TORONTO, ONTARIO--(Marketwired - April 28, 2016) - Dundee Energy Limited ("Dundee Energy" or the "Corporation") (TSX:DEN) today announced its financial results for the three months ended March 31, 2016. The Corporation's unaudited condensed interim consolidated financial statements, along with management's discussion and analysis have been filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") and may be viewed under the Corporation's profile at www.sedar.com or the [Read more]
Headlines
Peyto Exploration & Development Corp. Announces $150 Million Equity Offering
CALGARY, ALBERTA--(Marketwired - April 28, 2016) - Peyto Exploration & Development Corp. ("Peyto" or the "Company") (TSX:PEY) has today entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and First Energy Capital Corp., under which the underwriters have agreed to buy 4,687,500 common shares of the Company ("Common Shares") and sell to the public at a price of $32.00 per Common Share, representing an aggregate amount of $150,000,000. The Company has [Read more]
April 27 Alberta Land Sale Generates $4.89 Million
The latest Alberta Crown Mineral Rights Sale was completed yesterday and the total amount earned was $4,885,169.42 for 45 parcels. The proceeds to the province for the 7th sale of 2016 are down 20% from the April 6 Landsale and the total is slightly below the average so far this year of $5.61 million per sale. The chart below illustrates the trend of sale results so far this year. The total area of the 45 parcels was 19.8 thousand hectares. While the proceeds were lower than the [Read more]
PSAC Significantly Lowers Its 2016 Drilling Activity Forecast: No Improvement to Sector Activity or Market Access
Calgary, Alberta – Today the Petroleum Services Association of Canada (PSAC), in its second update to the 2016 Canadian Drilling Activity Forecast, announced it revised the forecasted number of wells drilled (rig releases) across Canada for 2016 to 3,315 wells. This represents a decrease of 1,835 wells and an approximate 36 per cent decline from PSAC’s original 2016 Drilling Activity Forecast released in early November 2015. PSAC based its updated 2016 forecast on average natural gas prices of [Read more]
Suncor Energy CEO says hard to see more major growth projects on the horizon
CALGARY - The head of Suncor Energy is outlining a near-term future without major growth projects as Canada's largest oilsands company focuses on lower costs and reducing its environmental footrprint.CEO Steve Williams told investors at the company's annual general meeting Thursday that Suncor is taking a more disciplined approach to growth, citing the deferral of projects like the MacKay River Expansion, a steam-driven oilsands development in northeastern Alberta, and the White Rose offshore [Read more]
Ikkuma Resources Corp. Announces Increase to Bought Deal Private Placement of Flow-Through Shares from $7.0 Million to $10 Million
CALGARY, ALBERTA--(Marketwired - April 28, 2016) - Ikkuma Resources Corp. ("Ikkuma" or the "Company") (TSX VENTURE:IKM) is pleased to announce that it has increased its previously announced bought deal financing with a syndicate of underwriters led by Desjardins Capital Markets (the "Underwriters"), whereby the Corporation will now issue 14,085,000 flow-through common shares of the Company (the "Flow-Through Shares") for re-sale at a price of $0.71 per Flow-Through Share for gross proceeds of [Read more]
Shoreline Energy’s Non-Operated Property Divestiture
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]
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]