CALGARY, ALBERTA--(Marketwired - Oct. 6, 2015) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announced that it has entered into an agreement for the sale of its non-core Bodo property in eastern Alberta for $95 million. The expected net proceeds from the non-core asset sale will be directed towards reducing Pengrowth's outstanding debt as part of the Company's strategy of strengthening its balance sheet. With the sale of the Bodo asset and including signed letters of intent (LOI's) [Read more]
News
Cardinal Energy Ltd. Closes $105 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Oct. 6, 2015) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce that it has completed its previously announced bought deal financing (the "Offering"). Cardinal, through a syndicate of underwriters co-led by CIBC and RBC Dominion Securities Inc., and including FirstEnergy Capital Corp., GMP Securities L.P., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Macquarie Capital Markets [Read more]
Veresen Announces Approval of the $860 Million Sunrise Gas Plant
CALGARY, ALBERTA--(Marketwired - Oct. 6, 2015) - Veresen Inc. ("Veresen" or the "Company") (TSX:VSN) is pleased to announce that the Cutbank Ridge Partnership ("CRP"), a partnership between Encana Corporation ("Encana") and Cutbank Dawson Gas Resources Ltd., a subsidiary of Mitsubishi Corporation, has sanctioned the 400 million cubic feet per day ("mmcf/d") Sunrise gas plant, to be located in the Montney region near Dawson Creek in northeastern British Columbia. In late 2014, Veresen Midstream [Read more]
Hedging Protections for North American Exploration and Production Companies to Plunge in 2016; Picture Isn’t Pretty, IHS Says
HOUSTON--(BUSINESS WIRE)--Oil and gas hedging protections for North American exploration and production (E&P) companies will plunge in 2016 to just 11 percent of total production volumes, leaving many E&P companies at high risk of financial stress, according to new energy company performance analysis from IHS (NYSE: IHS), the leading global source of critical information and insight. The IHS Energy North American E&P Peer Group Analysis: Hedging Protection Set to Plunge in 2016 assessed the [Read more]
Wild Wind Petroleum Inc. Announces $123 Million Equity Commitment Financing
CALGARY, AB--(Marketwired - October 06, 2015) - The management team of David Beckwermert, Bill Pollock, Bill Kanters, and Twyla Paget-Turcotte today announced the startup of Wild Wind Petroleum Inc. ("Wild Wind" or the "Company") and the closing of an equity financing commitment with Pearl Energy Investments, L.P. ("Pearl") and Natural Gas Partners, through its affiliate, NGP Natural Resources XI, L.P. ("NGP") of $123 million. The Company will be led by David Beckwermert as Executive [Read more]
Is Russia Plotting To Bring Down OPEC?
President Putin's recent moves in the Middle East—to shore up Bashar al-Assad's regime in Syria through deployment of combat aircraft, equipment, and manpower and build-out of air-, naval-, and ground-force bases, and the agreement in the last week with Iran, Iraq, and Syria on intelligence and security cooperation—could contribute to Russian efforts to combat the myriad negative pressures on Russia's vital energy industry. Live by Energy... Energy is the foundation of Russia, its economy, [Read more]
Edmonton police department tries to clarify link between rising crime, oil price
EDMONTON - Edmonton's police force tried to clarify Monday comments its chief made last week that out-of-work oilpatch workers could be to blame for the city's recent rise in crime.On the weekend, the Edmonton Police Service released tables and charts that it said shows monthly crime statistics in Edmonton climbing over the past 12 months as oil prices dropped to record lows.On Monday, deputy chief Brian Simpson spoke to reporters on the steps of police headquarters.“It’s not linked to oil [Read more]
Shoreline Energy Corp. Enters Into Plan of Sponsorship and Reorganization Agreement With Highbridge Energy Inc.
CALGARY, ALBERTA--(Marketwired - Oct. 5, 2015) - Shoreline Energy Corp. ("Shoreline" or the "Company") announced today that the Company has entered into a Plan of Sponsorship and Reorganization Agreement with Highbridge Energy Inc. ("Highbridge"), a private Alberta company. Pursuant to Shoreline's application under the Companies' Creditors Arrangement Act (the "CCAA"), Shoreline is currently subject to an order dated April 13, 2015 granted by the Court of Queen's Bench of Alberta (the [Read more]
Oil and gas industry can cut methane emissions 45% with current tech: report
CALGARY - A new report commissioned by an environmental group says Canada's oil and gas industry could reduce methane emissions by 45 per cent using existing technology.The study, carried out by energy industry research firm ICF International, found that the industry could eliminate the equivalent of 27 million tonnes of carbon dioxide emissions at a cost of $2.76 per tonne.The Environmental Defense Fund says that means that for a theoretical investment of $726 million, the industry could [Read more]
Groundstar Resources Limited Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Oct. 5, 2015) - Groundstar Resources Limited ("Groundstar" or the "Company") (TSX VENTURE:GSA) is pleased to announce that it has filed its unaudited interim financial statements and accompanying Management's Discussion and Analysis for the three month period ended July 31, 2015. These statements are available on the Company's SEDAR profile at www.sedar.com. As previously disclosed, as a result of the remedial accounting efforts completed by the Company in [Read more]