CALGARY, June 27, 2016 /CNW/ - Montana Exploration Corp. ("Montana Exploration" or the "Company") (TSXV: MTZ) today announced the results of its Annual and Special Meeting of its shareholders, held on Friday, June 24, 2016. Out of 248,954,407 common shares issued and outstanding on the record date for the meeting of May 24, 2016, 154,707,612 shares were voted, representing 62.14% of all such shares, with over 99.7% of votes cast in favour of all motions proposed by Management. Charles V. [Read more]
CEPA Announces 2016 Pipeline Industry Performance Report
CALGARY, June 27, 2016 /CNW/ - The Canadian Energy Pipeline Association (CEPA) today announced the publication of its second annual transmission pipeline industry performance report. The 2016 report shares details on how CEPA members are performing in the areas of safety and the environment and how the industry is contributing to the well-being of Canada. The intention of the report is to demonstrate our continued accountability as an industry, to educate and inform Canadians, and to tell the [Read more]
Penn West Announces the Closing of the Sale of Its Saskatchewan Assets
CALGARY, June 24, 2016 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE.BC) ("Penn West", the "Company", "we", "us" or "our") is pleased to announce that it has successfully closed the previously announced sale of all of its Saskatchewan assets for cash consideration of approximately $975 million, subject to closing adjustments. The Company will offer the net cash proceeds from the sale to its lenders and noteholders at par on a pro rata basis. "This transaction marks a significant [Read more]
Teine Energy Ltd. Announces Closing of Significant Asset Acquisition
CALGARY, June 24, 2016 /CNW/ - Teine Energy Ltd. ("Teine" or the "Company") announces that it has closed its previously announced asset acquisition of South Western Saskatchewan oil-weighted assets from Penn West Petroleum Ltd. for cash consideration of $975 million. The acquisition includes a core position within the Saskatchewan Viking light oil play as well as low decline conventional Bakken heavy oil properties currently under water flood. "This was an increasingly rare opportunity to [Read more]
Twin Butte Energy Ltd. and Reignwood Resources Holding Pte. Ltd. Jointly Announce Plan of Arrangement
CALGARY, June 24, 2016 /CNW/ - (TSX: TBE) – Twin Butte Energy Ltd. ("Twin Butte" or the "Company") and Reignwood Resources Holding Pte. Ltd. (the "Purchaser") are pleased to announce today that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which the Purchaser has agreed to acquire: i) all of the outstanding common shares of Twin Butte ("Twin Butte Shares") for cash consideration of $0.06 per share (the "Share Consideration"), and ii) all of [Read more]
Penn West Announces Voting Results From the 2016 Annual and Special Meeting of Shareholders
CALGARY, June 23, 2016 /CNW/ - PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE.BC) ("Penn West" "or the Company") is pleased to announce that at its annual and special meeting of shareholders held on June 23, 2016, Penn West's shareholders approved all resolutions outlined in the Notice of 2016 Annual and Special Meeting and Management Proxy Circular dated May 10, 2016 (the "Information Circular"), which is available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on Penn West's [Read more]
Whitecap Resources Inc. announces closing of previously announced acquisition of high quality low decline oil assets
CALGARY, June 23, 2016 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has now closed its previously announced acquisition of premium oil assets in southwest Saskatchewan for cash consideration of $595 million (the "Acquisition"). Since Whitecap announced the Acquisition on May 10, 2016, crude oil prices have increased by 12% to approximately US$50/bbl WTI, further increasing our projected free funds flow estimates. The Acquisition is [Read more]
Twin Butte announces extension of credit facilities
CALGARY, June 22, 2016 /CNW/ - (TSX: TBE) – Twin Butte Energy Ltd. ("Twin Butte" or the "Company") announces that its bank syndicate has agreed to extend the maturity date of Twin Butte's $85 million non-revolving credit facility by one day from June 22, 2016 to June 23, 2016 and the expiry of the revolving period of Twin Butte's $140 million revolving credit facility by one day from June 22, 2016 to June 23, 2016 to enable the Company to continue with its strategic alternatives process. As [Read more]
Energy East: NEB doubles participant funding to $10 million
Panel Members to start hearing process by visiting 10 cities across 6 provinces CALGARY, June 22, 2016 /CNW/ - The National Energy Board (NEB) announced today that the funding available to eligible intervenors for the Energy East hearing has been doubled from $5 to $10 million — the largest amount ever provided through its Participant Funding Program. The NEB also released the list of participants, as well as the schedule and locations of the Panel sessions. The NEB is committed to hearing [Read more]
Mosaic Energy Ltd. – Sale and Investment Solicitation Process
CALGARY, June 22, 2016 /CNW/ - Mosaic Energy Ltd. (the "Company" or "Mosaic") is a privately owned company incorporated under the law of the Province of Alberta and Canada Business Corporation Act. The Company is focused on the exploration for and the development, production and acquisition of, petroleum and natural gas reserves, and is primarily focused on multi-zone horizons in the Deep Basin of the Western Canadian Sedimentary Basin. An Order from the Court of Queen's Bench of Alberta (the [Read more]
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