CALGARY - AltaGas Ltd. has confirmed it's in talks on a potential transaction after the Wall Street Journal reported that it was negotiating to combine with WGL Holdings Inc. in a deal worth US$5 billion to $6 billion. Calgary-based AltaGas (TSX:ALA) did not name the third party, adding in its statement that no agreement has been reached and there is no assurance that these discussions will continue or that any transaction will be agreed upon. Washington, D.C.-based WGL Holdings [Read more]
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MEG Energy announces pricing of Senior Secured Notes due 2025 offering
CALGARY, AB--(Marketwired - January 12, 2017) - MEG Energy Corp. (TSX: MEG) announced today the pricing of its previously announced private offering of US $750 million in aggregate principal amount of new senior secured notes due 2025 (the "Secured Notes"). The Secured Notes will initially be issued through a wholly-owned subsidiary of MEG. The Secured Notes will bear interest at a rate of 6.50%. MEG intends to use the net proceeds, together with cash on hand, to finance the redemption of all of [Read more]
Altura Energy Inc. Announces Operations Update and New Upper Mannville Oil Pool
CALGARY, Jan. 12, 2017 /CNW/ - Altura Energy Inc. ("Altura" or the "Corporation") (TSX Venture: ATU) is pleased to provide an operations update which includes results from a horizontal well drilled in a new Upper Mannville oil pool in the Leduc-Woodbend area of Alberta and a new Sparky oil prospect in the Macklin area on the Alberta/Saskatchewan border. OPERATIONS UPDATE Drilled 4.0 (3.5 net) wells in the fourth quarter and 7.0 (6.5 net) wells during 2016. Fourth quarter [Read more]
Zargon Oil & Gas Ltd. Announces Hedging of 650 BBL/D of Oil
CALGARY, ALBERTA--(Marketwired - Jan. 12, 2017) - Zargon Oil & Gas Ltd. (TSX:ZAR)(TSX:ZAR.DB) ("Zargon") announces that it has entered into an additional hedge to fix the WTI price of oil on 650 barrels per day of oil production at an average of $71.50 in Canadian dollars for the period February to December 2017. When this hedge is combined with previously announced hedges the total volumes hedged from February to December 2017 are 1,300 barrels per day at an average price of $69.24 in [Read more]
Private company enters into agreement to purchase Twin Butte Energy
FTI Consulting, the receiver that is currently operating Twin Butte Energy announced a private company named Henenghaixin Operating Corp, has entered into a purchase and sale agreement to acquire Twin Butte. Recent court records on FTI Consulting's website show the receiver is recommending the sale of Twin Butte to the private company on January 18 at 2:00pm appearing before The Honourable Madame Justice G. Campbell. Twin Butte ran into financial troubles when its creditors placed the [Read more]
MEG Energy announces increase to previously announced bought deal financing to $450 million
CALGARY, ALBERTA--(Marketwired - Jan. 12, 2017) - MEG Energy Corp. ("MEG" or the "Company") (TSX:MEG) announced today that, due to strong demand, the Company has increased the size of its previously announced public offering to 58,100,000 subscription receipts (the "Subscription Receipts"), at a price of $7.75 per Subscription Receipt (the "Offering Price"), for aggregate gross proceeds to the Company of approximately $450 million (the "Offering"). The Company has granted the Underwriters an [Read more]
Heritage Royalty: Palliser South Ellerslie Prospects
Heritage Royalty is marketing fee simple mineral rights for Farmout/Lease under three Ellerslie formation prospects in Palliser South. The prospects identify horizontal development opportunities in the Ellerslie formation by using production analogs. Highlights Prospect Area #1 Prospect Area #2 Prospect Area #3 T17 R13 W4M: 4 & 5 T17 R12 W4M: E13, E24 & E25 T14 R13 W4M: 8-10 & 14-17 T16 R13 W4M: 29-33 T17 R11 W4M: W18, W19, 21 & 29 PNG in [Read more]
Mooncor to Re-Activate its Wells
TORONTO, ONTARIO--(Marketwired - Jan. 12, 2017) - Mooncor Oil & Gas Corp. (the "Company") (TSX VENTURE:MOO) is pleased to announce that it intends to re-activate its two oil wells (the "Wells") located in Lloydminster, Alberta. The Wells remained inactivate due to the historically low oil prices but the recent recovery in oil prices has made it economically feasible to reactivate the Wells. The Wells require some relatively minor maintenance work and repairs in order to restore them to [Read more]
Pan Orient Energy Corp.: Operations and Corporate Update
CALGARY, ALBERTA--(Marketwired - Jan. 12, 2017) - Pan Orient Energy Corp. ("Pan Orient" or the "Company") (TSX VENTURE:POE) is providing an operations and corporate update. INDONESIA Batu Gajah PSC (Pan Orient 77% & Operator) The current 10 year term of the Batu Gajah Production Sharing Contract ("PSC") expires on January 15, 2017. Recent discussions with the Government of Indonesia ("GOI") have indicated the possibility of a one year extension to the exploration term of the PSC, [Read more]
MEG Energy announces proposed offering of Senior Secured Notes due 2025
CALGARY, ALBERTA--(Marketwired - Jan. 12, 2017) - MEG Energy Corp. (TSX:MEG) announced today that is planning to commence, subject to market and other conditions, a private offering of US $750 million in aggregate principal amount of new senior secured notes due 2025 (the "Secured Notes"). The Secured Notes will initially be issued through a wholly-owned subsidiary of MEG. MEG intends to use the net proceeds, together with cash on hand, to finance the redemption of all of its outstanding 6.50% [Read more]