The TSX Composite is down roughly a 1000 points from a mid-April (and 2015 to date) high of 15,449 amidst uncertainty in Europe over a possible Grexit and weak global oil prices. Greek Prime Minister Alexis Tsipras made a surprise call for a referendum next Sunday that will focus on whether reform proposals the country’s creditors have demanded should be accepted to get access to blocked bailout funds. In the meantime, strict controls have been placed on capital, with Tsipras closing banks [Read more]
News
U.S. Oil Glut An EIA Invention?
In the latest weekly production data from the EIA, on the back of recent March revisions, the U.S. managed to post a 76,000 barrel per day increase in the lower 48. Production from Alaska fell by 61,000 barrels per day, putting overall U.S. output 15,000 barrels per day higher for the week ending June 12 compared to the previous week. This comes at a time when multimillion barrel draws have become the norm. It is important to note that lower 48 production is estimated based on an EIA black [Read more]
Coastal GasLink Pipeline Project Signs Project Agreements with Six British Columbia First Nations
KITIMAT, BRITISH COLUMBIA--(Marketwired - June 29, 2015) - TransCanada (TSX:TRP) (NYSE:TRP) (TransCanada) today announced its Coastal GasLink Pipeline Project has signed project agreements with Wet'suwet'en First Nation, Skin Tyee Nation, Nee-Tahi-Buhn Band, Yekooche First Nation, Doig River First Nation, and Halfway River First Nation, all of northern B.C. These agreements are a positive step for the project and these First Nations, whose traditional and treaty territories are located along the [Read more]
Painted Pony Contracts Firm Long-Term Natural Gas Transportation to Serve Planned Growth in 2016 and Provides Operations Update
CALGARY, ALBERTA--(Marketwired - June 29, 2015) - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX:PPY) is pleased to announce that it has signed a definitive agreement to provide the Corporation with long-term natural gas transportation to serve its growing British Columbia production base. This contract represents a critical step in Painted Pony's plan to develop and deliver 240 million cubic feet equivalent per day ("MMcfe/d") of natural gas and gas liquids volumes by [Read more]
Mapan Energy Ltd. Announces Agreement to Be Acquired by Tourmaline Oil Corp.
CALGARY, ALBERTA--(Marketwired - June 29, 2015) - Mapan Energy Ltd. ("Mapan" or the "Company") (TSX VENTURE:MPG) is pleased to announce that it has entered into an arrangement agreement (the "Arrangement Agreement") with Tourmaline Oil Corp. ("Tourmaline") (TSX:TOU) pursuant to which Tourmaline has agreed to acquire all of the issued and outstanding common shares (the "Mapan Shares") of Mapan on the basis of 0.0379 of a Tourmaline common share ("Tourmaline Shares") for each outstanding Mapan [Read more]
Tourmaline Oil Corp. to Acquire Mapan Energy Ltd. as It Continues Its Deep Basin Consolidation and Growth Strategy
CALGARY, AB--(Marketwired - June 29, 2015) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that it has entered into an agreement with Mapan Energy Ltd. (TSX VENTURE: MPG) ("Mapan") pursuant to which Tourmaline will acquire all of the issued and outstanding common shares of Mapan on the basis of 0.0379 of a Tourmaline common share for each Mapan common share. The acquisition will be effected by statutory plan of arrangement (the "Arrangement"). The [Read more]
Husky Energy Begins Oil Production at South White Rose Extension
CALGARY, AB--(Marketwired - June 29, 2015) - Husky Energy (TSX: HSE) has started production from the South White Rose project in the Jeanne d'Arc Basin offshore Newfoundland and Labrador."South White Rose is Husky's second major subsea satellite tieback following the successful North Amethyst subsea project," said CEO Asim Ghosh. "Both of these projects extend the life of the main White Rose field and use the SeaRose FPSO (floating production, storage and offloading) vessel."The SeaRose has a [Read more]
Surge Energy Inc. Announces Change to Management Team
CALGARY, June 29, 2015 /CNW/ - Surge Energy Inc. ("Surge" or "the Company") announced today that, effective immediately, Mr. Maxwell Lof, Chief Financial Officer, will be leaving the Company to pursue other interests. "Surge would like to thank Max for his contributions during his time with the Company. We wish him all the best in his future endeavours," said Paul Colborne, President and CEO. Surge management's stated goal is to be one of the best positioned light/medium gravity crude oil [Read more]
Sunshine Oilsands Ltd. Announces Operations Update, Re-designation of Directors and Change of Members of Board Committees
CALGARY, Alberta and HONG KONG, June 28, 2015 /CNW/ -- Operations Update The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX: 2012, TSX: SUO) is pleased to announce that West Ells construction is substantially completed with current field activities focused on facilities commissioning and startup preparation. To assure facilities performance and achieve nameplate capacity, management has advised the Board that the period for full [Read more]
New Star Energy Ltd. Announces Shareholder Approval, Receipt of Final Court Order and Entering Into an Amending Agreement to Arrangement Agreement
CALGARY, ALBERTA--(Marketwired - June 26, 2015) - New Star Energy Ltd. ("New Star" or the "Company") is pleased to announce that at the special meeting of shareholders of the Company held on June 25, 2015, shareholders representing approximately 88.60% of the issued and outstanding common shares of New Star ("Shares") have voted 100% in support of the arrangement resolution relating to the proposed plan of arrangement ("Arrangement") between the Company and a Chinese buyer (the "Buyer"), [Read more]