ST. JOHN'S, N.L. - Premier Paul Davis made waves Tuesday with talk of a term sheet "in coming weeks" for the next big oil project off Newfoundland and a new royalty regime to speed offshore development."'We can't say there will be a term sheet until there is one but we're very confident in the process," Davis said of negotiations with Statoil ASA of Norway to develop its Bay du Nord prospect.Hopes for the province's economically vital offshore sector are pinned on exploration and oil production [Read more]
News
Marquee Energy Announces Board of Directors Appointments and Summer Drilling Program
CALGARY, June 15, 2015 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: MQL) is pleased to announce the appointment of Mr. Glenn Carley as Chairman of the Board of Directors. Mr. Carley has served as a Director on Marquee's Board since December 2011. He also currently serves as Chairman of Painted Pony Petroleum Ltd. The Company is also pleased to announce the appointment of Mr. James Wilson to the Board of Directors effective immediately, subject to TSX Venture Exchange [Read more]
2,600 more oilpatch job losses coming: industry association report
CALGARY - An industry group says low commodity prices and regulatory uncertainty will mean even greater job losses in the oilpatch this year than it previously predicted.The Canadian Association of Oilwell Drilling Contractors has revised its January jobs forecast and now predicts nine per cent more job losses — equivalent to about 2,600 positions — because of an expected 13 per cent further drop in operating days.The association is now forecasting there will be 25,110 fewer jobs this year than [Read more]
PrairieSky Announces Bought Deal Equity Offering
CALGARY, ALBERTA--(Marketwired - June 15, 2015) - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX:PSK) has today entered into an agreement with a syndicate of underwriters led by CIBC, under which the underwriters have agreed to buy 5,760,000 common shares of the Company ("Common Shares") and sell to the public at a price of $31.25 per Common Share, resulting in aggregate gross proceeds to the Company of approximately $180 million. The Company has granted the underwriters [Read more]
Baytex Confirms Monthly Dividend for June at $0.10 Per Share and the Addition of A Premium Dividend(TM) Component to Its Dividend Reinvestment Plan
CALGARY, ALBERTA--(Marketwired - June 15, 2015) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) reports that a cash dividend of $0.10 per common share in respect of June operations will be paid on July 15, 2015 to shareholders of record on June 30, 2015. The ex-dividend date is June 26, 2015. This dividend is an eligible dividend for the purposes of the Income Tax Act (Canada). The U.S. dollar equivalent dividend amount is approximately US$0.0813 per share assuming a foreign [Read more]
TORC Oil & Gas Ltd. Announces Closing of Strategic Acquisition in Southeast Saskatchewan
CALGARY, June 15, 2015 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX:TOG) is pleased to announce the closing of the acquisition of complementary light oil producing assets in southeast Saskatchewan. The strategic acquisition (the "Acquisition") includes 4,750 boepd (~98% light oil and liquids) of low decline, high netback, light oil producing assets in southeast Saskatchewan and Manitoba (the "Acquired Assets"). In addition, the Acquired Assets include ownership of freehold mineral [Read more]
Surge Energy Inc. announces successful closing of strategic C$430 million asset sale; and determination of new bank line.
CALGARY, June 15, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces that the Company has successfully closed its previously announced $430 million sale of assets in SE Saskatchewan and Manitoba. Surge also had its bank line confirmed by the Company's bank syndicate at $425 million – post the sale of assets described above – with current net debt of approximately $122 million. In the higher crude oil price environment from May, 2013 to October, 2014, Surge management [Read more]
Groundstar Resources Limited Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - June 15, 2015) - Groundstar Resources Limited ("Groundstar" or the "Company") (TS XENTURE:GSA) is pleased to provide an update with respect to the ongoing restructuring of the Company. As previously announced, the Board of Directors now consists of Tyron Pfeifer, Dale Hammons and Murray Stodalka with Mr. Pfeifer acting as Chief Operating Officer. There are no other directors or officers of the Company at this time. The Company is currently looking to add a new [Read more]
Tamarack Valley Energy Ltd. Closes $43.3 Million Wilson Creek Asset Acquisition
CALGARY, ALBERTA--(Marketwired - June 15, 2015) - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX VENTURE:TVE) is pleased to announce that it has successfully completed its previously announced acquisition of certain assets located in the greater Wilson Creek area of Alberta (the "Primary Acquisition"), contiguous with Tamarack's existing Cardium interest in Wilson Creek, for an aggregate purchase price of $43.3 million, subject to normal closing adjustments. In addition to the [Read more]
Kelt increases planned 2015 capital expenditures in British Columbia, provides operations update and announces $78.8 million equity financings
Stock Symbol "KEL" – TSX CALGARY, June 15, 2015 /CNW/ - Kelt Exploration Ltd. ("Kelt" or the "Company") has expanded its capital expenditure budget to $497 million for 2015, up $40 million from $457 million. Excluding the corporate acquisition that was completed on April 16, 2015, forecasted capital expenditures have been increased by 23% from $150.0 million to $185.0 million. The increased spending is expected to result in the drilling of 18 gross (15.7 net) wells during the year, with the [Read more]