TORONTO and CALGARY, AB - Inter Pipeline Ltd. ("Inter Pipeline" or the "Company") (TSX: IPL) announces the filing of its management information circular dated September 22, 2021 (the "Circular") and related meeting and proxy materials in connection with the previously announced transaction (the "Transaction") with Brookfield Infrastructure Partners L.P. (NYSE: BIP; TSX: BIP.UN), together with its institutional partners (collectively, "Brookfield Infrastructure"). The Circular and related [Read more]
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Inter Pipeline CEO, CFO to step down; Brookfield executives to assume interim roles
Inter Pipeline Chief Executive Officer Christian Bayle and Chief Financial Officer Brian Heagy will step down from their posts on Oct. 28, the Canadian energy infrastructure firm said on Wednesday. Brian Baker and Paul Hawksworth, executives at Brookfield Infrastructure that bought a controlling stake in the pipeline operator last month, will assume the roles of interim CEO and CFO, respectively, Inter Pipeline added. Brookfield Infrastructure had received 65.6% shares of Inter Pipeline in [Read more]
Well of the Week – The beginning of Montney mania
This is the seventh Well of the Week in a series detailing how resource plays (basin-wide plays where hydrocarbons are the continuous phase) have often driven the Canadian oil and gas industry throughout its history. Links to the previous posts are provided at the bottom of the post. Resource Play: Montney Deep Basin Gas Type Well Well UWI: 100/13-05-075-07W6/00 Drilling/Completion Technology: Rotary/Vertical/Hydraulically Fractured The Montney resource play didn't start with Montney [Read more]
Cenovus announces the early tender results and increase of its pending maximum tender offer
CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the early tender results of its previously announced cash tender offer (the “Maximum Tender Offer”) and that it has increased the maximum aggregate purchase price for the Maximum Tender Offer from up to a maximum aggregate purchase price of $1,000,000,000 to up to a maximum aggregate purchase price of $1,250,000,000 (such increased aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding [Read more]
Tourmaline announces guidance update, 2022 approved budget and free cash flow allocation strategy; declares special cash dividend
CALGARY, AB - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce a guidance update, the approved budget for 2022 and details on its free cash flow ("FCF")(1) allocation strategy, including the declaration of a special cash dividend and an increase in its regular quarterly cash dividend. 2H 2021/2022 EP CAPITAL BUDGET The recently approved 2022 EP capital budget of $1.125 billion is expected to deliver average production of 500,000-510,000 boepd, $3.7 [Read more]
Petrus closes $10 million private placement and full settlement of second lien loan
CALGARY, Alberta - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) is pleased to announce that it has completed the previously announced transactions (the “Transactions”) that will significantly reduce the Company's total debt and also extend the maturity date of the Company’s senior secured credit facility (the "First Lien Loan"). Pursuant to the Transactions, the Company’s subordinated secured term loan (the "Second Lien Loan"), in the principal amount of approximately $39.3 [Read more]
Kiwetinohk Resources completes strategic combination with Distinction Energy to form Kiwetinohk Energy
CALGARY, Alberta - Kiwetinohk Energy Corp. ("Kiwetinohk" or the “Corporation”) is pleased to announce that it has emerged, as prescribed, from the closure of the business combination of Kiwetinohk Resources Corp. ("KRC") and Distinction Energy Corp. ("Distinction") (the "Business Combination"). The Business Combination creates a larger, more efficient and diversified integrated energy company that is positioned to compete in the transition of energy sources with lower associated emissions of [Read more]
Altura Energy Inc. announces closing of previously announced brokered private placement
CALGARY, AB - Altura Energy Inc. ("Altura" or the "Company") (TSXV: ATU) is pleased to announce the closing of its previously announced brokered private placement of an aggregate of 136,112,000 subscription receipts of the Company ("Subscription Receipts") at a price of $0.18 per Subscription Receipt for gross proceeds of $24.5 million (the "Brokered Private Placement"). The Brokered Private Placement was led by National Bank Financial Inc. ("NBF"), along with a syndicate of agents, including [Read more]
Advocacy group Iron & Earth wants victorious Trudeau to keep retraining pledge
Prime Minister Justin Trudeau's narrow election victory this week reinforced Canada's commitment to reach net-zero greenhouse gas emissions by 2050, but workers in the country's sizable fossil fuel sector said they also expect him to keep his promises to retrain them for jobs in a clean-energy economy. Oil worker advocacy group Iron & Earth estimates Canada will need around C$10 billion ($7.8 billion) over 10 years to retrain fossil fuel workers, but is skeptical about government promises [Read more]
FNMPC and Miawpukek First Nation will work together to increase equity participation in LNG Newfoundland & Labrador project
ST. JOHN’S, Newfoundland - The First Nations Major Projects Coalition (FNMPC) and Miawpukek First Nation (MFN) are proud to announce plans to work together towards increased equity participation in the LNG Newfoundland & Labrador Limited project (LNG NL), representing the first ever First Nations equity participation in an offshore energy project in Newfoundland and Labrador. Additionally, the equity participation agreement provides valuable contracts and exciting long term jobs for the [Read more]