CALGARY, Feb. 17, 2017 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) is pleased to announce that it has closed its previously reported private placement of 30.8 million Common Shares at NOK 5.00 or C$0.79 per Common Share for gross proceeds of NOK 154 million or approximately C$24 million (the "Private Placement"). The Company intends to use the net proceeds from the Private Placement to strengthen its working capital, partially financing its [Read more]
Headlines
Petrus Resources Announces Increase to Previously Announced Private Placement
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2017) - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX:PRQ) - Petrus is pleased to announce that it has increased the size of its previously announced non-brokered private placement to up to 4,350,000 common shares of the Company ("Common Shares") at a purchase price of $2.53 per Common Share, for aggregate gross proceeds of up to $11,005,500 (the "Private Placement"). Closing of the Private Placement is expected to occur on or about February 28, [Read more]
Petrocapita Provides an Update on Proceeds of $11.952 Million Debentures
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2017) - Petrocapita Income Trust (CSE:PCE.UN)(CSE:PCE.UN.CN) ("Petrocapita" or the "Trust") announces the close of an additional $427,000, for aggregate gross proceeds to date of $6,952,000 from the sale of its 8% secured convertible debentures (the "Convertible Debentures") pursuant to its previously announced private placement offering of these Convertible Debentures. The maximum amount to be raised has been increased to $15,000,000. This is in [Read more]
Canada rig count falls as drilling season begins to slow
Canada's fleet of active drilling rigs decreased by 21 this week according to data collected by Baker Hughes; 331 rigs are active this week. This is still fairly strong compared to last year around this time, when there were only 206 rigs active. Of the active rigs, 194 are drilling for oil; 137 for gas. 70% of the active rigs are in Alberta. Canada's activity levels are trending in the opposite direction compared to its southern neighbour. The United States has 751 drilling rigs active [Read more]
Here’s a map of all the orphan wells in Alberta
The Alberta Energy Regulator's recent enforcement against Lexin Resources, placed a large portion of the company's assets into the care of Alberta's Orphan Well Association(OWA). Currently, in the OWA database, there are 697 wells under reclamation and 1590 wells to be abandoned--however that number will rise by several hundred after Lexin's wells are added to the list. Here is a map of wells in Alberta with the most current data from the Orphan Well Association: OWA Reclamation Site [Read more]
Pulse Oil Corp. Provides an Update on Its Qualifying Transaction
KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2017) - Pulse Oil Corp. ("Pulse" or the "Corporation") (TSX VENTURE:PUL.H) announces the TSX Venture Exchange (the "Exchange") has conditionally approved Pulse's proposed Qualifying Transaction as previously described in news releases dated October 13, 2016, October 18, 2016 and November 30, 2016. Pulse previously executed a definitive asset purchase agreement with Hydrate Resources Corp. ("Hydrate") on November 8, 2016 and the purchase price is [Read more]
AIMCo Announces Significant Investment in Perpetual Energy Inc.
EDMONTON, Feb. 17, 2017 /CNW/ - Alberta Investment Management Corporation ("AIMCo") is pleased to announce that it has signed a letter of commitment and a subscription agreement, on behalf of certain of its clients, to enter into a strategic financing relationship with Perpetual Energy Inc., ("Perpetual") (TSE: PMT). The transaction is anticipated to close in early March 2017. Based upon the terms of the commitment letter and the subscription agreement, the financing relationship provides for [Read more]
Enbridge Inc. Reports Fourth Quarter 2016 Results
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2017) - Q4 HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Earnings were $365 million or $0.39 per common share for the fourth quarter and $1,776 million or $1.95 per common share for the full year, both including the impact of a number of unusual, non-recurring or non-operating factors Adjusted earnings were $522 million or $0.56 per common share for the fourth quarter and $2,078 million or [Read more]
Inter Pipeline Reports Record 2016 Financial Results
CALGARY, ALBERTA--(Marketwired - Feb. 16, 2017) - Inter Pipeline Ltd. (Inter Pipeline) (TSX:IPL) announced today financial and operating results for the three and twelve month periods ended December 31, 2016. 2016 Highlights Generated record funds from operations (FFO) of $849 million, a 10 percent increase over 2015 results Realized a net income increase of three percent, to a record $478 million for the year Declared annual cash dividends of $539 million, or $1.57 per share [Read more]
North Dakota Officials Haggle Over How To Pay For Pipeline Camp Cleanup
North Dakota public officials want to focus on cleaning up trash at campsites near the Dakota Access Pipeline before determining how to pay for the cleanup. Officials are worried warm weather and rapid snowmelt could cause floods around the campsites dotting the controversial project. They think the thousands of pounds of trash could pollute the Missouri River, among other waterways – officials are not concerned about how to pay for the cleanup. “With the amount of people that have been [Read more]