SASKATOON, SASKATCHEWAN--(Marketwired - Dec. 4, 2017) - Saturn Oil & Gas Inc. ("Saturn" or the "Company") (TSX VENTURE:SMI) (FRANKFURT:SMK) is pleased to announce that it has closed its over-subscribed equity financing receiving subscriptions totaling C$520,800, subject to TSX Venture Exchange ("TSXV") approval. The Company has also entered into a convertible loan agreement (the "Loan Agreement") with Digistore24 GmbH ("Digistore"), pursuant to which Digistore will lend Saturn C$1,500,000 [Read more]
Headlines
Saskatchewan’s climate-change strategy includes buying carbon offsets
REGINA - The Saskatchewan government has introduced a climate-change strategy that inches toward a price on carbon emissions, but leaves large parts of its economy untouched. And it doesn't include a carbon tax, which Environment Minister Dustin Duncan was happy to point out Monday. "I believe it will achieve as much, if not more than, a carbon tax ever would," Duncan said after introducing the plan. It calls for performance standards on facilities that emit more than [Read more]
NEB hears constitutional question on Burnaby delays to Trans Mountain project
CALGARY - Kinder Morgan Canada and Burnaby, B.C., clashed in a National Energy Board's hearing room Monday over the fate of local permitting for the controversial Trans Mountain expansion project. The company (TSX:KML) argued at the NEB's Calgary headquarters that local political opposition to the $7.4-billion pipeline project has tainted permitting in the city and the process is now delayed, requiring the NEB to step in and override local bylaws to maintain the federal government's [Read more]
Funds build record bullish position in oil ahead of 2018: Kemp
LONDON, Dec 4 (Reuters) - Hedge fund managers raised their bullish position in crude oil and refined products by another 63 million barrels to a record 1,155 million barrels in the week before the OPEC meeting. Portfolio managers were emboldened as it became clear OPEC and its allies were likely to extend production cuts for another nine months until the end of 2018. Fund managers have brushed aside concerns about the enormous concentration of long positions already in the market and the [Read more]
Enbridge Announces $400 Million Preferred Share Offering
CALGARY, ALBERTA--(Marketwired - Dec. 4, 2017) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) ("Enbridge" or the "Company") today announced that it has entered into an agreement with a group of underwriters to sell $400 million Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 19 (the "Series 19 Preferred Shares") at a price of $25.00 per share for distribution to the public. Closing of the offering is expected on or about December 11, 2017. The holders of Series 19 Preferred Shares [Read more]
Whitecap Resources Inc. Closes $425 Million Financing
CALGARY, Dec 4, 2017 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has completed its previously announced bought deal financing of subscription receipts (the "Prospectus Offering") and concurrent non-brokered private placement of subscription receipts (the "Private Placement"). Through the Prospectus Offering, Whitecap issued 37,785,000 subscription receipts of the Company ("Public Receipts") at a price of $8.80 per Public Receipt for [Read more]
Husky Energy Announces 2018 Budget and Production Guidance
CALGARY, Alberta, Dec. 04, 2017 (GLOBE NEWSWIRE) -- Husky (TSX:HSE) is on track to exceed the 2018 targets for funds from operations and free cash flow outlined at its 2017 Investor Day. “We are ahead of our five-year plan in delivering cost efficiencies, lower cost production, lower operating costs, lower sustaining capital requirements, and increasing free cash flow,” said CEO Rob Peabody. 2018 Plan Highlights: Funds from operations are anticipated to exceed $4 [Read more]
U.S. regulator raises concerns about weights on energy pipelines
A U.S. regulator's preliminary investigation into the biggest oil pipeline spill this year has raised a red flag that could trigger an extensive and costly inspection of tens of thousands of miles of underground energy lines. The 5,000-barrel leak on TransCanada Corp's Keystone pipeline on Nov. 16 in South Dakota might have stemmed from damage caused by a weight put in place when it was built in 2008, the Pipeline and Hazardous Materials Safety Administration said in a report published on [Read more]
An app-happy world values convenience over infrastructure, and we’re doomed if we don’t reverse that
A man must stand on the side of a mountain a very long time with his mouth open before a roast duck flies into it – Chinese (I think) proverb One fine summer day when I was a kid there was a power outage that impacted a sizeable chunk of the eastern parkland region of my home province. A cat had gotten into one of the larger central power substations, whereupon it apparently completed a circuit of some kind and used up all its nine lives in a brief but no doubt spectacular blaze of glory. [Read more]
Marquee Energy Ltd. Announces Credit Facility Amendment
CALGARY, Dec. 1, 2017 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQX") announces that its lender has completed their semi-annual review of the Company's credit facility. As part of such review, the credit facility remains at $12 million, however draws are capped at $8.5 million with special approval required to access the remaining $3.5 million. The Company's credit facility remains undrawn at the date of this press release except for letters of credit of $0.7 [Read more]