CALGARY, Sept. 6, 2016 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces preliminary guidance for 2017, with production averaging more than 13,650 boepd, and a 2017 production exit rate of 14,150 boepd. In addition, Surge announces an upward revision to the Company's previously announced 2016 production exit rate estimate from 13,000 boepd to 13,500 boepd. PRELIMINARY GUIDANCE FOR 2017 In 2017 Surge plans to deliver approximately five percent growth in production [Read more]
Headlines
Enbridge and Spectra Energy to Combine to Create North America’s Premier Energy Infrastructure Company with C$165 Billion Enterprise Value
Transaction creates increased scale, asset diversity, financial flexibility and an industry leading secured project portfolio and development project inventory Highlights: Creates largest energy infrastructure company in North America with C$165[1] billion (US$127 billion) enterprise value Anticipated 15 percent annualized dividend increase in 2017 and annual 10-12 percent dividend growth thereafter through 2024. Industry leading secured project and risked development inventory of [Read more]
Kaymus Resources Inc. Announces Closing of Non-brokered Private Placement and Shares for Debt Transaction
CALGARY, ALBERTA--(Marketwired - Sept. 6, 2016) - Kaymus Resources Inc. (the "Company") (NEX:KYS.H) announces that it has completed its previously announced non-brokered private placement of 4,600,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of $230,000. Each Unit is comprised of one common share (a "Common Share"), and one Common Share purchase warrant (a "Warrant") with an exercise price $0.05 per warrant, expiring 24 months from the date of grant (the "Offering"). [Read more]
Trident Exploration Corp Announces New Board of Directors
CALGARY, Sept. 5, 2016 /CNW/ - Trident Exploration Corp. ("Trident" or the "Company") is pleased to announce changes in ownership and introduce its new board of directors. Upon completion of the Company's recapitalization scheduled for September 6, 2016, certain funds managed by Origami Capital Partners ("Origami"), a registered investment advisor based in Chicago, Illinois with investments of over US$700 million since its inception in 2008, will hold a majority of Trident's issued and [Read more]
Anti-Oil Pipeline Protest Turns Violent, As Protesters Clash With Security Officials
A protest of the multi-state, $3.8 million oil pipeline turned violent Saturday when members of a Native American tribe in North Dakota and private security forces clashed as construction crews began work on the project. Morton County Sheriff’s Office spokeswoman Donnell Preskey told reporters four security guards not affiliated with law enforcement and two guard dogs were injured as several hundred protesters living in the Standing Rock Sioux reservation confronted pipeline workers at the [Read more]
Iran Is Back In The Global Oil Game
Iranian oil production is surging after President Barack Obama ended years of sanctions, according to data compiled by Bloomberg. Production is almost at 2011 levels, sparking conflict with the country’s rivals in the global oil market. #Iran tells #APPEC forum it's ready to raise #oil output to 4m b/d within 2-3 months #OOTT #OPEC #SaudiArabia pic.twitter.com/6en4LbcpGN — Javier Blas (@JavierBlas2) September 5, 2016 Iranian oil will certainly make the already sour relationship with Saudi [Read more]
‘A poke in the ribs:’ Group pitches equalization for pipelines to Ottawa
CALGARY - A group that represents oilfield service and supply companies asked Ottawa earlier this year to use equalization payments as leverage to get reluctant provinces onside with pipeline projects. The Petroleum Services Association of Canada made the pitch last February as part of its federal budget submission, which was obtained by The Canadian Press through an access-to-information request. The association recommended that the federal government "amend equalization [Read more]
US crude exports competitive to Asia-Pacific, new delivered Argus prices show
SINGAPORE, Sept. 5, 2016 /PRNewswire/ -- A drop in global shipping costs and competitive pricing of crude produced in North America is opening the door for US crude exports to reach Asia-Pacific more economically than rival grades from elsewhere in the Atlantic basin, including the North Sea and west Africa, according to a comparison of delivered crude prices launched by global commodity market price reporting agency Argus this month. US crude exports to countries other than Canada soared to [Read more]
Trudeau sidesteps question about concerns over Energy East pipeline hearings
HANGZHOU, China - Justin Trudeau sidestepped a question Saturday when asked about concerns over the independence of the National Energy Board hearings into the Energy East oil pipeline project. Hearings into the controversial project were suspended last week after the federal regulatory body received motions calling for the resignation of two panel members. The motions were filed after a news report revealed the two members met in early 2015 with ex-Quebec premier Jean Charest, [Read more]
Twin Butte Energy Announces Appointment of Receiver
CALGARY, Sept. 2, 2016 /CNW/ - Twin Butte Energy Ltd. (TSX: TBE) ("Twin Butte" or the "Company") announces that the Court of Queens Bench of Alberta has granted the application of the Company's syndicate lenders, to appoint FTI Consulting Canada Inc. (the "Receiver") as receiver and manager over the assets, undertakings and property of Twin Butte. The Receiver is charged with managing the day to day affairs of the Company during the period of its appointment and should be contacted with respect [Read more]