VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2016) - Range Energy Resources Inc. (the "Company") (CSE:RGO)(FRANKFURT:YGK) is pleased to announce that further to its news release dated April 12, 2016, the Company closed the second and final tranche of the non-brokered Private Placement for a total of 36,820,000 units (the "Units") of the Company at a price of CDN$0.035 per Unit for gross proceeds of approximately CDN$1,288,700. Each Unit consists of one (1) common share and one (1) [Read more]
Headlines
Connacher Oil gets court OK to put oilsands leases, plants up for sale
CALGARY - Connacher Oil and Gas Ltd. and its court-appointed monitor are seeking offers for its oilsands leases and extraction plants.The Calgary-based company says prospective buyers have until June 30 to submit initial non-binding letters of intent.Connacher's assets include two extraction facilities that produced about 14,500 barrels per day in 2015. Currently, their output has been reduced to 8,000 barrels per day due to low commodity prices.The company also has 87,000 net acres (35,200 [Read more]
Despite regulator approval, more hurdles await Trans Mountain pipeline:Observers
CALGARY - Canada's national pipeline regulator has signed off on a proposal to triple the capacity of the Trans Mountain pipeline from Alberta's oilsands to the West Coast but neither opponents or supporters consider its construction a fait accompli.The National Energy Board said Thursday that the controversial $6.8-billion project proposed by Kinder Morgan is in Canada's best interest, provided 157 conditions are met. It forwarded its recommendation to the federal cabinet for a decision [Read more]
Connacher Oil and Gas Limited Announces that its Oil Sands Assets Are for Sale Pursuant to a Sale and Investment Solicitation Process
CALGARY, May 19, 2016 /CNW/ - On May 17, 2016, Connacher Oil and Gas Limited ("Connacher" or the "Corporation") commenced proceedings and obtained court protection under the Companies' Creditors Arrangement Act ("CCAA") pursuant to an initial order granted by the Court of Queen's Bench, in the Province of Alberta (the "Initial Order"). Ernst & Young Inc. has been appointed Monitor (the "Monitor") of the Corporation for the CCAA proceedings. Pursuant to the Initial Order, the Corporation [Read more]
PetroShale Announces Financial and Operating Results for First Quarter 2016
CALGARY, ALBERTA--(Marketwired - May 19, 2016) - PetroShale Inc. ("PetroShale" or the "Company") (TSX VENTURE:PSH)(OTCQX:PSHIF) is pleased to announce its financial and operating results for the three month period ended March 31, 2016. The Company's unaudited consolidated financial statements and corresponding Management's Discussion and Analysis (MD&A) for the three month period ended March 31, 2016, are available on SEDAR at www.sedar.com, on the OTCQX website at www.otcqx.com, and on [Read more]
Imperial provides Kearl operations update
CALGARY, May 19, 2016 /CNW/ - Imperial today confirmed it has restarted limited operations at its Kearl oil sands site. Recognizing the uncertainty of the fire situation in the Regional Municipality of Wood Buffalo, full restoration of operations will depend on a number of factors. Imperial's first priority continues to be the safety of our employees and contractors. Air monitoring is in place and the physical plant is unaffected by the fires. SOURCE Imperial Oil Limited [Read more]
Standard & Poor’s downgrades Alberta’s credit rating, cites weak budget, debt
EDMONTON - Alberta's credit rating has been downgraded again.Standard & Poor's has changed the province's rating from double-A-plus to double-A.The company says the downgrade reflects what it calls "Alberta's very weak budgetary performance and high, increasing debt burden."It also cites uncertainty about the province's willingness to take measures to improve its budget shortfalls within the next two years.Last month, Moody's Investor Service and DBRS both downgraded Alberta's credit rating due [Read more]
Blackbird Energy Inc. Announces Execution of Gas Handling Agreement for the Firm Transportation and Processing of its Condensate-Rich Elmworth Montney Natural Gas
CALGARY, ALBERTA--(Marketwired - May 19, 2016) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that, further to the press release of Blackbird dated April 6, 2016, Blackbird has executed a binding take-or-pay Gas Handling Agreement ("GHA") with a third party for the firm transportation and processing of sour natural gas produced from Blackbird's condensate-rich Elmworth project. The GHA provides firm service transportation to the third party's [Read more]
Government of Canada Receives National Energy Board Report on the Trans Mountain Expansion Project
OTTAWA, May 19, 2016 /CNW/ - Throughout our history, natural resources have made a significant contribution to our nation's prosperity. Canada will continue its work to ensure that our resource sector remains a source of growth, employment, and new opportunities in a world that increasingly values sustainable practices. The Government of Canada today received the National Energy Board's (NEB) recommendation report for the proposed Trans Mountain Pipeline Expansion Project. Following an [Read more]
B.C. minister applauds LNG agreement between Fortis, Hawaiian Electric
VICTORIA - Energy company Fortis Inc. (TSX:FTS) has signed an agreement to provide liquefied natural gas from British Columbia to the Hawaiian Islands. B.C.'s minister of natural gas development Rich Coleman says the agreement between Fortis and Hawaiian Electric Company is one of the first to export LNG from this province. A news release from Fortis says the 20-year agreement is still subject to regulatory approvals in B.C. and Hawaii, but could see 800,000 metric tons of LNG shipped from [Read more]