CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Rock Energy Inc. ("Rock" or the "Company") (TSX:RE) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Dundee Securities Ltd. and including Acumen Capital Finance Partners Limited, AltaCorp Capital Inc., FirstEnergy Capital Corp., Haywood Securities Inc., National Bank Financial Inc., Paradigm Capital Inc. and GMP Securities L.P. (collectively, the "Underwriters"), pursuant to which the [Read more]
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Vital Energy Inc.: Drilling Update
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Vital Energy Inc. ("Vital" or the "Corporation") (TSX VENTURE:VUX) announces the following status update: Pennant Area, S.W. Saskatchewan: The previously announced 2 horizontal well locations at 2A8-15-3A2-15-18-17 W3M and 3D1-15-2D9-15-18-17 W3M have both been drilled, cased and are currently being equipped for production. Production rates will be announced after the wells have been on production for a minimum of 30 days. Based on the [Read more]
Oil rises another 3 per cent as BP cuts spending, adding to signs of production cuts
NEW YORK - Oil soared again Tuesday as the low prices of the past few months force oil companies to slow down production in the U.S. and elsewhere.In the morning, BP became the latest major oil company to announce it will cut exploration spending this year. Oil seemed to get a further boost in the afternoon from a run-up in the U.S. stock market.U.S. oil rose $3.48, or 7 per cent, to $53.05 a barrel, its highest closing price this year. Brent crude, a benchmark for many international oils [Read more]
Manitok Energy Inc. Provides Operations and Corporate Update
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2015) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is providing an operations and corporate update. Operations Update Cordel-Stolberg Manitok concluded 2014 by successfully completing the drilling and production test of two Cardium light oil wells. The two wells are 103/13-21-42-15W5 (33% working interest) and 13-11-42-15W5 (30% working interest). This completes a 15 well (6.8 net) drilling program in Cordel-Stolberg [Read more]
In Fort McMurray, contractors bearing the brunt of oilsands cutbacks
FORT MCMURRAY, Alta. - Roman Skowroniski would go back home to British Columbia if he thought the job prospects there were any brighter.But, for the time being, the heavy equipment operator will keep trying to make a go of it in Fort Mac."Right now the economy's very, very slow," he said. "The situation has started to get from bad to worse."Most of the time, Skowroniski is able to land short-term jobs through his union, but he's had little success lately."Our job board — it's equal to zero right [Read more]
Arcan Announces Debentureholder Approval to Exchange Its Convertible Debentures and Cancellation of Outstanding Options
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2015) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") is pleased to announce that the holders ("Debentureholders") of its $86.25 million 6.25% convertible unsecured subordinated debentures due February 28, 2016 (the "2016 Debentures") and $85.0 million 6.50% convertible unsecured subordinated debentures due October 31, 2018 (the "2018 Debentures" and together with the 2016 Debentures, the "Debentures") have approved, by way of [Read more]
Wall says Saskatchewan faces up to an $800 million shortfall due to oil prices
SASKATOON - Premier Brad Wall is warning the world oil price slump means the Saskatchewan government will face a budget shortfall of between $600 to $800 million this year.Wall told Saskatchewan Urban Municipalities Association delegates Monday that the shortfall amounts to about seven per cent of the province's revenue.He says that means spending cuts are likely, because he says his government wants to keep taxes low and not run a deficit.In its last budget update in November the province was [Read more]
Alberta premier says rally in oil prices won’t save province’s budget
WASHINGOTN, D.C. - Alberta's premier says a recent rally in the price of oil won't help the provincial government much as it tries to plug a multibillion dollar hole in its budget.Jim Prentice says US$50 a barrel oil is better than $40 a barrel, but the province still needs to find more stable sources of revenue to deal with what will be a sizable deficit. Prentice says prices will fluctuate, but analysts expect them to stay low for up to two years.Oil closed just below US$50 a barrel today [Read more]
Prentice in Washington: An Obama veto won’t be the end for Keystone XL
WASHINGTON - Alberta's premier expressed optimism during a trip to the United States that a presidential veto won't spell the end of the Keystone XL pipeline project.Jim Prentice made that observation amid a series of meetings Monday in the U.S. capital, where the debate over the controversial Alberta-to-Texas pipeline is entering a critical phase.He said everything he's heard suggests President Barack Obama is about to veto a Keystone bill that just made it through Congress — but that the issue [Read more]
Pembina Pipeline Corporation Announces Closing of $600 Million Public Note Offering
CALGARY, Feb. 2, 2015 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA) is pleased to announce that it has closed its previously announced offering of $600 million of senior unsecured medium-term notes (the "Offering"). The Offering was conducted in two tranches consisting of $450 million in senior unsecured medium-term notes, series 5 (the "Series 5 Notes") having a fixed coupon of 3.54% per annum, paid semi-annually, and maturing on February 3, 2025, and [Read more]