CALGARY, Nov. 5, 2013 /CNW/ - Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") is pleased to announce that the acquisition of Black Shire Energy Inc. ("Black Shire") pursuant to a plan of arrangement under the Business Corporations Act (Alberta) was completed today (the "Acquisition") for total consideration of approximately $358.0 million, including the assumption of approximately $107.6 million of net debt. Total cash of $138 million was allocated to former Black Shire [Read more]
News
Encana cutting workforce by 20 per cent, slashing dividend in new strategy
CALGARY - Canadian natural gas giant Encana Corp. says it will cut its workforce by 20 per cent, slash its dividend, close its office in Plano, Texas, and spin off a large portion of its Alberta assets into a new public company. Encana didn't say how many jobs will be cut during the reorganization but said it would consolidate its office locations in Calgary and Denver. As of late 2012 it had about 650 corporate staff out of a total workforce of nearly 4,200 in Canada and the United [Read more]
Marquee Energy Ltd. Announces Deleveraging Transaction with Sonde Resources and Consolidation of Oil Focused Michichi Core Area
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE:MQL) and Sonde Resources Corp. ("Sonde") (TSX:SOQ)(NYSE MKT:SOQ) are pleased to announce that they have entered into an agreement (the "Arrangement Agreement") whereby Marquee will acquire substantially all of the Western Canadian assets of Sonde, including all of its Southern Alberta properties (the "Assets"), (the "Transaction"). The Assets are primarily located in Marquee's [Read more]
Long Run Exploration Ltd. Announces Resignation of Director
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Long Run Exploration Ltd. ("Long Run" or the "Corporation") (TSX:LRE) announces the resignation of Mr. Michael McGovern from the Board of Directors effective immediately. On behalf of the Board of Directors and staff of Long Run, Bill Andrew, Chair and CEO, wishes to thank Mr. McGovern for his valuable contributions as a Director of Long Run and its predecessor company during the course of his tenure. Long Run is a [Read more]
Renegade Petroleum Ltd. Announces Appointment of New Board Members and Engagement of Executive Search Firm and Proxy Solicitation Firm
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Renegade Petroleum Ltd. ("Renegade" or the "Company") (TSX VENTURE:RPL) is pleased to announce that Renegade has: further strengthened its board of directors through the addition of three new experienced, skilled and independent directors: Messrs. Donald Copeland, Joseph Durante and Peter Burnham; engaged one of the energy sector's premier executive search firms to assist and enhance the Renegade board's efforts to [Read more]
Encana Announces Vision and Strategy, Bold Action Underway
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - Encana Corporation (TSX:ECA)(NYSE:ECA) announced its clear vision and strategy today, earlier than initially expected, and has already started making the significant and bold changes needed to put Encana on track to be a leading North American resource play company. "We are doing what it takes to get Encana back to winning and we have already begun executing on our strategy with some of that impact being seen in our strong third quarter [Read more]
NuVista Energy Ltd. Announces Third Quarter 2013 Results and Updated Resource Study
CALGARY, ALBERTA--(Marketwired - Nov. 5, 2013) - NuVista Energy Ltd. ("NuVista") (TSX:NVA) is pleased to announce results for the three and nine months ended September 30, 2013 and provide an update on its business plan. During the third quarter of 2013 NuVista was able to advance its Wapiti Montney drilling program delivering production growth and increased cash flow, even during a quarter of lower natural gas prices. Development drilling project areas have now been defined in each of our North [Read more]
Surge Energy Inc. announces record results for the third quarter 2013
CALGARY, Nov. 4, 2013 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") is pleased to announce its financial and operating results for the three and nine month periods ended September 30, 2013. FINANCIAL AND OPERATING SUMMARY ($000s except per share amounts) Three months ended September 30, Nine months ended September 30, 2013 2012 % change 2013 2012 % change Financial highlights Oil and NGL [Read more]
Peyto Exploration & Development Corp. Announces Pricing of Private Placement of Senior Notes
CALGARY, ALBERTA--(Marketwired - Nov. 4, 2013) - Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto") is pleased to announce that it has priced an issuance of CDN$120 million of senior unsecured notes. The notes will have a coupon rate of 4.5% and mature in December 2020. The notes will be issued by way of a private placement pursuant to a note purchase agreement and will rank equally with Peyto's obligations under its bank facility and existing note purchase and private shelf [Read more]
Alberta PC Minister: OIL SUCKING THE LIFE OUT OF ALBERTA
EDMONTON - Alberta Municipal Affairs Minister Doug Griffiths took some heat in the legislature Monday for recent comments saying the province's oil and gas wealth "sucks the life" out of everything else in the province."Why was the minister out there (in Prince Edward Island) saying that the energy sector sucks the life out of every other aspect of Alberta instead of promoting the very many national benefits of the (proposed) Energy East pipeline?," Wildrose Leader Danielle Smith asked during [Read more]