CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Artisan Energy Corporation ("Artisan" or the "Corporation") (TSX VENTURE:AEC), announces that the Corporation's principal secured lender has demanded repayment of all indebtedness owed. Artisan is not in a financial positon to make any repayment at this time. The directors of the Corporation have determined that Artisan's business is no longer a viable going concern, as its current market asset value is less than its current debt. Given the [Read more]
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Cequence Energy Announces First Quarter Financial and Operating Results
CALGARY, May 10, 2016 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its operating and financial results for the three month period ended March 31, 2016. The Company's Consolidated Financial Statements and Management's Discussion and Analysis are available at cequence-energy.com and on SEDAR at www.sedar.com. First Quarter 2016 Highlights First quarter Company highlights include: Achieved average quarterly production of 10,223 boe/d, an [Read more]
Connacher Announces Q1 2016 Results
CALGARY, May 10, 2016 /CNW/ - Connacher Oil and Gas Limited (CLC - TSX; "Connacher" or the "Company") announces its financial and operating results for the quarter-ended March 31, 2016 ("Q1 2016") (all amounts are in Canadian dollars unless otherwise noted). Q1 2016 Highlights Financial Q1 2016 revenue, net of royalties, decreased 78% to $11.8 million (Q1 2015 - $53.8 million) due to the decline in crude oil prices and lower sales volumes associated with the curtailment of [Read more]
Chinook Energy Inc. Announces First Quarter 2016 Results
CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Chinook Energy Inc. ("our", "we", "us" or "Chinook") (TSX:CKE) is pleased to announce its first quarter financial and operating results. Our operational and financial highlights for the three months ended March 31, 2016 are noted below and should be read in conjunction with our condensed consolidated financial statements for the three months ended March 31, 2016 and 2015 and related management's discussion and analysis which have been posted on [Read more]
Anderson Energy Announces Closing of Exchange Transaction Related to Series B Debentures
CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Anderson Energy Inc. ("Anderson" or the "Company") (TSX:AXL) announces that pursuant to an extraordinary resolution voted on and passed by the holders of the Company's 7.25% Series B convertible unsecured subordinated debentures due June 30, 2017 (the "Series B Debentures"), the Company has now met the closing conditions and, effective May 10, 2016, has exchanged both the entire principal amount ($46.0 million) and the interest that would [Read more]
Zargon Oil & Gas Ltd. Provides 2016 First Quarter Results
CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Zargon Oil & Gas Ltd. ("Zargon" or the "Company") (TSX:ZAR) (TSX:ZAR.DB). FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED MARCH 31, 2016) Funds flow from operating activities of a negative $0.3 million compare to the positive $3.6 million recorded in the prior quarter, and the positive $7.2 million reported in first quarter of 2015. The reduction in funds flow is primarily due to Zargon's sharply lower first quarter 2016 field [Read more]
Peyto Exploration & Development Corp. Earns $42 Million in Q1 2016
CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX:PEY) is pleased to present its operating and financial results for the first quarter of the 2016 fiscal year. Continued cost reductions and record production combined for a 78% operating margin(1) and a 23% profit margin(2). Additional highlights included: Production per share up 20%. First quarter 2016 production increased 24%, 20% per share, from 490 MMcfe/d (81,588 [Read more]
AltaGas partner Idemitsu shelves work on Triton liquefied natural gas project
CALGARY - AltaGas Ltd's joint venture partner, Idemitsu Kosan Co., says it has stopped work on the Triton liquefied natural gas project in northern British Columbia.The Japanese conglomerate says in its annual results issued Tuesday that it had suspended all efforts to export LNG from North America.AltaGas's director of finance and communications says that the news doesn't change anything for the company since AltaGas had put Triton on the back burner more than a year ago.Jess Nieukerk says [Read more]
Enerplus Announces C$200 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Enerplus Corporation ("Enerplus" or the "Company") (TSX:ERF)(NYSE:ERF) has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and TD Securities Inc., under which the underwriters have agreed to buy on a bought deal basis 29,000,000 common shares of the Company (the "Common Shares") at a price of C$6.90 per Common Share for gross proceeds of C$200,100,000 (the "Offering"). The Company has [Read more]
Husky Energy Sells Southwest Saskatchewan Assets for $595 Million
CALGARY, AB--(Marketwired - May 10, 2016) - Husky Energy (TSX: HSE) has reached an agreement for the sale of select assets in southwest Saskatchewan for $595 million to Whitecap Resources. "Today's announcement is another step in the transition of our Western Canada portfolio into a more focused and efficient business," said CEO Asim Ghosh. "Over the past two months we have made significant progress on three major divestiture initiatives that will materially strengthen our balance sheet and [Read more]