CALGARY, Alberta and NEW YORK, May 17, 2017 /CNW/ -- Vesta Energy Corp. ("Vesta" or the "Company") today announced it has entered into definitive agreements with respect to a C$295 million equity financing round (the "Transaction") priced at C$4.50/share, co-led by energy private equity firms Riverstone Holdings LLC ("Riverstone") and JOG Capital ("JOG"). Other investors in the round include certain funds managed by JOG and the Vesta management team. In conjunction with the investments by [Read more]
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Low-Cost, Low-Maintenance, GEOWEB Oil Drilling Platforms Built for Heavy Traffic & Soft Ground Challenges
Presto’s 3D GEOWEB® system transforms the way drilling platforms and roads are built over soft subgrades and in remote areas. Aggregate confined in the GEOWEB system creates a stable, supportive surface that can sustain repeated loading stresses by heavy vehicles. The GEOWEB soil stabilization technology translates well for oil drilling platforms in the Canadian Oil Sands where ground and weather conditions are especially challenging. Oil company Angle Energy made effective use of the [Read more]
Canadian Natural Resources Limited Announces Normal Course Issuer Bid
CALGARY, ALBERTA--(Marketwired - May 17, 2017) - Canadian Natural Resources Limited ("Canadian Natural") (TSX:CNQ) (NYSE:CNQ) announced today that Toronto Stock Exchange has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid through the facilities of Toronto Stock Exchange or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange. The notice provides that Canadian Natural may, [Read more]
Oilfield services M&A picks up as battered drillers seek lower costs, scale
CALGARY - Canadian drillers and other oilfield service providers have stepped up merger and acquisition activity, with more deals expected in coming months, as players battered by more than two years of weak oil prices look to lower costs and strengthen finances by scaling up. Crude prices have stabilized from the lows of early 2016 and the big energy companies that hire drillers are increasing spending from depressed levels. That has spurred some drillers and related service companies [Read more]
Painted Pony Announces Closing of Strategic Montney Acquisition, Increased Credit Facilities and Director Appointments
CALGARY, May 16, 2017 /CNW/ - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX:PPY) is pleased to announce the closing of the previously announced acquisition (the "Acquisition") of UGR Blair Creek Ltd. ("UGR"), increased credit facilities and the appointment of two directors. UGR operates high working interest Montney assets with established production, infrastructure and land holdings jointly with and adjacent to Painted Pony's assets in northeast British Columbia [Read more]
Pengrowth Receives Continued Listing Standard Notification from the New York Stock Exchange
CALGARY, ALBERTA--(Marketwired - May 16, 2017) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announced that it received notification on May 16, 2017 from the New York Stock Exchange (NYSE) that Pengrowth is no longer in compliance with one of the NYSE's continued listing standards resulting from the average closing price of Pengrowth's common stock being less than US $1.00 per share over a consecutive 30 trading-day period. Non-compliance with the NYSE's price listing standard [Read more]
TransGlobe Energy Corporation Announces Establishment of Reserve-Based Lending Facility on Canadian Assets
TSX: “TGL” & NASDAQ: “TGA” CALGARY, Alberta, May 16, 2017 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the "Company") is pleased to announce that is has entered into a credit agreement for a revolving reserve-based lending facility (“RBL”) with Alberta Treasury Branches (“ATB”). All dollar values are expressed in United States dollars unless otherwise stated. Pursuant to the credit agreement, the RBL commitment is a maximum of C$30 million. The amount available to [Read more]
Alberta Premier says moving National Energy Board to Ottawa would be “dumb”
EDMONTON - Alberta Premier Rachel Notley says a proposal to move part of the National Energy Board's operations to Ottawa is "dumb" and she's opposed to the idea. A federal panel on the modernization of the NEB made the proposal to move to Ottawa the board of directors, a new energy statistical agency, the government co-ordination office, and to shift electricity transmission staff to Ottawa. The panel, however, said that moving all of the NEB, which is focused on pipeline [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. May. 15 Electrician - Journeyman Strike Energy Whitecourt E&I May. 15 Construction Superintendent Strike Energy High Level May. 15 Instrumentation Apprentices Strike Energy Edson May. 15 Electrical [Read more]
Alberta NDP government granted intervener status in Trans Mountain lawsuits
CALGARY - Opponents of the Trans Mountain pipeline expansion have no power to stop it, Alberta Premier Rachel Notley said Tuesday in her strongest rebuke yet since the outcome of the British Columbia election cast doubt over the project. "We understand that some oppose the twinning of the pipeline and I respect their opinions," Notley told a news conference in Edmonton. "But I fundamentally disagree with the view that one province or even one region can hold hostage the economy [Read more]