FORT WORTH, Texas, Feb. 17, 2015 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. (OTCQB:KWKA) announced today that the company has decided not to make the approximately $13.6 million interest payment due February 17, 2015 on its 9.125% senior notes due 2019 (the "2019 Notes"). Under the terms of the indenture governing the 2019 Notes, the company has a 30-day grace period before the failure to make the interest payment results in an event of default. The company believes it is in the best [Read more]
News
Cenovus announces $1.5 billion bought-deal common share financing
CALGARY, Feb. 17, 2015 /CNW/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) ("Cenovus") announced today that it has entered into a bought-deal financing agreement to sell 67.5 million common shares ("Common Shares") at a price of $22.25 per share (the "Offering"). The net proceeds of the Offering, combined with the company's $3 billion of undrawn committed credit lines, provide Cenovus with a stronger balance sheet and financial flexibility to pursue its planned capital program. The Offering [Read more]
Pinecrest Energy Inc. Announces Reorganization by Way of Plan of Arrangement, Proposed Management Changes and Financing
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) - Pinecrest Energy Inc. ("Pinecrest" or the "Company") (TSX VENTURE:PRY) announces that it has entered into an agreement (the "Arrangement Agreement") with Virginia Hills Oil Corp. ("Virginia Hills") and a junior dividend paying company (the "Purchaser") pursuant to which, among other things, Pinecrest will carry out a reorganization of its business which will result in Virginia Hills acquiring approximately 90% of Pinecrest's current assets and [Read more]
Cardinal Energy Ltd. Announces Light Oil Acquisition
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2015) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) announces that it will acquire all of the issued and outstanding common shares of Pinecrest Energy Inc. ("Pinecrest") after Pinecrest transfers certain assets and liabilities into a newly formed publicly listed company. Assets retained in Pinecrest to be acquired by Cardinal are expected to produce approximately 170 boe/d (97% light oil and NGLs). Light Oil Acquisition Cardinal [Read more]
Stonehaven Reports Fiscal Year-End Reserves at December 31, 2014
CALGARY, ALBERTA--(Marketwired - Feb. 13, 2015) - Stonehaven Exploration Ltd. ("Stonehaven" or the "Company") (TSX VENTURE:SE) reports the results of its December 31, 2014 Reserves Assessment and Evaluation of certain of its Alberta oil and gas properties, as evaluated by GLJ Petroleum Consultants ("GLJ") in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the COGE Handbook. A summary of the Company's reserves volumes according to [Read more]
Keystone bill signed by U.S. House Speaker, who urges Obama to add his name
WASHINGTON - The Republican leadership in the United States Congress has made it official, formally enrolling legislation to build the privately funded Canadian Keystone XL pipeline and urging President Barack Obama to sign it.In a ceremony on Friday, the Republican leader of the House of Representatives, Speaker John Boehner, put his signature on the bill and called on Obama to "do the right thing" and add his name.While the next stop for the measure is the White House — where Obama has [Read more]
TransCanada to hike dividend following higher Q4 profit of $458 million
CALGARY - TransCanada Corp. says it's still pursuing its plans to get into the oil-by-rail business, despite the fact that crude prices are expected to remain at depressed levels for some time.Paul Miller, TransCanada's (TSX:TRP) president of liquid pipelines, says rail transportation would help oil producers get product to market while they await approval of the company's Keystone XL pipeline, which has been mired in legal and regulatory delays for six years.In the latest setback, the company [Read more]
TransCanada Reports Strong Fourth Quarter and Year-End Financial Results
CALGARY, ALBERTA--(Marketwired - Feb. 13, 2015) - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced net income attributable to common shares for fourth quarter 2014 of $458 million or $0.65 per share compared to $420 million or $0.59 per share for the same period in 2013. For the year ended December 31, 2014, net income attributable to common shares was $1.7 billion or $2.46 per share compared to $1.7 billion or $2.42 per share in 2013. Comparable earnings for fourth [Read more]
Check out the BOE Report featured in Times Square NY
Canada's source for oil and gas news was on display front and centre at Times Square in Manhattan. As part of a partnership with NASDAQ Globe Newswire, the BOE Report logo hit NASDAQ's board for 5 minutes Wednesday morning. We're pleased to report our site's traffic has rapidly increased since we launched 2 years ago. The BOE Report reached 39,121 users in January and garnered a record-breaking 203,000 pageviews - 90% of the site's traffic came from western Canada (85% in Alberta). [Read more]
Keystone XL snagged again in Nebraska, could be months in court, opponents say
WASHINGTON - With a major decision on the Keystone XL pipeline looming in Washington, the project faces yet another snag in the place where opposition to it began — Nebraska.Opponents there say they may have stalled it for more than a year.The perenially postponed pipeline project will wind its way through the Nebraska court system yet again, with both sides asking the courts for more clarity on the legality of imposing the route on hostile landowners.A lawyer who fought the project once to the [Read more]