CALGARY, ALBERTA--(Marketwired - July 10, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today launched an Open Season to offer additional binding commitments to interested parties for transportation of crude oil on the Keystone Pipeline System from Hardisty, Alberta to markets on the U.S. Gulf Coast. The Keystone Pipeline System, at over 4,200 kilometres (2,600 miles), is one of the most extensive crude oil pipeline systems in North America, currently delivering to key [Read more]
News
NEB approves Alliance Pipeline's new services and related tolls and tariffs
CALGARY, July 9, 2015 /CNW/ - The National Energy Board (NEB) has approved Alliance Pipeline's new services and their associated terms and conditions as well as the proposed firm tolls. In May 2014, Alliance applied to the NEB requesting approval to implement new services and related tolls and tariffs to commence in December 2015. These new services included fixed tolls for medium- and long-term services as well as flexibility for shippers to choose services specific to their needs. The [Read more]
Canamax Closes Private Placement – Raises Gross Proceeds of $15.4 Million
CALGARY, AB--(Marketwired - July 09, 2015) - Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) is pleased to announce that the Company has closed its previously announced private placement financing (the "Offering"), pursuant to which the Company has issued: (i) 21,724,268 Subscription Receipts at a price of $0.60 per Subscription Receipt (the "Subscription Receipts Offering"); and (ii) 3,618,893 common shares of the Company ("Common Shares") on a "flow-through" basis pursuant [Read more]
Policy-makers need to strike balance in setting carbon emission goals: CEOs
CALGARY - Governments needs to set a clear vision on energy goals and then let private enterprise figure out how to get there, according to the chief executives of two major North American energy companies.Greg Abel, head of Berkshire Hathaway Energy, and Doug Suttles, CEO of Encana Corp., were speaking at a Chamber of Commerce event in Calgary.Both are looking to see what kind of targets will emerge in Alberta and elsewhere as governments become more proactive in tackling carbon emissions.But [Read more]
Enbridge executive says he hopes Line 9 pipeline begins shipping oil this year
CALGARY - An Enbridge executive says he hopes the company will be allowed to start shipping crude to Montreal through its Line 9 pipeline later this year.But senior vice-president Vern Yu says there should be more clarity on the timeline when Enbridge reports its second quarter-earnings within the coming weeks.Work to reverse the flow of Line 9 between southern Ontario and Montreal was completed last fall, but Enbridge was been waiting for the National Energy Board to allow it to start up.The [Read more]
Don’t Panic, Nothing Has Really Changed In The Oil Markets
Monday's 8% WTI crude decline is setting up a big opportunity for buyers. And there could be more to come. But this is driven by momentum, not by the fundamental conditions in the physical market. To the point: Demand is heading towards record levels both internationally and in the U.S. The Greek issue is not new and it has not changed. It is just popular now as deadlines are pushed. It will fade and its drag on oil prices will ease. The Chinese stock market is either correcting [Read more]
Bonterra Energy Corp. Announces Closing of $31 Million Private Placement
CALGARY, ALBERTA--(Marketwired - July 8, 2015) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) ("Bonterra" or the "Corporation") is pleased to announce that it has closed its private placement of common shares to existing holders at a price of $32.00 per share, successfully raising aggregate gross proceeds of approximately $31.0 million (the "Offering"), prior to deduction of costs and fees incurred of approximately $250,000. The common shares issued in connection with the Offering [Read more]
Magnum Hunter Resources Announces Commitment to Amend Its Senior Secured Revolving Credit Facility
IRVING, TX--(Marketwired - Jul 8, 2015) - Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (the "Company" or "Magnum Hunter") announced today that it has received and accepted a firm commitment (the "Commitment") from Bank of Montreal, which is the administrative agent and lead lender under the Company's senior secured revolving credit facility (the "Facility"), to (i) consent to certain amendments and waivers with respect to the [Read more]
Calgary-based Chevron Canada Resources confirms plans to cut 130 jobs
CALGARY - Chevron Canada Resources has confirmed it is laying off 130 people as it restructures operations.Chevron spokesman Leif Sollid says the cuts are part of the company's efforts to establish a competitive foundation in its key focus areas of Alberta, British Columbia and Newfoundland and Labrador, but declined to provide further details.The job cuts amount to about 20 per cent of the company's workforce of more than 600 full-time employees.Calgary-based Chevron Canada Resources has [Read more]
Mountainview Energy Ltd. Announces Credit Facility Maturity and New Term Negotiations
CUT BANK, MT, July 7, 2015 /CNW/ - Mountainview Energy, Ltd. ("Mountainview" or the "Company") (TSX-V: MVW) announces the Credit Facility issued to a wholly owned subsidiary of Mountainview, Mountain Divide, LLC, with outstanding principal in the amount of $49,000,000 has matured and remains unpaid as of July 1, 2015. Mountainview has previously disclosed certain Credit Facility covenant breaches and default events in its year end 2014 and first quarter 2015 financial statements. Although the [Read more]