CALGARY, AB--(Marketwired - June 15, 2016) - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to provide an operations and financial update. EP UPDATE During the third quarter, Tourmaline plans to run five to six rigs in the Alberta Deep Basin, two to three rigs for the Peace River Charlie Lake oil play and one rig in the B.C Montney gas-condensate complex. Third quarter EP activity will focus primarily on drilling the longer lead time multi-well pads with the [Read more]
Headlines
Strategic Oil & Gas Ltd. Announces Second Half 2016 Drilling Program & Capital Spending Budget
CALGARY, ALBERTA--(Marketwired - June 15, 2016) - Strategic Oil & Gas Ltd. ("Strategic", or the "Company") (TSX VENTURE:SOG) announces its second half 2016 drilling program and capital spending budget. This drilling program marks the beginning of pad development activity along the drilling corridor at west Marlowe, following the Company's successful delineation drilling program during first quarter of 2016. BUDGET Strategic's Board of Directors has approved a capital expenditure budget [Read more]
Toro Oil & Gas Ltd. Announces Terms of $11.3 Million Bought Deal Financing
CALGARY, June 15, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") is pleased to announce that, in connection with its previously announced overnight marketed offering, it has now entered into a bought deal financing agreement with a syndicate of underwriters led by AltaCorp Capital Inc., and including GMP Securities L.P., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., FirstEnergy Capital Corp. and PI Financial Corp. (collectively, the [Read more]
Wildfire loss to oilsands at least 30 million barrels worth $1.4 billion
CALGARY - Analysts say lost oilsands production from the Fort McMurray wildfires could top 30 million barrels and cost the industry upwards of $1.4 billion.Some of the largest oilsands producers in the province were forced to shut down or curtail operations last month as 80,000 residents of Fort McMurray evacuated the city to escape the fierce blaze, which has yet to be extinguished.Damage to oilsands projects was minimal but Calgary-based analysts say restarting operations is taking longer than [Read more]
Cardinal Energy Ltd. Announces Closing of Equity Financing and Renewal of Credit Facility
CALGARY, ALBERTA--(Marketwired - June 15, 2016) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce that it has closed its previously announced public offering of 7,150,000 common shares through a syndicate of underwriters led by CIBC Capital Markets, and including FirstEnergy Capital Corp., RBC Capital Markets, National Bank Financial Inc., Scotiabank, GMP Securities L.P., BMO Capital Markets, Macquarie Capital Markets Canada Ltd. and Dundee Securities Ltd. [Read more]
NuVista Energy Ltd. Announces $21.5 Million CDE Flow Through Equity Financing
CALGARY, ALBERTA--(Marketwired - June 15, 2016) - NuVista Energy Ltd. ("NuVista" or the "Company") (TSX:NVA) is pleased to announce the issuance by way of a private placement, of up to 3.16 million common shares on a "flow-through" basis pursuant to the Income Tax Act (Canada) at a price of $6.65 per share for gross proceeds of approximately $21.0 million (the "Offering"). The purchasers shall be entitled to renunciations of Canadian Development Expenses ("CDE"). In addition, certain directors, [Read more]
BOE Report Podcast Episode 6
On this episode, the BOE Report team talks about recent oilpatch acquisition, including the Penn West asset sale to Teine Energy, Terry Etam's latest article on Natural gas production capabilities in North America, and LNG and Canada's west coast--did BC and Canada miss the boat? Get episode on Google Play | iTunes | RSS On the Show Terry Etam James Rose Josh Groberman Tim Dell Topics Penn West asset sale Do we really have 100 years of natural gas? Maybe, if we avoid the [Read more]
Deloitte: Global Upstream Industry Facing $2 Trillion Funding Gap Over 5 Years
HOUSTON, June 15, 2016 /PRNewswire/ -- The embattled crude oil and natural gas industry worldwide has slashed capital spending to a point below the minimum required levels to replace reserves — replacement of proved reserves in the past constituted about 80 percent of the industry's spending; however, the industry has slashed its capital spending by a total of about 50 percent in 2015 and 2016. According to Deloitte's new study, "Short of Capital? Risk of underinvestment in Oil and Gas is [Read more]
Premiers Wall and Gallant discuss proposed Energy East pipeline benefits
SAINT JOHN, N.B. - A day after pitching the Energy East pipeline to an enthusiastic New Brunswick crowd, Saskatchewan Premier Brad Wall faces a more skeptical audience Thursday: Quebec.Wall, continuing a swing through Eastern Canada, told an energy conference in Saint John Wednesday the $15.7 billion project proposed by TransCanada (TSX:TRP) will benefit all of Canada, will be safe, and won't make climate change worse.The project would transport more than a million barrels of western Canadian [Read more]
Delphi Energy Announces Closing of $60 Million Offering
CALGARY, ALBERTA--(Marketwired - June 15, 2016) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") is pleased to report that it has closed its previously announced upsized public offering of 60,000 units, each consisting of $1,000 principal amount 10% Collateralized Exchange Listed Notes™ (the "CEL Notes"™) and 245 common share purchase warrants, for aggregate gross proceeds of $60.0 million (the "Offering"). The Offering was underwritten by Raymond James Ltd. and Peters & Co. [Read more]