CALGARY, ALBERTA--(Marketwired - July 4, 2017) - Veresen Inc. ("Veresen") (TSX:VSN) is pleased to announce it has closed the sale of certain additional power assets such that approximately two-thirds of previously announced total proceeds have been received to date. Veresen and its counterparties on the sale of the remaining power assets continue to make progress in securing all outstanding third party approvals and Veresen remains confident the company will successfully close the sale of its [Read more]
Headlines
Pembina Pipeline Corporation Reaches Major Milestone by Placing Approximately $2.8 Billion of Integrated Assets into Service
CALGARY, July 4, 2017 /CNW/ - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) announced that it has placed approximately $2.8 billion of integrated capital projects into service, including its Phase III pipeline expansion ("Phase III Expansion") and two connected major delivery points: the Company's third fractionator at Redwater ("RFS III") and its Canadian Diluent Hub ("CDH"). "At the outset of these projects, we committed to constructing large-scale, [Read more]
Perpetual Energy Announces Increase to Credit Facilities
CALGARY, July 4, 2017 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual" or the "Company") is pleased to announce that the Company has entered into a new reserve-based credit facility agreement which increases the borrowing capacity available by 100% to $40 million from the previous $20 million. The increase is a result of Perpetual's improved funds flow performance driven by high graded operations and strong drilling results in the Company's East Edson focus area, coupled with financing [Read more]
Eagle’s 2017 Annual Meeting Result Challenged by Unsuccessful Dissidents
CALGARY, ALBERTA--(Marketwired - July 4, 2017) - Eagle Energy Inc. (TSX:EGL) announced that dissident shareholders Kingsway Financial Services Inc. and Daniel Gundersen have commenced legal action against Eagle. The dissidents allege that Eagle's 2017 annual meeting on June 27 was improperly conducted. Eagle believes that the dissidents' allegations are completely without merit. The meeting was conducted in an impartial manner that was lawful, proper and fair to Eagle shareholders, despite [Read more]
East Shale Basin Tactical Insights
The East Shale Basin is HOT! More than half of the June 21st Alberta land sale bonus was paid for East Shale Basin acreage. Recent drilling activity, improving results and skyrocketing land prices of up to $5,000/ha are focussing attention on this emerging light oil play. With a number of important land sales and disposition packages on the horizon, parties interested in evaluating these opportunities will want to get up the learning curve fast. Canadian Discovery is leveraging its [Read more]
Indian Oil plans to buy N. American sour crude for the first time
India's top refiner has issued its first tender to buy high-sulphur, or sour, crude from North America as it seeks to diversify imports, three trading sources said on Tuesday. The purchase comes after Indian Prime Minister Narendra Modi's visit to the United States last week when President Donald Trump said the U.S looked forward to exporting more energy products to the world's third-biggest oil buyer. It is part of Trump's policy to assert power globally by boosting natural gas, coal and [Read more]
Canadian National Railway says oil spills after train derails in U.S.
Canadian National Railway Co said about 20,000 gallons of oil was released following a freight train derailment at Plainfield, the U.S. state of Illinois on Friday, according to a filing with state pollution regulators. The cause of the derailment was unknown, a filing with the Illinois Emergency Management Agency said on Saturday. Local media reports estimated the spill to be 45,000 gallons. The incident occurred when 20 cars of a Canadian National Railway Co freight train, carrying [Read more]
Butte Energy Inc. Announces Asset Disposal
CALGARY, Alberta, July 02, 2017 (GLOBE NEWSWIRE) -- Butte Energy Inc. (the “Corporation”) (TSXV:BEN.H) announces it has entered into an agreement regarding the sale of its Chigwell properties to RKSmith Energy Corp. for $35,000 (the “Transaction”). The Transaction, if completed, will constitute the final disposition of all the Corporation’s remaining assets and no finders fees will be paid in respect of the Transaction. The closing of the Transaction is contingent upon customary closing [Read more]
Canada Weekly Rig Count Up 19 to 189
Western Canada’s fleet of drilling rigs have risen again this week to 189 actively drilling rigs according to data collected by Baker Hughes for the week of June 30. Drilling activity has increased the last month, and is still very active in comparison to last year’s count. From one week ago, Alberta rig counts rose from 94 to 115, Saskatchewan rig counts decreased for the first time after six consecutive weeks of gains – current count at 46 which is down from 48 last week. Oil drilling [Read more]
AER Issues Order to Journey Energy Inc. Following Two Crude Oil Emulsion Spills
CALGARY, Alberta, June 30, 2017 (GLOBE NEWSWIRE) -- The Alberta Energy Regulator (AER) has issued an order to Journey Energy Inc. (Journey) in response to two releases of an unknown amount of crude oil emulsion near Winfield, Alberta that was originally reported to the AER on June 28, 2017. The order directs the company to: immediately suspend operations, contain the release and prevent it from spreading; identify anyone who may be affected by the release and make sure they are [Read more]