CALGARY, May 26, 2017 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its financial and operating results for the quarter-ended March 31, 2017 (all amounts are in Canadian dollars unless otherwise noted). Q1 2017 Highlights Financial Q1 2017 revenue, net of royalties, increased to $46.9 million (Q1 2016 - $11.8 million) due to higher sales volumes and higher crude oil benchmark pricing Q1 2017 adjusted EBITDA increased to $1.9 million (Q1 2016 – [Read more]
The road to oil supply balance is paved with false starts: Scotiabank
TORONTO, May 26, 2017 /CNW/ - The Scotiabank Commodity Price Index gaining 2.0% m/m in April as strong energy and forest products performance more than compensated for a minor sell-off in metals markets. Oil prices fell to their lowest levels in early May since the initial announcement of the OPEC/non-OPEC supply agreement before recovering on news of Saudi and Russian support for a 9-month extension of the deal. Despite this, the oil market recovery is still fragile and requires further [Read more]
Penn West Proposes a Name Change to Obsidian Energy
CALGARY, May 26, 2017 /CNW/ - PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE) ("Penn West", the "Company", "we", "us" or "our") is pleased to propose a name change to Obsidian Energy Ltd. "As we look around today, our Company is very different from just a few short years ago," reflected David French, President and Chief Executive Officer. "Over the past several months, we spoke a lot about concluding the story of our restructuring, which touched everything from our balance sheet, key [Read more]
AIMCo Announces Significant Investment in Ikkuma Resources
EDMONTON, May 25, 2017 /CNW/ - Alberta Investment Management Corporation ("AIMCo"), on behalf of certain of its clients, is pleased to announce that today it has successfully entered into a strategic financing relationship with Ikkuma Resources Corp., ("Ikkuma") (TSE: IKM). Based upon the terms of the agreement, the financing relationship provides for a debt-with-warrants financing consisting of a CAD $45 million second lien senior secured term loan, which bears annual interest at 7.25% and [Read more]
Ikkuma Resources Corp. Announces Closing of Debt Financing and Amendment to Credit Facilities
CALGARY, May 25, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) announces that it has completed a financing with Alberta Investment Management Corporation ("AIMCo"), on behalf of certain of its clients, providing for a $45.0 million second lien senior secured term loan (the "Second Lien Facility"), which bears annual interest at 7.25% and matures on March 31, 2022. The proceeds from the Second Lien Facility were made available in a single draw and amounts [Read more]
Hemisphere Energy Announces Q1 2017 Financial and Operating Results
TSX-V: HME VANCOUVER, May 25, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three months ended March 31, 2017. Q1 2017 Highlights Achieved quarterly production average of 583 boe/d (91% oil), a 15% increase over the first quarter of 2016. Increased revenue by 145% to $2.3 million compared to the first quarter of 2016. Increased operating netbacks, which includes gains on commodity [Read more]
Northern Blizzard Resources Inc. Announces Annual and Special Meeting of Shareholders
CALGARY, May 25, 2017 /CNW/ - Northern Blizzard will hold its annual and special meeting of shareholders on Thursday, June 22, 2017 at 4:00PM (Calgary time) at The Metropolitan Conference Center in the Royal Room (333 - 4 Avenue SW, Calgary, AB). Meeting materials will be mailed to shareholders and will also be available at www.northernblizzard.com or at www.sedar.com. Northern Blizzard Northern Blizzard is a Canadian crude oil production and development company focused on maximizing oil [Read more]
Canada to reduce emissions from oil and gas industry
The natural gas that is used to heat homes and the gasoline that powers cars will be produced with less harm to our environment CALGARY, May 25, 2017 /CNW/ - The Government of Canada is committed to moving towards cleaner economic growth while reducing pollution and providing a healthy environment for our children and grandchildren. Today, the Minister of Environment and Climate Change, Catherine McKenna, announced regulations to reduce methane emissions and air pollution from Canada's [Read more]
Perpetual Energy Inc. Announces Election of Directors
CALGARY, May 24, 2017 /CNW/ - (TSX: PMT) – Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce that the nominees listed in the management proxy circular dated April 4, 2017 were elected as directors of Perpetual. The detailed results of the vote for the election of directors held at its annual meeting of shareholders earlier today in Calgary, Alberta are set out below. Election of Directors On a vote by ballot, each of the following eight nominees [Read more]
Painted Pony announces trading symbol change and participation in the Cormark Securities Annual Spring Montney E&P Conference
CALGARY, May 23, 2017 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) is pleased to announce the trading symbol for its common shares on the Toronto Stock Exchange has changed from "PPY" to "PONY" effective immediately. Conference Participation Painted Pony will be participating in the Cormark Securities Annual Spring Montney E&P Conference taking place at the Trump International Hotel and Tower in Toronto, Ontario on Wednesday, May 24, 2017. The [Read more]
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