CALGARY, ALBERTA--(Marketwired - Feb. 12, 2016) - Yoho Resources Inc. ("Yoho" or the "Company") (TSX VENTURE:YO) announces that it has completed the purchase for cancellation of all of its outstanding $11.8 million principal amount of 8.25% convertible secured subordinated debentures due June 30, 2020 (the "Debentures"), pursuant to its offer to purchase the Debentures dated January 8, 2016 (the "Offer") at a price equal to 120% of the principal amount of such Debentures plus accrued and unpaid [Read more]
Headlines
Moody’s downgrades Suncor credit rating as oil prices hit cash flow and leverage
CALGARY - Moody's Investor Services has cut Suncor Energy Inc.'s credit rating as low oil prices weigh on the company's financials.The ratings agency downgraded the major oilsands producer one notch to a triple B rating as its cash flow and debt leverage have been hurt by oil prices trading below US$30 a barrel.Moody's also downgraded Canadian Oil Sands Ltd., which Suncor is in the middle of taking over, to a double B rating because of the company's "very high cost base" and expectations of very [Read more]
From airlines to telecom, oil price pain seeping into other sectors
CALGARY - From airlines to beer-makers to wireless providers, withering crude prices have been a drag on businesses seemingly far removed from the oilpatch."Sometimes — outside of Alberta, particularly — there's some skepticism or even some derision against the petroleum sector," said Todd Hirsch, chief economist at ATB Financial."Some people actually feel it's getting its comeuppance. ... But they need to realize that it has broader implications for the whole economy."WestJet Airlines [Read more]
Scotiabank CEO calls on feds to boost infrastructure spending, backs Energy East
TORONTO - The CEO of one of Canada's big banks is urging Ottawa to boost its spending on infrastructure projects and says the Energy East Pipeline should qualify for federal investment.Scotiabank CEO Brian Porter told the Canadian Club of Toronto on Friday that Energy East is a development that could help stimulate the country's sluggish economy."Look, we've got an industry that's core to this country that's on its back," Porter said."Energy East would be a quick solution to get Canada's energy [Read more]
Minister Carr Hosts North American Energy Ministers Meeting
WINNIPEG, Feb. 12, 2016 /CNW/ - The Honourable Jim Carr, Canada's Minister of Natural Resources, welcomed Pedro Joaquín Coldwell, Mexico's Secretary of Energy, and Dr. Ernest Moniz, United States Secretary of Energy, to Winnipeg, where he hosted the North American Energy Ministers Meeting. The energy leaders discussed the importance of trilateral cooperation, as well as the way forward toward a continental approach to energy. During the meeting, the Ministers signed a Memorandum of [Read more]
NEB releases Canadian Energy Dynamics report, a retrospective of energy markets in 2015
CALGARY, Feb. 12, 2016 /CNW/ - Today, the National Energy Board (NEB) released Canadian Energy Dynamics: Highlights of 2015. This report provides insight, statistics and regional descriptions that frame the key developments in Canada's energy markets in 2015. Dynamic changes in supply, demand, and infrastructure continually shape Canada's energy sector. 2015 saw a six-year low in crude oil prices, with West Texas Intermediate (WTI) ending the year around $35 per barrel. Natural gas prices [Read more]
Northern Blizzard Resources Inc. Announces Revised 2016 Capital Program & Guidance; Maintains Dividend
CALGARY, Feb. 12, 2016 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard" or the "Company") (TSX: NBZ) announces a revised capital program for 2016 in response to the continuing weakness in oil prices. The capital program has been reduced by 60% to $40 million, which maintains the Company's financial strength and results in estimated 2016 production of 19,000 boe/d. The monthly dividend remains at $0.04 per share. Northern Blizzard operates and controls 99% of its development [Read more]
Strategic Oil & Gas Ltd. Provides Operations Update, Year-End Reserves and Financing Arrangement
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2016) - Strategic Oil & Gas Ltd. ("Strategic" or the "Company") (TSX VENTURE:SOG) is pleased to announce its recent well results and year-end reserves: Step-out Muskeg horizontal well 14-35-121-23w5 produced at an average rate of 1,060 boe/d over the last 48 hours of a nine day production test. Step-out Muskeg vertical well 12-21-120-23w5 core identifies 12.6 meters (41.3 feet) of net oil pay. Proved and probable reserves of 12.7 MMBoe at [Read more]
Long Run Exploration Ltd. Announces Independent Proxy Firm Recommends Shareholders Vote in Favor of Arrangement and Files Addendum to Information Circular
CALGARY, ALBERTA--(Marketwired - Feb. 11, 2016) - Long Run Exploration Ltd. ("Long Run" or the "Company") (TSX:LRE) is pleased to announce that Glass Lewis & Co. ("Glass Lewis") has recommended that shareholders vote in favor of the arrangement involving Long Run, Long Run securityholders and Calgary Sinoenergy Investment Corp. (the "Arrangement"). Glass Lewis is widely recognized as a leading independent proxy voting and corporate governance advisory firm, whose analyses and recommendations [Read more]
February 10 Alberta Land Sale Earns $4.64 Million
Yesterday's Alberta Oil and Gas Crown mineral rights land sale earned the province a total of $4.64 million. A total of 64 leases consisting of 28.5 thousand hectares of land were sold. The average price paid per hectare was $162.67, slightly up from the average $116.57 paid 2 weeks ago. That brings the total for the first three sales of 2016 to $11.4 million. The largest single non-anonymous bidder was Rockeast Energy Corp. who paid $96.6 thousand for 3 and a half sections in the Delbon [Read more]