BOE Report

Bonterra Energy Corp. announces expiration of Obsidian Energy Ltd.’s unsolicited bid

CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") acknowledges Obsidian Energy Ltd.'s ("Obsidian") press release, dated March 29, 2021, which confirms that Obsidian has not extended its hostile bid, and therefore the hostile bid expired as of 5 p.m. (MST) on March 29, 2021. As of the expiry, the hostile bid was unsuccessful and any Bonterra shares that had been tendered will be promptly returned to the respective Bonterra shareholders. The [Read more]

Whitecap Resources Inc. increases 2021 production guidance with no increase to capital spending and enhances balance sheet strength through credit redetermination

CALGARY, AB - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to provide shareholders with an operational update on our successful capital program thus far in 2021 allowing us to increase 2021 production guidance with no change to our capital program, resulting in increased free funds flow. In addition, we continue to enhance our financial strength by extending our credit facility maturity to May 31, 2025 and maintaining our low cost of debt. OPERATIONS [Read more]

Highwood Oil Company Ltd. announces completion of successful disposition program, acquisition of over 320,000 acres of lithium permits, and strategic transformation to an asset management company

CALGARY, AB - Highwood Oil Company Ltd (TSXV: HOCL) ("Highwood" or the "Company") is pleased to provide the below updates. Operational Update As previously announced on November 13, 2020, Highwood has closed the divestiture of its Red Earth assets ("Red Earth") and the related decommissioning liability of approximately $35 million, for sale proceeds of $2 million in cash (the "Red Earth Sale"). The disposition of Red Earth was to Blue Sky Resources Ltd., an arm's-length Alberta-based, [Read more]

Tamarack Valley Energy Ltd. announces closing of previously announced strategic Clearwater and Waterflood asset acquisitions and $68 million equity financing

CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce the closing of the two previously announced strategic acquisitions (together, the "Acquisitions") in the Provost and Nipisi areas of Alberta for a total net purchase price of $135.3 million, after deducting the proceeds from the sale of two newly created 4% gross overriding royalties ("GORR") on a select portion of the acquired Nipisi properties. Concurrent with the Acquisitions, the [Read more]

Surge Energy Inc. Announces Closing of Strategic $106 Million Asset Sale; Positive Credit Facilities Re-Determination

CALGARY, AB, March 25, 2021 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce it has successfully completed its previously announced strategic $106 million asset sale (the "Sale"), and finalized a positive re-determination of the Company's credit facilities. ACCRETIVE ASSET SALE COMPLETED Surge has now closed its previously announced strategic Sale, providing a significant, immediate, positive impact on the Company's balance sheet. As a result [Read more]

Ovintiv exceeds divestiture target, announces Eagle Ford sale and updates guidance

DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced the signing of an agreement to sell its Eagle Ford assets to Validus Energy for $880 million. With this sale, the Company has exceeded its divesture target and, with other items, now anticipates year-end 2021 debt to be below $5 billion using its 2021 planning price deck of $50 WTI oil and $2.75 NYMEX gas. In addition, the Company expects to achieve its $4.5 billion debt target in the first half of 2022. Guidance was also updated to [Read more]

CRIN’s $80 million technology competitions support Canada’s expansion in clean technology

CALGARY, AB - The Clean Resource Innovation Network (CRIN) announces $80 CAD million for three large-scale technology competitions that will create positive environmental improvements for Canada's oil and natural gas industry and end users. Through the Government of Canada's $100 million commitment from the Strategic Innovation Fund, CRIN's three competitions will accelerate solutions to commercialization and wide-spread adoption to increase competitiveness and significantly reduce environmental [Read more]

Gear Energy Ltd. announces majority redemption of debentures

CALGARY, AB - Gear Energy Ltd. (TSX: GXE) is pleased to announce that it has received notice that the holder of $9.3 million of its outstanding 7.0% Convertible Unsecured Subordinated Debentures (the "Debentures") has elected to convert the Debentures at the conversion price of $0.32 per common share resulting in the issuance of 29.2 million common shares effective immediately. $3.4 million in Debentures remains outstanding. [Read more]

Vertex Resource Group Ltd. reports fourth quarter and fiscal 2020 Results

SHERWOOD PARK - (TSXV: VTX) - Vertex Resource Group Ltd. ("Vertex" or the "Company") reports its financial and operational results for the fourth quarter and year ending December 31, 2020. The following should be read in conjunction with the Management Discussion and Analysis ("MD&A") and the audited consolidated financials statements of Vertex for the year ended December 31, 2020, which are available on SEDAR at www.sedar.com. In the fourth quarter of 2020, despite ongoing challenges [Read more]

Teine Energy Ltd. announces proposed private offering of senior unsecured notes

CALGARY, AB - Teine Energy Ltd. ("Teine") announced today that it is planning to commence, subject to market and other conditions, a private offering (the "offering") of US$400 million in aggregate principal amount of senior unsecured notes due 2029 (the "notes"). Teine intends to use the net proceeds from this offering, if completed, to redeem in full Teine's outstanding US$350 million aggregate principal amount of 6.875% senior unsecured notes due 2022 (the "2022 Notes") at a redemption price [Read more]