REGINA, SK / ACCESSWIRE / June 30, 2020 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK) is pleased to announce that it has closed on its previously announced acquisition (the "Acquisition") from a publicly traded company of certain producing oil and gas assets in Southern Saskatchewan along with associated land leases and related assets and facilities (including certain seismic data)(the "Assets"). The Acquisition has an effective date of June 1, 2020. The total purchase price paid for [Read more]
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Painted Pony announces extension of bank line review date
CALGARY, Alberta - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) today confirms the execution of an agreement with the Corporation’s syndicate of lenders to extend Painted Pony’s annual borrowing base redetermination date from June 30, 2020 to July 31, 2020. This extension affords both Painted Pony and the syndicate of lenders additional time to evaluate current market conditions as well as proposed Federal Government programs initiated through Export Development [Read more]
Yangarra announces completion of borrowing base review
CALGARY, AB - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) has completed its annual borrowing base review and the syndicated senior credit facility has been confirmed at $210 million of which the Company was drawn approximately $195 million. The term out date has been extended to May 28, 2021 and the maturity date has been extended to May 28, 2022. The only changes to terms and conditions are to the interest rate grid and the elimination of the Company's Normal Course Issuer [Read more]
U.S. crude oil output falls 669,000 bpd to 12.1 million bpd in April
U.S. crude oil production dropped 669,000 barrels per day to 12.06 million bpd in April, the government said in a monthly report on Tuesday. The decline came as production fell 234,000 bpd in Texas, the largest oil-producing state, and 195,000 bpd in North Dakota. Output fell 16,000 bpd in federal waters in the Gulf of Mexico, the report said. The U.S. Energy Information Administration revised upward its figures for March, saying that production in that month was 12.73 million bpd, down [Read more]
Altura Energy Inc. announces the closing of an asset disposition and provides a corporate update
CALGARY, AB - Altura Energy Inc. ("Altura" or the "Corporation") (TSXV: ATU) announces a June 30, 2020 asset disposition and provides an update on its credit facility renewal and operations. ASSET DISPOSITION Altura has amended the timing of the second transaction in the December 4, 2019 definitive agreement (the "Amending Agreement") with a private company ("PrivateCo") for the sale of a 5.5% working interest in the Corporation's production, wells, lands and facilities for [Read more]
Alberta cuts business tax, boosts infrastructure spending to reboot economy
EDMONTON - Alberta is cutting business taxes and pumping $10 billion into infrastructure projects to springboard its economy out of the financial crisis caused by the COVID-19 pandemic. Premier Jason Kenney says the investments will be for roads, health care, schools and in other areas, with expected spinoff benefits to other businesses and the service sector. Kenney says there will also be incentives for high-tech companies and other sector-specific initiatives. Kenney cut the [Read more]
Column: For the next culture of innovation to take root, the culture of animosity has to go
One winter while in high school, I landed a short-term job. A neighbour was going south for a month of respite from a Saskatchewan winter and asked if I’d come over daily to feed his cows. Having done this for years at home I was up to the task and jumped at it. Before he left, he asked me to come over to “show me how to do it.” He had his own special technique of manipulating the front-end loader with a huge hay bale, and he wanted to make sure I did it his way. As I sat in his tractor, trying [Read more]
GeoVerra, the country’s newest surveying and geomatics firm launches, providing responsive, efficient and reliable service to clients in Western Canada and Ontario
Edmonton, AB – GeoVerra, one of the country’s largest geomatics firms with offices in Western Canada and Ontario, opened its doors for business on Monday as the transaction between Altus Group and WSP closed this past weekend. As part of the transaction, the country’s leading geomatics providers were carved out from the two organizations to form GeoVerra. The Company provides solutions in land surveying, mapping, forestry, and geospatial technology across diverse industries, with a mission to [Read more]
Paramount Resources Ltd. announces amended credit facility
CALGARY, AB - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) is pleased to announce that it has successfully completed amendments to its senior secured revolving bank credit facility (the "Facility") with the unanimous support of its nine-bank syndicate. The amendments include a full waiver of the Senior Secured Debt to Consolidated EBITDA covenant until the third quarter of 2021 and a reduction of the Consolidated EBITDA to Consolidated Interest Expense covenant from [Read more]
TORC Oil & Gas Ltd. announces completion of annual credit facility redetermination
CALGARY, AB - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce the Company's credit facility has been confirmed at $425 million, with the borrowing base determination dates under the credit agreement to be amended to May and November annually, from April and October. TORC has received formal lender commitments from all syndicate members and expects credit documentation to be completed by July 3, 2020. TORC Oil & Gas Ltd. is a Calgary based company [Read more]