CALGARY, April 26, 2016 /CNW/ - The National Energy Board (NEB) has released a preliminary timeline for the Energy East hearing process. This timeframe reflects an extended time limit of 21 months for the process, as directed by the Minister of Natural Resources. National Energy Board reviews are typically conducted within a 15-month time limit. The following table outlines the expected steps and timing that the NEB plans on following to consider the amended Energy East project [Read more]
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PrairieSky Announces First Quarter 2016 Results and Initiation of a Normal Course Issuer Bid
CALGARY, ALBERTA--(Marketwired - April 26, 2016) - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX:PSK) is pleased to announce its first quarter operating and financial results for the period ended March 31, 2016 and initiation of a normal course issuer bid. 2016 First Quarter Highlights: Average production of 23,081 BOE per day, 49% liquids Funds from Operations of $41.4 million or $0.18 per share, basic and diluted Revenues of $48.9 million including $43.2 million [Read more]
Stung by low oil prices, Exxon loses ‘AAA’ rating from S&P
NEW YORK - Low oil prices have helped cost Exxon its pristine "AAA" credit rating from Standard & Poor's, a label it held for over six decades.The top "AAA" credit rating from S&P means a company's debt is the safest possible investment. Now only two other U.S. corporations are rated triple-A by S&P: consumer and medical products company Johnson & Johnson and technology company Microsoft Corp.S&P said Tuesday that it lowered Exxon's rating one notch to "AA+" because of slumping oil prices and [Read more]
Forward Curves Are a Poor Predictor of Future Spot Prices
In building a price forecast, any single indicator, including forward curves, is usually a poor predictor of future spot prices. It is important to consider a wide variety of information when building a spot price forecast. In general, all price forecasts are wrong – the goal is to be less wrong more often and have a body of supporting information to justify each forecast. In the oil and gas industry, one of the primary uses of price forecasts is to provide a reasonable basis for the valuation [Read more]
Entero® Mosaic™: First to Release Alberta Modernized Royalty Framework Calculations
Entero delivers Mosaic v2016 with fully-integrated Alberta MRF calculations on April 28th. CALGARY, Alberta, April 26, 2016 – Entero Corporation is pleased to release MOSAIC v2016 on Thursday, April 28th to provide customers the ability to fully evaluate the changes presented in Alberta’s Modernized Royalty Framework (MRF). The regime described in the framework is available at the Alberta Department of Energy (ADOE) website. In addition to over 100 improvements included in the v2016.0 [Read more]
Striker Announces Fourth Quarter and Full Year 2015 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - April 26, 2016) - Striker Exploration Corp. ("Striker" or the "Company") (TSX VENTURE:SKX) is pleased to announce our operating and financial results for the three and twelve month periods ended December 31, 2015. Our full audited Consolidated Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") and Annual Information Form ("AIF") for the year ended December 31, 2015 are available on Striker's website (www.strikerexp.com) [Read more]
Husky Energy Reports First Quarter Results
CALGARY, AB--(Marketwired - April 25, 2016) - Husky Energy (TSX: HSE) made significant progress in delivering against its strategic objectives in the first quarter. "We continue to execute on the key principles we have established, including strengthening the balance sheet and our ongoing transition into a low sustaining capital business," said CEO Asim Ghosh. "The partial sale of the Lloydminster midstream assets will unlock substantial value that will be used to further strengthen the [Read more]
Husky Energy to Sell Partial Interest in Select Midstream Assets for $1.7 Billion
CALGARY, AB--(Marketwired - April 25, 2016) - Husky Energy (TSX: HSE) has reached an agreement under which 65 percent of its ownership interest in select midstream assets in the Lloydminster region of Alberta and Saskatchewan will be sold to Cheung Kong Infrastructure Holdings Limited and Power Assets Holdings Limited (PAH). Husky will receive $1.7 billion of gross cash proceeds, will have a 35 percent interest in the assets and will remain operator. The sale price represents about 13 times [Read more]
Saudi Arabia outlines reform plan for oil-addicted economy
RIYADH, Saudi Arabia - Saudi Arabia unveiled a bold reform plan on Monday aimed at weaning the country off its "addiction" to oil in a bid to prepare the next generation of Saudi leaders for the domestic pressures of youth unemployment and revenues eroded by lower oil prices.The project, which includes plans to float a stake in the world's largest oil company, Aramco, and set up one of the world's biggest government investment funds, is meant to provide a blueprint for sweeping reforms to steer [Read more]
Blackbird Energy Inc. Announces Unit and CDE Flow-Through Common Share Financing for Total Gross Proceeds of $20 Million
CALGARY, ALBERTA--(Marketwired - April 25, 2016) - Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is pleased to announce that it has filed a preliminary short form prospectus (the "Preliminary Prospectus") in connection with a marketed public offering, through a syndicate of agents (the "Agents"), co-led by Dundee Securities Ltd. and Haywood Securities Inc. (the "Co-Lead Agents"), of: (i) 120,000,000 units ("Units") of the Company at a price $0.15 per Unit, for gross [Read more]