OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corporation (NYSE: DVN) ("Devon" or the "Company") announced today that it has priced an upsized public offering of 69,000,000 shares of its common stock at a price to the public of $18.75 per share. Net proceeds from the offering are expected to be used for general corporate purposes, including bolstering the Company’s liquidity position, reducing indebtedness and funding the Company’s capital program. The Company has also granted the underwriters an [Read more]
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Gear Energy Ltd. Announces Fourth Quarter and Year-End 2015 Results
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2016) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following fourth quarter and year-end operating update to shareholders. For more information in conjunction with this release, please refer to Gear's Annual Audited Financial Statements, Management's Discussion and Analysis ("MD&A") for the years ended December 31, 2015 and 2014, and 2015 Reserves Press Release titled "Gear Energy Ltd. Announces Year-End Reserves", [Read more]
Crew Energy Inc. Announces Strong 2015 Montney Reserves Growth With Record Capital Efficiencies
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2016) - Crew Energy Inc. (TSX:CR) of Calgary, Alberta ("Crew" or the "Company") is pleased to announce the results of our independent corporate reserves evaluation prepared by Sproule Associates Ltd. ("Sproule") with an effective date of December 31, 2015 (the "Sproule Report"). The following highlights, reserves summary and strong capital efficiency metrics are directly attributable to Crew's extremely successful 2015 Montney drilling program. 2015 [Read more]
Peyto Adds Record Production in 2015 at Lowest Total Cost in Company History
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2016) - Peyto Exploration & Development Corp. (TSX:PEY) ("Peyto" or the "Company") is pleased to present the results and analysis of the independent reserve report effective December 31, 2015. The evaluation encompassed 100% of Peyto's reserve assets, was conducted by InSite Petroleum Consultants ("InSite") and reflects the Alberta royalty framework that was in place at year end 2015. This year marks the Company's 17th year of profitable reserves [Read more]
Devon Energy Corporation Announces Offering of Common Stock
OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corporation (NYSE: DVN) ("Devon" or the "Company") announced today that it intends to commence a registered public offering of 55,000,000 shares of its common stock, subject to market conditions. The Company also expects to grant the underwriters an option to purchase up to 8,250,000 additional shares of stock at the underwriters’ election. Net proceeds from the offering are expected to be used for general corporate purposes, including bolstering the [Read more]
Drilling group calls on Alberta, federal governments to show sector more respect
CALGARY - A drilling industry group is calling on the federal and Alberta governments to do more to stick up for oil and gas workers.Mark Scholz, head of the Canadian Association of Oilwell Drilling Contractors, says 100,000 people are out of work in the oil and gas industry — the equivalent of one in six.Scholz says the group isn't asking for a handout, but wants both levels of government to speak out more vocally in favour of market-opening pipelines.He adds that there's too much [Read more]
Oil jumps 7% in midst of Iran meeting
Global prices of oil surged Wednesday after Iran’s oil minister, Bijan Zanganeh, called the pact struck among Saudi Arabia, Qatar, Venezuela and Russia to limit oil production a “first step” toward stabilizing the market. The Wall Street Journal reported that Zanganeh was quoted as saying Iran would support any action to help oil prices recover. "But Iran didn’t commit to requests from fellow OPEC members to limit its production to help raise crude prices, dealing a blow to hopes of [Read more]
Iran snubs Doha proposal, won’t freeze on oil output levels
TEHRAN, Iran - Iran on Wednesday snubbed a proposal agreed to by four influential oil producers to cap their crude output if others do the same, with a senior Oil Ministry official saying Tehran has no intention of freezing oil output levels.Mahdi Asali, Iran's OPEC envoy, said his country will in fact keep increasing its crude exports until it reaches levels attained before international sanctions were imposed on Tehran over its nuclear program.Asali's comments came as Iran's oil minister held [Read more]
Raging River Exploration Inc. Announces Increase to Bought Deal Equity Financing to $95.2 Million
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2016) - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to announce that in connection with its previously announced bought-deal financing, Raging River and the syndicate of underwriters led by FirstEnergy Capital Corp. have agreed to increase the size of the financing. Raging River will now issue 11,000,000 common shares ("Common Shares") at a price of $8.65 per Common Share for gross proceeds of $95,150,000 (the [Read more]
UAE energy minister refuses to discuss tentative oil cap
DUBAI, United Arab Emirates - Dodging reporters' questions, the United Arab Emirates' energy minister refused Wednesday to discuss a proposed cap to crude oil production agreed to by four oil-producing countries the day before, raising new questions about the proposal aimed at stabilizing global prices. Minister Suhail Mohamed al-Mazrouei's stance suggests regional rivalries also may be in play, as Russia and Saudi Arabia joined Qatar and Venezuela on Tuesday in agreeing to the deal if other [Read more]