CALGARY, Jan. 5, 2017 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce its 2017 capital budget, highlighted by over 10% forecast production growth and key strategic infrastructure investment. Bellatrix is also pleased to outline its three year corporate development plan, which is designed to deliver compound annual growth in annual average production of over 10% through 2019. Following the strategic repositioning efforts undertaken [Read more]
Penn West Announces 2017 Capital Budget and Senior Management Changes
CALGARY, Jan. 5, 2017 /CNW/ - PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE) ("Penn West", the "Company", "we", "us" or "our") is pleased to announce a 2017 total capital budget of $180 million. Our 2017 capital budget is expected to provide approximately 15% production growth in our key development areas from the fourth quarter of 2016 to the fourth quarter of 2017 and to provide ample flexibility to respond to commodity price as we utilize only 80% of available funds flow from [Read more]
Oil Prices Expected to Grow Slightly in 2017: Deloitte
CALGARY, Jan. 4, 2017 /CNW/ - Production cuts by members of the Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC countries are expected to provide a short-term boost to world oil prices, but the effects will be offset to some extent by increases in production in Canada and the United States. The latest price forecast by Deloitte's Resource Evaluation and Advisory (REA) group also predicts some weakening of natural gas prices after recent rises caused by the onset of [Read more]
Enerplus Closes Sale of Non-Operated North Dakota Assets
CALGARY, Jan. 3, 2017 /CNW/ - Enerplus Corporation (TSX & NYSE: ERF) announces that its wholly-owned subsidiary, Enerplus Resources (USA) Corporation, has closed the previously announced sale of its non-operated assets in North Dakota for total cash consideration of US$292 million (approximately C$390 million), subject to tax and customary post-closing adjustments. About Enerplus Enerplus Corporation is a responsible developer of high quality crude oil and natural gas assets in Canada [Read more]
Perpetual extends note exchange proposal for its 8.75% senior notes
CALGARY, Dec. 27, 2016 /CNW/ - (TSX: PMT) – Perpetual Energy Inc. ("Perpetual" or the "Company") announces that it has extended the acceptance date for its previously announced proposal to exchange all of its 8.75% senior notes due March 15, 2018 (the "2018 Senior Notes") and its 8.75% senior notes due July 23, 2019 (the "2019 Senior Notes" and together with the 2018 Senior Notes, the "Existing Senior Notes") for new 8.75% senior notes (the "Exchange Senior Notes") having an extended maturity [Read more]
Trident Exploration Corp Announces Equity Raise and Property Acquisition
CALGARY, Dec. 23, 2016 /CNW/ - Trident Exploration Corp. ("Trident" or the "Company") is pleased to announce that it has closed an equity offering and property acquisition. In a rights offering that was backstopped by the Company's major shareholder, Trident issued approximately 59.3 million shares at a price of $0.3793 per share for gross cash proceeds of $22.5 million. The fee for the backstop was paid in shares and represented 5% of the issue or approximately 3.0 million shares. After [Read more]
Bellatrix Announces Closing of $80 Million Non-Core Asset Sale
TSX, NYSE: BXE - CALGARY, Dec. 21, 2016 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that it has completed the previously announced sale of certain non-core assets in the greater Harmattan area of Alberta (the "Harmattan asset sale"). Pursuant to the Harmattan asset sale, the Company received net cash proceeds of approximately $65 million, and made a $15 million vendor take back loan ("VTB Loan") to the purchaser. The VTB Loan bears [Read more]
Madalena Announces Sale of Point Loma Debenture
(All dollar figures are expressed in United States Dollars, unless otherwise noted) CALGARY, Dec. 20, 2016 /CNW/ - Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTCQX: MDLNF) announces that it has sold its CAD $3 million convertible debenture (the "Convertible Debenture") of Point Loma Resources Ltd. (TSXV: PLX) ("Point Loma") for cash proceeds of $522,000 (CAD $700,000). The Convertible Debenture was part of the consideration Madalena received when the non-core Canadian [Read more]
AIMCo Acquires Ownership Stake in Howard Energy Partners
EDMONTON, Dec. 20, 2016 /CNW/ - Alberta Investment Management Corporation ("AIMCo"), on behalf of certain of its clients, is pleased to announce that it has agreed to acquire an ownership stake in Howard Energy Partners from EnLink Midstream Partners, LP (NYSE:ENLK). The investment, representing an ownership stake of approximately 28% of Howard Energy Partners, makes AIMCo the second largest unitholder in the company. The transaction is expected to close during the first quarter of 2017, subject [Read more]
Vermilion Energy Inc. Closes Acquisition of Producing Properties in Germany
CALGARY, Dec. 19, 2016 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We" or "Our") (TSX, NYSE: VET) is pleased to announce that we have completed the previously announced acquisition of interests in production and exploration assets in Germany (the "Acquisition") from Engie E&P Deutschland GmbH, for total consideration of €33 million ($46.2 million), based on the effective date of January 1, 2016. After adjustments for cash flows between the effective date and closing date, Vermilion's cash [Read more]
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