CALGARY, ALBERTA--(Marketwired - June 30, 2015) - Gear Energy Ltd. ("Gear") (TSX:GXE) announces an amended credit facility following a semi-annual review by its bank syndicate and a new executive appointment. The credit facility has been amended to a borrowing base of $90 million, a reduction from its previous $130 million borrowing base. The reduction is primarily a result of reduced commodity pricing and had been anticipated at the beginning of 2015, with Gear proactively reducing debt [Read more]
News
Virginia Hills Oil Corp. Announces Stock Option Grant
CALGARY, ALBERTA--(Marketwired - June 30, 2015) - Virginia Hills Oil Corp. ("Virginia Hills" or the "Company") (TSX VENTURE:VHO) is pleased to announce that it has granted 157,793 stock options to Mr. Mark Mallamo, Vice President, Exploration at an exercise price of $0.255. The stock options have been granted pursuant to Virginia Hills' stock option plan and one third of the options granted will vest on each of the first, second and third anniversaries of the date of grant. Subsequent to this [Read more]
Saturn Minerals Inc. Receives Proposal for a 4 Oil Exploration Well Drilling Program at Bannock Creek
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 30, 2015) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce that the Company has received a proposal from its Joint Venture Partner ("JV Partner") for the Bannock Creek Property (Petroleum Exploration Permit 72) for a 4 well drilling program starting in July 2015. Saturn's Bannock Creek Property is located in the Northern Williston Basin in Saskatchewan. The exploration oil well program [Read more]
TransCanada: Alberta’s tougher CO2 rules bolster case for Keystone XL
CALGARY - TransCanada wants the U.S. State Department to include recent Canadian climate change announcements in its review of the Keystone XL pipeline, arguing those developments bolster the case for the long-delayed project.The Calgary-based pipeline builder outlined its rationale in a letter sent Monday to Secretary of State John Kerry and other U.S. officials as the U.S. regulatory process nears its seventh anniversary."We are asking the U.S. State Department to consider these recent [Read more]
NEB approves Quicksilver's export licence
CALGARY, June 30, 2015 /CNW/ - The National Energy Board (NEB) has approved the application of Quicksilver Resources Canada Inc. (Quicksilver) for a 25 year natural gas export licence with a maximum term quantity of 733 billion cubic metres 1 . The issuance of this licence is subject to the approval of the Governor in Council. When evaluating natural gas and LNG export licence applications, the NEB considers if the quantity of gas proposed to be exported is surplus to Canadian requirements, [Read more]
Legacy Shareholders Approve Plan of Arrangement With Crescent Point
CALGARY, ALBERTA--(Marketwired - June 30, 2015) - Legacy Oil + Gas Inc. (TSX:LEG) ("Legacy" or the "Company") is pleased to announce that the holders of Legacy common shares ("Shareholders") today approved the special resolution (the "Arrangement Resolution") authorizing the proposed plan of arrangement (the "Arrangement") involving Legacy, Crescent Point Energy Corp. ("Crescent Point") and the shareholders of Legacy at the annual and special meeting of the Legacy shareholders (the "Meeting"). [Read more]
TransCanada Lists Series 4 Preferred Shares
CALGARY, ALBERTA--(Marketwired - June 30, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Corporation) announced today that 5,466,595 of its 14,000,000 fixed rate Cumulative Redeemable First Preferred Shares, Series 3 (Series 3 Shares) were tendered for conversion into floating-rate Cumulative Redeemable First Preferred Shares, Series 4 (Series 4 Shares). As a result of the conversion TransCanada has 8,533,405 Series 3 Shares and 5,466,595 Series 4 Shares issued and [Read more]
Striker Exploration Corp. Announces Renewal of Banking Facilities
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]
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]