GRANDE PRAIRIE, Alta. - Alberta Tory leadership candidate Jim Prentice says he's the one who can navigate the myriad of challenges to get the Northern Gateway pipeline built to the B.C. coast. Prentice said in a prepared speech Wednesday that a strong leader is needed to forge agreements for the pipeline. "There will be no access to the Asia Pacific basin for our energy unless we strike a partnership with the government of British Columbia and a partnership with First Nations, including, [Read more]
News
Arsenal Energy Inc. Announces Upsizing of Bought Deal Financing to $6.5 Million
CALGARY, ALBERTA--(Marketwired - June 11, 2014) - Arsenal Energy Inc. ("Arsenal" or the "Corporation") (TSX:AEI) announces upsizing of the previously announced bought deal financing with Acumen Capital Finance Partners Limited, as lead underwriter on behalf of a syndicate of underwriters including National Bank Financial Inc., Industrial Alliances Securities Inc. and PI Financial Corp. (collectively, the "Underwriters"). Under the terms of the agreement Arsenal will now issue 695,200 common [Read more]
Baytex Announces Closing of Aurora Acquisition and Confirms 9% Dividend Increase
CALGARY, ALBERTA--(Marketwired - June 11, 2014) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) announces the closing of its previously announced acquisition of all of the shares of Aurora Oil & Gas Limited ("Aurora") pursuant to a scheme of arrangement under Australian law (the "Arrangement"). Concurrent with closing of the Arrangement, the monthly dividend on our common shares will increase by 9% to $0.24 from $0.22 per share. This increased dividend level will be effective in [Read more]
Arsenal Energy Inc. Announces $4 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - June 11, 2014) - Arsenal Energy Inc. ("Arsenal" or the "Corporation") (TSX:AEI) announces it has entered into an equity financing agreement, on a bought deal basis, with Acumen Capital Finance Partners Limited, as lead underwriter on behalf of a syndicate of underwriters including National Bank Financial Inc., Industrial Alliances Securities Inc. and PI Financial Corp. (collectively, the "Underwriters"). Under the terms of the agreement Arsenal will issue [Read more]
B.C. premier removes herself from oil refinery proposal linked to former husband
VICTORIA - Premier Christy Clark says she's removing herself from her government's dealings with a new British Columbia oil refinery proposal that has ties to her former husband, Mark Marissen. Vancouver company, Pacific Future Energy Corp., is pitching a $10-billion oilsands refinery on B.C.'s north coast, with plans to connect Alberta's oil resources with Asian markets. Marissen has been hired as the company's executive vice president of communications. After consulting with B.C.'s [Read more]
Oil ministers from OPEC countries signal they will keep production target steady at meeting
VIENNA - All is not well within OPEC as the oil cartel focuses on how much crude to pump for the rest of the year. Kurds in Iraq are defying the central government and selling their oil directly abroad. Nigeria is hurting due to shale oil production in the United States, its most important customer. While worrisome for the two countries, such problems may help global supplies. But there is trouble in production, as well. Sales from Iran, normally second only to Saudi Arabia, are severely [Read more]
Osum Oil Sands Corp. Acquires Orion Oil Sands Project
CALGARY, ALBERTA--(Marketwired - June 10, 2014) - Osum Oil Sands Corp. ("Osum" or the "Company"), a private in-situ oil sands company, today announced that it has entered into an agreement to purchase the Orion Oil Sands Project from Shell Canada (a Royal Dutch Shell Group entity) for Canadian $325 Million (subject to customary purchase price adjustments and certain closing conditions). The transaction is expected to close on or about July 31, 2014. Commenting on the acquisition, Steve [Read more]
MGM Energy Corp. Announces Receipt of Shareholder Approval for Arrangement Pursuant to which Paramount Resources Ltd. will Acquire MGM Energy Corp.
CALGARY, ALBERTA--(Marketwired - June 10, 2014) - MGM Energy Corp. ("MGM Energy" or the "Company") (TSX:MGX) announced today that, further to its April 14, 2014 press release, it has received the requisite shareholder approvals for the previously announced arrangement (the "Arrangement") pursuant to which Paramount Resources Ltd. ("Paramount") will acquire all of the MGM Energy shares not already owned by it. The Arrangement was approved at a special meeting of shareholders of MGM Energy held [Read more]
‘World’s greenest’ refinery pitched to process oilsands crude on B.C. coast
CALGARY - A Vancouver company is pitching a $10-billion oilsands refinery on British Columbia's north coast that aims to connect Alberta's vast energy resources with Asian markets, while avoiding some of the pitfalls others have encountered.Pacific Future Energy Corp. says the refinery would be the "world's greenest" and built in full partnership with B.C. First Nations, many of whom are vehemently opposed to proposals to ship crude to the West Coast for export.Any day now, Ottawa is expected to [Read more]
Newfoundland government, Statoil to spend $3.9 million on Arctic oil research
ST. JOHN'S, N.L. - Statoil Canada and the province of Newfoundland and Labrador will spend $3.9 million on research into oil and gas operations in Arctic and harsh environments. Statoil will spend $2.4 million on the three new projects while Crown corporation Research and Development Corp. will spend $1.5 million. One project led by Kvaerner Canada Ltd. involves Arctic subsea oil and gas separation and storage technology. Rutter Inc. will help develop a system to automatically detect [Read more]