CALGARY, March 16, 2015 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce its 2014 financial results. The highlights of our fourth quarter and full year results are shown below. HIGHLIGHTS In 2014, Journey completed a significant acquisition, increasing production and capital project inventory while reducing our corporate decline rate, and transitioned to a public dividend paying exploration and production company through an initial public [Read more]
News
Athabasca Oil Corporation Announces Director Resignation
CALGARY, March 16, 2015 /CNW/ - Athabasca Oil Corporation (TSX: ATH) ("Athabasca" or the "Company") announces that Sveinung Svarte has tendered his resignation from the Board of Directors effective March 16, 2015. The Company and its Board thanks Mr. Svarte for his valuable contributions and wish him well in his future endeavours. About Athabasca Oil Corporation Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil [Read more]
Kelt Closes Upsized $33.4 Million CDE Flow-Through Equity Financing
CALGARY, AB--(Marketwired - March 16, 2015) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX: KEL) is pleased to announce that it has closed the final tranche of its previously announced $33.4 million non-brokered private placement of common shares, issued on a "flow-through" basis in respect of Canadian development expenses at a price of $8.60 per share (the "Private Placement"). Pursuant to the final tranche of the Private Placement, the Company issued an additional 581,400 flow-through [Read more]
Encana Completes C$1.25 Billion Bought Deal Offering
CALGARY, AB--(Marketwired - March 16, 2015) - Encana Corporation ("Encana") (TSX: ECA) (NYSE: ECA) announced today the completion of its offering of 85,616,500 common shares of Encana (the "Shares") at a price of C$14.60 per Share (the "Offering Price"), for aggregate gross proceeds of approximately C$1.25 billion (the "Offering"). Encana has also granted the underwriters an over-allotment option to purchase up to an additional 12,842,475 Shares at the Offering Price, exercisable for a period of [Read more]
Connacher Oil and Gas Limited Exercises its New Facility Option to have the New First Lien Facility Implemented and Announces the Availability of the New Convertible Notes Participation Form
CALGARY, March 16, 2015 /CNW/ - Connacher Oil and Gas Limited (CLL – TSX; "Connacher" or the "Company") is pleased to announce that in conjunction with the previously announced proposed recapitalization transaction (the "Recapitalization"), it has exercised the New Facility Option to have the New First Lien Facility implemented in accordance with the terms set forth in the backstop agreement dated January 30, 2015. The New First Lien Facility provides for loans of up to CA$30 million and is [Read more]
Fight over Keystone XL project doesn’t stall pipeline boom in US
WASHINGTON (AP) — In a far corner of North Dakota, just a few hundred miles from the proposed path of the Keystone XL pipeline, 84,000 barrels of crude oil per day recently began flowing through a new line that connects the state's sprawling oilfields to an oil hub in Wyoming. In West Texas, engineers activated a new pipeline that cuts diagonally across the state to deliver crude from the oil-rich Permian Basin to refineries near Houston. And in a string of towns in Kansas, Iowa and South [Read more]
US oil and natural gas rig count drops again
HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. fell by 67 this week to 1,125 amid depressed oil prices. Houston-based Baker Hughes said Friday that 866 rigs were seeking oil and 257 exploring for natural gas. Two were listed as miscellaneous. The count is down from 1,809 rigs active a year ago. Among major oil- and gas-producing states, Texas lost 37 rigs, Louisiana declined by seven, Oklahoma was down five, [Read more]
Traverse Energy Announces 2014 Year End Reserves
CALGARY, ALBERTA--(Marketwired - March 13, 2015) - Traverse Energy Ltd. ("Traverse" or "the Company") (TSX VENTURE:TVL) presents its 2014 year-end reserves. Traverse's independent reserve report was prepared by Sproule Associates Ltd. ("Sproule") in accordance with National Instrument 51-101 with an effective date of December 31, 2014. Highlights The Company share proved reserves increased from the prior year report by 28% from 1,447.2 MBOE (thousand barrels of oil equivalent) to 1,850.2 [Read more]
High North Resources Ltd. Announces Operations Update and Proposal to Amend the Terms of Its Convertible Debenture Indenture
CALGARY, ALBERTA--(Marketwired - March 13, 2015) - High North Resources Ltd. (TSX VENTURE:HN) (the "Company" or "High North") is pleased to provide an operational update regarding project development and recent production. High North also announces that it is seeking the approval of the holders ("Debentureholders") of its 12.00% convertible unsecured subordinated debentures (the "Debentures") to amend (the "Indenture Amendments") the terms of the convertible debenture indenture entered into [Read more]
Perpetual Energy Inc. Announces Swap of West Edson Property for 6.75 Million Tourmaline Shares with Market Value of $256.5 Million
CALGARY, March 12, 2015 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce the signing of a definitive agreement with Tourmaline Oil Corp. ("Tourmaline") to swap its joint interest share in its West Edson asset in West Central Alberta in exchange for 6.75 million TOU common shares ("TOU Shares") having a current market value of approximately $256.5 million based on today's closing price of the TOU Shares on the Toronto Stock [Read more]