CALGARY - Encana Corp. had a US$601 million loss in the second quarter but says the latter part of 2016 is shaping up better than expected. The Calgary-based oil and gas company (TSX:ECA) says that some of its key expenses will be US$100 million less than the previous estimate and savings will be continued into 2017. It's also reinvesting savings and funds from the sales of key assets to increase its 2016 capital program by US$200 million. Encana expects to get US$1.1 [Read more]
Headlines
Conference Board of Canada downgrades Canada’s economic growth forecast
OTTAWA, July 21, 2016 /CNW/ - The wildfires that damaged much of Fort McMurray and the surrounding areas, a weakening global economy, and the ongoing and significant deterioration in business investment have dimmed the growth outlook for Canada. The Conference Board of Canada expects the Canadian economy to grow by just 1.4 per cent in 2016, a downgrade from the 1.6 per cent forecast in the previous edition of the Canadian Outlook. "The economy got off to a good start at the beginning of the [Read more]
Perisson Petroleum to List on the TSX Venture Exchange
CALGARY, ALBERTA--(Marketwired - July 21, 2016) - Perisson Petroleum Corporation ("Perisson" or the "Company") (CSE:POG) is pleased to announce that the TSX Venture Exchange ("TSX-V") has approved Perisson's application to list its common shares on the TSX-V. Effective Thursday, July 21, 2016, the Company's shares will commence trading on the TSX-V under the symbol "POG". Perisson will be classified as a Tier 1 Oil and Gas Issuer. Perisson will concurrently apply to delist its common shares [Read more]
AltaGas Ltd. Reports Strong Second Quarter Results and Increases Dividend 6.1 Percent
CALGARY, ALBERTA--(Marketwired - July 21, 2016) - (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Highlights Record second quarter normalized EBITDA of $153 million, a 43 percent increase over the second quarter of 2015; 68 percent increase in normalized funds from operations to $114 million; Increased common share dividend by $0.01 per share per month to $2.10 per share annualized beginning with the September 15, 2015 payment, a 6.1 percent [Read more]
Encana Delivers Significant Efficiency Improvements With Strong Second Quarter Results
CALGARY, AB--(Marketwired - July 21, 2016) - (TSX: ECA) (NYSE: ECA) Encana's relentless focus on execution excellence during the second quarter has driven another step change in efficiency improvements and returns. As a result, the company has lowered cash costs, such as transportation, processing and operating expenses, and improved capital efficiency in its updated 2016 guidance. Driven by efficiency improvements, Encana is also raising its 2016 production guidance. The company expects to use [Read more]
Sunshine Oilsands Ltd.: Announcement of Partial Closing of Private Placement of 96,400,000 Common Shares Under Specific Mandate
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - July 20, 2016) - SUNSHINE OILSANDS LTD. (a corporation incorporated under the Business Corporations Act of the Province of Alberta, Canada with limited liability) (HKSE:2012) The Board of Directors of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) wishes to announce the following: Partial Closing of Private Placement under Specific MandateThe Board of Directors of Sunshine Oilsands Ltd. (the "Corporation" or [Read more]
Raging River Exploration Inc. Announces Receipt of Court and Shareholder Approval for Corporate Acquisition of Rock Energy Inc., Forgan Land Consolidation and Increased 2016 Guidance
CALGARY, ALBERTA--(Marketwired - July 20, 2016) - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to announce that the shareholders of Rock Energy Inc. ("Rock") have voted to approve the acquisition of Rock by Raging River pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Acquisition" or the "Arrangement"), with shareholders of Rock holding in excess of 97% of the common shares of Rock (the "Rock Shares") represented in [Read more]
Rock Energy Inc. Announces Shareholder and Court Approval of Plan of Arrangement
CALGARY, ALBERTA--(Marketwired - July 20, 2016) - Rock Energy Inc. ("Rock") (TSX:RE) is pleased to announce that at its annual and special meeting of shareholders (the "Meeting") held earlier today, holders ("Rock Shareholders") of common shares of Rock ("Rock Shares") approved the previously announced plan of arrangement (the "Arrangement") involving Raging River Exploration Inc. ("Raging River"), Rock and the Rock Shareholders. A total of 19,524,905 Rock Shares (approximately 41% of the [Read more]
Baytex Enhances Gas Conservation Strategy and Enters Into Multi-Year Gas Supply Agreement With Kineticor
CALGARY, ALBERTA--(Marketwired - July 20, 2016) - Baytex Energy Corp. ("Baytex") (TSX:BTE)(NYSE:BTE) is pleased to announce a multi-year natural gas supply agreement with a subsidiary of Kineticor Resources Corp. ("KRC") to support KRC's proposed 100MW power project in Peace River, Alberta (the "Project"). This is the largest of two gas-to-power initiatives we have concluded to support our gas conservation strategy in Peace River. James Bowzer, Chief Executive Officer, said "Baytex's gas [Read more]
Gibsons to Explore a Potential Sale of Its Industrial Propane Business
CALGARY, ALBERTA--(Marketwired - July 20, 2016) - Gibson Energy Inc. ("Gibsons" or the "Company") (TSX:GEI) announced today that it has engaged RBC Capital Markets as a financial advisor to assist the Company with a potential sale of its Industrial Propane business. "The initiation of a process to divest our Industrial Propane business is consistent with the Company's efforts to increasingly focus both investment capital and management attention on attractive growth opportunities within our [Read more]