 for the year ended December 31, 2016. The Company filed its Audited Consolidated Financial Statements for the year ended December 31, 2016 and related Management's Discussion and Analysis ("MD&A") on SEDAR, EDGAR and SGXNet on February 23, [Read more]
Total Energy Services Inc. Announces Acquisition of Shares of Savanna Energy Services Corp. on the TSX
CALGARY, ALBERTA--(Marketwired - March 28, 2017) - Total Energy Services Inc. (TSX:TOT) ("Total" or the "Corporation") announced today that, in connection with its previously announced Offer (as defined below) to purchase all of the issued and outstanding common shares ("Savanna Shares") of Savanna Energy Services Corp. ("Savanna"), it has purchased, through the facilities of the Toronto Stock Exchange (the "TSX"), 49,000 Savanna Shares (the "Acquired Shares"). All of the Acquired Shares were [Read more]
Samson Resources II engages Jefferies and Houlihan Lokey for Strategic Review
TULSA, Okla., March 28, 2017 /PRNewswire/ -- The Board of Directors of Samson Resources II, LLC ("Samson II" or the "Company") has engaged Jefferies LLC as lead advisor and Houlihan Lokey Capital Inc. as co-advisor to conduct a strategic review of the Company's assets, including an evaluation of its core competencies and underlying reserve and production potential. The announcement comes after Samson II acquired substantially all of the assets of Samson Resources Corporation upon its [Read more]
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