TSX, NYSE: BXE - CALGARY, Nov. 7, 2016 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that it has closed the previously announced sale of certain non-core Cardium focused assets in the greater Pembina area of Alberta (the "Pembina asset sale") to InPlay Oil Corp. ("New InPlay"). Pursuant to the Pembina asset sale, the Company received cash consideration of $42 million (before adjustments), and was issued 2,171,667 common shares of New [Read more]
Headlines
InPlay Oil Corp. and Anderson Energy Inc. Announce Closing of Business Combination and Related Transactions
CALGARY, ALBERTA--(Marketwired - Nov. 7, 2016) - InPlay Oil Corp. ("InPlay") and Anderson Energy Inc. ("Anderson") (TSX:AND) are pleased to announce that they have closed the plan of arrangement (the "Arrangement") and related transactions pursuant to which InPlay and Anderson have been combined to create a new and larger light oil focused company under the name InPlay Oil Corp. ("New InPlay"). The completion of the Arrangement and related transactions, including the previously announced [Read more]
Veresen Announces $350 Million Medium Term Note Offering
CALGARY, ALBERTA--(Marketwired - Nov. 7, 2016) - Veresen Inc. ("Veresen") (TSX:VSN) announced today that it has agreed to issue $350 million senior unsecured medium term notes, Series 5 (the "Notes"). The Notes will have a fixed coupon rate of 3.43% per annum, payable semi-annually, and will mature on November 10, 2021. Veresen intends to use the net proceeds from the sale of the Notes to reduce outstanding indebtedness under its revolving credit facility and for general corporate purposes. [Read more]
Baker Hughes Announces October 2016 Rig Counts
HOUSTON--(BUSINESS WIRE)--Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for October 2016 was 920, down 14 from the 934 counted in September 2016, and down 191 from the 1,111 counted in October 2015. The international offshore rig count for October 2016 was 200, down 21 from the 221 counted in September 2016, and down 70 from the 270 counted in October 2015. The average U.S. rig count for October 2016 was 544, up 35 from the 509 counted in September [Read more]
Questerre closes $7.4 million private placement
CALGARY, Nov. 7, 2016 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) is pleased to announce that it has closed its previously reported private placement of 15.2 million Common Shares at NOK 3.00 or $0.49 per Common Share for gross proceeds of NOK 45.6 million or approximately $7.4 million (the "Private Placement"). The Company intends to use the net proceeds to partially fund its capital investment program for 2017, repay indebtedness under its credit [Read more]
B.C. lays out West Coast spill response needs ahead of expected federal plan
VICTORIA - British Columbia's demands for a world-leading marine oil spill response has a long list of requirements, including a coast guard base at Prince Rupert and a multimillion-dollar price tag for the federal government. The B.C. and federal governments have been in talks for months to develop a West Coast spill response system, and Prime Minister Justin Trudeau's Liberal government is expected to announce its plans on Monday. Trudeau is in Vancouver Monday where he has scheduled a [Read more]
Donald Trump might be Canada’s only hope for a pipeline
Like it or not, Donald Trump is likely Canada’s only hope for a desperately needed major pipeline. In the past several years, weak or incompetent leadership has led to zero major pipelines built in Canada. Weak leadership considering no political leader in Canada had the spine to push through projects that were positive for the country. Instead they crumble to the wishes of radical activists because most politicians are uncomfortable offending that fringe group. Incompetency is evident when [Read more]
A few bright prospects for Western Canadian NGL and Petrochemicals
There has been a lot of movement in Western Canada’s natural gas midstream industry despite challenging market conditions, including bearish natural gas prices, continued competition from US shale production, and a lack of global market reach through LNG/LPG export capabilities. Natural gas midstreamers still see long term opportunity in Western Canada, and it is an opportune time to save on skilled labour costs by proceeding with projects in stronger, but still fragile markets for oil. Two [Read more]
OPEC October Output Surged to New Record of 33.54 Mil. Barrels Per Day: S&P Global Platts
LONDON, Nov. 4, 2016 /PRNewswire/ -- Oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose to another record, at 33.54 million barrels per day (b/d) in October, according to survey of OPEC and oil industry officials by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Recoveries in strife-torn Libya and Nigeria significantly boosted the organization's output and more than offset [Read more]
Energy producers get 129 wells approved under new Alberta royalty framework
CALGARY - Alberta Energy says it has already approved applications for 129 new wells under its new royalty regime for oil and gas producers. The NDP government's framework officially kicks in Jan. 1, but it announced in July that companies would be allowed to make early applications under the regime for new wells. Energy Minister Marg McCuaig-Boyd says each new wells supports about 135 direct and indirect jobs and represents about $4.5 million in spending, adding more [Read more]