CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Quattro Exploration and Production Ltd. ("Quattro" or the "Company") (TSX VENTURE:QXP) is pleased to announce that it has closed an arms-length agreement (the "Purchase and Sale Agreement" or "PSA") with an Alberta-based private oil and gas exploration and production company for the acquisition of certain oil and gas interests in Central Alberta, NW Alberta, NE British Columbia and Saskatchewan (the "Acquisition"). The foundation of the [Read more]
News
New Brunswick to proceed with shale gas industry, premier vows in throne speech
FREDERICTON - New Brunswick's Progressive Conservative government is promising to forge ahead with shale gas development as it enters the final year of its mandate, shrugging off fierce opposition from critics who are accusing it of ignoring their concerns.Premier David Alward placed an emphasis on resources development in what is expected to be his final throne speech before an election set for September 2014.Alward said while the industry is only in the exploration phase, there will be [Read more]
Enbridge applies to build $2.6B pipeline, largest yet from N. Dakota’s booming oil patch
BISMARCK, N.D. - A Canadian company has applied to build the largest oil pipeline yet from western North Dakota's booming oil patch and will soon begin courting oil producers to reserve space, a key step in a $2.6 billion project that would move millions of gallons of oil to Minnesota and Wisconsin.Calgary, Alberta-based Enbridge Energy is proposing the 612-mile Sandpiper pipeline to each day carry 225,000 barrels of oil to a hub in northern Minnesota and 375,000 barrels to one in northwestern [Read more]
B.C., Alberta premiers reach agreement on pipeline deal
VANCOUVER - The premiers of British Columbia and Alberta say they're prepared to work through some of the differences that stand in the way of the proposed Enbridge Northern Gateway pipeline, but they've effectively agreed to drop the most contentious issue: B.C.'s demand for a share of the revenue associated with the project. B.C. Premier Christy Clark and Alberta Premier Alison Redford have had an uneasy relationship since Clark outlined five conditions to win her support for the [Read more]
Athabasca Oil Corporation CRA Review Concluded
CALGARY, Nov. 5, 2013 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or "the Company") is pleased to advise that the Company has received confirmation from the Canada Revenue Agency ("CRA") that no adjustments are warranted with respect to the audit of its 2009/2010 taxation years. As previously disclosed, Athabasca has been undergoing tax related reviews regarding the capital treatment of its February 2010 PetroChina transaction and its March 2010 capital dividend. "This is good [Read more]
Twin Butte Energy completes acquisition of private oil producer
CALGARY, Nov. 5, 2013 /CNW/ - Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") is pleased to announce that the acquisition of Black Shire Energy Inc. ("Black Shire") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) was completed today (the "Acquisition") for total consideration of approximately $358.0 million, including the assumption of approximately $107.6 million of net debt. Total cash of $138 million was allocated to former Black Shire [Read more]
Encana cutting workforce by 20 per cent, slashing dividend in new strategy
CALGARY - Canadian natural gas giant Encana Corp. says it will cut its workforce by 20 per cent, slash its dividend, close its office in Plano, Texas, and spin off a large portion of its Alberta assets into a new public company. Encana didn't say how many jobs will be cut during the reorganization but said it would consolidate its office locations in Calgary and Denver. As of late 2012 it had about 650 corporate staff out of a total workforce of nearly 4,200 in Canada and the United [Read more]
Marquee Energy Ltd. Announces Deleveraging Transaction with Sonde Resources and Consolidation of Oil Focused Michichi Core Area
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE:MQL) and Sonde Resources Corp. ("Sonde") (TSX:SOQ)(NYSE MKT:SOQ) are pleased to announce that they have entered into an agreement (the "Arrangement Agreement") whereby Marquee will acquire substantially all of the Western Canadian assets of Sonde, including all of its Southern Alberta properties (the "Assets"), (the "Transaction"). The Assets are primarily located in Marquee's [Read more]
Long Run Exploration Ltd. Announces Resignation of Director
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Long Run Exploration Ltd. ("Long Run" or the "Corporation") (TSX:LRE) announces the resignation of Mr. Michael McGovern from the Board of Directors effective immediately. On behalf of the Board of Directors and staff of Long Run, Bill Andrew, Chair and CEO, wishes to thank Mr. McGovern for his valuable contributions as a Director of Long Run and its predecessor company during the course of his tenure. Long Run is a [Read more]
Renegade Petroleum Ltd. Announces Appointment of New Board Members and Engagement of Executive Search Firm and Proxy Solicitation Firm
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) is pleased to announce that Renegade has: further strengthened its board of directors through the addition of three new experienced, skilled and independent directors: Messrs. Donald Copeland, Joseph Durante and Peter Burnham; engaged one of the energy sector's premier executive search firms to assist and enhance the Renegade board's efforts to [Read more]