Sayer Energy Advisors has been engaged to assist Grant Thornton Limited (“Grant Thornton”), in its capacity as trustee in the bankruptcy of Shoreline Energy Corp. (“Shoreline” or the “Company”) with the sale of the non-operated oil and natural gas properties held by Shoreline (the “Properties”). The Properties are located in the Bonanza and Worsley areas of Alberta as well as in various other areas of Alberta, Saskatchewan and British Columbia. Current estimated production net to the Company [Read more]
Headlines
Perpetual Successfully Swaps $150 Million of 8.75% Senior Notes for Tourmaline Oil Corp. Shares, Proposes A New Minimum Swap Amount of $175 Million and Maximum Swap Amount of Up to $235 Million
CALGARY, ALBERTA--(Marketwired - April 28, 2016) - Perpetual Energy Inc. ("Perpetual" or the "Corporation") (TSX:PMT) is pleased to announce that it has swapped $150 million aggregate principal amount of senior notes pursuant to the previously announced securities swap proposal whereby Perpetual offered to swap a portion of the Tourmaline Oil Corp. shares (the "Tourmaline Shares") owned by Perpetual (the "Securities Swap Proposal") on the basis of 21 Tourmaline Shares for each $1,000 principal [Read more]
Canada’s oil industry to endure losses for second consecutive year in 2016
Natural gas industry also expected to lose money in 2016 OTTAWA, April 28, 2016 /CNW/ - Canada's oil and natural gas extraction industries are expected to be in the red again this year, according to The Conference Board of Canada's latest outlooks for the industries. Following a record pre-tax loss of more than $7 billion last year, Canada's oil extraction industry is expected to post losses of over $3 billion in 2016. Meanwhile, Canadian natural gas producers losses are expected to total $1 [Read more]
ConocoPhillips Reports First-Quarter 2016 Results; Announces Revised 2016 Capital Expenditures Guidance
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE:COP) today reported a first-quarter 2016 net loss of $1.5 billion, or ($1.18) per share, compared with first-quarter 2015 earnings of $272 million, or $0.22 per share. Excluding special items, first-quarter 2016 adjusted earnings were a net loss of $1.2 billion, or ($0.95) per share, compared with a first-quarter 2015 adjusted net loss of $222 million, or ($0.18) per share. Special items for the current quarter were related to non-cash impairments [Read more]
Granite Oil Corp. Provides Operational Update
CALGARY, ALBERTA--(Marketwired - April 28, 2016) - GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO)(OTCQX:GXOCF) is pleased to provide an operational update including advancement of its Gas Injection Enhanced Oil Recovery (EOR) Scheme and improving capital efficiencies. Granite has achieved a 100% voidage replacement ratio (VRR) in the core of its 100%-owned Alberta Bakken oil pool ahead of schedule, reaching a significant milestone in the long-term development of the Company's gas [Read more]
MEG Energy reports strong production and low costs, providing a solid foundation during the current low price environment
CALGARY, AB --(Marketwired - April 28, 2016) - MEG Energy Corp. today reported first quarter 2016 operating and financial results. Highlights include: Quarterly production of 76,640 barrels per day (bpd), which includes the impact of planned turnaround work; Net operating costs of $8.53 per barrel, a decrease of 19% from the first quarter of 2015 and in line with record-low costs of $8.52 per barrel in the fourth quarter of 2015; Cash flow used in operations of $0.58 per share, [Read more]
Suncor Energy reports first quarter 2016 results
CALGARY, ALBERTA--(Marketwired - April 27, 2016) - "Suncor's ability to generate cash flow from operations, combined with the strength of our balance sheet, allowed us to maintain our dividend and continue investing in long-term profitable growth projects, even in the poor price environment we saw in the first quarter," said Steve Williams, president and chief executive officer. "We continue to capitalize on opportunities, such as increasing our investment in the Syncrude asset, to generate [Read more]
Suncor Energy to acquire additional interest in Syncrude
CALGARY, ALBERTA--(Marketwired - April 27, 2016) - Suncor today announced that it has agreed to acquire a further position in Syncrude, purchasing the five per cent interest from Murphy Oil Corporation's Canadian subsidiary at a purchase price of approximately $937 million, subject to closing adjustments. The transaction will be effective as of April 1, 2016. "We're pleased to acquire this additional interest in the Syncrude joint venture," said Steve Williams, president and chief [Read more]
Sunshine Oilsands Announcement of Partial Closing of Private Placement of 88,234,000 Common Shares Under General Mandate
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - April 27, 2016) - The Board of Directors of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) wishes to announce the following: Partial Closing of Private Placement under General Mandate Reference is made to the announcement of the Corporation dated March 16, 2016 (Hong Kong Time) / March 15, 2016 (Calgary Time) (the "Announcement") in relation to the proposed issue of a total of 558,823,500 new Class "A" Common [Read more]
PrairieSky Receives TSX Approval for Normal Course Issuer Bid
CALGARY, ALBERTA--(Marketwired - April 27, 2016) - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX:PSK) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the notice of PrairieSky's intention to commence a normal course issuer bid (the "NCIB"). On April 26, 2016, PrairieSky announced its intention to seek TSX approval for a NCIB. The NCIB allows the Company to purchase up to 1,600,000 common shares (representing approximately 1% of the public float of [Read more]