CALGARY, Feb. 19, 2014 /CNW/ - As previously announced on February 10, 2014, Longview Oil Corp. ("Longview") received an unsolicited non-binding proposal (the "Proposal") from a public oil and gas company (the "Interested Party") to purchase all of the issued and outstanding shares of Longview ("Longview Shares"). Upon receipt of the Proposal, the Board of Directors of Longview (the "Longview Board") appointed a Special Committee of independent directors (the "Special Committee") to consider the [Read more]
News
Devon Energy Announces C$3.125 Billion Sale of Canadian Conventional Assets
OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corporation (NYSE:DVN) today announced that it has entered into a definitive agreement to sell the majority of its Canadian conventional assets to Canadian Natural Resources Limited for C$3.125 billion, or US$2.8 billion using the current exchange rate. The sale excludes the company’s Horn River, Lloydminster and thermal heavy oil assets located in Canada. At December 31, 2013, proved reserves associated with the divestiture totaled approximately 170 [Read more]
Canadian Natural Resources Limited Announces The Acquisition of Certain Canadian Assets of Devon Canada
CALGARY, ALBERTA--(Marketwired - Feb. 19, 2014) - Canadian Natural Resources Limited (TSX:CNQ)(NYSE:CNQ) ("Canadian Natural" or the "Company") announces entering into an agreement relating to the acquisition of Devon Canada's Canadian conventional assets, excluding Horn River and the heavy oil properties, for an aggregate cash consideration of $3.125 billion, effective January 1, 2014, with a targeted closing date of April 1, 2014. The acquired lands and production base are all located in [Read more]
Alexander Energy Ltd. Announces Shareholder Approval of Share Consolidation and Name Change
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2014) - Alexander Energy Ltd. (TSX VENTURE:ALX) ("Alexander" or the "Corporation") is pleased to announce that it will proceed with the previously approved share consolidation and name change. On the effective date, which is expected to be on or about February 28, 2014, the currently outstanding common shares of Alexander (the "Common Shares") will be consolidated on the basis of one new Common Share for four existing Common Shares (the "Consolidation"), [Read more]
CP CEO urges speedy switch to new oil cars
CALGARY - Canadian Pacific Railway Ltd. CEO Hunter Harrison says the "all-mighty dollar" is holding up badly needed changes to rail safety. In a passionate speech to the Calgary Chamber of Commerce, the plain-spoken, Memphis-born railroad veteran says the time for study is over — it's time to get older tank cars off of North American tracks immediately. The ubiquitous DOT-111 cars, built before 2011, have been long criticized for having hulls that are too weak to withstand a crash, but [Read more]
New Brunswick seeks offshore energy accord
FREDERICTON - The government of New Brunswick is seeking an Atlantic Accord of its own as it looks offshore to reverse its economic decline. The province's Progressive Conservative government has set its sights on natural resources with the hope that oil and gas can pump some revenues into its coffers. While the government has been focused on developing a shale gas industry, it has recently turned its attention to its largely unexplored offshore fields. Premier David Alward told a business [Read more]
National Energy Board responds to gas pipeline rupture north of Rocky Mountain House, AB
CALGARY, Feb. 18, 2014 /CNW/ - The National Energy Board (NEB or Board) is responding to a pipeline rupture on the Nova Gas Transmission Ltd (NGTL) pipeline system approximately 10 kilometres north of Rocky Mountain House, AB owned and operated by TransCanada PipeLines Limited (TransCanada). The release was reported to the NEB early this morning. The size of the release has yet to be determined. There is no immediate safety concern for local residents and precautions are being taken to ensure [Read more]
Blackbird Energy and Pennant Energy Announce Arrangement Agreement and Proposed Business Combination
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 18, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird") and Pennant Energy Inc. (TSX VENTURE:PEN) ("Pennant") are pleased to announce that they have entered into an arrangement agreement dated February 17, 2014 (the "Arrangement Agreement"), whereby Blackbird will acquire all of the outstanding shares of Pennant from the shareholders of Pennant (the "Pennant Shareholders") in exchange for shares of Blackbird on the basis of one Pennant [Read more]
Column: Keystone decision all about politics
It all comes down to politicians’ fear of losing their jobs By Rashid Husain Syed TORONTO, ON/ Troy Media/ - The message finally seems to be getting through in Washington. The release of the State Department Review was the final nail in the coffin for any environmental reason to delay a decision on the Keystone XL pipeline. The only remaining impediment is political – and even that is changing. U.S. President Barack Obama is caught between a rock and a hard place – and he knows [Read more]
Traverse Energy Ltd. Announces Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Feb. 18, 2014) - Traverse Energy Ltd. ("Traverse") (TSX VENTURE:TVL) is pleased to announce that it has entered into an agreement with Acumen Capital Finance Partners Limited, pursuant to which Traverse has agreed to issue an aggregate of 12,500,000 common shares ("Common Shares") at a price of $0.80 per Common Share for total gross proceeds of approximately $10,000,000 (the "Offering"). In addition, Traverse has granted an over-allotment option to purchase [Read more]