CALGARY, ALBERTA--(Marketwired - June 26, 2014) - Chinook Energy Inc. (TSX:CKE) ("Chinook") is pleased to announce the appointment of Jason Dranchuk as Vice President, Finance and Chief Financial Officer of Chinook effective July 14, 2014. Since 2010, Mr. Dranchuk was the Vice President, Finance and Chief Financial Officer of Zargon Oil & Gas Ltd. (a publicly traded oil and gas exploitation company). From 2002 to 2010, Mr. Dranchuk held the Vice President, Finance and Controller positions [Read more]
News
Canada Energy Partners Option to Purchase Montney Rights Exercised and Reduction of Capital
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2014) - Canada Energy Partners Inc. (TSX VENTURE:CE) (the "Company") is pleased to announce that an undisclosed party (the "Purchaser") has exercised its option to purchase the Company's Montney shale lands and wells in accordance with the Option to Purchase Agreement previously announced by the Company on April 1, 2014 (the "Sale Transaction"), subject to the amendments described below. Concurrently with the exercise of the option, the [Read more]
Enerplus Announces $200 Million Private Placement of Senior Notes
CALGARY, June 26, 2014 /CNW/ - Enerplus Corporation ("Enerplus") (TSX: ERF) (NYSE: ERF) is pleased to announce that it has entered into agreements for an offering of senior unsecured notes (the "Notes") to be issued on a private placement basis to institutional investors in the United States (the "Private Placement") in an aggregate principal amount of US$200 million. The Notes have a 12 year amortizing term with a ten year average life and a fixed-rate coupon of 3.79%. The Notes are unsecured [Read more]
Perpetual Energy Inc. Announces $120 Million Joint Venture in the East Edson Area and Gas Over Bitumen Royalty Credit Monetization, Reports Related Significant Positive Reserves Update and Provides Updated Guidance for 2014 and 2015
CALGARY, June 25, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", or the "Company") is pleased to announce that it has entered into definitive agreements with a joint venture partner (the "JV Partner") for a portion of its lands in the Edson area of West Central Alberta (the "East Edson Property"). The joint venture ("East Edson JV") will significantly accelerate Perpetual's net production and funds flow growth from the East Edson Property. Closing is expected to occur on or before [Read more]
Oil prices gain as news of U.S. exports of light oil offsets rise in supplies
The price of crude oil rose Wednesday as news that the U.S. government is selectively allowing exports of certain light oils offset an unexpected increase in U.S. domestic supplies.Benchmark West Texas Intermediate crude for August delivery rose 47 cents to US$106.50 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, dropped 46 cents to US$114 a barrel in London.In other energy futures trading on the Nymex, wholesale gasoline fell three cents to US$3.09 [Read more]
Bonterra Energy Corp. Announces Increased Cash Dividend Payable for July 31, 2014 and an Increase to the 2014 Capital Budget
CALGARY, ALBERTA--(Marketwired - June 25, 2014) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) is pleased to announce that the Board of Directors has approved an increase to the monthly dividend from $0.29 per share to $0.30 per share ($3.60 per share annually) beginning with the June dividend payable July 31, 2014. The dividend is considered an "eligible dividend" for tax purposes. The Board has also approved an increase to the 2014 capital expenditure budget from $120 million to [Read more]
Freehold Royalties Ltd. Enters Into $120 Million Gross Overriding Royalty Joint Venture and Announces Equity Financing
CALGARY, ALBERTA--(Marketwired - June 25, 2014) - Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announced it has entered into a $120 million strategic joint venture (the Joint Venture) with a Canadian based company (JV Partner) in the East Edson area of Alberta (the JV Area). New Joint Venture highlights: Freehold assumes a priority share of production through the creation of a gross overriding royalty (GORR) Joint Venture. Commencing on the anticipated closing date of July [Read more]
Second Quarter Surprises Drillers, Prompts Upward Revision to CAODC’s 2014 Forecast
CALGARY, ALBERTA--(Marketwired - June 25, 2014) - The Canadian Association of Oilwell Drilling Contractors (CAODC) has updated its 2014 Drilling Activity Forecast. The spring update is when the Association reflects on first quarter activity - the time of year when industry is busiest - and weighs emerging trends that may impact the rest of the year. But when the CAODC Forecasting Committee met last month, it was the strength of second quarter activity that swayed the conversation. "This [Read more]
Alberta forest loss worst in foothills, not oilsands area: satellite imagery
EDMONTON - Information gleaned from satellite images shows that forests on the slopes of Alberta's Rocky Mountains have taken the brunt of industrial development.A report from Global Forest Watch shows that the eastern slopes, not the oilsands area, have suffered the highest rate of forest loss over the last 12 years.Almost seven per cent of those forests disappeared between 2000 and 2013 — more than double the average rate of forest loss across Canada.Report author Peter Lee says energy and [Read more]
Academics call for oilsands moratorium, U.S.-Canada carbon co-operation
Canada needs a moratorium on new oilsands projects and pipelines, says a group of Canadian and U.S. academics.In a comment article in the prominent science journal Nature, they argue that leaders have to stop considering the industry's development project by project and start thinking about the big picture."Governments have allowed corporations to profit from one-off policy decisions," the academics write in the article. "The collective result of these decisions is unnecessarily high social, [Read more]