CALGARY, AB--(Marketwired - September 19, 2016) - Encana Corporation ("Encana") (TSX: ECA) (NYSE: ECA) announced today the pricing of its public offering ("Offering") of common shares ("Shares") of Encana. Encana agreed to sell 107,000,000 Shares at a public offering price of US$9.35 per Share for gross proceeds to Encana of US$1,000,450,000. In connection with the Offering, Encana has granted the underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan, a 30-day [Read more]
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Lightstream Resources fails to reach deal with creditors, moving to sale
Calgary-based oil and gas producer Lightstream Resources says it is moving to a court-supervised sale after it was unable to reach a settlement agreement with debt holders. The company said Monday it would be seeking to enter protection from creditors under the Companies' Creditors Arrangement Act. Lightstream has been struggling under close to $1.2 billion in debt and was under a Sept. 16 deadline to reach a deal with lenders. With no deal in sight, Lightstream says it [Read more]
Petrocapita Announces Proceeds of $9.787 Million From Debentures
CALGARY, ALBERTA--(Marketwired - Sept. 19, 2016) - Petrocapita Income Trust (CSE:PCE.UN) ("Petrocapita" or the "Trust") announces gross proceeds to date of $4,787,000 from the sale of its 8% secured convertible debentures (the "Convertible Debentures") pursuant to its previously announced private placement offering of these Convertible Debentures. Additionally, Petrocapita announces gross proceeds from the sale of a $5,000,000 secured debenture (the "Debenture") of which $3,000,000, plus or [Read more]
Key dates this autumn for federal climate, energy decision-making
OTTAWA - The fall of 2016 is shaping up as a period of crucial decisions by the federal government on climate policy and energy infrastructure. Here are some key dates: Sept. 22 — The deadline for the federal government to decide whether it will seek leave to appeal to the Supreme Court of Canada on a ruling that impacts the Northern Gateway pipeline proposal and the First Nations consultation. The Federal Court of Appeal overturned the conditional approval of the oil pipeline in June, [Read more]
Toscana Energy Announces Closing of $12.5 Million Asset Disposition and Amended Credit Facilities
CALGARY, Alberta, Sept. 19, 2016 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX:TEI) is pleased to announce that it has closed its previously announced disposition of its non-operated oil and natural gas interests in northwestern Alberta (the "Assets") for total cash consideration of $12.5 million, subject to any industry standard post-closing adjustments. Details of the Asset disposition were outlined in the Corporation’s press release dated August 17, [Read more]
Lightstream Announces Commencement of CCAA Process and Second Forbearance Agreement
CALGARY, ALBERTA--(Marketwired - Sept. 19, 2016) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces that the Company has not been able to reach a satisfactory settlement agreement with respect to the litigation (the "Unsecured Noteholder Litigation") that has been commenced by certain holders of the Company's 8.625% unsecured notes due February 1, 2020 (the "Unsecured Notes"). Under the terms of a restructuring support agreement dated July 12, 2016, as amended and [Read more]
Bellatrix Announces $47 Million Non-Core Asset Sale
CALGARY, Sept. 19, 2016 /PRNewswire/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that it has entered into an agreement with InPlay Oil Corp. ("InPlay") to sell certain non-core Cardium focused assets in the greater Pembina area of Alberta (the "Pembina asset sale") for total consideration of $47 million. Total consideration is comprised of $42 million cash, and 16,666,666 shares of InPlay with a deemed value of $5 million ($0.30 per [Read more]
Painted Pony Announces 180 MMcfe Per Day (30,000 Boe Per Day) Production Milestone
CALGARY, Sept. 19, 2016 /CNW/ - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX: PPY) is pleased to announce 180 MMcfe/d (30,000 boe/d) of production volumes were averaged over the previous five days, based on field estimates. The Corporation's production increase represents both absolute and per share production growth of greater than 80% over second quarter 2016 average daily production volumes of 99.8 MMcfe/d (16,634 boe/d). Painted Pony's production volumes at the [Read more]
Encana Announces Public Offering of Common Shares
CALGARY, AB--(Marketwired - September 19, 2016) - Encana Corporation ("Encana") (TSX: ECA) (NYSE: ECA) announced today that it intends to conduct a public offering ("Offering") of 107,000,000 common shares ("Shares") of Encana. Encana expects to grant the underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan, a 30-day over-allotment option to purchase up to 16,050,000 additional Shares. The price of the Offering is anticipated to be established later today following [Read more]
Alberta First Nation revives pipeline lawsuit involving oilsands pipeline
EDMONTON - An Alberta aboriginal leader says inaction from the provincial government is forcing his First Nation to reactivate a court challenge to an approval for a major oilsands pipeline already under construction. "With the new NDP government coming in, we were hoping they'd come to the table and start working on things that are outstanding," Chief Allan Adam of the Athabasca Chipewyan First Nation said Monday. "But when they came to the table, nothing came about. Nothing [Read more]