CALGARY, ALBERTA--(Marketwired - Dec. 6, 2016) - Tervita Corporation and certain of its affiliates ("Tervita" or the "Company") announced today that, in connection with the previously announced proposed recapitalization transaction (the "Recapitalization Transaction") described in the Company's management information circular dated October 28, 2016, the Company obtained a final court order from the Alberta Court of Queen's Bench approving its plan of arrangement under the Canada Business [Read more]
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Gibsons Announces Budgeted 2017 and Preliminary 2018 Capital Expenditure Plans, Senior Management Changes and an Update on the Industrial Propane Sales Process
CALGARY, ALBERTA--(Marketwired - Dec. 6, 2016) - Gibson Energy Inc. ("Gibsons" or the "Company"), (TSX:GEI), announced today that its Board of Directors has approved a 2017 growth capital expenditure budget in the range of $150 million to $250 million. Additionally, the Board of Directors has approved the allocation of $45 million to upgrade and replacement capital expenditures. "Our 2017 growth capital expenditure plan is weighted more than 90% towards infrastructure projects and reflects [Read more]
Sinopec Canada Awarded Top Prize for Chinese Investment in Canada
CALGARY, AB--(Marketwired - December 06, 2016) - Sinopec Canada is pleased to announce that it was the recipient of the Gold Business Excellence Award from the Canada China Business Council (CCBC) in the category of Chinese Investment in Canada. The award was presented at the CCBC's biennial luncheon held in Toronto on December 2, 2016. The independent panel of judges highlighted Sinopec Canada's cultural integration, community investment and contributions to the Canadian economy in [Read more]
Marquee Energy Ltd. and Alberta Oilsands Inc. Announce Successful Completion of Arrangement
CALGARY, AB--(Marketwired - December 06, 2016) - Marquee Energy Ltd. (formerly Alberta Oilsands Inc.) ("New Marquee") (TSX VENTURE: MQX) today announced the completion of the previously announced acquisition of Marquee Energy Ltd. ("Old Marquee") (TSX VENTURE: MQL) by Alberta Oilsands Inc. ("AOS") (TSX VENTURE: AOS) by way of a plan of arrangement (the "Arrangement") and the subsequent completion of the short-form vertical amalgamation to form New Marquee. Pursuant to the Arrangement, holders of [Read more]
Pine Cliff Energy Ltd. Announces $31.4 Million Disposition of Non-Core Oil Assets and Management Update
CALGARY, ALBERTA--(Marketwired - Dec. 6, 2016) - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce that it has entered into an agreement to sell a non-core oil asset (the "Disposed Assets") for $31.4 million, prior to any closing adjustments (the "Disposition"), consisting of approximately $26.4 million in cash and approximately $5.0 million in TSX-listed common shares of the purchaser. The Disposed Assets include approximately 500 barrels of oil [Read more]
Georox Resources Announces Red Earth, Alberta Project Update
KELOWNA, BC, Dec. 6, 2016 /CNW/ - Georox Resources Inc. ("Georox" or the Corporation") (GXR:TSX-V; OF6A:FRA) Recently Georox has initiated a process to enhance production and reduce operating costs from its existing oil wells at Red Earth, Alberta. In addition the company has pre evaluated opportunities beyond primary oil recovery. The Corporation owns 2.125 sections of land and operates eight wells. The property is located approximately 320 km northwest of Edmonton. Georox is producing 78 [Read more]
Fraser Institute News Release: Alberta increasingly unattractive for oil and gas investment, according to annual global survey
CALGARY, AB--(Marketwired - December 06, 2016) - Alberta continues to look less attractive for investment in the eyes of oil and gas companies, while neighbouring Saskatchewan keeps looking better, finds the annual global survey of petroleum-sector executives released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. "The Alberta government has introduced policies that are confusing and possibly costly, creating uncertainty for the oil and gas [Read more]
Saskatchewan has drilled more oil wells than Alberta so far in 2016
According to data tracked by the BOE Report's Well Activity Map, Saskatchewan has drilled 1,428 oil wells in the first 11 months of 2016 versus 1,378 in Alberta. Oil wells include crude oil and crude bitumen. 95% of the wells drilled in Saskatchewan were completed horizontally versus 50% in Alberta. Total well counts do favour Alberta, however, due to gas drilling which adds an additional 727 wells its count. For 2017, the Petroleum Services Association of Canada (PSAC) forecasts 1,940 [Read more]
Suncor Energy successfully resolves $1.3 billion tax dispute with Canada Revenue Agency
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2016) - Suncor today reports that the Tax Court of Canada has issued a favourable Order resolving the previously disclosed dispute with the Canada Revenue Agency (CRA). The dispute was in regards to the income tax treatment of realized losses in 2007 on the settlement of certain derivative contracts. The Tax Court Order confirms the successful resolution of this matter between Suncor and the CRA, resulting in no additional taxes, interest or penalties. [Read more]
Pembina Pipeline Corporation Announces 2017 Capital Program of $1.9 Billion and Alberta Government Royalty Credit Award
(All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to earnings before interest, taxes, depreciation and amortization ("EBITDA") which is a financial measure that is not defined by Generally Accepted Accounting Principles ("GAAP"). For more information about EBITDA, see "Non-GAAP Measures" herein.) CALGARY, Dec. 5, 2016 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced that its Board of [Read more]