CALGARY, ALBERTA--(Marketwired - May 27, 2016) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI)(OTCQX:AEYIF) announces the sale of all its oil and natural gas properties located in the United States for a sales price of US $34 million. Proceeds from the sale have been used to reduce the Company's outstanding bank credit facility. After applying the net proceeds of the sale, Arsenal estimates its current bank debt at approximately $11.7 million. In addition, Arsenal announces that it [Read more]
Headlines
Ban on fracking in New Brunswick will continue indefinitely: minister
FREDERICTON - A moratorium on hydraulic fracturing, imposed by New Brunswick's Liberal government in December 2014, will remain in place indefinitely, the province's energy minister announced Friday."We have been clear we would not allow this activity to go forward unless our five conditions were met," Donald Arseneault said."Creating jobs is our number one priority, but not at any cost. It is clear that our conditions cannot be satisfied in the foreseeable future."The Liberal government's [Read more]
Ikkuma Resources Corp. Announces First Quarter 2016 Financial and Operating Results
CALGARY, May 27, 2016 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the three months ended March 31, 2016. Selected financial and operational information is set out below and should be read in conjunction with Ikkuma's interim condensed financial statements and the related management's discussion and analysis ("MD&A") for the three months ended March 31, 2016. Ikkuma's condensed interim financial [Read more]
Ironhorse Announces Q1 2016 Financial and Operating Results
CALGARY, May 26, 2016 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces its financial and operating results for the three months ended March 31, 2016. Financial and Operation Summary The Company's reported production has decreased 71% to 67 boe/d in the first quarter of 2016 from 231 boe/d produced in the fourth quarter of 2015. The decrease in production is attributed to the Nisku L2L Pool shut in of production on January 19, 2016. As a result, [Read more]
DXI to Expand Woodrush Oil Production
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 26, 2016) - DXI Energy Inc. (NYSE MKT:DXI)(TSX:DXI) ("DXI" or the "Company"), an upstream oil and gas exploration and production company operating in Colorado's Piceance Basin and the Peace River Arch region in British Columbia, today announced its strategic plan to expand production and improve operational efficiencies at its core Woodrush project in NEBC. As previously reported, the Woodrush project currently includes 4 oil wells and 9 natural [Read more]
49 North Resources Inc. Announces Completion of Transaction with Westcore Energy Ltd.
TSX Venture Exchange Symbol FNR SASKATOON, May 26, 2016 /CNW/ - 49 North Resources Inc. ("49 North" or the "Company") (TSXV: FNR) announces the completion of the previously announced transaction with Westcore Energy Ltd. ("Westcore") regarding the sale of a 100% working interest in the oil and gas properties of Allstar Energy Limited ("Allstar"), in addition to the subsequent sale of all associated oil and gas property and equipment of Allstar (the "Transaction"). In satisfaction of the [Read more]
Payload is Seeking Experienced Oil and Gas Professionals to Participate in a Paid Industry Discussion
Payload is currently looking for experienced oil and gas professionals to take part in a 2 hour, informal, discussion about the challenges and trends in the upstream petroleum industry. Get paid to share your opinion and expertise! We’ll discuss key problems, priorities, tools and technology. Selected candidates will join us for lunch and receive a $100 pre-paid Visa card on completion of the study. It takes less than a minute to submit your application! For more information and to [Read more]
AltaGas Ltd. Announces $400 Million Common Share Offering
CALGARY, ALBERTA--(Marketwired - May 26, 2016) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that it has entered into an agreement with a syndicate of underwriters co-led by TD Securities Inc., RBC Capital Markets and BMO Capital Markets to issue 13,350,000 common shares (the "Common Shares"), on a bought deal basis, at an issue price of $30.00 per Common Share (the "Offering Price"), for total gross proceeds of approximately $400 million (the "Offering"). The net proceeds resulting from [Read more]
Bonavista Energy Corporation Announces $100 Million Bought Deal Financing
CALGARY, ALBERTA--(Marketwired - May 26, 2016) - Bonavista Energy Corporation (TSX:BNP) ("Bonavista") announces today that it has entered into an agreement to sell, on a bought deal basis to a syndicate of underwriters, 29,851,000 common shares (the "Common Shares") at $3.35 per Common Share to raise gross proceeds of approximately $100 million (the "Offering"). The syndicate of underwriter (the "Underwriters") will be co-led by CIBC Capital Markets and TD Securities Inc. Bonavista has also [Read more]
Canadian banks set aside more money for bad loans to oilpatch, consumers
TORONTO - Canadian banks are setting aside more money for sour loans as the oil price shock continues to take its toll on borrowers in Western Canada. Royal Bank (TSX:RY) said Thursday it has boosted its provision for credit losses to $460 million, up $178 million from a year ago, while CIBC (TSX:CM) earmarked $324 million for bad loans in the second quarter, an increase of $197 million from a year earlier. Laura Dottori-Attanasio, CIBC's chief risk officer, says the bulk of the increase [Read more]