HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - Feb. 5, 2016) - The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) announces the following: Reference is made to the Company's announcement of August 8, 2014 relating to the Company's offering of $US 200 million principal amount of senior secured notes (the "Notes"). Under the terms of the Notes, the maturity date for the Notes was August 1, 2017 and, if certain events did not take [Read more]
Headlines
Trudeau’s promises get lukewarm reception with some Alberta oilpatch workers
CALGARY - Prime Minister Justin Trudeau's promises of fast-tracked infrastructure spending and employment insurance reform in Alberta have received a lukewarm reception among some oilpatch workers."It's just a drop in the bucket of the billions that we've sent out east," said pipeline contractor Chad Miller, 35, of $700 million to come for construction projects and another $250 million for Alberta from a federal fiscal stabilization fund.Miller had been hoping to see some help for small-business [Read more]
Big hits and Brussels sprouts: Nenshi shrugs off Coderre’s Energy East talk
OTTAWA - Calgary Mayor Naheed Nenshi says it's up to the federal government to make the final call on pipeline approvals — not mayors or provincial premiers.The ongoing debate over getting western Canada's oil and gas to ocean ports continues to churn as Canada's big city mayors meet for two days of talks in the national capital.A group of Montreal-area mayors, fronted by former Liberal cabinet minister Denis Coderre, sparked a minor national unity furor last month when they came out against the [Read more]
Cequence Energy Announces Operations Update
CALGARY, Feb. 4, 2016 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its recent operating highlights. Simonette 16-33 Montney Well The Company's recent Simonette Montney well at 16-33-61-27W5 utilized a new completion design and was highly successful based on initial results. The average production rate for the last seven days was 1,800 boe/d (7.5 mmcf/d and 550 bbl/d of condensate). The well continues to clean up and after 21 days is [Read more]
Toro Oil & Gas Ltd announces certain 2015 accomplishments and strategy entering 2016
CALGARY, Feb. 4, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") is pleased to announce a summary of certain 2015 accomplishments along with its near term 2016 strategy and guidance in light of continuing volatile market conditions. Despite persistent weak commodity prices and other macro-economic headwinds for much of 2015, Toro materially increased its position within the Alberta Viking light oil fairway while taking advantage of capital and operating cost [Read more]
Meeting with Trudeau encouraging, but no assurance on pipelines: Suncor CEO
CALGARY - Prime Minister Justin Trudeau offered a sympathetic ear to major players in Canada's oilpatch Thursday, but didn't provide any assurances on the fate of the pipelines Alberta so desperately wants to move its product to the coasts.Trudeau, federal Natural Resources Minister Jim Carr and Alberta Premier Rachel Notley took part in one-hour roundtables with oil and natural gas producers and their suppliers.The province's oil sector is looking for signals that Trudeau is serious about [Read more]
Shell postpones LNG Canada final investment decision as profits plunge
VANCOUVER, BC, Canada - Royal Dutch Shell is postponing a final investment decision on its proposed liquefied natural gas mega-project in British Columbia as it grapples with plummeting earnings due to low energy prices.Chief executive Ben van Beurden said Thursday that the company was delaying a final commitment on the LNG Canada project in northwestern B.C. as it makes "substantial changes in the company" that will likely include further spending cuts on top of the $12.5 billion it cut last [Read more]
ConocoPhillips Reports Fourth-Quarter and Full-Year 2015 Results; Lowers Quarterly Dividend and Revises 2016 Operating Plan Guidance
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced it is taking actions to maintain its strong balance sheet in response to both the weak outlook for commodity prices and expected credit tightening across the industry. The actions will position the company to accelerate shareholder value creation as prices recover. Dividend and Operating Plan Actions The company announced that its board of directors approved a reduction in the company’s quarterly dividend to 25 cents per [Read more]
Relentless Resources Announces Cancellation of Certain Stock Options
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2016) - Relentless Resources Ltd. ("Relentless" or the "Company") (TSX VENTURE:RRL) announces that it has cancelled today a total of 5,698,410 incentive stock options ( "Options"), granted under the Company's stock option plan to certain officers, directors, employees and consultants of the Company. The cancelled Options were voluntarily surrendered by the holders thereof for no consideration. The exercise prices of the cancelled Options ranged from $0.14 [Read more]
Suncor CEO: 1,700 jobs cut in 2015, company ‘overachieved’ on cost cutting
CALGARY - The CEO of Canada's biggest oilsands player says about 1,700 jobs were shed over the past year or so — far surpassing its original target.Just over a year ago, Suncor Energy (TSX:SU) announced it would be cutting 1,000 jobs because of the sharp downturn in crude prices."We significantly overachieved," CEO Steve Williams said on a conference call with analysts on Thursday to discuss Suncor's fourth-quarter results.About 1,900 contractor and full-time employee positions were cut. But [Read more]