CALGARY, ALBERTA--(Marketwired - June 29, 2015) - Striker Exploration Corp. ("Striker" or the "Company") (TSX VENTURE:SKX) is pleased to announce as a result of the scheduled review by Striker's syndicate of Canadian chartered banks, the aggregate lending limit of the existing banking facilities remain unchanged at $55 million. The facilities consist of a $40 million revolving term facility, plus a $15 million revolving operating facility. Both facilities are to be reviewed by the lending [Read more]
News
Cenovus sells royalty business for $3.3 billion
Sale to significantly strengthen company's balance sheet CALGARY, June 30, 2015 /CNW/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to sell Heritage Royalty Limited Partnership (HRP), a wholly-owned subsidiary, to Ontario Teachers' Pension Plan (Teachers') for gross cash proceeds of approximately $3.3 billion. HRP holds approximately 4.8 million gross acres of royalty interest and mineral fee title lands in Alberta, Saskatchewan and Manitoba. In the first quarter of 2015, [Read more]
Spotlight on Petrus Resources
Alberta is home to many public oil and gas companies, but also to a wide variety of private oil and gas companies that don't make the news as much as their public counter-parts. With the intention of shedding light on a notable private upstream company, today we at the BOE Report wish to put a spotlight on Petrus Resources. Stay tuned for more company profiles as we seek to spread the word on notable private oil and gas companies in Western Canada. Petrus Resources Petrus Resources Ltd. is [Read more]
Pengrowth Ships First Lindbergh Production on the Husky Sales Line, Reports Continued Strength in Lindbergh Production and Intent to Sell Up to $600 Million of Non-Core Assets
CALGARY, ALBERTA--(Marketwired - June 29, 2015) - Pengrowth (TSX:PGF)(NYSE:PGH) is pleased to report that construction and commissioning of its insulated sales line connecting the Lindbergh commercial facilities with the Husky pipeline, has been completed on time. Production from the commercial facilities has now been tied-in to the sales line, providing Pengrowth with additional transportation/marketing optionality. Pengrowth still retains the option to move production by rail to markets in an [Read more]
Lone Pine Set to Establish Second Core Area Through Large-Scale Lease Issuance and Drilling Commitment Agreement
CALGARY, ALBERTA--(Marketwired - June 29, 2015) - Lone Pine Resources Canada Ltd. ("Lone Pine" or the "Company") is pleased to announce that it has entered into a Lease Issuance and Drilling Expenditure Commitment Agreement (the "Agreement") with a public royalty company ("Royalty Company"), whereby Lone Pine will acquire petroleum and natural gas leases for 100% working interest on approximately 108 sections (approximately 69,000 acres) in the Wheatland area of Southeast Alberta (the "Lands" or [Read more]
Twin Butte Energy Provides Operations Update and Announces Renewal of Credit Facility
CALGARY, June 29, 2015 /CNW/ - Twin Butte Energy Ltd. (TSX:TBE) ("Twin Butte" or the "Company") is pleased to provide an operations update and announce the renewal of its credit facility. Operations Update: Twin Butte shut down drilling activity in mid-February in response to low oil prices and resumed in early June with one rig active in the Provost area. This rig is scheduled to stay in Provost drilling Dina/Cummings, Sparky and Lithic channel prospects into Q4. Based upon field [Read more]
New York formalizes ban on fracking, ending 7-year environmental and health review
ALBANY, N.Y. - New York formalized its ban on high-volume hydraulic fracturing for natural gas on Monday, concluding a seven-year environmental and health review that drew a record number of public comments."After years of exhaustive research and examination of the science and facts, prohibiting high-volume hydraulic fracturing is the only reasonable alternative," Department of Environmental Conservation Commissioner Joe Martens said in announcing the decision. "High-volume hydraulic fracturing [Read more]
Greek uncertainty sends TSX, WTI tumbling
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]
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]