CALGARY, ALBERTA--(Marketwired - May 30, 2016) - Harvest Operations Corp. ("Harvest") today announced an amendment to its previously announced offer to exchange (the "Exchange Offer") any and all of its outstanding 67/8% Senior Notes due 2017 (the "Old Notes") for new 2.33% Guaranteed Notes due 2021 (the "New Notes") issued by Harvest and unconditionally and irrevocably guaranteed (such guarantee, the "Guarantee") by Korea National Oil Corporation ("KNOC") and related consent solicitation (the [Read more]
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Saskatchewan facing $1B resource revenue shortfall, says Premier Wall
REGINA - Saskatchewan Premier Brad Wall says the province is facing a $1 billion shortfall in resource revenue.Wall made the comment in the legislature Monday while defending cuts to heritage language schools as part of a review of all spending.The premier says the government has to focus on core services.Finance Minister Kevin Doherty says that billion-dollar shortfall in resource revenue is a big hole to fill.Doherty says everything is on the table and the government has had to make some tough [Read more]
Canadian Spirit Resources Inc. Announces First Quarter 2016 Financial Results
CALGARY, ALBERTA--(Marketwired - May 30, 2016) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)(OTCBB:CSPUF) announces the release of its interim financial results and Management Discussion and Analysis ("MD&A") for the three month period ended March 31, 2016. This news release summarizes information contained in the unaudited interim condensed financials statements and MD&A for the three month period ended March 31, 2016 and should not be considered a [Read more]
Yoho Resources Inc. Announces Fiscal Q2 2016 Financial Results
CALGARY, ALBERTA--(Marketwired - May 30, 2016) - Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) has filed today on SEDAR the financial statements for the six months ended March 31, 2016 and the related managements' discussion and analysis ("MD&A"). Copies of these documents may be found on www.sedar.com. Highlights Yoho's production during fiscal Q2 2016 averaged 621 boe per day (23% oil and natural gas liquids ("NGL")), compared to fiscal Q2 2015 production of 1,731 [Read more]
Whitecap Resources Inc. Closes $470 Million Bought Deal Financing
CALGARY, May 30, 2016 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has completed its previously announced bought deal financing (the "Offering"). Pursuant to the offering, Whitecap issued a total of 51,087,000 subscription receipts of Whitecap ("Subscription Receipts") at a price of $9.20 per Subscription Receipt for gross proceeds of approximately $470 million. The syndicate of underwriters is led by National Bank Financial Inc. and TD [Read more]
Energy education is sorely needed: A primer in weighing the alternatives
The energy business presents a challenge for the media to cover. Energy is wildly complex while the energy reporting business tends to have attention deficit disorder, or worse. Of course some other businesses are complex as well, but few have so many technical, economic and political aspects that are so globally intertwined. Specific aspects are also completely different. Natural gas is far different than oil, downstream businesses have more to do with chemical processing and marketing [Read more]
University of Tulsa’s Master of Energy Business offers students chance to advance energy industry careers
The oil and gas industry experienced a sharp decline in activity as a result of low commodity prices. Many people employed in the industry are worried about keeping their jobs or, if they have already been let go, what to do next. From land mangers to engineers, to rig hands to project managers; everyone continues to hope for a turnaround. There are ways however, people can be proactive and set themselves apart to have a better understanding of the entire energy industry and thus increase their [Read more]
Hemisphere Energy announces Q1 2016 financial and operating results
TSX-V: HME VANCOUVER, May 30, 2016 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three months ended March 31, 2016. Q1 2016 Highlights Achieved quarterly production averaging 508 boe/d (81% oil). Realized a $2.73/boe operating netback with a challenging commodity price environment and an average WTI price of $33.45 ($US/bbl). Reduced operating costs to $11.45/boe, a 15% decrease from the [Read more]
Suncor Energy announces restart of RMWB operations
CALGARY, ALBERTA--(Marketwired - May 29, 2016) - Suncor today announced it has begun the safe and staged restart of its operations in the Regional Municipality of Wood Buffalo (RMWB) with initial production from its Firebag in situ facility early last week. Start-up activities are well underway at Base Plant and the MacKay River in situ facility and, subject to conditions in the region, Suncor expects initial production by the end of this week. Suncor has moved over 4,000 employees and [Read more]
Delphi Energy Announces Banking Update
CALGARY, ALBERTA--(Marketwired - May 27, 2016) - Delphi Energy Corp. (TSX:DEE) ("Delphi" or the "Company") reports an extension to its annual borrowing base review with its senior lenders. Delphi and the lenders under its senior credit facility entered into an amending agreement dated May 27, 2016, which, among other things, reduced the aggregate availability of such facility from $132.5 million to $115 million, consisting of a $105 million extendable revolving term credit facility and a $10 [Read more]