CALGARY, July 16, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual" or the "Company") is pleased to announce that it has successfully closed the previously announced East Edson Joint Venture (the "East Edson JV"). Proceeds to Perpetual include $50 million for the sale of a 50 percent gross overriding royalty on existing producing assets (the "Producing Royalty") and an additional $70 million to fund Wilrich development activities to earn a second royalty (the "Drilling Royalty"). In [Read more]
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Freehold Royalties Ltd. Announces Closing of $120 Million Gross Overriding Royalty Joint Venture and Equity Financing
CALGARY, ALBERTA--(Marketwired - July 16, 2014) - Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that it has closed its previously announced $120 million strategic joint venture (the Joint Venture) with a Canadian based company in the East Edson area of Alberta. In conjunction with the closing of the Joint Venture, Freehold also completed its previously announced bought deal financing, issuing 4,900,000 common shares at a price of $26.90 per share (the Issue Price) for gross proceeds [Read more]
Journey Energy Inc. announces implementation of dividend policy, drip and stock dividend program and declaration of monthly dividend for July 2014
CALGARY, July 15, 2014 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce that it has adopted a dividend payment policy and in connection therewith has also adopted a dividend reinvestment plan (the "DRIP") and a stock dividend program (the "SDP"). Eligible shareholders may elect to participate in the DRIP and/or the SDP commencing with the dividend to be paid on August 15, 2014 to shareholders of record as of July 31, 2014. Participation in the DRIP and [Read more]
Long Run Exploration Ltd. and Crocotta Energy Inc. Announce Mailing of Joint Information Circular in Connection With Proposed Business Combination
CALGARY, ALBERTA--(Marketwired - July 15, 2014) - Long Run Exploration Ltd. ("Long Run") (TSX:LRE) and Crocotta Energy Inc. ("Crocotta") (TSX:CTA) are pleased to jointly announce that they have mailed to shareholders of record as of the close of business on July 4, 2014, a joint information circular and proxy statement (the "Joint Information Circular") and related materials in connection with the special meeting ("Crocotta Meeting") of holders of common shares of Crocotta ("Crocotta [Read more]
Crude oil dips below US$100 a barrel for the first time since May
The price of oil fell below US$100 a barrel for the first time since May even as the deteriorating security situation in Libya has raised questions about whether the North African country can soon increase crude exports. Benchmark West Texas Intermediate crude for August delivery fell 95 cents to close at US$99.96 a barrel on the New York Mercantile Exchange. Oil is down five per cent since the beginning of the month. Brent crude, a benchmark for international oils used by many U.S. [Read more]
National Energy Board Calls on Trans Mountain to File Additional Studies on Pipeline Expansion through Burnaby Mountain
CALGARY, 15 July 2014 /CNW/ - The National Energy Board (NEB or the Board) has directed Trans Mountain ULC (Trans Mountain) to file additional information on the feasibility of routing a four km portion of the proposed Trans Mountain Expansion Project through Burnaby Mountain. The company recently advised the NEB that this corridor is now the preferred option, a change from the original pipeline corridor filed with the project application in December 2013. On 3 June 2014, the NEB issued an [Read more]
Blackbird Energy Inc. Announces Farm Out Agreement at Its Mantario Oil Project and Operational Update for Its Elmworth Montney Acreage
CALGARY, ALBERTA--(Marketwired - July 15, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI)("Blackbird" or the "Company") is very pleased to announce that is has entered into a Farmout Agreement (the "Agreement") with a private oil and gas investment company ("PrivateCo") to drill the first two horizontal wells at Blackbird's Mantario Oil Project (the "Project"). Blackbird also is pleased to give an update on its operations pertaining to its Elmworth Montney Acreage. Mantario Farm Out Agreement [Read more]
Lightstream Announces Operational Update and Buy Back of US$44 Million of High Yield Unsecured Senior Notes
CALGARY, ALBERTA--(Marketwired - July 15, 2014) - Lightstream Resources Ltd. ("Lightstream" or the "Company") (TSX:LTS), is pleased to provide an operational update following the end of the second quarter and announce the buy back of US$44 million principal amount of our outstanding high yield Senior Notes. OPERATIONAL UPDATE Production for the second quarter of 2014 averaged 42,500 boepd based on field estimates (80% light-oil and liquids weighting), in line with first quarter 2014 [Read more]
Amid no maket-moving news, crude oil drifts 8 cents higher to US$100.91 a barrel
Lacking any catalysts, the price of crude oil barely changed Monday.Benchmark West Texas Intermediate crude for August delivery rose eight cents to US$100.91 a barrel on the New York Mercantile Exchange. The Nymex contract fell 3.1 per cent last week and is down 4.3 per cent so far in July.Brent crude, a benchmark for international oils, gained 45 cents to US$107.71 on the ICE Futures exchange in London.In other Nymex trading, wholesale gasoline added two cents to US$2.93 a U.S. gallon (3.79 [Read more]
More legal challenges filed in Federal Appeal Court against Northern Gateway nod
VANCOUVER - The Gitga'at First Nation will ask the Federal Court of Appeal to recognize the band's aboriginal title along the proposed tanker route where ships would be carrying oil from the Northern Gateway pipeline as part of a legal fight against the proposal.The band filed an application with the court on Monday, bringing to at least five the number of groups seeking judicial review of the federal cabinet's decision approving the project."The Gitga'at put forward evidence of title to [Read more]