CALGARY, May 7, 2014 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Corporation") is pleased to announce that it has entered into a definitive reorganization and investment agreement (the "Agreement") with Tim de Freitas, Dorothy Else, Carrie McLauchlin, Yvonne McLeod, Greg Feltham, Kavanagh Mannas and Bob Quartero (the "Initial Investor Group"), which provides for: (i) a non-brokered private placement of up to an aggregate of approximately $20.0 million (the "Private Placement"); (ii) the [Read more]
News
Connacher Selects Agent in the Arrangement of US Dollar Equivalent of C$140 million First Lien Term Loan Facility
CALGARY, May 7, 2014 /CNW/ - Calgary, Alberta - Connacher Oil and Gas Limited (TSX: CLL) ("Connacher" or the "Company") has engaged Credit Suisse to act as sole lead arranger and sole bookrunner in the arrangement of a first lien term loan facility in an aggregate principal amount of US dollar equivalent of C$140 million (the "Term Loan Facility"). The Company's intention is to concurrently amend and reduce the existing $95 million amended and restated senior secured revolving credit facility [Read more]
Husky Energy Delivers Strong Earnings and Cash Flow
CALGARY, ALBERTA--(Marketwired - May 7, 2014) - Husky Energy (TSX:HSE) continued its focus on reliable business performance in the first quarter of 2014 as it delivered strong net earnings and cash flow. "We are consistently hitting our marks as we monetize our extensive portfolio of high-return, long-life projects," said CEO Asim Ghosh. "The landmark Liwan Gas Project achieved first gas and will be a long-term production, earnings and cash flow contributor. In addition, we began production [Read more]
Encana Continues Bold Change With US$3.1 Billion Oil-Rich Eagle Ford Acquisition
CALGARY, ALBERTA--(Marketwired - May 7, 2014) - In a bold strategic move, Encana (TSX:ECA)(NYSE:ECA) will significantly accelerate its plan to transition its portfolio and grow shareholder value through an agreement reached with Freeport-McMoRan for Encana's wholly owned subsidiary, Encana Oil & Gas (USA) Inc., to acquire approximately 45,500 net acres in Karnes, Wilson and Atascosa counties of south Texas for about US$3.1 billion. The acreage produced approximately 53,000 barrels of oil [Read more]
Talisman Energy records net income of $491 million in first quarter
CALGARY - Talisman Energy Inc. (TSX:TLM) says its net income was $491 million, or 47 cents per share, compared to a net loss of $213 million or 21 cents per share in the first quarter last year. The Calgary-based oil and gas producer credits higher gas and liquids prices in North America, increased liquids volumes and the sale of part of the company's Montney gas properties in B.C. for $1.5 billion Net income also improved over last quarter due to a reduction in impairment expenses, from [Read more]
Longview Announces First Quarter 2014 Results
CALGARY, May 6, 2014 /CNW/ - Longview Oil Corp. ("Longview" or the "Corporation") (TSX: LNV) announces the financial and operating results for the quarter ended March 31, 2014. Three months ended March 31, 2014 2013 Financial ($000, except as otherwise indicated) (1) Sales excluding realized hedging $ 40,841 $ 34,327 per share (2) $ 0.87 $ 0.73 per [Read more]
Perpetual Energy Inc. releases first quarter 2014 financial and operating results and reports an increase in its credit facility borrowing base
CALGARY, May 6, 2014 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual" or the "Corporation" or the "Company") is pleased to report its financial and operating results for the three months ended March 31, 2014. Overall, results show significant gains from the comparative period in 2013 and the previous fourth quarter, reflecting both positive operating results and stronger commodity prices. A complete copy of Perpetual's unaudited interim consolidated financial statements and related [Read more]
Spyglass Resources Corp. Announces 2014 First Quarter Results, Provides Operational Update and Declares May Dividend
CALGARY, ALBERTA--(Marketwired - May 6, 2014) - Spyglass Resources Corp. ("Spyglass", or the "Company") (TSX:SGL)(OTCQX:SGLRF) announces unaudited interim financial and operating results for the quarter ended March 31, 2014. Selected financial and operational information for the first quarter of 2014 is outlined below and should be read in conjunction with Spyglass' interim Consolidated Financial Statements and Management's Discussion and Analysis on www.sedar.com and also available at [Read more]
Crude oil price little changed as traders await data on U.S. supplies
The price of oil was nearly unchanged Tuesday as traders waited for the latest data on U.S. supplies. Benchmark West Texas Intermediate crude for June delivery rose two cents to close at US$99.50 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international varieties of oil, fell 66 cents to US$107.06 on the ICE Futures exchange in London. Data for the week ended May 2 is expected to show an increase of 1.3 million barrels in U.S. crude oil stocks and a draw of [Read more]
Arsenal Energy Inc. Announces 2014 First Quarter Results and Increased Quarterly Dividend
CALGARY, ALBERTA--(Marketwired - May 6, 2014) - Arsenal Energy Inc. ("Arsenal") (TSX:AEI)(PINKSHEETS:AEYIF) is pleased to release its 2014 Q1 financial and operational results. Cash flow for the first quarter increased 55% from 2013 Q1 to $11.1 million. On a per share basis, cash flow increased to $0.69 per share, a 50% increase from 2013 Q1. The Board of Directors has declared an increase in the quarterly dividend to $.065 per common share. This 8% increase is consistent with the Arsenal [Read more]