CALGARY, ALBERTA--(Marketwired - Jan. 11, 2017) - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX:TVE) is pleased to announce that it has successfully completed the previously announced acquisition (the "Acquisition") of Spur Resources Ltd. ("Spur") pursuant to a plan of arrangement under the provisions of the Business Corporations Act (Alberta). Immediately prior to the closing of the Acquisition, Spur conveyed all of its non-Viking assets to a newly formed private company, to be [Read more]
Headlines
B.C.’s five conditions set out for Trans Mountain pipeline approval
VICTORIA - British Columbia Premier Christy Clark said Wednesday that all of her government's conditions had been met for approval of Kinder Morgan's Trans Mountain pipeline. Here is a list of the conditions the premier unveiled in 2012. 1. Successful completion of the environmental review process. B.C. initially planned to rely on the National Energy Board's review of the expansion. The B.C. Supreme Court ruled last year that the province couldn't simply depend on federal [Read more]
B.C. grants Trans Mountain pipeline environmental approval
VICTORIA - Premier Christy Clark announced British Columbia's support for the expansion of the Trans Mountain pipeline Wednesday, saying the project meets her government's five conditions for approval and includes a revenue-sharing agreement worth up to $1 billion. Clark said she's now convinced Kinder Morgan Canada's $6.8-billion project will protect B.C. from potential environmental damage with world-leading spill prevention and response measures. The project also promises $20 [Read more]
Strategic Oil & Gas Announces Brokered Private Placement
CALGARY, ALBERTA--(Marketwired - Jan. 11, 2017) - Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Company") is pleased to announce that it has appointed Paradigm Capital Inc. (the "Agent") to sell, by way of a private placement on a best efforts basis, common shares (the "Common Shares") of the Company at a price of $0.12 (the "Issue Price") per Common Share for gross proceeds of up to $5,000,000 (the "Offering"). The Agent has been granted the option (the "Agent's [Read more]
MEG Energy announces comprehensive refinancing plan including an extended 5 year covenant-lite revolving credit facility, a CDN$357 MM equity financing and a return to growth 2017 capital budget
CALGARY, ALBERTA--(Marketwired - Jan. 11, 2017) - MEG Energy Corp. ("MEG" or the "Company") (TSX:MEG) announced today comprehensive refinancing transactions which are expected to support a strengthened balance sheet, as well as increased production and reduced costs through an expansion of the Company's growth program. The refinancing plan retains the covenant-lite flexibility of its current debt structure. MEG also announced today its 2017 capital investment plan and operational [Read more]
Barack Obama has been a disaster for Alberta’s oil industry
After eight long years, President Obama's reign is nearing its end. He is widely viewed as a popular figure across Canada--mainly eastern Canada where he is viewed positively by nearly 80% of the population. If eastern Canadians had more pride in their national oil and gas resources, they would not see President Obama in the same glowing light. He has been one of the biggest challenges to face Canada's oil industry, and his departure from the White House--especially given his successor--is a big [Read more]
NEB seeks public input on expanded pipeline emergency plan disclosure rules
CALGARY - The National Energy Board says it will require companies making pipeline applications to provide more detail on their emergency response plans. The federal regulator says the rule changes are being made in response to frequent demands from participants at its recent public hearings. It launched a 60-day online public comment period Wednesday to gather input to be used in the final draft of its ruling. The new rules are expected to require more information at the [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces Closing of $69 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - Jan. 11, 2017) - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX VENTURE:TWM) announces that it has closed its previously announced bought deal financing. A total of 44,231,300 common shares have been issued at a price $1.56 per share for gross proceeds of $69,000,828, which included the exercise in full of the over-allotment option granted to the underwriters (the "Offering"). The syndicate of underwriters was co-led by [Read more]
Front Range reports Montney Discovery at West Pepper, Alberta and Operations Update
CALGARY, AB--(Marketwired - January 11, 2017) - Front Range Resources Ltd. ("Front Range" or the "Company") (TSX VENTURE: FRK) is providing an update regarding its ongoing drilling program at Pepper, Alberta. Both wells of the current program are located within the Company's 33-section Pepper land block where Front Range is operator and has a 100% working interest. The West Pepper Upper Montney well represents the southernmost horizontal Montney discovery drilled to date (42 kilometres from the [Read more]
Delphi Energy Corp. Announces 2017 Budget and Development Plan to Significantly Accelerate Drilling Activity and Production Growth
CALGARY, ALBERTA--(Marketwired - Jan. 11, 2017) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to announce that the Company's Board of Directors has approved the 2017 capital and operating budget following the closing of the previously announced $50.0 million Bigstone Montney Transaction (the "Transaction") and the announcement of a new $80.0 million senior secured credit facility with Alberta Treasury Branches, as syndicate lead, which also includes the Bank of Nova [Read more]