All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta - Gibson Energy Inc. announced today that it has closed the previously announced offering of $250 million of 5.25% fixed-to-fixed rate subordinated notes due December 22, 2080 (the “Offering”). Gibson intends to use the net proceeds from the Offering to fund the previously announced redemption of the 5.25% convertible unsecured debentures due July 15, 2021, to reduce outstanding indebtedness under its [Read more]
Headlines
Column: All the energy-related holiday cheer that can be mustered: Hats off to Seamus O’Regan
Well, I suppose it would be not a bad idea to close out the year with something that isn’t a cranky rant. It runs counter to everything I stand for, but in the spirit of the season, what the hell. Surely there are a few golden nuggets in the rubble of this year. Summoning forth the principle of goodwill towards people (yes, I’m editing a bible quote, sue me), the high road is to find something positive to focus on. Of course, it’s no fun unless someone is offended. I can’t think of a better way [Read more]
Highwood Oil Company Ltd. announces closing on previously announced disposition of Clearwater assets for $40.8 million in cash and amendment of credit facility
CALGARY, AB - Highwood Oil Company Ltd. ("HOCL", "Highwood" or the "Company") (TSXV: HOCL) announces the closing of its previously announced Clearwater disposition (the "Clearwater Disposition") and revisions to the Company's credit agreement. Closing of Clearwater Disposition Highwood is pleased to announce the successful closing of the Clearwater Disposition to Tamarack Acquisition Corp., a wholly owned subsidiary of Tamarack Valley Energy Ltd., for cash consideration of $40.8 million. [Read more]
Tamarack Valley Energy Ltd. announces closing of previously announced strategic Clearwater Oil acquisitions and $47 million equity financing
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce the closing of two strategic acquisitions (together, the "Acquisitions") which establish a significant consolidated and operated position in the Clearwater oil play in the Greater Nipisi area, along with interests in the Jarvie area of Alberta, for a total net purchase price of $74.0 million, after deducting the proceeds from the sale of a 2% newly created gross overriding royalty (the "GORR [Read more]
Enbridge to expand storage at Cushing through pending acquisition
Enbridge Inc on Monday said that it will expand its liquids storage capabilities and connections through an acquisition of a facility from Blueknight Energy Partners, L.P. in Cushing, Oklahoma. The purchase of the facility includes 34 storage tanks for a total storage of approximately 6.6 million barrels, which would take the company's overall storage capacity at Cushing to approximately 26 million barrels, the company said. The $132-million-dollar purchase is expected to close in the [Read more]
Observers see rays of hope for 2021 in Canada’s gloomy oil and gas sector
CALGARY - The sombre mood that has gripped the Calgary-based oilpatch for several years is starting to show flickers of hope, with more financially secure companies making moves to grow in 2021. Recent export pipeline news is offsetting the ongoing reality of volatile commodity prices, general investor distaste for the sector and regulatory uncertainty and leading to more mergers and targeted increases in capital spending plans, observers say. "The oilpatch has changed again. I think it's [Read more]
Ottawa’s Hydrogen Strategy has investment and pipeline problems
Last week Ottawa announced the Hydrogen Strategy for Canada, a plan for the development of a domestic hydrogen market potentially worth $50 billion and creating 350,000 jobs by 2050. The good news is the hydrogen strategy proposes to largely rely on hydrogen derived from natural gas reserves. One of the key findings of the strategy is that it could build the Canadian hydrogen sector to supply world markets stating, “With worldwide demand for hydrogen increasing, the global market could [Read more]
Duvernay: Liquid intelligence
A challenging aspect of competitor analysis and benchmarking within the major liquids rich plays of Western Canada is the inconsistent reporting of field products within the public production data record. For example, in the Alberta Duvernay play there is a broad understanding that liquids make up a substantial quantity of the field volumes, yet we often find wells or fields with substantial gaps in field liquids reporting. In the Waskahigan and Kaybob South Duvernay fields, over 70% of wells [Read more]
Strategic combination plan receives all key regulatory approvals
CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce they have obtained all of the key regulatory approvals required in connection with the previously announced combination of Cenovus and Husky pursuant to a plan of arrangement under the Business Corporations Act (Alberta). Subject to the satisfaction of customary closing conditions, the transaction is anticipated to formally close on January 1, 2021. Upon completion of the [Read more]
Obsidian Energy announces important amendments to its offer to purchase the shares of Bonterra Energy Corp.
Offer to purchase Bonterra extended to January 25, 2021 Minimum tender condition lowered to 50% of Bonterra Energy Corp.'s outstanding shares Improved valuation following Obsidian Energy Ltd. share price up 110% in the last month, compared to 4% for Bonterra Energy Corp. CALGARY, AB - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy" or the "Company") today announced that the Company has extended its offer (the "Offer") to purchase all of the issued and outstanding [Read more]