BOE Report

Modest job recovery begins in oil sands sector as companies shift spending from expansion to operational efficiencies

CALGARY, ALBERTA--(Marketwired - Dec. 14, 2016) - Canada's oil sands sector has experienced sustained cost-cutting, restructuring and deeper than anticipated job cuts in 2016, but a modest recovery of about 3,400 net jobs is projected over the next four years as companies shift their spending from expansion to maintenance, repair and optimization of their operations, according to the Oil Sands Labour Demand Outlook to 2020 Update report, released today by PetroLMI, a Division of [Read more]

Storm Resources Ltd. Announces Grant of Stock Options

CALGARY, ALBERTA--(Marketwired - Dec. 13, 2016) - STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) announces that it has granted stock options ("Options") to acquire 1,659,000 common shares in the capital of Storm ("Common Shares") pursuant to its stock option plan, 861,000 of which were granted to the directors and officers of Storm. The Options vest over three years (1/3 on each of the first, second and third anniversary of the grant date), are exercisable at a price of $5.43 per Common Share [Read more]

Gear Energy Ltd. Announces Operations Update and 2017 Budget

CALGARY, ALBERTA--(Marketwired - Dec. 13, 2016) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following update to shareholders. OPERATIONS UPDATE Throughout the fourth quarter of 2016 Gear completed the following items of note: Successfully drilled two full section Basal Belly River horizontal wells in Wilson Creek. The first well was fracture stimulated in early December and is currently flowing back. The second well is scheduled to be stimulated [Read more]

Inter Pipeline Announces $450 million Medium-Term Note Offering

CALGARY, ALBERTA--(Marketwired - Dec. 13, 2016) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today that it has agreed to issue $450 million of senior unsecured medium-term notes in the Canadian public debt market. The notes will have a fixed interest rate of 3.484% per annum, payable semi-annually, and will mature on December 16, 2026. The offering is expected to close on or about December 16, 2016, subject to customary closing conditions. Inter Pipeline will use the net [Read more]

Husky Energy To Grow Margins And Invest In Higher Return Production

CALGARY, AB--(Marketwired - December 13, 2016) - Husky Energy (TSX: HSE) announced today its 2017 production guidance and capital program. "Our vitals are strong, including a solid balance sheet, a low break-even and a high return portfolio," said CEO Rob Peabody. "Our investment program will generate higher margins, further lower our corporate break even and increase our free cash flow." As a result of the ongoing transformation, overall sustaining and maintenance capital requirements [Read more]

Chinook Energy Announces Closing of Arrangement

CALGARY, ALBERTA--(Marketwired - Dec. 12, 2016) - Chinook Energy Inc. (TSX:CKE) ("Chinook" or the "Company") is pleased to announce that it has completed its previously announced plan of arrangement (the "Arrangement") under the provisions of the Business Corporations Act (Alberta) involving Chinook and the shareholders of Chinook. The Arrangement was approved by 99.98% of the votes cast by shareholders present in person or represented by proxy at Chinook's special meeting of shareholders (the [Read more]

Inter Pipeline to Acquire Remaining Interest in the Cold Lake Pipeline System and Announces New Oil Sands Transportation Agreement

CALGARY, ALBERTA--(Marketwired - Dec. 12, 2016) - Inter Pipeline Ltd. ("Inter Pipeline")(TSX:IPL) announced today that it has entered into an agreement to acquire Canadian Natural Resources Limited's ("Canadian Natural") 15 percent interest in the Cold Lake pipeline system for $527.5 million, subject to closing adjustments. As a result, Inter Pipeline will own 100% of the Cold Lake pipeline system. Canadian Natural will receive $350 million in cash and $177.5 million through the issuance of [Read more]

Canadian Natural Resources Limited Announces the Sale of its Ownership Interest in the Cold Lake Pipeline

CALGARY, ALBERTA--(Marketwired - Dec. 12, 2016) - Canadian Natural Resources Limited (TSX:CNQ)(NYSE:CNQ) ("Canadian Natural" or the "Company") is pleased to announce that it has reached an agreement to monetize the Company's non-core ownership interest in the Cold Lake Pipeline, to Inter Pipeline Ltd ("Inter Pipeline"). The transaction consists of the monetization of the Company's entire 15% ownership interest of Cold Lake Pipeline Ltd. and its 14.7% ownership interest in the Cold Lake Limited [Read more]

AltaGas Ltd. Announces Monthly Dividend

CALGARY, ALBERTA--(Marketwired - Dec. 12, 2016) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that the December dividend will be paid on January 16, 2017, to common shareholders of record on December 28, 2016. The ex-dividend date is December 22, 2016. The amount of the dividend will be $0.175 for each common share. This dividend is an eligible dividend for Canadian income tax purposes. As previously announced, AltaGas has a Premium Dividend™, Dividend Reinvestment and Optional [Read more]

Baytex Announces 2017 Budget and CEO Succession

CALGARY, ALBERTA--(Marketwired - Dec. 12, 2016) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) announces that its Board of Directors has approved a 2017 capital budget of $300 to $350 million, which is designed to generate average annual production of 66,000 to 70,000 boe/d. Baytex also announces that Ed LaFehr, President, will succeed James Bowzer as Chief Executive Officer in May 2017. 2017 Budget Commenting on the budget announcement, James Bowzer, Chief Executive Officer, said: [Read more]