CALGARY - Shell Canada says its Carmon Creek oilsands project will start up a couple of years later than planned as the company looks to drive down costs.With low crude prices curbing construction activity in northern Alberta, contractors and service providers have been under pressure to sharpen their pencils.Shell is altering the schedule for the first two phases of Carmon Creek so that it can improve its design and retender some contracts, said spokesman Cameron Yost."We are still early enough [Read more]
News
Prince Rupert Gas Transmission Project Receives First Two B.C. Oil & Gas Commission Construction Permits
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2015) - TransCanada (TSX:TRP) (NYSE:TRP) (TransCanada) today announced it has received the first two permits from the British Columbia (BC) Oil & Gas Commission (OGC), approving construction for two sections of Prince Rupert Gas Transmission project (PRGT) along approximately 250 kilometres (155 miles) of the route. The pipeline approvals are for sections that extend from 20 km (12.4 miles) northwest of Hudson's Hope to approximately 50 km [Read more]
Connacher Completes Restructuring and Provides Q1 2015 Operational Update
CALGARY, May 8, 2015 /CNW/ - Connacher Oil and Gas Limited (CLL – TSX; "Connacher" or the "Company") announced today that it has closed the previously announced recapitalization transaction (the "Recapitalization"). The Recapitalization included, among other things: The exchange of approximately C$1.0 billion of Connacher's debt for common shares of Connacher, including accrued and unpaid interest; The issuance by Connacher of US$35 million aggregate principal amount of new second lien [Read more]
Talisman Announces Completion of the Acquisition by Repsol
CALGARY, ALBERTA--(Marketwired - May 8, 2015) - Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) announces that the acquisition of Talisman by Repsol S.A. by way of an arrangement under the Canada Business Corporations Act has been completed. Under the arrangement, a wholly-owned subsidiary of Repsol has acquired all of the outstanding common shares of Talisman at a price of US $8.00 per share and all of the outstanding preferred shares of Talisman at a price of CDN $25.1093 (representing CDN $25.00 [Read more]
Bellatrix announces proposed US$250 million offering of senior unsecured notes
CALGARY, May 8, 2015 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that it intends to commence a private offering to eligible purchasers, subject to market conditions, of US$250 million in aggregate principal amount of senior unsecured notes due 2020 (the "notes"). Bellatrix intends to use the net proceeds from the offering of the notes to partially repay borrowings outstanding under its bank credit facility. The notes have not been [Read more]
Enerplus Building Momentum with Strong Operational First Quarter 2015 Results
CALGARY, May 8, 2015 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF) (NYSE: ERF) announces the results from operations for the first quarter 2015. HIGHLIGHTS: Enerplus delivered strong operating results and continued to demonstrate prudent financial stewardship through a focus on disciplined capital allocation and cost control. We are well positioned to achieve our key operating targets in 2015 and remain in a strong financial position as we navigate through a challenging commodity [Read more]
Crew Energy Inc. Announces First Quarter 2015 Financial and Operating Results and Updated Montney Resource Evaluation
CALGARY, ALBERTA--(Marketwired - May 7, 2015) - Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") is pleased to announce our operating and financial results for the three month period ended March 31, 2015. Our Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three month period ended March 31, 2015 are available on Crew's website and will be filed on SEDAR. Q1 HIGHLIGHTS Updated our independent Montney Resource [Read more]
Dejour Reports Q1 2015 Results
49% Oil Production Increase Driven By New Woodrush Wells VANCOUVER, British Columbia--(BUSINESS WIRE)--Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announced its financial results for the three month periods ended March 31, 2015. Q1 2015 Key Financial and Operating Highlights are: Successfully completed and [Read more]
Saskatchewan group says Energy East pipeline project benefits outweigh risks
SASKATOON - The Saskatchewan Association of Rural Municipalities believes that the benefits of the Energy East pipeline project far outweigh the risks.The pipeline would ship oil from Alberta and Saskatchewan to the East Coast.Association president Ray Orb says the pipeline would bring taxation revenues to the rural municipalities that have the pipeline on its land, plus it would create more jobs and also bring in revenue for the province.One of the terminals for the project would be based in [Read more]
Pengrowth Announces Strong First Quarter Funds Flow, Declaration of Commerciality and Record Production at its Lindbergh Thermal Project
CALGARY, ALBERTA--(Marketwired - May 7, 2015) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to announce its financial and operating results for the three months ended March 31, 2015. Derek Evans, President and Chief Executive Officer of Pengrowth said, "We had an exceptional first quarter with Lindbergh production ramping up as per expectations to over 10,000 bbl per day at present and robust first quarter funds flow that was essentially flat to the fourth quarter of 2014, [Read more]