In Premier Christy Clark's vision of British Columbia's economic future, natural gas is the headliner as the province gears up to export billions of tonnes of liquefied natural gas from proposed West Coast projects.But the premier may have to make room on the bill for another fossil fuel — thanks mainly to a Calgary-based company drilling in the northeastern part of the province, B.C.'s daily crude oil production is at a nine-year high and expected to steadily increase.Oil analysts at Raymond [Read more]
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Perpetual Energy Inc. Announces Closing of Warwick Gas Storage Disposition and Successful Swap of an Additional $62.5 Million of 8.75% Senior Notes for Tourmaline Oil Corp. Shares
CALGARY, May 25, 2016 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce the closing of the disposition of its 30 percent partnership interest in Warwick Gas Storage LP ("WGS LP") for $20 million. The transaction included the disposition of Perpetual's share of WGS LP's $8.3 million of debt net of working capital held by the partnership. In addition, Perpetual received a net dividend of $0.5 million at closing, for effective total [Read more]
Relentless Announces Financial and Operating Results for the Three Months Ended March 31, 2016
CALGARY, ALBERTA--(Marketwired - May 25, 2016) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) announces that it has issued its March 31, 2016 unaudited condensed interim financial statements and related MD&A. Additional information about Relentless is available on SEDAR at www.sedar.com or on the Company`s website at www.relentless-resources.com. Corporate Update Relentless averaged 232 boed (52% oil and liquids) in Q1 2016, down 1% from the same period [Read more]
Chinook Energy Announces Asset Disposition Agreement
CALGARY, ALBERTA--(Marketwired - May 25, 2016) - Chinook Energy Inc. (TSX:CKE) ("Chinook" or the "Company") is pleased to announce that it has entered into an agreement to sell, effective May 1, 2016, certain of its assets located in the Gold Creek area of Alberta (the "Divested Assets") for aggregate consideration of approximately $7.5 million, subject to customary closing adjustments. The disposition is anticipated to close on or before June 30, 2016. The Divested Assets include a 75% working [Read more]
Cardinal Energy Ltd. Announces $50 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - May 25, 2016) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce that it has entered into a bought deal financing agreement with a syndicate of underwriters led by CIBC Capital Markets (collectively, the "Underwriters"), pursuant to which they have agreed to purchase for resale to the public, on a bought deal basis, 5,350,000 common shares of the Company ("Common Shares") at a price of $9.35 per Common Share for gross proceeds of [Read more]
National Energy Board seeks public input on extension to Enbridge Northern Gateway sunset clauses
Company wants more time to begin building pipeline project CALGARY, May 25, 2016 /CNW Telbec/ - The National Energy Board (NEB, the Board) is looking for input from the public before deciding whether to extend the sunset clauses for the Enbridge Northern Gateway Pipeline Project (Northern Gateway Project). The sunset clauses say that construction must begin before December 31, 2016 or approval for the project will expire. Enbridge Northern Gateway and the Aboriginal Equity Partners wrote [Read more]
Notley Approval Rating Sinks, Wall Stays Strong in Latest Poll
The latest Angus Reid Institute (ARI) analysis has shown the mantle of most-popular premier remains – as it has for years – with Saskatchewan’s Brad Wall. Just over a month after his Saskatchewan Party won its third-straight majority mandate in convincing fashion, Wall has the approval of 66 per cent of provincial residents, up four points compared to last quarter. In Alberta, Notley seems to have stabilized since coming down from a post-election honeymoon period. The nation’s only [Read more]
Venezuela vs. forest fires: mesmerized by minor market wiggles while global oil production threatens to implode
The consensus chatter on big media energy news sites is that the current oil price rally is for real, driven by production shortfalls in Canada (forest fires) and Nigeria (general mayhem). A few of the more exotic analyses get into storage statistics at Cushing, Oklahoma or Saudi Arabia’s latest attempt to jerk markets around to suit their mood. It’s all very interesting and great gossip material, but the proverbial piano is over our heads and we really should pay attention. Global crude [Read more]
Yangarra Announces Closing of Bought Deal Financing
CALGARY, May 25, 2016 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Corporation") (TSX:YGR) announces the closing of its recently announced "bought deal" financing, completed by way of a short form prospectus, for the sale of 10,000,000 Common Shares of the Corporation (the "Common Shares") at a price of $1.00 per Common Share, together with an additional 1,500,000 Common Shares at a price of $1.00 per Common Share issued pursuant to the full exercise of the over-allotment option granted [Read more]
Freehold Royalties Ltd. Announces Closing of Acquisition and Public Offering
CALGARY, ALBERTA--(Marketwired - May 25, 2016) - Freehold Royalties Ltd. ("Freehold") (TSX:FRU) announces that it has closed its previously announced $165 million acquisition of royalty production and mineral title lands from Husky Energy Inc. and certain of its affiliates (the "Husky Transaction"). In conjunction with the closing of the Husky Transaction, Freehold also completed its previously announced bought deal financing, issuing 16,428,900 common shares at a price of $11.55 per share [Read more]