CALGARY, April 16, 2015 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2014. Selected financial and operational information is set out below and should be read in conjunction with Ikkuma's December 31, 2014 audited annual financial statements and the related management's discussion and analysis ("MD&A"). In addition, the Corporation today announces the [Read more]
News
Saudi Arabia Adds Half a Bakken to Oil Market in a Month
Saudi Arabia boosted crude production to the highest in three decades in March, with a surge equal to half the daily output of the Bakken formation in North Dakota. The kingdom boosted daily crude output by 658,800 barrels in March to an average of 10.294 million, according to data the country communicated to the Organization of Petroleum Exporting Countries’ secretariat in Vienna. The Bakken formation, among the fastest-growing shale oil regions in the U.S., pumped 1.1 million barrels a day [Read more]
Pinecrest Energy Inc. and Cardinal Energy Ltd. Announce Closing of Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - April 15, 2015) - Pinecrest Energy Inc. (TSX VENTURE:PRY) ("Pinecrest" or the "Company") and Cardinal Energy Ltd. (TSX:CJ) ("Cardinal") announce the completion of the previously announced reorganization of the business of Pinecrest pursuant to a plan of arrangement involving Cardinal, Virginia Hills Oil Corp. ("Virginia Hills"), the Company and the Company's shareholders (the "Arrangement") under the Business Corporations Act (Alberta) (the [Read more]
Bonterra Energy Corp. Announces Closing of Strategic Pembina Cardium Asset Acquisition
CALGARY, ALBERTA--(Marketwired - April 15, 2015) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) is pleased to announce the closing of the previously announced acquisition of certain Cardium focused assets in the Pembina area of Alberta (the "Assets") from a senior oil and gas producer for $172 million prior to normal closing adjustments, financed mainly through bank debt. With the closing, Bonterra has acquired approximately 1,800 boe/d of high-netback, low decline, conventional [Read more]
Traverse Energy Announces 2014 Year End Results
CALGARY, ALBERTA--(Marketwired - April 15, 2015) - Traverse Energy Ltd. ("Traverse" or "the Company") (TSX Venture:TVL) presents financial and operating results for the year ended December 31, 2014. Three Months Ended December 31 (unaudited) Year Ended December 31 Highlights 2014 2013 2014 2013 Financial ($ thousands, except per share amounts) Petroleum and natural gas revenue $ 5,508 $ 4,055 $ 19,717 $ 14,674 Cash [Read more]
BoC keeps 0.75% interest rate, even though economy likely stalled in early 2015
OTTAWA - The Bank of Canada stuck with its trendsetting interest rate Wednesday even though it believes the oil-price shock stalled the economy to the point it had zero growth over the first three months of 2015.The central bank's justification for keeping its key rate at 0.75 per cent hinged, in large part, on its positive outlook for the non-energy sector, which it expects to materialize as the economic pain from the oil slump fades. The bank predicted those improvements would show up in the [Read more]
Freehold Royalties Ltd. Upsizes Public Offering From $297 Million to $324 Million
CALGARY, ALBERTA--(Marketwired - April 15, 2015) - Freehold Royalties Ltd. ("Freehold" or the "Company") (TSX:FRU) announced today that it has upsized its $18.00 per share bought deal equity financing being co-led by RBC Capital Markets and CIBC, on behalf of a syndicate of underwriters, announced April 14, 2015 from $297 million to $324 million (the "Public Offering"). Consequently, the over-allotment option will increase from 2,475,000 common shares to up to an additional 2,700,000 common [Read more]
Pengrowth Energy Announces Board Appointment
CALGARY, ALBERTA--(Marketwired - April 14, 2015) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) is pleased to announce the appointment of Jamie Sokalsky to its Board of Directors. Mr. Sokalsky brings over 30 years of senior executive experience in a wide range of areas including finance, capital markets, corporate strategy, project development, acquisitions and divestitures. Mr. Sokalsky's career centered primarily within the mining and resources sector, where he held various executive [Read more]
Dave Wizinsky, MEG Energy Board Director and co-founder of a Canadian energy success story retires after 16 years
CALGARY, ALBERTA--(Marketwired - April 14, 2015) - MEG Energy Corp. (TSX:MEG) reports that co-founder Dave Wizinsky will step down from the corporation's Board of Directors effective May 7, 2015, after serving for 16 years with the company. "Dave came in as a founding investment partner when oil was about $12 a barrel and MEG was just a vision," said Bill McCaffrey, founder, President and Chief Executive Officer. "As part of a larger team, he contributed to several landmark financings and the [Read more]
U.S. approaching historic switch to being a net exporter of energy: report
WASHINGTON - The United States is approaching a historic economic tipping point: in about a decade, the country will cease to be a net importer of energy, a government forecaster predicted Tuesday.Sometime around 2028, the U.S. will become a net energy exporter for the first time since the late 1950s, according to the annual long-term forecast released by the U.S. Energy Information Administration.It said lower consumption, more efficient vehicles, increased domestic production of oil and [Read more]