CALGARY, ALBERTA--(Marketwired - Aug. 9, 2016) - Suncor Energy UK Limited ("Suncor") today announced it will acquire a 30 per cent participating interest in the U.K. North Sea Rosebank project from OMV (U.K.) Limited. Under the terms of the agreement, Suncor will make an initial payment of US$50 million on closing. The transaction is subject to conditions, including regulatory approval, and is anticipated to close in the fourth quarter of 2016. In the event the co-venturers approve the [Read more]
Headlines
Nsolv’s Clean Extraction Technology Produces 100,000th Barrel
Calgary, August 3, 2016 – Nsolv Corporation (Nsolv) is pleased to announce that its clean technology pilot project in Fort McKay, Alberta has now produced over 100,000 barrels of partially upgraded, transportable heavy oil. The pilot project launched in 2014 in order to demonstrate the company’s solvent-based heavy oil extraction technology at field-scale. “This is a major milestone for Nsolv,” said Joe Kuhach, CEO of Nsolv. “We have successfully demonstrated our technology and met all key [Read more]
Keyera Announces Closing of Additional Ownership Interest Acquisition in Alder Flats Gas Plant
CALGARY, Aug. 9, 2016 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced acquisition of an additional 35% ownership interest from Bellatrix Exploration Ltd. ("Bellatrix") in the O'Chiese Nees-Ohpawganu'ck gas plant ("Alder Flats") and the associated gathering pipelines (collectively the "Facilities"). Total consideration for the acquisition was $112.5 million, which included the additional working interest in the Facilities, a 10-year [Read more]
Bellatrix announces closing of the sale of a 35% interest in the Bellatrix Alder Flats Plant
TSX, NYSE: BXE - CALGARY, Aug. 9, 2016 /PRNewswire/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that it has today closed the previously announced sale of a 35% interest in the Bellatrix O'Chiese Nees-Ohpawganu'ck deep-cut gas plant at Alder Flats (the "Alder Flats Plant") to Keyera Partnership ("Keyera"), for total cash consideration of $112.5 million (the "Alder Flats Plant Sale"). As announced earlier today, Bellatrix, through a [Read more]
Surprise Natural Gas Drawdown Signals Higher Prices Ahead
The U.S. electric power sector burned through a record amount of natural gas in recent weeks, a sign of the shifting power generation mix and also a signal that natural gas supplies could get tighter than many analysts had previously expected. The EIA reported a surprise drawdown in natural gas inventories for the week ending on August 3. The reduction of 6 billion cubic feet (Bcf) was the first summertime drawdown since 2006. Natural gas spot prices shot up following the data release on [Read more]
Bellatrix Announces Closing of $80 Million Bought Deal Financing
TSX, NYSE: BXE - CALGARY, Aug. 9, 2016 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce that it has closed its previously announced bought deal financing (the "Offering") through a syndicate of underwriters (the "Underwriters") led by National Bank Financial Inc., pursuant to which the Company has issued and sold $50 million aggregate principal amount of 6.75% extendible unsecured subordinated convertible debentures (the "Debentures") at a [Read more]
TORC Oil & Gas Ltd. Announces Second Quarter 2016 Financial & Operational Results
CALGARY, Aug. 9, 2016 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce its financial and operating results for the three and six months ended June 30, 2016. The associated management's discussion and analysis ("MD&A") and unaudited interim financial statements as at and for the three and six months ended June 30, 2016 can be found at www.sedar.com and www.torcoil.com. Highlights Three months ended Six months ended [Read more]
Sproule Academy Continuing Education – Counterparty Risk Assessment
Counterparty Risk Assessment has always been an important tool but became even more important with the 2008 Financial Crisis, as well as in today’s challenged economic environment where numerous counterparties are defaulting. Establishing a routine methodology to conduct Counterparty Risk Assessment is essential for companies to mitigate financial and performance default risk and risk of key suppliers or even entities such as Engineering Procurement Construction Management (EPCM) entities, who [Read more]
Journey reports a series of transactions to transition the company to a lower operating cost growth business; Reports second quarter 2016 financial results and an upward revision to first quarter reported financial results
CALGARY, Aug. 8, 2016 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce significant progress in its efforts to transform our asset base into a more focused lower operating cost core in order to position the company for rapid growth beginning in 2017. Over the last two months Journey has closed (or is in the process of closing) six transactions, and expects to close an additional two transactions by mid-September. Journey also announces its financial [Read more]
Pembina Pipeline Corporation Announces $500 Million Public Note Offering
CALGARY, Aug. 8, 2016 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA) announced today that it has agreed to issue $500 million of senior unsecured medium-term notes (the "Offering"). The notes carry a fixed coupon of 3.71 percent per annum, paid semi-annually, and mature on August 11, 2026 (the "Series 7 Notes"). Closing of the Offering is expected to occur on August 11, 2016 and the net proceeds will be used to repay short-term indebtedness of the [Read more]