CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - Lone Pine Resources Inc. ("Lone Pine" or the "Company") (TSX:LPR)(NYSE:LPR) today announced that Lone Pine Resources Canada Ltd. ("LPR Canada") elected not to make the US$10,115,625 semi-annual interest payment due on August 15, 2013 in respect of its outstanding 10.375% senior notes due 2017 (the "Senior Notes"). The indenture, dated February 14, 2012 (the "Indenture"), among LPR Canada, the Company and certain other guarantors and U.S. [Read more]
News
Cenovus closes US$800 million debt offering
Proceeds to be used for early redemption of 2014 notes CALGARY, Aug. 15, 2013 /CNW/ - Cenovus Energy Inc. (TSX, NYSE: CVE) has completed a public offering in the United States of US$800 million in senior unsecured notes in two series - US$450 million 3.8% senior notes due 2023 and US$350 million 5.2% senior notes due 2043. The notes were issued under Cenovus's short form base shelf prospectus dated June 6, 2012, as amended, and a prospectus supplement dated August 12, 2013 filed with [Read more]
Canadian Pacific Railway to refuse order to pay for Lac Megantic
MONTREAL - Canadian Pacific says it's not responsible for paying to clean up Lac-Megantic, Que.The railway is rejecting a legal demand by the provincial government that it help fund the cleanup of the devastated town.The Canadian Press has learned that the railway will announce today that it will appeal the legal order.The news comes one day after the provincial government added CPR to a list of defendants that it says are responsible for paying for the cleanup.That legal notice [Read more]
Ontario to address Enbridge pipeline reversal concerns
TORONTO - Ontario Premier Kathleen Wynne is promising to address environmental concerns amid protests over a west-east pipeline plan that would transport Alberta oil to foreign markets. Protests that have cropped up in the province include a blockade of an Enbridge pumping station near Hamilton in June. Eighteen people were arrested and charged in that incident when they refused to leave the station. They oppose Enbridge's plan to reverse the flow of oil in a stretch of [Read more]
Apache Agrees To Sell Alberta Oil And Gas Assets To Ember Resources For US$214 Million
HOUSTON, Aug. 15, 2013 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) announced today it has agreed to sell oil and gas producing properties in the Nevis, North Grant Lands and South Grant Lands areas of western Alberta, Canada, to Ember Resources Inc., a private Canadian company, for US$214 million (CAN$220 million). "Going forward, Apache is focused on growing our liquids production from a deep inventory of crude oil- and liquids-rich opportunities that generate attractive rates of [Read more]
Oil rises above $107 per barrel on turmoil in Egypt, U.S. crude supplies fall
The price of oil climbed above $107 a barrel Thursday as the escalating violence in Egypt was seen as threatening stability in the Middle East, and U.S. crude supplies fell in a possible sign of stronger demand. By early afternoon in Europe, benchmark crude for September delivery was up 48 cents to $107.33 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 2 cents to close at $106.85 on Wednesday. The Egyptian Health Ministry said that 525 people had died [Read more]
Connacher Announces Second Quarter 2013 Results
CALGARY, Aug. 14, 2013 /CNW/ - Connacher Oil and Gas Limited (CLL - TSX; "Connacher" or the "Company") is pleased to announce the release of its financial and operating results for the second quarter ending June 30, 2013 ("Q2 2013"), a summary of which is set out below. Q2 2013 Highlights: EBITDA of $24 million, a 125% increase from Q1 2013 Bitumen production averaged 11,572 bbl/d Bitumen netback of $31.79/bbl, a 93% increase from Q1 2013 Funds flow from continuing operations of $6 [Read more]
Hyperion Exploration Corp. Announces Second Quarter June 30, 2013 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - Hyperion Exploration Corp. ("Hyperion" or the "Company") (TSX VENTURE:HYX) announces operating results for the quarter ended June 30, 2013. Selected financial and operational information is outlined below and should be read in conjunction with Hyperion's unaudited financial statements and related management discussion and analysis which will be available for review under Hyperion's SEDAR profile at www.sedar.com. Q2 2013 Financial [Read more]
Tamarack Valley Energy Ltd. Announces Record Production and Cash Flow Releases 2013 Second Quarter Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - Tamarack Valley Energy Ltd. (TSX VENTURE:TVE) ("Tamarack" or the "Company") has filed its unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2013 ("Financial Statements") and management's discussion and analysis ("MD&A") on SEDAR. Selected financial and operational information is outlined below and should be read in conjunction with the Financial Statements, which were prepared in accordance [Read more]
Questerre to Scale Up Development of Montney Resource
CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today on its financial and operating results for the second quarter of 2013. Michael Binnion, President and Chief Executive Officer, commented, "Our investment to build Kakwa-Resthaven into a new core area was endorsed by the results of the recent Montney resource assessment. We believe our acreage lies in the sweet spot of the play or the acreage [Read more]