CALGARY, April 3, 2017 /CNW/ - Calfrac Well Services Ltd. ("Calfrac" or the "Company") (TSX–CFW) has provided notice to its banking syndicate that it has elected to use the first of its two fully-funded $25 million equity cures, effective as of the quarter ending June 30, 2017. Calfrac has elected to trigger the first of its cures even though it is fully compliant with the financial covenants included in its credit agreement. As previously disclosed, Calfrac's two equity cures may not be [Read more]
Minister Carr Meets with U.S. Energy Secretary Perry in Washington, D.C.
WASHINGTON, D.C., March 30, 2017 /CNW/ - Canada and the United States share a unique relationship, a mutually beneficial partnership forged by shared geography, common interests and two of the most integrated economies in the world. Millions of good, middle-class jobs — on both sides of the border — depend upon the free flow of goods and services between our two countries. Canada's Minister of Natural Resources, the Honourable Jim Carr, took that message to Washington, D.C. this week as part [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. Energy East is a 4,500-kilometre pipeline proposed to carry 1.1-million barrels of crude oil per day from Alberta and Saskatchewan [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]
Altura Energy Inc. Announces Fourth Quarter and Annual 2016 Financial Results and 60 Percent Annual Production per Share Growth
CALGARY, March 23, 2017 /CNW/ - Altura Energy Inc. ("Altura" or the "Corporation") (TSX Venture: ATU) is pleased to announce its financial and operating results for the three months and year ended December 31, 2016. The audited consolidated financial statements, related management's discussion and analysis ("MD&A"), and Annual Information Form for the year ended December 31, 2016 will be available at www.sedar.com and www.alturaenergy.ca. OPERATIONAL AND FINANCIAL [Read more]
Ultra Petroleum Corp. Announces Hedging Transactions
HOUSTON, March 23, 2017 /CNW/ -- Ultra Petroleum Corp. ("Ultra") (OTC: UPLMQ) announced that it has entered into new NYMEX natural gas swaps for approximately 119 Bcf for the months of April 2017 through October 2017. The hedges are at an average price of $3.17 per MMBtu, or $3.34 per Mcf. The hedged volumes are equivalent to nearly 50% of remaining forecasted production guidance for the remainder of the year, assuming the midpoint of guidance, and 100% of the PDP volumes required to be hedged [Read more]
Georox Announces Year-End NI51-101 Reserves to 696,000 Barrels Of Oil Equivalent
KELOWNA, BC, March 22, 2017 /CNW/ - Georox Resources Inc. ("Georox" or the "Corporation") (GXR:TSX-V; OF6A:FRA) is pleased to provide information on its oil and gas reserves as of December 31, 2016 as evaluated in a report (the "Report") by the Corporation's independent reserve engineering firm, Sproule Unconventional Limited ("Sproule"). The reserves were evaluated in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil [Read more]
NEB staff on-site at Enbridge storage facility incident in Strathcona County, Alberta
CALGARY, March 21, 2017 /CNW/ - The National Energy Board (NEB) is responding to an incident that occurred on Monday, March 20 at an Enbridge storage facility in an industrial area of Strathcona County, Alberta. The incident resulted in oil flowing into a storm pond on an adjacent industrial site and then into a creek. The source of the leak has been controlled and all of the oil has been contained. At this time, there is no estimate of the volume of oil that has been released. There were no [Read more]
Journey Energy Inc. Reports its 2016 Financial Results, Announces Strategic Acquisition, and Updates 2017 Guidance
CALGARY, March 20, 2017 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce its financial results for 2016. The complete set of financial statements and management discussion and analysis for the year ended December 31, 2016 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. HIGHLIGHTS Strategic Acquisition Journey is pleased to announce that it has entered into a purchase and sale agreement with a private company to [Read more]
Black Swan Energy Announces Long Term Egress Commitment & Corporate Update
CALGARY, March 20, 2017 /CNW/ - Black Swan Energy is pleased to announce that it has entered into a long term commitment with TransCanada Corporation, for 229 MMcf/d of service on the North Montney Mainline for transportation on the NGTL system, with an expected on-stream date in Q2 2019. This service relates to the recent announcement by TransCanada in which they confirmed they are seeking approval to proceed with the North Montney Mainline Project. Black Swan has also secured 20 [Read more]
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