CALGARY, June 20, 2017 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it is entering into a private placement of 10-year senior unsecured notes (the "Notes") totaling CAD$400 million with a group of institutional investors in Canada and the United States. The Notes will bear interest at 3.68% and mature on September 20, 2027. RBC Capital Markets, LLC acted as lead placement agent on the offering and Citigroup Global Markets Inc. acted as co-placement agent. The transaction [Read more]
Headlines
Cenovus CEO to retire; company to announce sale of $4B-$5B in assets
CALGARY - Cenovus Energy (TSX:CVE) shares fell more than 10 per cent on Tuesday after the oil company announced plans for more asset sales, deeper cost-cutting and the unexpected retirement of CEO Brian Ferguson. Its stock fell as low as $9.11 or 11.4 per cent from Monday's close and down about 48 per cent since it announced in late March a $17.7-billion blockbuster deal buy assets from ConocoPhillips. "It has been a trying time for our shareholders," Ferguson said during a [Read more]
Enercore Energy Capital Delivers Fresh International Capital to the Canadian Junior Oil and Gas Market
Enercore Energy Capital Opens New Office in Calgary to Facilitate International Debt and Equity Capital Into the Canadian O&G Market Calgary, Alberta– (June 1, 2017) - Enercore Energy Capital, a boutique capital advisory firm, is pleased to announce the opening of a new office in Calgary, with the mandate of attracting international capital to the presently challenged junior oil and gas market in Canada. Perry M. Anderson, CEO and Managing Partner of Enercore Energy Capital, states [Read more]
E3 Metals Corp Signs Collaboration Agreement with the University of Alberta to Develop Technologies for Lithium Extraction
Vancouver, British Columbia - (June 19, 2017) – E3 METALS CORP. (TSX.V: ETMC.H) (the “Company” or “E3 Metals”) is pleased to announce that it has signed a collaboration agreement with the University of Alberta (the “U of A”) for the purpose of developing lithium extraction process technology. The goal of this collaboration is to develop a cost-effective technology to extract lithium from brines, specifically the lithium-enriched Petro-Brines present within the company’s permit areas. E3 Metals [Read more]
Substandard pop-culture energy reporting is going to cost us some day
It doesn’t seem fair to pick on big media machines for cranking out low-grade stuff that panders to current fashion in an arms-flailing attempt at popularity. I’d do the same if I were ambitious. The tactic isn’t a big deal when the readership is fervently awaiting news about, for example, Taylor Swift’s new boyfriend, but when it comes to matters of energy – i.e., what feeds us, moves us, and keeps us warm – we should hope that mainstream news editors might apply some critical thinking before [Read more]
Business model has changed for Western Canadian junior oil and gas industry
The business model for junior oil and gas producers in western Canada has changed dramatically over the last 10 years, with the loss of the royalty trust model the junior industry no longer has a willing buyer ready to snap them up the minute they reach a certain size or discover a promising field where production could be easily ramped up with a large development drilling program. Junior E&P companies were forced to change their models with some companies focusing more on long term growth [Read more]
Canada Energy Partners Updates Appeal Process for Water Disposal
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 20, 2017) - The Oil & Gas Appeal Tribunal of British Columbia (the "Tribunal") has revised the timeline for Canada Energy Partners Inc.'s (TSX VENTURE:CE) (the "Company") appeal of the order issued by the British Columbia Oil & Gas Commission ("OGC") suspending all disposal activities at the Company's water disposal well in northeast British Columbia. All submissions related to the appeal must now be delivered by July 20th, after which the [Read more]
Cenovus President & Chief Executive Officer Brian Ferguson to retire
CALGARY, Alberta, June 20, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced that its President & Chief Executive Officer Brian Ferguson will be retiring as an officer and director of the company on October 31, 2017. Ferguson will continue in his roles leading the company and serving on the Board of Directors until that time. The Board will engage immediately in a broad global search for a new President & Chief Executive Officer. Following his retirement [Read more]
Cenovus plans to grow free funds flow 14% a year through 2021
Company targets $4 billion to $5 billion in asset sale agreements by year end CALGARY, Alberta, June 20, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today put forward a five-year plan that the company expects will generate 14% annualized free funds flow growth through 2021 at a West Texas Intermediate (WTI) price of US$55 per barrel (bbl) while increasing production at a 6% compound annual growth rate and reducing its debt. The plan entails disciplined capital investment [Read more]
Encana increases Permian type curves and premium return inventory; driving efficiency with cube development
CALGARY, Alberta, June 20, 2017 (GLOBE NEWSWIRE) -- Encana’s (TSX:ECA) (NYSE:ECA) cube development approach combined with advanced completion practices have significantly enhanced its Permian well performance and led to a 20 percent increase in the company’s Permian type curves and 700 new premium return locations. The 700 new premium return locations is five times the quantity the company will drill this year and brings total premium return locations in the play to 3,450. Encana expects it will [Read more]