CALGARY, Dec. 22, 2014 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) announces a revised 2015 capital budget focused on completing its strategic infrastructure initiatives and drilling high rate of return liquids-rich natural gas development opportunities, while maintaining a strong balance sheet. Bellatrix is also pleased to announce it has achieved its 2014 exit rate production guidance. In light of the recent rapid declines in crude oil prices, Bellatrix [Read more]
News
Harper and Prentice talk about energy sector during “challenging times”
CALGARY - Stephen Harper held a private meeting Sunday with Alberta Premier Jim Prentice in Calgary.Only a few broad details about the session were disclosed in a short news release from the Prime Minister's Office.It stated the two leaders focused on "the provincial, federal and global economies and on working together to keep Canada's energy sector strong through challenging times."The release said they also agreed that "all levels of government must continue to take steps to reduce greenhouse [Read more]
Journey Energy Inc. reduces 2015 capital budget and amends dividend policy
CALGARY, Dec. 21, 2014 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") announces that its Board of Directors has approved a reduction to the 2015 capital program to $70 million from $90 million and has amended its dividend policy to reflect a monthly dividend of $0.025 per share (previously $0.06 per share) beginning with the dividend payment for February 16, 2015. Journey emerged from its IPO in June of 2014 with the strongest balance sheet in their history and these [Read more]
Shoreline Energy Corp. Announces Board of Director Change
CALGARY, ALBERTA--(Marketwired - Dec. 21, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") announces the resignation of Mr. Peter Henry from the board of directors of the Corporation. On Friday December 19, Mr. Henry gave notice of his resignation, effective immediately so that he may pursue new employment opportunities. Mr. Henry has been with the Corporation since its inception and the remaining board members wish to use this opportunity to thank Mr. Henry for his [Read more]
Saudi petroleum minister says there is no conspiracy behind drop in oil prices
ABU DHABI, United Arab Emirates - Saudi Arabia's oil chief says that allegations the kingdom conspired to bring oil prices down to harm its neighbours are false.Petroleum Minister Ali Naimi said at an oil summit in the United Arab Emirates on Sunday that "the best thing for everybody is to let the most efficient produce."His remarks were likely meant to alleviate concerns by some of the oil giant's neighbours that the kingdom is forcing lower oil prices to damage their economies.An OPEC meeting [Read more]
Arcan Announces Proposed Transaction to Recapitalize Its Convertible Debentures
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") announced today a proposed transaction to recapitalize its convertible debentures into equity (the "Exchange") with the following key elements: Exchange of Arcan's $86.25 million 6.25% convertible unsecured subordinated debentures due February 28, 2016 (the "2016 Debentures") and $85.0 million 6.50% convertible unsecured subordinated debentures due October 31, 2018 (the "2018 [Read more]
Contact and Donnycreek Announce Closing of Arrangement
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) - Contact Exploration Inc. ("Contact") (TSX VENTURE:CEX) and Donnycreek Energy Inc. ("Donnycreek") (TSX VENTURE:DCK) are pleased to announce the successful completion of the merger of the two companies pursuant to the previously announced plan of arrangement (the "Arrangement") to form Kicking Horse Energy Inc. ("Kicking Horse" or the "Company"). Shareholders and optionholders of Contact and Donnycreek along with the Court of Queen's Bench of [Read more]
Canadian Spirit Resources Inc. Announces Grant of Stock Options
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)(OTCBB:CSPUF) announces that the Corporation has granted options to acquire 1,328,000 common shares of the Corporation in accordance with the terms and conditions of the Corporation's Stock Option Plan. Three independent directors of the Corporation were each granted options to purchase 100,000 common shares as compensation for their services. Three executive [Read more]
Alberta extends climate change rules, including $15 tonne carbon levy, to June
EDMONTON - Alberta has extended its climate-change regulations, including the carbon levy on large emitters, for another six months.The regulations had been set to expire at the end of the year but will now be kept in force through June 2015.Premier Jim Prentice had promised the changes by the end of the year, but said Friday that more time is needed to analyze options on a revised climate-change framework.Alberta currently has a $15 per tonne levy on carbon for large emitters.The province is [Read more]
Chinook Energy Announces Closing of Gilby Asset Disposition
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) - Chinook Energy Inc. (TSX:CKE) ("Chinook") is pleased to announce that, further to its news release dated December 2, 2014, it has completed the disposition of certain assets located in the Gilby area of Alberta for gross proceeds of $30.8 million, before customary closing adjustments, with an effective date of July 1, 2014. Chinook will exit 2014 undrawn on its $125 million credit facility. About Chinook Energy Inc. Chinook is a [Read more]