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]
Headlines
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]
Toro Oil & Gas Ltd Announces First Quarter 2016 Financial and Operating Results
CALGARY, May 25, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") announces its financial and operating results for the three month period ended March 31, 2016. Selected financial and operational information is set out below and should be read in conjunction with Toro's March 31, 2016 interim financial statements and the related management's discussion and analysis, which are available for review at www.sedar.com or the Company's website at www.torooil.com. First [Read more]
Alberta brings in carbon levy legislation, estimates higher cost to families
EDMONTON - Alberta has put forward legislation to implement its multibillion-dollar carbon levy, with new estimates hiking the cost to families to as much as $443 next year.Opponents, however, estimate it will be about double that.Environment Minister Shannon Phillips introduced Bill 20 for first reading in the legislature Tuesday.She said the levy will provide an incentive to go green and will be reduced as Alberta becomes more environmentally friendly.Notley also noted with lower and [Read more]
National Energy Board issues Board Order to TransCanada Keystone Pipeline GP Ltd.
CALGARY, May 24, 2016 /CNW/ - The National Energy Board (NEB) has issued a Board Order to TransCanada Keystone Pipeline GP Ltd. (Keystone) to ensure that environmental protection and mitigation measures continue on the Keystone XL project (Project) despite the US Department of State's decision of November 3, 2015 to not issue a Presidential Permit to construct and operate the US section of the Keystone XL Pipeline. During NEB inspections on the Keystone XL Pipeline Project in Alberta, the NEB [Read more]
Frontier Oil Sands Mine Project – Establishment of Joint Review Panel
OTTAWA, May 24, 2016 /CNW/ - The Honourable Catherine McKenna, Minister of Environment and Climate Change and Jim Ellis, President and Chief Executive Officer of the Alberta Energy Regulator, announced today the establishment of a three-member joint panel to review Teck Resources Limited's proposed Frontier Oil Sands Mine project in northern Alberta. Mr. Alex Bolton has been appointed as the Chair of the Joint Review Panel. Mr. Robert McManus and Mr. William (Bill) Klassen have been appointed [Read more]
Gibsons Announces $200 Million Bought Deal Equity Financing and $100 Million Bought Deal Offering of Unsecured Subordinated Convertible Debentures
CALGARY, ALBERTA--(Marketwired - May 24, 2016) - Gibson Energy Inc. ("Gibsons" or the "Company") (TSX:GEI) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 12,950,000 common shares ("Common Shares") at a price of $15.45 per Common Share, for gross proceeds of approximately $200 million and $100 million aggregate [Read more]
Quattro Exploration and Production Ltd. Provides Update RE Annual Financial Statement Filings
CALGARY, Alberta, May 24, 2016 (GLOBE NEWSWIRE) -- Quattro Exploration and Production Ltd. (the "Corporation") (TSXV:QXP) provides an update regarding the filing of its financial statements and corresponding management discussion and analysis for the year ended December 31, 2015 (the "Financial Statements"). As noted in the Company's press release dated May 4, 2016, the Company was unable to file the Financial Statements prior to the filing deadline of April 29, 2016 and at the request of the [Read more]
Athabasca Oil Corporation Resumes Operations at Hangingstone
CALGARY, ALBERTA--(Marketwired - May 24, 2016) - Athabasca Oil Corporation (TSX:ATH) ("Athabasca" or the "Company") has resumed operations at Hangingstone following a shutdown on May 5th due to the wildfires in the Fort McMurray region. There has been no damage to Athabasca's assets. Prior to the shutdown, production volumes reached in excess of 9,000 bbl/d. The Company expects the reservoir to re-pressurize to normal operating levels over the next several weeks with no anticipated long-term [Read more]