CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") announces it has received approval from its syndicate of lenders to extend the revolving period applicable to the Company's existing credit facility to September 30, 2020 from August 31, 2020. The credit facility will continue to be available on a revolving basis until that date. The extension affords Bonterra and its syndicate of lenders additional time to finalize definitive agreements [Read more]
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AltaGas Ltd. provides notice of series A and series B preferred shares conversion rights and dividend rates
CALGARY, AB - AltaGas Ltd. ("AltaGas") (TSX: ALA) announced today that it does not intend to exercise its right to redeem any or all of its currently outstanding Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series A (the "Series A Shares") (TSX: ALA.PR.A) or the Cumulative Redeemable Floating Rate Preferred Shares, Series B (the "Series B Shares") (TSX: ALA.PR.B) on September 30, 2020 (the "Conversion Date"). As a result, subject to certain conditions, the holders of the [Read more]
Cardinal Energy Ltd. announces extension of revolving credit facility
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal") (TSX: CJ) has received approval to extend the revolving period applicable to the Company’s existing reserves-based credit facility to September 30, 2020. The credit facility continues to be available, on a revolving basis, until that date. In connection therewith, the date for the re-determination of the borrowing base has also been extended to September 30, 2020. About Cardinal Energy Ltd. One of Cardinal's goals is to continually improve [Read more]
Painted Pony announces credit facility update
CALGARY, Alberta - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) today confirms the execution of an agreement (the “Extension Agreement”) with the Corporation’s syndicate of lenders to extend Painted Pony’s annual borrowing base redetermination date from August 31, 2020 to the earlier of either October 31, 2020 or the date on which the arrangement between Painted Pony and Canadian Natural Resources Limited (“CNRL”), pursuant to which CNRL has agreed to acquire all of [Read more]
Gibson Energy announces the addition of Ms. Peggy Montana to the company’s board of directors
CALGARY, Alberta - Gibson announced today that Ms. Peggy Montana will join the Company’s Board of Directors effective August 31, 2020. “We are very pleased to have Peggy Montana join Gibson’s Board of Directors,” said James Estey, Chairman of Gibson. “Through her significant experience in various board and senior executive roles within the midstream and refined products sectors, predominantly at an international supermajor, Peggy brings a wealth of knowledge of global best practices in health, [Read more]
U.S. court rejects bid to halt Kinder Morgan gas pipeline
A nearly-complete $2.3 billion pipeline to carry natural gas from West Texas shale fields to the U.S. Gulf Coast can move ahead, a U.S. judge in Austin, Texas, ruled on Friday, rejecting an environmental group’s effort to halt the project. Sierra Club in April challenged federal approval of the 428-mile (689 km) Kinder Morgan Inc pipeline, alleging regulators’ reviews under a streamlined process were faulty. The line’s path crosses areas with two endangered species and some 400 wetlands, [Read more]
Oil prices edge up on stimulus support despite ample supplies
Oil prices nudged up on Monday, with Brent futures set to post a fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID levels in a well supplied market. Brent crude futures for November climbed 27 cents, or 0.6%, to $46.08 a barrel by 0038 GMT, while U.S. West Texas Intermediate crude was at $43.11 a barrel, up 14 cents, or 0.3%. Brent is set to close out August with a fifth successive monthly price rise, having peaked at [Read more]
PNG Exchange new properties
Here are a few of the newest properties on PNG Exchange. Visit the listing for more details and to contact the company's representative. Central Alberta Duvernay | Barrel Oil Corp. 100,000 Net Acres 100% W.I. in prospective Duvernay rights Grand Prairie Duvernay | TimberRock Energy Inc. 98,000 Net Acres 100% W.I. primarily All PNG rights located East of Grand Prairie NEBC Yoyo Disposition | Crew Energy Inc. 2500 Net Acres NEBC Helmet Disposition | Crew Energy Inc. 6255 [Read more]
Gear Energy Ltd. announces completion of August 31, 2020 redetermination of credit facilities
CALGARY, AB - Gear Energy Ltd. (TSX: GXE) is pleased to announce that the syndicated credit facilities redetermination scheduled for August 31, 2020 has been completed with no changes to the borrowing base. The next regularly scheduled borrowing base redetermination date is November 30, 2020 with the maturity date remaining May 28, 2021. [Read more]
Whitecap announces strategic combination with NAL Resources in all-stock transaction
CALGARY, AB, Aug. 31, 2020 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has entered into an agreement in an all-stock transaction valued at approximately $155 million (the "Transaction") with NAL Resources Limited ("NAL") and a privately held wholly owned subsidiary of Manulife Financial Corporation ("Manulife"). NAL has oil and gas operations in Alberta and Saskatchewan and is currently producing approximately 27,000 boe/d (55% oil and [Read more]