CALGARY, AB--(Marketwired - March 12, 2015) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") has entered into a transaction to acquire Perpetual Energy Inc.'s ("Perpetual") interests in the West Edson area of the Alberta Deep Basin. The interests include Perpetual's land interests, production, reserves and facilities that are currently joint with Tourmaline. Tourmaline will issue 6.75 million shares to acquire the assets, currently producing 5,750 boepd net to Perpetual. Closing [Read more]
News
Dejour Secures C$2MM Bridge Loan
James Dai Joins Board of Directors VANCOUVER, British Columbia--(BUSINESS WIRE)--Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, today announced that it has closed the initial tranche of an industry-standard bridge loan commitment of up to C$ 2MM from a principal and director of the Company. These funds will provide a flexible [Read more]
Toscana Energy Announces Fiscal Year 2014 Financial and Operating Results and 2014 Reserves
CALGARY, March 12, 2015 /CNW/ -Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX: TEI) announces financial and operating results for the year ended December 31, 2014, and the Corporation's 2014 year-end reserves. Financial and operating results: The following summarizes information contained in the Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2014. This news release should not be considered a [Read more]
Alberta Energy Regulator to inspect integrity of 65 energy industry dams
EDMONTON - The Alberta Energy Regulator says it will inspect the structural integrity and review the safety records of 65 dams used by the oilsands and coal industries in the province.The announcement follows criticism by the auditor general that the provincial government is failing to properly regulate Alberta's network of dams and tailings ponds.The 65 dams are used to contain industrial waste and the regulator says 32 are classified as posing either "extreme" or "very high" environmental [Read more]
Transport Canada proposes tougher protections for rail tanker cars
OTTAWA - Proposed new federal regulations will give shippers until 2025 to upgrade rail tank cars to a higher safety standard, a transition that would come almost 30 years after serious deficiencies in the fleet were first identified —— and as oil-by-rail accidents continue to pile up.The safety upgrade would build on standards voluntarily adopted by the industry in 2011 and require shippers to make tank cars more resistant to punctures and valve failures in the case of derailment or [Read more]
Husky Energy Closes Notes Offering
CALGARY, AB--(Marketwired - March 12, 2015) - Husky Energy (TSX: HSE) has completed its recently announced public offering of $750 million principal amount of notes, which will mature on March 12, 2025 (the "2025 Notes"). The 2025 Notes have a coupon of 3.55 percent and have been assigned a credit rating of BBB+ by Standard & Poor's, Baa2 with a stable outlook by Moody's and A (low) with a stable trend by DBRS. The net proceeds of the offering will be used for the partial repayment of [Read more]
Husky Energy Closes Preferred Shares Offering
CALGARY, AB--(Marketwired - March 12, 2015) - Husky Energy (TSX: HSE) has completed its recently announced public offering of 8,000,000 Cumulative Redeemable Preferred Shares, Series 5 (the "Series 5 Shares") with a syndicate of underwriters led by TD Securities Inc. and RBC Capital Markets. The aggregate gross proceeds to Husky from the completed upsized offering are $200 million. The net proceeds of the offering will be used for the partial repayment of short term debt incurred in [Read more]
Baytex Announces Increase in Bought Deal Financing to $550 Million
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]
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]