OTTAWA, Feb. 10, 2017 /CNW/ - Ensuring our provincial and territorial partners are treated fairly is fundamental to creating jobs and economic prosperity for middle-class Canadians. Canada's Minister of Natural Resources, the Honourable Jim Carr, and Manitoba's Minister of Growth Enterprise and Trade, the Honourable Cliff Cullen, today formally announced an agreement to transfer the Federal Soldier Settlement Board mineral rights and associated revenues from the Government of Canada to the [Read more]
Questerre announces successful private placement
CALGARY, Feb. 9, 2017 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) is pleased to announce that its private placement of up to 30.8 million Common Shares (the "Private Placement") has been substantially over-subscribed at a price of 5 NOK or C$0.79 per Common Share. Gross proceeds are estimated at 154 million NOK or approximately C$24 million. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "The proceeds from this placement [Read more]
Questerre announces proposed private placement
CALGARY, Feb. 9, 2017 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) is pleased to announce that it intends to complete a private placement directed towards Norwegian and international institutional investors (the "Private Placement"). The Company intends to use the net proceeds from the Private Placement to strengthen its working capital, partially financing its ongoing Montney capital program and the preliminary work for its planned pilot Utica development [Read more]
Perpetual Increases Proved Plus Probable Reserves Value by 12% and Announces Partial Repayment and Extension of Financing Arrangement
CALGARY, Feb. 9, 2017 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release a summary of the Company's year-end 2016 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. ("McDaniel"). In a drive to preserve value during the extremely low commodity price environment in 2016, Perpetual prioritized liquidity management and preservation of its balance sheet through restricted capital spending, [Read more]
ARC Resources Ltd. Replaces 260 Per Cent of Produced Reserves Through Development Activities in 2016
CALGARY, Feb. 8, 2017 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its 2016 year-end reserves and resources information. "ARC delivered another year of outstanding reserves results, replacing 260 per cent of 2016 produced reserves through development activities at low finding and development costs of $4.02 per boe for proved plus probable reserves. Exceptional well performance from our Montney assets resulted in positive technical revisions and material reserves [Read more]
ARC Resources Ltd. Announces Fourth Quarter and Year-end 2016 Results as It Increases Capital Investment in ARC’s Multi-year, Large-scale Development Projects at Dawson, Parkland/Tower, and Sunrise
CALGARY, Feb. 8, 2017 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its fourth quarter 2016 operating and financial results. Fourth quarter production averaged 117,611 boe per day, net income was $167.0 million (net income of $0.47 per share), and funds from operations totaled $188.5 million ($0.53 per share). ARC's consolidated financial statements and notes ("financial statements"), as well as ARC's Management's Discussion and Analysis ("MD&A") for the years ended [Read more]
Surge Energy Inc. Announces Intended 15 Percent Increase to its Dividend – On Growing Production Volumes and Free Funds Flow
CALGARY, Feb. 8, 2017 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces the Company's intention to increase its dividend from $0.075 per year ($0.00625 per month) to $0.085 per year ($0.00708 per month) effective March 15th, 2017. Surge continues to experience increasing production volumes, as a result of continued excellent drilling and waterflood results at its three core properties at Shaunavon, Sparky, and Valhalla. On December 13, 2016 Surge upwardly revised the [Read more]
More than 80,000 Inactive Oil Wells in Alberta. Opportunity or Environmental Hazard for Albertans?
CALGARY, Feb. 8, 2017 /CNW/ - Alarms are being raised over the growing number of inactive oil and gas wells in Alberta, which now exceeds 80,000. Why are there so many? Cost. Today, The School of Public Policy and author Lucija Muehlenbachs released a report that examines the potential harm inactive wells can cause and deciphers the rationale for leaving oil and gas wells inactive. Non-producing wells are routinely kept in a state of "inactive" suspension on the hope that someday oil [Read more]
Questerre updates Quebec resource assessment
CALGARY, Feb. 8, 2017 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) reported today on the resource assessment (the "Resource Assessment") of its Utica acreage in the St. Lawrence Lowlands, Quebec ("Quebec"). The best estimate by the Company's independent reserve engineers of unrisked Prospective Resources net to Questerre is 5.8 Tcf (965 million barrels of oil equivalent ("boe")). This represents a 30% increase over the 2010 year-end assessment by [Read more]
Advantage Announces 2016 Year-End Reserves
Record Low Proved Developed Producing Reserve Addition Cost of $0.84/mcfe ($5.04/boe) Underscores Outperformance In All Reserve Categories (TSX: AAV, NYSE: AAV) CALGARY, Feb. 7, 2017 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report that the Corporation achieved record low reserves addition costs and capital efficiencies in 2016 which continues to demonstrate the ongoing strength of its industry leading low cost and profitable natural gas development [Read more]
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