In a massive overnight trade, Alberta Investment Management sold its entire 56 million share holding of drilling giant Precision Drilling. The trade swapped over $530 million of equity. The stock is down 9% on the day. From today's Precision Drilling press release: Today, Alberta Investment Management Company ("AIMCo") sold its entire equity position in Precision Drilling Corporation (PD.TO) (PDS), approximately 56 million shares, in an overnight marketed transaction. AIMCo acted [Read more]
News
PanTerra Completes 9.6 km Pipeline at Tomahawk
TSX-V: PRC CALGARY, Dec. 5, 2013 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Company") is pleased to announce that it has completed a 9.6 kilometer pipeline at its Tomahawk, Alberta project. The line is going through its initial start up phase and is expected to be fully operational by mid December. The pipeline will allow the Company to produce from a particular well that was drilled last year, but due to high Gas Oil Ratios, was shut-in. This will result in an increase in both oil and [Read more]
Madalena announces closing of bought deal offering, including full exercise of over-allotment option, for gross proceeds of $9.2 million
TSXV Trading Symbol: MVN CALGARY, Dec. 5, 2013 /CNW/ - Madalena Energy Inc. ("Madalena" or the "Company") is pleased to announce that it has completed its previously announced bought deal short form prospectus offering (the "Offering") through Mackie Research Capital Corporation and RBC Capital Markets, as co-lead underwriters and joint book-runners (the "Co-Lead Underwriters"), on their behalf and on behalf of Haywood Securities Inc., National Bank Financial Inc., Dundee Securities Ltd., [Read more]
Oilsands upgrader cost rises; startup delayed
CALGARY - A partnership that plans to build an oilsands refinery northeast of Edmonton says the cost of the project has risen $8.5 billion.North West Redwater Partnership also said in a news release Wednesday that the startup date for its bitumen upgrader has been pushed back to September 2017 from mid-2016.When the project was approved in November 2012, the cost was estimated at $5.7 billion.The partnership, made up of North West Upgrading Inc. and Canadian Natural Upgrading Limited, a wholly [Read more]
Glacier Upper Montney Well Tested at Record 21 Mmcf/d, Lower Montney Wells Continue to Outperform, Strategic Alternatives Update
(TSX: AAV) (NYSE: AAV) CALGARY, Dec. 4, 2013 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to provide the following operational update related to our current Phase VI Glacier Development program and an update on our strategic alternatives process. Our Phase VI drilling program commenced in August 2013 and is designed to increase Glacier production to 135 mmcfe/d in April 2014 which represents a production growth of 25% compared to April 2013. New Glacier [Read more]
North West Redwater Partnership Announces Update to Facility Cost Estimate and Certain Revisions to the Bitumen Processing Agreements
CALGARY, Dec. 4, 2013 /CNW/ - North West Redwater Partnership ("NWR"), a partnership between North West Upgrading Inc. ("NWU") and Canadian Natural Upgrading Limited ("CNUL"), a wholly owned subsidiary of Canadian Natural Resources Limited ("Canadian Natural"), announces today an update to its facility capital cost estimate and to certain revisions to its Bitumen Processing Agreements. Phase 1 of the Sturgeon Refinery project ("Project") is designed to process 50,000 barrels per day ("bbl/d") of [Read more]
Paramount Resources Ltd. Announces Upsizing and Pricing of Previously Announced Senior Notes Offering
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES The previously announced offering of Paramount's 7.625% senior unsecured notes due 2019 (the "Senior Notes") has been upsized from $100 million to $150 million and priced at a premium price of $1,007.50 per $1,000 principal amount. The offering is expected to close on December 11, 2013. The Senior Notes have not been and will not be [Read more]
Peyto Exploration & Development Corp. Announces Closing of Private Placement of Senior Notes
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto") is pleased to confirm that it has closed a previously announced issuance of CDN$120 million of senior unsecured notes. The notes have a coupon rate of 4.5% and mature on December 4, 2020. The notes were issued by way of a private placement pursuant to a note purchase agreement and rank equally with Peyto's obligations under its bank facility and existing note purchase [Read more]
Yoho Resources Inc. Announces Year End Financial Results With 39% Increase in Funds from Operations for Fiscal 2013
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - Yoho Resources Inc. (TSX VENTURE:YO) ("Yoho" or the "Company") has filed today on SEDAR the financial statements for the year ended September 30, 2013 and the related managements' discussion and analysis ("MD&A"). Yoho today also filed its Annual Information Form for the year ended September 30, 2013 which includes the Company's reserves data and other oil and gas information for the year ended September 30, 2013 as mandated by National [Read more]
Enbridge Increases Dividend by 11 per cent
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) today announced that its Board of Directors has declared a quarterly dividend of $0.350 per common share, payable on March 1, 2014 to shareholders of record on February 14, 2014. The dividend reflects an 11 per cent increase from the prior quarterly rate. Enbridge also announced a guidance range for 2014 adjusted earnings of $1.84 to $2.04 per share. "2013 has been a foundational year for our growth plan [Read more]