The price of oil climbed on Thursday as the violence gripping energy producer Iraq continued to weigh on supply fears, with global crude pushing higher after hitting a nine-month high. Army troops and Islamic militants battled for control of Iraq's largest oil refinery, which by late Wednesday remained in government hands. All of the facility's output is used domestically so crude production and exports aren't affected but the violence underscores how the fighting may threaten the energy [Read more]
News
RockBridge signs to purchase BC producing gas properties
VANCOUVER, June 19, 2014 /CNW/ - RockBridge Resources Inc. ("RockBridge" or the "Company" – TSX-V symbol: RBE) is pleased to announce that it has a signed Offer to Purchase with respect to certain producing gas properties located in northeastern British Columbia. The properties encompass over 7 sections gross of land with the purchase involving non-operated working interests of 9% to 25% in several producing and non-producing wells. The purchase fits within RockBridge's strategy of continued [Read more]
PrairieSky confirms first dividend since IPO will be paid in July
CALGARY - PrairieSky Royalty Ltd. (TSX:PSK) has confirmed that its first dividend will be paid next month to shareholders of record as of June 30. The company, which has traded publicly since May after it was spun off by Encana Corp., said it will pay a monthly dividend of 10.58 per share on July 15. PrairieSky had said in its initial public offering documents that it intended to pay monthly dividends, initially at an annualized rate of $1.27 per common share. Read the full release here... [Read more]
Cequence Energy announces strategic disposition of Ansell Assets to create a well capitalized Montney focused company
CALGARY, June 18, 2014 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce that it has entered into a purchase and sale agreement (the "Agreement") for the sale of its entire interest in its non-operated assets located in the Ansell area (the "Ansell Assets") for total consideration of approximately $141 million, prior to customary closing adjustments (the "Transaction"). The Transaction is expected to close on or about July 7, 2014, subject to the [Read more]
Bonavista Energy Corporation Announces Ansell Area Asset Acquisition and Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - June 18, 2014) - Bonavista Energy Corporation ("Bonavista" or the "Company") (TSX:BNP) is pleased to announce that it has entered into an agreement to acquire certain natural gas weighted assets (the "Acquired Assets") in the Ansell area of its Deep Basin Core Area (the "Acquisition"). The Acquired Assets mainly comprise of the vendor's 49% working interest in the Bonavista-operated Wilrich plays plus some minor additional lands in the immediate area. The [Read more]
Enbridge Finalizes $7.5 Billion Mainline Replacement Program Cost Estimate; Issues CDN$400 Million of Common Equity
CALGARY, ALBERTA and HOUSTON, TEXAS--(Marketwired - June 18, 2014) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) and Enbridge Energy Partners, L.P. (NYSE:EEP) today announced the final scope and cost estimate for their Line 3 Replacement (L3R) Program is approximately $7.5 billion. The L3R Program was announced on March 3, 2014, following receipt of shipper support, and involves replacement of all segments of Line 3 between Hardisty, Alberta and Superior, Wisconsin with new pipe using the latest available [Read more]
Former Canadian ambassador not confident Keystone project will get approval in U.S.
MONTREAL - A former Canadian ambassador says he's less confident than he was two years ago about a positive reaction in the U.S. to the Keystone XL pipeline project. Raymond Chretien says he's beginning to see signs that lead him to believe that the Americans may reject the project The former ambassador says President Barack Obama wants to go down in U.S. history books as an environmentally friendly president. Chretien points to a recent announcement by the Obama administration to back [Read more]
Enbridge Announces Executive Changes
CALGARY, ALBERTA--(Marketwired - June 18, 2014) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) announced today that J. Richard Bird, Executive Vice President, Chief Financial Officer and Corporate Development, plans to retire by the end of 2014. Upon Mr. Bird's retirement, his responsibilities will be split into two separate roles of chief financial officer and chief development officer. Enbridge also announced the appointment of John Whelen as Senior Vice President, Finance and of Vern Yu as Senior Vice [Read more]
B.C. First Nations unite to fight feds on Northern Gateway approval
VANCOUVER - The president of the Haida Nation says B.C. First Nations are uniting to launch a sweeping legal challenge against the federal government over its approval of the Northern Gateway pipeline.Peter Lantin says the dispute has gone beyond the project proposed by Calgary-based Enbridge (TSX:ENB).He says it's become the focus of the battle for aboriginal rights in a province where the Crown has dragged its feet for generations on settling claims.Lantin says the federal approval has unified [Read more]
Artek Exploration Ltd. Provides Operations Update
CALGARY, ALBERTA--(Marketwired - June 18, 2014) - Artek Exploration Ltd. (TSX:RTK) - Artek Exploration Ltd. ("Artek" or the "Company") is pleased to provide the following operational update. During the first quarter at Inga, the Company experienced some mechanical issues during the water based multi-stage fracture stimulation program performed on its second horizontal Doig well of the year at A5-11-88-23W6M as disclosed in a prior press release. Following breakup, Artek was able to complete [Read more]