VICTORIA - Millions of dollars are expected to flow to a First Nation in British Columbia's northwest as a result of two new deals tied to proposed liquefied-natural-gas pipelines.The Ministry of Aboriginal Relations and Reconciliation says it has signed benefits deals with the Moricetown Band.One deal is tied to TransCanada's proposed Coastal GasLink pipeline and will give the First Nation located between Smithers and New Hazelton $6 million as project milestones are reached.Moricetown is also [Read more]
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Freehold Royalties Ltd. Closes Anderson Energy Acquisition and Announces Increase to Credit Facility
CALGARY, ALBERTA--(Marketwired - Jan. 23, 2015) - Freehold Royalties Ltd. ("Freehold" or the "Company") (TSX:FRU) announces that it has closed its previously announced acquisition of Anderson Energy Ltd. ("Anderson"). Total consideration associated with the transaction was $35 million with Freehold funding the deal through its existing bank credit line. Freehold acquired Anderson pursuant to a plan of arrangement (the "Arrangement") under the Business Corporations Act (Alberta). Pursuant to [Read more]
Anderson Energy Inc. Announces Closing of Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - Jan. 23, 2015) - Anderson Energy Inc. (the "Company") (TSX:AXL) announces the completion of the previously announced reorganization of the business of Anderson Energy Ltd. ("Prior Anderson") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). Under the terms of the Arrangement, approximately 92% of the oil and gas assets1 previously owned and operated by Prior Anderson have been transferred to the Company and [Read more]
Shoreline Energy Corp. Announces Management Changes
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2015) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") announces that Mr. Gary Lobb has resigned as Chief Financial Officer of the Corporation effective immediately to pursue other interests. "On behalf of the Board of Shoreline, we wish Gary the very best in his future endeavours." said Trevor Folk, Chief Executive Officer. Effective immediately Mr. Trevor Folk will assume the role of Chief Financial Officer and a [Read more]
Oil prices take small jump on death of Saudi king, but no change in policy expected
NEW YORK - Oil prices rose initially on news of the death of Saudi Arabia's powerful King Abdullah, but the increase was moderate and short-lived.The king's death is unlikely to lead to a change in the kingdom's immense crude production or change the course of oil prices in the coming months, analysts say.The benchmark U.S. crude futures contract rose more than $2 a barrel in the hours after the king's death was announced Thursday evening in New York. But by the time commodity markets opened [Read more]
King of Saudi Arabia dead at 90
RIYADH, Saudi Arabia (AP) — Saudi Arabia's King Abdullah, the powerful U.S. ally who joined Washington's fight against al-Qaida and sought to modernize the ultraconservative Muslim kingdom with incremental but significant reforms, including nudging open greater opportunities for women, has died, according to Saudi state TV. He was 90. More than his guarded and hidebound predecessors, Abdullah assertively threw his oil-rich nation's weight behind trying to shape the Middle East. His priority [Read more]
Prentice gloomy about quick oil recovery, suggests raising taxes
CALGARY - Alberta Premier Jim Prentice says there's no chance that the province can "ride things out" while waiting for a rebound in oil prices.Prentice says a full discussion must be held with Albertans to find a way to deal with a decline of $7 billion in resource revenues triggered by a fall in world oil prices to below US$50 a barrel."I know there is a thought out there that we should just ride this out and prices will rebound and we'll be back into happier times," Prentice said [Read more]
Maple Leaf Enters Agreement to Purchase Oil and Gas Royalties
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2015) - Maple Leaf Royalties Corp. (TSX VENTURE:MPL) ("Maple Leaf") is pleased to announce that it has entered into a definitive purchase agreement with Maple Leaf 2012 Energy Income Limited Partnership ("Vendor") pursuant to which it has agreed to acquire royalty interests in nine oil and gas wells located in Alberta (the "Royalties") in consideration of the issuance and delivery to Vendor of 23,000,000 common shares (the "Purchase Price Shares") of [Read more]
Blackbird Energy Inc. Announces Appointment of Vice President, Exploration
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2015) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that Mr. Craig Wiebe has been appointed to the position of Vice President, Exploration. Prior to his appointment as Vice President, Exploration, Mr. Wiebe held the position of Consulting Geologist with Blackbird. Mr. Wiebe is a Professional Geologist with over 20 years exploration and development experience, the majority being in unconventional [Read more]
Toro Announces 2015 Capital Budget and Strategy
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2015) - Toro Oil & Gas Ltd. (TSX VENTURE:TOO) ("Toro" or the "Company") announces its approved capital budget and strategic plan for 2015. In light of the current low commodity price environment and limited visibility on timing for recovery, Toro's Board of Directors approved a 2015 conservative capital expenditure program of $12 million. The Company intends to limit capital spending in the first half of the year and defer drilling expenditures to [Read more]