CALGARY - Midstream natural gas company Keyera Corp. (TSX:KEY) is spending $120 million to construct a 90-kilometre, 12-inch sour gas gathering pipeline in northwestern Alberta. The Calgary-based company said Monday the sour gas gathering pipeline will run from the Wapiti region to the company's Simonette gas plant located northwest of Edson, Alta. Construction is slated to begin in the fall of 2013, and expected to be in service by the second quarter of 2014, pending regulatory [Read more]
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Terra Energy Announces Extension to its Credit Facility
CALGARY, ALBERTA--(Marketwired - April 8, 2013) - Terra Energy Corp. ("Terra" or the "Company") (TT.TO) announces the extension of the existing credit facility (the "Credit Facility"). The Company has agreed with its syndicate of senior lenders, consisting of the Canadian Imperial Bank of Commerce and ATB Financial, to amend the existing Credit Facility and extend it through to July 31, 2013. Terra is a junior oil and gas corporation engaged in the exploration for, and development and [Read more]
NuVista Energy Ltd. Announces Long Term Gas Processing Agreement for Wapiti Montney Production
CALGARY, ALBERTA--(Marketwired - Apr 8, 2013) - NuVista Energy Ltd. ("NuVista")(NVA.TO) is pleased to announce that it has reached an agreement with Keyera Corp. ("Keyera") for the transportation and processing of its Wapiti Montney condensate-rich natural gas production. The companies have agreed to a 10 year arrangement with an initial firm capacity of 35 MMcf/d of raw natural gas production commencing in the second quarter of 2014, and increasing to 65 MMcf/d potentially as early as late [Read more]
Advantage Announces New Natural Gas Commodity Price Hedges
(TSX: AAV, NYSE: AAV) CALGARY , April 8, 2013 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") announces that it has entered into new natural gas commodity price hedges for 2014 to 2016. These hedges will provide cash flow stability to support our capital program that will focus on doubling production at Glacier to 200 mmcf/d by Q1 2015. Advantage has now hedged the following average production volumes at the corresponding averages prices for the periods as [Read more]
Tuscany International Drilling Inc. Announces Hiring of Financial Advisors to Conduct Review of Strategic Alternatives
CALGARY, ALBERTA--(Marketwired - April 8, 2013) - Tuscany International Drilling Inc. ("Tuscany" or the "Company") (TSX:TID) (COLOMBIA:TIDC) is a Canadian-based oilfield services company, offering drilling, completion and workover services to the international oil and natural gas industry. The Board of Tuscany announces that it has retained Citigroup Global Markets Inc. ("Citi") and Black Spruce Merchant Capital Corp. ("BSMC") as its financial advisors to consider a range of potential [Read more]
Iron Lady dies at 87
LONDON (AP) -- Margaret Thatcher, the "Iron Lady" who infuriated European allies, found a fellow believer in Ronald Reagan and transformed her country by a dedication to free markets in 11 years as prime minister, has died. She was 87 years old. Here are the milestones in the life and career of Britain's former Prime Minister Margaret Thatcher: Oct. 13, 1925: Born at Grantham, central England. June 1947: Graduates from Oxford with a chemistry degree. Dec. 13, 1951: Marries Denis [Read more]
GE to buy Lufkin Industries for about $3B
NEW YORK (AP) — General Electric has agreed to buy oilfield equipment maker Lufkin Industries for $3 billion, as GE takes steps to grow its oil and gas operations. GE said Monday that it would pay Lufkin shareholders $88.50 per share in the all-cash deal, a 38% premium over Lufkin's closing price Friday of $63.93. With 33.1 million Lufkin shares outstanding, that would value Lufkin at about $3 billion. The companies valued the deal at $3.3 billion. GE CEO Jeff Immelt is in the process [Read more]
Anterra Completes $7 Million Financing With LandOcean
CALGARY, ALBERTA--(Marketwired - April 8, 2013) - Anterra Energy Inc. (TSX VENTURE:AE.A) ("Anterra" or the "Company") is pleased to announce that the previously announced financing with LandOcean Energy Services Co. Ltd ("LandOcean") of Beijing, China has now been completed. LandOcean's subsidiary, LandOcean Resources Investment Canada Co. Ltd., has acquired 107,692,308 Class A shares of Anterra at a price of $0.065 per share, which represents 27.6% of Anterra's outstanding Class A [Read more]
Enbridge, EDF Energies buy $600-million Alberta wind project from Greengate
By The Canadian Press TORONTO - Enbridge Inc. (TSX:ENB.TO ) and a subsidiary of EDF Energies Nouvelles have teamed up to buy the Blackspring Ridge wind project in Alberta on a 50-50 basis. The project was acquired from Greengate Power Corp., which says Blackspring Ridge represents a $600-million investment in wind energy. Financial details of the transaction weren't disclosed in Monday's announcement. When completed, it will have 166 turbines — making it the biggest wind power [Read more]
DeeThree Exploration Ltd. Announces a 1580 bbl/d Brazeau Belly River Oil Test
CALGARY, ALBERTA--(Marketwired - April 8, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES DEETHREE EXPLORATION LTD. ("DeeThree" or the "Company") (DTX.TO)(DTHRF) is pleased to announce the results of a four day production test of its most recent horizontal Belly River oil well in its Brazeau property. The Company has a 100% working interest in the well. After fracture stimulation, the well continued to flow for four days up the 4 1/2" frac [Read more]