CALGARY, July 31, 2017 /CNW/ - Cona Resources Ltd. (formerly Northern Blizzard Resources Inc.) ("Cona" or the "Company") announces the final results and settlement of its offer (the "Offer") to purchase for cash any and all of its US$269.7 million outstanding 7.25% Senior Notes due 2022 (the "Notes"). The Company offered to purchase for cash any and all of the outstanding Notes at a purchase price equal to 101% of the principal amount of the Notes plus accrued and unpaid interest up to, but not [Read more]
Archives for July 2017
Oil markets escape Venezuela sanctions for now
NEW YORK (Reuters) - U.S. oil markets had a muted reaction on Monday after Washington slapped sanctions on Venezuelan President Nicolas Maduro but experts say broader oil-sector and financial sanctions may be the only way to make the Venezuelan government feel economic pain. The move came after Sunday's vote creating a new legislative superbody with the power to dissolve state institutions such as the opposition-run Congress. Countries around the world denounced the vote while Washington called [Read more]
Oil at two-month high, ends above $50 a barrel
NEW YORK (Reuters) - Oil prices rose to two-month highs on Monday, ending the strongest month of the year for crude futures, boosted in part by expectations of U.S. sanctions against Venezuela's oil sector and as supply concerns have waned in recent weeks. During the trading day, chatter centered around potential U.S. Treasury sanctions targeting the country's oil sector in response to Venezuela's Sunday election which Washington denounced as a "sham." That helped boost prices prior to [Read more]
PSAC boosts oil, gas drilling forecast by 8 percent
Canadian light oil producers will drill more wells than previously expected this year as the sector benefits from investors transferring capital out of the oil sands, the Petroleum Services Association of Canada said on Monday In an update to its annual drilling forecast PSAC said 7,200 wells will be drilled this year, 8 percent higher than its prior estimate of 6,680 wells. The industry body said it had underestimated how fast investors looking for a swifter return on capital in a low oil price [Read more]
Tidewater Successfully Completes Financial Restructuring And Emerges From Chapter 11 Bankruptcy
NEW ORLEANS, July 31, 2017 /PRNewswire/ -- Tidewater Inc. (NYSE: TDW) ("Tidewater" or the "Company") announced that effective today the Company and its affiliated chapter 11 debtors have emerged from bankruptcy after successfully completing its reorganization pursuant to the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater and its Affiliated Debtors (the "Plan"), that was confirmed on July 17, 2017 by the United States Bankruptcy Court for the District of Delaware. [Read more]
Pan Orient Energy Corp.: AYU-1X Drilling Update
CALGARY, ALBERTA--(Marketwired - July 31, 2017) - Pan Orient Energy Corp. ("Pan Orient" or the "Company") (TSX VENTURE:POE) is providing an operations update. INDONESIA East Jabung PSC (Pan Orient 49% & Non Operator) The operator of the East Jabung Production Sharing Contract has advised that the AYU-1X exploration well commenced drilling on July 29th, a nine day delay from the anticipated July 20th date discussed in Pan Orient's July 5th press release. [Read more]
Billionaire Investors Backing an Oil Price Turnaround
LONDON, July 31, 2017 /PRNewswire/ -- Here's something few energy investors know... The Latin American energy sector is at its most lucrative turning point ever. In Argentina, while all the supermajors are tied up in the Vaca Muerta shale, massive heavy oil opportunities are up for grabs. Active companies in the market include: BHP Billiton Limited (NYSE:BHP), Phillips 66 (NYSE:PSX), Cabot Oil & Gas Corporation (NYSE:COG), Husky Energy Inc. (TSX:HSE.TO), Halcón Resources Corporation (NYSE:HK). [Read more]
Rex Energy Announces Date of Second Quarter 2017 Earnings Release
STATE COLLEGE, Pa., July 31, 2017 (GLOBE NEWSWIRE) -- Rex Energy Corporation (Nasdaq:REXX) today announced plans to release second quarter 2017 financial and operational results on Tuesday, August 8, 2017 after market close. Management will host a live conference call and webcast on Wednesday, August 9, 2017 at 10 a.m. ET to review second quarter 2017 financial results and operational highlights. The telephone number to access the conference call is (866) 437-1772. The conference call will [Read more]
Canadian heavy oil plugs gap left by OPEC, Latam
Canada's struggling oil market has found something of a lifeline as traders scramble for heavy crude due to OPEC production cuts and sinking Latin American output. Output has fallen in Organization of the Petroleum Exporting Countries and non-OPEC Latin American countries such as Mexico and Colombia, leading refiners as far away as China to look to Alberta's oil sands to fill the gap. The interest has boosted the price for heavy Western Canada Select (WCS) oil, which is within range of its [Read more]
Plan B: After investors pull out of B.C., interest in planned N.S. LNG facility up
HALIFAX - A Nova Scotia company looking to build a liquefied natural gas terminal on Canada's East Coast says it's seeing an uptick in interest since an LNG megaproject slated for the West Coast was scrapped last week. Paul MacLean with Bear Head LNG Corp., a subsidiary of Australia-based Liquefied Natural Gas Ltd., says after more than a year of wooing western Canadian shale gas producers, the Nova Scotia project is getting attention. "We've been working with western basin [Read more]
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