CALGARY, May 5, 2015 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) announces its financial and operating results for the three months ended March 31, 2015. This press release contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the end of this press release and the beginning of the Management's Discussion and Analysis (the "MD&A") for the three months ended March [Read more]
News
Seven Generations Energy's First Quarter Cash Flow up 60 Percent
Production increases 141 percent to 48,800 boe/d; drilling and completion costs improving TSX: VII CALGARY, May 4, 2015 /CNW/ - Seven Generations Energy Ltd. (7G or the Company) generated a 60 percent increase in cash flow and a 141 percent increase in production in the first quarter, as compared to the same period of 2014. "Our financial and operating performance during our first full quarter as a public company provides additional testament to how our low-cost production and field [Read more]
Sayonara to Investment Capital If NDP Win
When Ed Stelmach introduced a new Alberta royalty scheme in 2007, capital for resource development promptly took flight. To make matters worse, on the heels of Mr. Stelmach’s decision was the arrival of 2008’s financial crisis. For a time, the Alberta economic picture was bleak. Rachel Notley has made it no secret in her desire to review royalty rates and potentially increase them. And strongly associated with the Alberta NDP is the Alberta Union of Provincial Employees. Like the NDP, they [Read more]
NDP stance on fracking could have crippling implications to Alberta’s oil industry
Over the years, Alberta NDP leader Rachel Notley has made it clear that she is not comfortable with the development of Alberta’s conventional oil and gas industry using hydraulic fracturing technology and the required volumes of water. In the summer of 2012, as the NDP environment critic, she said there are too many questions about the safety and impact (of fracking) on Alberta’s water supply. "If we don't get a better understanding of what's safe for Albertans, we run the risk of doing some [Read more]
Waldron Energy Corporation Announces Agreement to Sell its Ricinus and Strachan Properties for Gross Proceeds of $12.3 Million and Provides Update on Credit Facilities
CALGARY, ALBERTA--(Marketwired - May 4, 2015) - As previously announced on December 2, 2014, Waldron Energy Corporation ("Waldron" or the "Corporation") (TSX:WDN) has engaged Cormark Securities Inc. as its exclusive financial advisor in order to pursue the sale of a material portion of the assets of the Corporation, either in one transaction or in a combination of transactions; a merger or other business combination; the outright sale of the Corporation; or some combination thereof (the [Read more]
A whiff of falsehood: Cow pasture carries evidence debunking Obama KXL claim
BAKER, Mont. - U.S. President Barack Obama's claims about the long-delayed Keystone XL pipeline have been raising eyebrows lately in this tiny oil-industry town in eastern Montana.The locals smell falsehood — evidence of it lies in a cow pasture just outside their town.The scent of untruth emanates from Obama's oft-repeated claim that the pipeline would simply ship Canadian oil, a statement he's made several times while talking down the project's economic benefit for Americans."This is Canadian [Read more]
What ‘Notley-nomics’ Would Mean to Alberta
Rightly so, there has been considerable concern expressed from many leading figures in business and government when it comes to Rachel Notley’s Alberta NDP energy industry policy. From Federal senators, to academics, to industry leading oil and gas chief executives, apprehension has been voiced over the suitability of raising corporate income taxes, changing Alberta’s royalty rate regime, the prospect of newly added crude processing capacity and an overall distaste for new pipeline [Read more]
Whitecap Resources Inc. Announces Closing of Beaumont Energy Inc. Acquisition
CALGARY, May 1, 2015 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has successfully completed the previously announced acquisition of Beaumont Energy Inc. ("Beaumont") pursuant to a plan of arrangement (the "Acquisition") under the provisions of the Business Corporations Act (Alberta). Whitecap acquired all of the issued and outstanding common shares of Beaumont for consideration consisting of approximately $7.3 million in cash and 36.3 [Read more]
Peyto Exploration & Development Corp. Announces Issuance of Senior Notes
CALGARY, ALBERTA--(Marketwired - May 1, 2015) - Peyto Exploration & Development Corp. ("Peyto") (TSX:PEY) is pleased to announce that it has closed the issuance of an aggregate of CDN$100,000,000 of senior unsecured notes with The Manufactures Life Insurance Company, New York Life Insurance Company, New York Life Insurance and Annuity Corporation, United of Omaha Insurance Company, and Mutual of Omaha Insurance Company. The notes have a coupon rate of 4.26% and mature in May 2025. The notes [Read more]
TransCanada Reports Solid First Quarter 2015 Financial Results
CALGARY, ALBERTA--(Marketwired - May 1, 2015) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced net income attributable to common shares for first quarter 2015 of $387 million or $0.55 per share compared to $412 million or $0.58 per share for the same period in 2014. Comparable earnings for first quarter 2015 were $465 million or $0.66 per share compared to $422 million or $0.60 per share for the same period last year. TransCanada's Board of Directors also declared a [Read more]