CALGARY, ALBERTA--(Marketwired - March 12, 2015) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announces that it has reached an agreement with its syndicate of underwriters co-led by Scotiabank and RBC Capital Markets (collectively, the "Underwriters"), pursuant to which the $500 million "bought deal" offering of common shares ("Common Shares") announced yesterday has been increased to 31,700,000 Common Shares at a price of $17.35 per share (the "Offering Price"), for gross proceeds of [Read more]
News
Penn West to reduce first-quarter dividend further than previously announced
CALGARY - Penn West Petroleum Ltd. is cutting its quarterly dividend to a penny per share and seeking some breathing room for its debt as low oil prices continue to bite.Penn West (TSX:PWT) chief financial officer David Dyck also said the company has "proactively been in negotiations" with its lenders and debt holders to ensure financial flexibility."In spite of the progress we have made on debt reduction, we are still carrying too much debt on our balance sheet. And if oil prices continue to [Read more]
Tamarack Valley Energy Ltd. Announces 78% Increase to Reserves and Record Fourth Quarter Production
CALGARY, ALBERTA--(Marketwired - March 12, 2015) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") is pleased to announce the results of its independent reserves evaluation as of December 31, 2014, which includes a 78% increase in proved plus probable ("2P") reserves to 33.236 mmboe, a three year proved plus probable finding, development and acquisition cost average of $25.74/boe and a recycle ratio of 1.5 using 2014 netbacks of $38.92/boe. The Company is also pleased [Read more]
Penn West Announces its Financial and Operational Results for the Fourth Quarter and Year Ended December 31, 2014 and 2014 Reserves Results
CALGARY, March 12, 2015 /CNW/ - PENN WEST PETROLEUM LTD. (TSX - PWT; NYSE - PWE) ("Penn West", the "Company", "we", "us" or "our") is pleased to announce its financial and operational results for the fourth quarter and year ended December 31, 2014. All figures are in Canadian dollars unless otherwise stated. Three months ended December 31 Year ended December 31 2014 2013 % change 2014 2013 % change Financial (millions, except per share [Read more]
Athabasca Oil Corporation Announces 2014 Year-End Results and Reserves
CALGARY, March 12, 2014 /CNW/ - Athabasca Oil Corporation ("Athabasca" or the "Company") (TSX: ATH) is pleased to report its fourth quarter and 2014 year-end financial and operating results in conjunction with its year-end reserves and resource information. 2014 highlights and recent accomplishments: Over $1.2 billion of funding in place1 including approximately $760 million of cash, cash equivalents and short-term investments as of March 2, 2015; a strong balance sheet with a flexible [Read more]
Bellatrix Exploration Ltd. Announces Fourth Quarter and Year End 2014 Financial Results
CALGARY, March 12, 2015 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) announces its financial and operating results for the year ended December 31, 2014. 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 years ended December 31, 2014 [Read more]
Peyto Celebrates a Record Breaking Year in 2014
CALGARY, ALBERTA--(Marketwired - March 11, 2015) - Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX:PEY) is pleased to report operating and financial results for the fourth quarter and 2014 fiscal year which set Company records in virtually all categories. Record production - Fourth quarter 2014 production was a record 500 MMCFe/d (83,251 boe/d), with exit production of 85,700 boe/d. Q4 2014 production was up 24% (20% per share) from Q4 2013 while average annual [Read more]
Baytex Announces $500 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - March 11, 2015) - Baytex Energy Corp. ("Baytex") (TSX:BTE) (NYSE:BTE) announces that it has entered into an agreement to sell 28,820,000 common shares ("Common Shares") at $17.35 per share (the "Offering Price") to raise gross proceeds of approximately $500 million on a bought deal basis (the "Offering"). The issue will be made through a syndicate of underwriters (the "Underwriters") co-led by Scotiabank and RBC Capital Markets. The net proceeds will be used to [Read more]
Bellatrix announces amendments to its bank credit facilities
TSX: BXE CALGARY, March 11, 2015 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that its syndicate of lenders, led by National Bank Financial as Sole Lead Arranger and Book Runner and National Bank of Canada as Administrative Agent, has agreed to amendments to certain of the financial covenants contained in the agreement governing its bank credit facilities. The Company's total $725 million credit facilities are available on an [Read more]
Husky Energy Begins Oil Production at the Sunrise Energy Project
CALGARY, AB--(Marketwired - March 11, 2015) - Husky Energy (TSX: HSE) has started oil production at the Sunrise Energy Project in northern Alberta. "Sunrise is the latest in a series of resilient, low sustaining capital projects to come online from our diverse portfolio," said CEO Asim Ghosh. "We are expecting more than 40 years of production from this reservoir with very low ongoing capital costs." Steam operations began in December 2014. Total production is expected to ramp up to full [Read more]