HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) achieved a significant milestone at its Surmont oil sands project in Canada with the on-schedule start of first steam at phase 2 on May 29. Surmont uses steam-assisted gravity drainage (SAGD) to recover the bitumen. This technique requires the reservoir to be heated with steam to allow the oil to flow. First steam is a significant step toward production, or first oil, expected by third quarter this year. Production will ramp-up through [Read more]
News
Connacher Announces Management and Board Changes
CALGARY, June 3, 2015 /CNW/ - Connacher Oil and Gas Limited (CLC - TSX; "Connacher" or the "Company") today announced that Brent de Jong, currently Chairman and a director of Connacher, has been appointed Interim Chief Executive Officer, replacing Christopher Bloomer who resigned as Chief Executive Officer and a director of Connacher. Connacher wishes to thank Mr. Bloomer for his significant contributions to the Company and wishes him the very best in his future endeavours. Mr. de Jong has [Read more]
Tamarack Valley Energy Ltd. Closes Its Bought Deal Financings
CALGARY, ALBERTA--(Marketwired - June 3, 2015) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce that it has completed its previously announced bought deal public offering of subscription receipts of the Company ("Subscription Receipts"), bought deal public offering of common shares of the Company ("Offered Shares") and bought deal private placement offering of common shares of the Company issued on a flow-through basis ("Flow-Through Shares") [Read more]
MEG Energy resuming normal planned maintenance and normal staffing levels at Christina Lake production facilities
CALGARY, ALBERTA--(Marketwired - June 3, 2015) - MEG Energy Corp. (TSX:MEG) reports that it is now re-starting planned maintenance activities and resuming normal operational staffing levels at its Christina Lake facilities, with contractors and staff returning to the site in stages over the next several days. Non-essential staff, including contractors working on MEG's planned maintenance turnaround, had been moved off site on May 25 as a precautionary measure in response to a forest fire to the [Read more]
Arcan Plan of Arrangement Approved by Shareholders and Court
CALGARY, ALBERTA--(Marketwired - June 2, 2015) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") is pleased to announce that the proposed plan of arrangement (the "Arrangement") involving the acquisition of Arcan by Aspenleaf Energy Limited ("Aspenleaf") was approved at the special meeting of shareholders called to consider the Arrangement, and has been approved by the Alberta Court of Queen's Bench (the "Court"). The shareholder meeting was held in accordance with the [Read more]
Ivanhoe Energy Unable to Reach Agreement on Restructuring Proposal
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 2, 2015) - Ivanhoe Energy Inc. announced today that, despite considerable efforts by the company, the Proposal Trustee (Ernst & Young Inc.) and major creditors of the company, the parties have been unable to reach a viable restructuring proposal under the Bankruptcy and Insolvency Act (BIA) (Canada). As previously disclosed on February 20, 2015, the company filed a Notice of Intention to Make a Proposal (Notice of Intention) pursuant to the [Read more]
Canbriam Energy announces closing of private offering of US$101 million of senior unsecured notes
CALGARY, June 2, 2015 /CNW/ - Canbriam Energy Inc. ("Canbriam") announces that it has closed an add-on private offering of US$101 million in aggregate principal amount of 9.75% senior unsecured notes due 2019 ("the Notes"). The Notes were offered and sold in the United States to qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended. The Notes were issued pursuant to an indenture dated as of November 14, 2014 and sold at 103% of [Read more]
Canamax Announces Strategic Montney Oil Focused Acquisition Further Consolidating Its Greater Grimshaw Area
Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE:CAC) is pleased to announce that it has entered into a binding purchase and sale agreement with an intermediate oil and gas company to acquire certain assets in Alberta (the "Acquisition") for cash consideration of $24.0 million, subject to customary closing adjustments. The Acquisition is expected to close on or before July 31, 2015. The assets to be acquired consist primarily of two producing properties located in northwest Alberta [Read more]
Tourmaline Oil Corp. Increases Size of Bought Deal Financing
CALGARY, AB--(Marketwired - June 02, 2015) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that in connection with its previously announced bought-deal financing, Tourmaline and the syndicate of underwriters led by led by Peters & Co. Limited and including FirstEnergy Capital Corp., Scotia Capital Inc., CIBC, National Bank Financial Inc., TD Securities Inc., RBC Capital Markets, and Raymond James Ltd. have agreed to increase the size of the financing. [Read more]
Manitok Energy Inc. Announces Financial Results for the First Quarter of 2015 and Update on Its Proposed Acquisition
CALGARY, ALBERTA--(Marketwired - June 1, 2015) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) announces its financial and operating results for the first quarter of 2015. The full text of Manitok's first quarter report containing its unaudited condensed interim financial statements as at and for the three months ended March 31, 2015 and the related management's discussion and analysis are available electronically on Manitok's profile on the System for Electronic [Read more]