CALGARY, ALBERTA--(Marketwired - Nov. 15, 2016) - Enbridge Inc. (TSX:ENB)(NYSE:ENB) ("Enbridge" or the "Company") today announced that it has entered into an agreement with a group of underwriters to sell 20 million Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17 (the "Series 17 Preferred Shares") at a price of $25.00 per share for distribution to the public. Closing of the offering is expected on or about November 23, 2016. The holders of Series 17 Preferred Shares will [Read more]
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Shaman Energy Corporation Oil & Gas Property Offering
Shaman Energy Corporation has retained CB Securities Inc. as its exclusive advisor for the sale of all its properties. This is an invitation to submit a Non-Binding Bid by November 30, 2016. Sundance Gas Property (54-22 W5M) ~3.8 MMcf/day current net sales gas production ~20 Bbls/day current net condensate production ~$2.28 million of next 12 months net cash flow at $2.75Cdn/GJ AECO gas and $50US/Bbl condensate 12.65 net producing wells (23.7% average non-operated working [Read more]
TransCanada ends Mainline open season, open season bids fall short
CALGARY - TransCanada Corp. (TSX:TRP) says it's not going ahead with a plan for new lower-priced long-term contracts for Alberta natural gas shippers that want to use its Canadian Mainline system. The company says the "open season" resulted in bids that fell well short of the volumes required to make the plan viable. The Canadian Mainline system extends from the Empress receipt point in Alberta to the Dawn hub, near Sarnia, Ont. The proposal for a new round of binding [Read more]
Treeline Well Services Inc.: Painting the patch pink
For the month of October, Treeline Well Services Inc. committed to donating to the Canadian Breast Cancer Foundation $1 for every hour their rigs worked. All told, the campaign was a great success. 12 to 14 of the company's 18 service rigs operated throughout the province, working on both oilsands and conventional oil sites. "We initially hoped to rack up 3,500 rig hours to assist the Canadian Breast Cancer Foundation in Calgary," said Accounts Manager Matt Dagart. "But we ended [Read more]
Warren Buffett’s Berkshire Hathaway sells its stake in Suncor Energy
CALGARY - Warren Buffett has sold the rest of his holdings in Suncor Energy Inc. (TSX:SU). According to filings with the U.S. Securities and Exchange Commission, Buffett's Berkshire Hathaway no longer holds any shares in the Canadian energy company. The quarterly regulatory filing lists his investments as of Sept. 30. Berkshire Hathaway began selling its stake in Suncor earlier this year. An earlier regulatory filing disclosed Berkshire Hathaway held about 22.3 [Read more]
Connate Water Solutions Inc: Providing Low Cost Water Solutions for Unconventional Producers
Mark Twain said it the best: “Whiskey is for drinking, Water is for fighting." About 12 million cubic metres of water was used to hydraulically stimulate 3,396 wells in Alberta in 2014 and much was sourced from surface water and non-saline aquifers. However, to put this in perspective by sector, hydraulic fracturing water usage in Alberta was only 0.3% of the annual water allocation (AEP, 2014). Connate Water Solutions Inc. is focused on eliminating surface water usage and reducing [Read more]
Manitok Energy Inc. Announces Initial Production Test Results of 442 boe/d From Its Second Carseland Well in the 2016 Drilling Program
CALGARY, ALBERTA--(Marketwired - Nov. 15, 2016) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to announce that it has initial production test results from its second horizontal well of the fourth quarter drilling program. The 13-33-022-25W4 horizontal well (100% working interest) in Carseland, targeted the Lithic Glauconitic ("LG") zone and was completed with a multi-stage fracture stimulation. In the last 24 hours of the production test, and after flowing [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces Third Quarter 2016 Results
CALGARY, AB--(Marketwired - November 15, 2016) - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX VENTURE: TWM) is pleased to announce that it has filed its unaudited condensed consolidated interim financial statements and Management's Discussion and Analysis ("MD&A") for the period ended September 30, 2016. Highlights Tidewater maintained strong financial results in the third quarter of 2016, generating adjusted earnings before interest, taxes, depreciation [Read more]
Fort McMurray wildfire recovery to spur $5.3 billion in spending by end of 2019
CALGARY - The massive efforts to respond to and rebuild after the wildfire of Fort McMurray, Alta., will spur economic growth in the coming years but leave insurance companies and governments with a tab of more than $5 billion, says a new report. The Conference Board of Canada said in a paper released Tuesday that the spending will add 0.4 per cent or $1.1 billion to Alberta's GDP next year, followed by growth of 0.2 per cent and 0.1 per cent in 2018 and 2019, respectively. The [Read more]
Notley defends oilsands group appointees, Wildrose wants them fired
CALGARY - The Alberta government is facing renewed criticism over its choice of panellists to head up its oilsands advisory group. The Wildrose party is calling for co-chair Tzeporah Berman and another appointee, Karen Mahon, to be fired. The opposition party claims Mahon sent out a fundraising email “imploring people to fight against the Kinder Morgan pipeline.” Berman is a well-known anti-oilsands advocate. She co-chairs the group with Dave Collyer, the former [Read more]