It had long been conventional wisdom that midstreamers were the most insulated from the current downturn. That view is sadly in the stage of being undone, with Enbridge and TransCanada announcing cuts. Thus, industry layoffs now affect the full panoply of the Albertan oil & gas industry, from oil field services to E&P to midstream. And regrettably, where there is breadth there will soon be depth, because cuts beget more cuts. Yes, not all midstreamers are alike. They vary [Read more]
News
Eagle Energy Trust Announces the Acquisition of Maple Leaf Royalties Corp. and Conversion to a Dividend-Paying Corporation
CALGARY, ALBERTA--(Marketwired - Nov. 20, 2015) - Eagle Energy Trust (the "Trust" or "Eagle") (TSX:EGL.UN) is pleased to announce that it has entered into a binding agreement (the "Arrangement Agreement") to acquire Maple Leaf Royalties Corp., ("Maple Leaf") by way of a plan of arrangement (the "Arrangement"). Under the Arrangement, Eagle will acquire all the issued and outstanding shares of Maple Leaf and convert into a corporation ("New Eagle"). Maple Leaf holds oil [Read more]
Trans Mountain price tag rising on currency swings, project changes, delays
CALGARY - The Trans Mountain pipeline expansion is getting more expensive, but the company planning to build it says the economic case for the project is still strong.Kinder Morgan, the U.S. company behind the pipeline project, doesn't yet have a formal estimate of how the price tag has changed since its regulatory application was filed in December 2013.Back then, the company was expecting a cost of $5.4 billion and its estimates for the economic impacts of the project were based on that [Read more]
Marquee Energy Announces Changes to Board of Directors
CALGARY, AB--(Marketwired - November 19, 2015) - Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE: MQL) announces that following today's third quarter Board of Directors meeting, Mr. Jim Wilson has resigned his positions as Member of the Board of Directors and Chairman of the Audit Committee due to requirements associated with his recent acceptance of an executive position with another oil and gas company. The Company thanks Mr. Wilson for his efforts and service and wishes him [Read more]
Marquee Energy Ltd. Announces Operational Update and Third Quarter 2015 Financial Results
CALGARY, AB--(Marketwired - November 19, 2015) - Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE: MQL) announces its third quarter operational results and financials for the three and nine months ended September 30, 2015. The Company's financial statements and Management's Discussion and Analysis ("MD&A") for the three months ended September 30, 2015 are available on SEDAR at www.sedar.com and on Marquee's website at www.marquee-energy.com.OPERATIONS UPDATEMarquee has completed its [Read more]
Rock Energy Inc. Receives Requisition for Special Meeting of Shareholders
CALGARY, ALBERTA--(Marketwired - Nov. 19, 2015) - Rock Energy Inc. (TSX:RE) ("Rock" or the "Corporation") announces that it has received a requisition of a special meeting of shareholders dated November 19, 2015 to replace three (3) of the current directors of the Corporation (the "Requisition") made by FrontFour Master Fund Ltd., a party that holds in excess of 5% of the outstanding Rock common shares. The Board of Directors (the "Board") of Rock has formed a special committee of its [Read more]
Relentless Announces Financial and Operating Results for the Three and Nine Months Ended September 30, 2015
CALGARY, ALBERTA--(Marketwired - Nov. 19, 2015) - Relentless Resources Ltd. ("Relentless" or "the Company") (TSX VENTURE:RRL) announces that it has issued its September 30, 2015 unaudited condensed interim financial statements and related MD&A. Additional information about Relentless is available on SEDAR at www.sedar.com or on the Company`s website at www.relentless-resources.com. Corporate Update Relentless averaged 286 boe/d (57% oil and liquids) in Q3 2015, up 32% from the [Read more]
Trilogy Energy Corp. Announces the Sale of Certain Duvernay Assets for US$85 Million and Updates Capital Expenditure Guidance and Borrowing Base Levels
CALGARY, ALBERTA--(Marketwired - Nov. 19, 2015) - Trilogy Energy Corp. ("Trilogy") (TSX:TET) announced today that it has entered into a definitive agreement to sell 11 net sections of its Duvernay mineral rights in the volatile oil window of its Kaybob Duvernay play for cash consideration of US$85 million. In connection with the sale, and in an effort to consolidate Trilogy's Duvernay land position, Trilogy will also swap 5.25 net sections of its Duvernay undeveloped lands for an equivalent [Read more]
Alberta November 18 Land Sale Earns $20.59 Million
Yesterday's Alberta Land Sale results were the highest total since March 3, 2015, when the total was $40.9 million. The Alberta total so far for 2015 is $279.3 million. This time last year the cumulative land sale total was 62% higher at $453.7 million. There were 30 successful bidders that picked up 62 separate parcels for a total of 23,057 hectares. The average bid price was $893.01 per hectare. The largest amount paid for a single parcel was $5.59 million for 4 sections in the [Read more]
Wildrose says ailing Alberta economy shouldn’t be punished further by carbon tax
EDMONTON - Alberta's Opposition leader is accusing Premier Rachel Notley's New Democrats of letting Ottawa push the province around on its climate- change strategy.Wildrose Leader Brian Jean noted in question period that federal Environment Minister Catherine McKenna is promising that a new national target for greenhouse-gas reductions will soon be set in consultation with the provinces."Why should Ottawa be allowed to interfere with how we run our industries?" Jean asked Notley."A Trudeau [Read more]