CALGARY, ALBERTA--(Marketwired - June 16, 2016) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) announces that Calgary Sinoenergy Investment Corp. (the "Purchaser") has extended the outside date of the proposed plan of arrangement involving Long Run, the Purchaser and the Long Run securityholders (the "Arrangement") to July 29, 2016. The Purchaser has submitted its final documentation for approval with respect to the regulatory review process under the Investment Canada [Read more]
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Corridor Announces Impact on Reserves Due to the New Brunswick Government’s Decision to Continue Hydraulic Fracturing Moratorium
HALIFAX, NOVA SCOTIA--(Marketwired - June 16, 2016) - Corridor Resources Inc. (TSX:CDH) ("Corridor") announced today an update to the reserves set forth in the "Statement of Reserves Data and Other Oil and Gas Information" in Corridor's Annual Information Form for the year ended December 31, 2015 (the "Statement of Reserves"). The Statement of Reserves summarizes the reserves report of GLJ Petroleum Consultants Ltd. ("GLJ") for Corridor's properties in the McCully Field and the Caledonia Field [Read more]
Trump needs to recognize a ‘better’ deal when he sees one
CALGARY, Alta. / Troy Media/ - From a Canadian perspective, Donald Trump’s recent energy policy speech was both interesting and troubling. On one hand, Trump’s commitment to approve the Keystone XL pipeline – a key piece of continental energy infrastructure that became an unfortunate victim of political posturing – is a plus for Canada, which faces pipeline constraints that cause Canadian oil to sell for lower prices than it would command with greater access to world markets. On the other [Read more]
Husky Energy Begins Steam Operations at Edam West and Provides Thermal Update
CALGARY, AB--(Marketwired - June 16, 2016) - Husky Energy has commenced steam operations at the 4,500 barrels per day (bbls/day) Edam West Thermal in Saskatchewan, its third thermal project to be brought online this year. The 10,000 bbls/day Edam East Thermal Project, which achieved first oil in April, is now producing above its design rate at approximately 11,000 bbls/day. At the 10,000 bbls/day Vawn development, first production has started approximately six weeks after steaming [Read more]
AAPG 2016 Annual Convention and Exhibition Returns to Calgary
Tulsa, OK, USA / June 14, 2016— The American Association of Petroleum Geologists' (AAPG) flagship annual event, held this year in conjunction with the Canadian Society of Petroleum Geologists (CSPG), is returning to Calgary for the first time in 10 years. The AAPG Annual Convention and Exhibition (ACE), which annually attracts thousands of geologists and geoscientists from around the world, will be held 19-22 June at Calgary’s popular Stampede Park. Joining AAPG and CSPG for the meeting [Read more]
Watch: OSY Rentals at GPS 2016
The OSY Rentals team was pleased to be in attendance for this year's Global Petroleum Show. As part of being there, OSY put together the above video to showcase various happenings throughout the three day event. Enjoy! [Read more]
Canadian Natural sets million-barrel target if oil prices rise above US$60
CALGARY - The president of Canadian Natural Resources (TSX:CNQ) says his company will increase production to more than one million barrels of oil equivalent a day in the next three years if oil prices strengthen.Steve Laut said in an interview Thursday that the Calgary-based company would increase annual spending to about $4.5 billion a year from 2017 through 2019 if it sees signs of sustainability in benchmark oil prices above US$60 a barrel and in natural gas prices above US$3 a gigajoule."If [Read more]
Keyera Closes CDN$60 Million Note Issue under Private Shelf Agreement
CALGARY, June 16, 2016 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has concluded its previously announced CDN$60 million issuance of long-term notes pursuant to an uncommitted private shelf agreement with the Prudential Capital Group ("Prudential"). Proceeds from the notes will be used to repay short-term indebtedness under Keyera's credit facilities and for general corporate purposes. [Read more]
Tervita Corporation announces agreement with lenders regarding senior subordinated notes
CALGARY, ALBERTA (June 16, 2016) – Tervita Corporation (“Tervita” or the “Company”) announced it has reached an agreement with noteholders concerning its 11.875% senior subordinated notes due 2018 (the “Senior Subordinated Notes”). On May 16, 2016, the Company announced it would not make the US$18.3 million interest payment (the “May Interest Payments”) in connection with the Senior Subordinated Notes and utilize a 30-day grace period (under its Senior Subordinated Notes) to engage in [Read more]
Longshore Resources Ltd. announces acquisition of producing assets and closing of equity financing by ARC Financial Corp.
CALGARY, ALBERTA (June 16, 2016) Longshore Resources Ltd. (“Longshore” or the “Company”) is pleased to announce the closing of an acquisition of certain producing assets in the Peace River Arch area of Alberta and the closing of a $150 million equity financing by ARC Financial Corp. (“ARC”). Longshore is a private company focused on capturing high quality assets with underexploited oil resource opportunities that can be developed using horizontal drilling and multi-stage fracturing. The [Read more]