CALGARY, AB - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce that it has executed definitive agreements with the Business Development Bank of Canada ("BDC"), in partnership with the Company's syndicate of lenders (the "Syndicate"), for a non-revolving facility of $40 million, providing attractive interest rates over a four year term (the "Term Facility"). Surge is also pleased to announce that it has closed an extension of the Company's existing $335 million [Read more]
Headlines
Indigenous group to invest up to C$1 bln in TC Energy’s Keystone project
TC Energy said on Tuesday indigenous group Natural Law Energy will make an equity investment of up to C$1 billion ($763.77 million) in its controversial Keystone XL pipeline project. The Keystone XL pipeline, which would run from the Canadian energy-producing province of Alberta to Nebraska, has been delayed for more than a decade due to opposition from landowners, environmental groups and tribes. The first phase of the transaction with NLE, created as a coalition of First Nations in [Read more]
Leveraging the moral case for fossil fuels with Alex Epstein
Alex Epstein, who most know from his book “The Moral Case for Fossil Fuels” has been busy. Since founding the energy think tank Center for Industrial Progress in 2011 he received the “Most Original Thinker of 2014” award from the McLaughlin Group. He has been publicly debating environmentalist organizations such as Greenpeace, the Sierra Club, and 350.org’s Bill McKibben- an opponent of the Keystone XL pipeline since 2011. He has spoken on campuses and to employees and leaders at Fortune 500 [Read more]
Vermilion Energy Inc. announces senior leadership changes
CALGARY, AB - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) announces changes to its senior leadership team. Mr. Michael Kaluza has stepped down as Executive Vice President and Chief Operating Officer ("COO"), effective immediately. We would like to thank Mr. Kaluza for his many contributions to Vermilion over the past seven years. Mr. Dion Hatcher has been appointed to the newly created position of Vice President, North America. Mr. Hatcher [Read more]
Cenovus and Husky to hold special shareholder meetings on proposed Plan of Arrangement
Shareholders asked to vote in favour of board-approved agreement to combine businesses CALGARY, Alberta - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) announce they have filed a joint management information circular dated November 9, 2020 and related meeting and proxy materials, which will be mailed to Cenovus common shareholders and to Husky common shareholders, preferred shareholders and optionholders in connection with the proposed plan of arrangement to create [Read more]
Advisory firm says deal would be good for Obsidian but has little chance to proceed
CALGARY - Advisory firm Glass Lewis says the proposed hostile takeover of Bonterra Energy Corp. would be good for Obsidian Energy Ltd. shareholders but it has "almost no practical likelihood of being successful." It recommends investors follow management's advice and vote next Monday to approve issuing about 72.3 million new shares to buy Bonterra, noting a completed deal would create a company with a stronger balance sheet and the ability to grow through acquisitions. In a news release on [Read more]
Razor Energy Corp. – Non-core property divestiture
Razor Energy Corp. (“Razor” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in the Chin Coulee, Enchant/Retlaw, Badger, Majorville and Jumpbush areas of southern Alberta (the “Properties”). Razor acquired the Properties in 2019 and has since refocused its corporate efforts and strategic direction to its core areas. Average daily production net to Razor in August 2020 from the Properties [Read more]
Oil prices jump on hopes OPEC+ maintains supply curbs
Oil prices jumped in early Asian trade on Monday, recouping some losses from the previous session as hopes that OPEC+ will continue to curb output offset concerns of weaker fuel demand amid rising COVID-19 cases and higher production from Libya. While U.S. West Texas Intermediate crude for December was at $41.36 a barrel, up $1.25, or 3.22%. Brent crude futures for January rose $1.31 cents, or 3.07%, to $44.02 a barrel. Both contracts gained more than 8% last week on hopes of a COVID-19 [Read more]
Bird River Resources announces plans to consolidate
WINNIPEG, MB - Bird River Resources Inc. (CSE:BDR) ("BDR" or the "Company") announces its plans to consolidate all of the Company's issued and outstanding common shares (the "Share" and, collectively, "Shares") on the basis of twelve (12) to one (1) (the "Consolidation"). The Consolidation was approved by special resolutions of shareholders at the Company's annual general and special meeting held on September 25, 2020. Effective November 17, 2020, with a record date of November 18, 2020, the [Read more]
Bonterra Energy Corp. successfully completes financing initiatives and continues to recommend that shareholders reject the obsidian hostile bid
Bonterra is one of the first Canadian energy producers to qualify and be approved for both the EDC and BDC government support programs, a condition of which is financial viability. With the successful completion of its recent financing initiatives, Bonterra's go-forward strategic plan is expected to grow production by more than 30 percent and return the Company's average annual production to pre-COVID levels of approximately 13,000 BOE per day in 2021. Bonterra's strategic plan has the [Read more]