CALGARY, ALBERTA--(Marketwired - March 30, 2017) - Razor Energy Corp. ("Razor" or the "Company") (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce our operating and financial results for the three and 12 month periods ended December 31, 2016. Our full audited consolidated financial statements and notes thereto, as well as management's discussion and analysis ("MD&A") can be found on SEDAR at www.sedar.com. OPERATIONS UPDATE Since entering negotiations to acquire oil and gas [Read more]
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Tidewater Midstream and Infrastructure Ltd. Announces Year End 2016 Results, Ten-Year Processing Agreement and Reserve Dedication at the Brazeau River Complex, Strategic Acquisitions, Operational Update and Increase to Credit Facility
CALGARY, AB--(Marketwired - March 30, 2017) - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX VENTURE: TWM) is pleased to announce that it has filed its audited consolidated financial statements, Management's Discussion and Analysis ("MD&A") and Annual Information Form for the year ended December 31, 2016. Highlights Tidewater maintained strong financial results in the fourth quarter of 2016, generating adjusted earnings before interest, taxes, [Read more]
Profits made of sand: Specialty sand market heats up as oil, gas drilling rebounds
CALGARY - Signs of the Canadian oil and gas industry's recovery from a punishing two-year downturn are emerging in unlikely places, including fine grains of sand. Demand for the especially round and crush-proof type of sand used to help extract shale oil and gas is climbing, as more drilling rigs get fired up and operators pump higher amounts of sand into wells, say industry watchers, who foresee a big jump in the year ahead. "Things have really picked up," said Thomas Jacob, an [Read more]
National Energy Board Hearing Panel to Review Energy East and Eastern Mainline applications concurrently
CALGARY, March 29, 2017 /CNW/ - A National Energy Board (NEB) Hearing Panel will review the Energy East and Eastern Mainline Pipeline Projects concurrently. After reviewing comments from 11 groups and individuals, the Hearing Panel said that the two project applications are closely interrelated and would be most efficiently assessed through a coordinated approach. Energy East is a 4,500-kilometre pipeline proposed to carry 1.1-million barrels of crude oil per day from Alberta and Saskatchewan [Read more]
“Transformational acquisition” says Cenovus boss of acquiring ConocoPhillips Alberta assets
CALGARY - Cenovus Energy (TSX:CVE) announced Wednesday it will spend $17.7 billion to acquire most of the Canadian assets of ConocoPhillips, making the Houston-based company the latest international player to reduce its exposure to the oilsands. Cenovus CEO Brian Ferguson called it a "transformational acquisition" for the Calgary-based company. "The purchase of these assets is consistent with Cenovus's existing strategy and core competencies," Ferguson said in a [Read more]
ConocoPhillips Announces Sale of Foster Creek Christina Lake Partnership Interest and Western Canada Deep Basin Gas Assets to Cenovus for USD $13.3 Billion; Significant Transaction Accelerates Value Proposition
Cash portion of proceeds will be used to reduce debt to $20 billion in 2017 and double existing share repurchase authorization to $6 billion Transaction significantly improves underlying financial and portfolio metrics HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced it has signed a definitive agreement with Cenovus (TSX: CVE) (NYSE: CVE) to sell its 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the majority [Read more]
Cenovus Announces $3.0 Billion Bought-Deal Offering of Common Shares
CALGARY, ALBERTA--(Marketwired - March 29, 2017) - Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) ("Cenovus") announced today that it has entered into a bought-deal financing agreement to sell 187.5 million common shares ("Common Shares") at a price of $16.00 per share (the "Offering"). The Offering will be made through a syndicate of underwriters (the "Underwriters") led by RBC Capital Markets and J.P. Morgan. The gross proceeds from the Offering will be approximately $3.0 billion. The Offering is [Read more]
Cenovus to Double Production and Reserves in Canada
CALGARY, ALBERTA--(Marketwired - March 29, 2017) - Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) has agreed to acquire ConocoPhillips' 50% interest in the FCCL Partnership, the companies' jointly owned oil sands venture operated by Cenovus. Cenovus is also purchasing the majority of ConocoPhillips' Deep Basin conventional assets in Alberta and British Columbia. Combined, these assets have forecast 2017 production of approximately 298,000 barrels of oil equivalent per day (BOE/d). The acquisition is [Read more]
National Energy Board Hearing Panel to Review Energy East and Eastern Mainline applications concurrently
CALGARY, March 29, 2017 /CNW/ - A National Energy Board (NEB) Hearing Panel will review the Energy East and Eastern Mainline Pipeline Projects concurrently. After reviewing comments from 11 groups and individuals, the Hearing Panel said that the two project applications are closely interrelated and would be most efficiently assessed through a coordinated approach. The Eastern Mainline Pipeline is a proposal to build approximately 279 kilometres of new gas pipeline and related components, [Read more]
Premier Brad Wall invites Calgary energy companies to relocate to Saskatchewan
CALGARY - Saskatchewan Premier Brad Wall is taking a turf war with Alberta to its economic heart, inviting energy companies based in Calgary to move their headquarters to his province. In a letter to Whitecap Resources (TSX:WCP) dated Monday, Wall offers to subsidize relocation costs, trim taxes and royalties and help find space in unused government buildings if the oil and gas firm moves to Saskatchewan. Wall cites reductions to corporate and personal income taxes promised in [Read more]