We’ve recently reported on the stall of the Keystone Pipeline and the green movement’s role in shutting down the completion of the pipeline that would have run from Canada to the Gulf Coast of Texas. But with the pipeline project dead for now, what will the green movement turn to next? [Read more]
Headlines
Riverstone to Make Offer to Acquire Common Shares and Warrants of CIOC (Canadian International Oil Corp.)
CALGARY, Nov. 20, 2015 /CNW/ - Canadian International Oil Corp. ("CIOC") announces that Riverstone Seneca B.V. ("Riverstone"), a shareholder of CIOC and an affiliate of Riverstone Holdings LLC, intends to make an offer (the "Offer") to purchase any of the CIOC common shares ("Common Shares") and Common Share purchase warrants with an exercise price of $1.20 per warrant ("Warrants") not owned by Riverstone and its affiliates for cash consideration of $1.675 per Common Share and $0.475 per [Read more]
NEB says TransCanada subsidiary must stop drilling under Athabasca River
CALGARY - The National Energy Board has ordered a subsidiary of TransCanada Corp. (TSX:TRP) to immediately stop drilling under the Athabasca River in Alberta's oilsands area after a potentially toxic substance got into the water.The order against Nova Gas Transmission Ltd. follows four separate incidents — one in October and three this month, said NEB spokesman Darin Barter.In addition to the spill, the regulator said there was riverbank erosion.The NEB is investigating how much drilling fluid [Read more]
Petro One Energy Corp. Applies to Extend Warrants
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 20, 2015) - Petro One Energy Corp. (the "Company") (TSX VENTURE:POP)(FRANKFURT:C6K1) is applying to the TSX Venture Exchange for consent to extend the exercise term of certain outstanding share purchase warrants to October 7, 2016. On November 12, 2015, the Company announced a proposed arrangement (the "Arrangement") pursuant to which all outstanding shares of the Company are planned to be acquired by Goldstrike Resources Ltd. ("Goldstrike") [Read more]
Perpetual announces recapitalization transactions
CALGARY, Nov. 20, 2015 /CNW/ - (TSX: PMT; PMT.DB.E) – Perpetual Energy Inc. ("Perpetual", the "Company" or the "Corporation") announces recapitalization transactions (the "Recapitalization Transactions") that involve: A $25 million fully backstopped rights offering (the "Rights Offering"); A new financing arrangement that provides the Company with $18.2 million of additional liquidity collateralized by one million shares of Tourmaline Oil Corp. ("Tourmaline Shares"); Extension of the [Read more]
Even ‘insular’ midstream companies feeling effects of downturn
It had long been conventional wisdom that midstreamers were the most insulated from the current downturn. That view is sadly in the stage of being undone, with Enbridge and TransCanada announcing cuts. Thus, industry layoffs now affect the full panoply of the Albertan oil & gas industry, from oil field services to E&P to midstream. And regrettably, where there is breadth there will soon be depth, because cuts beget more cuts. Yes, not all midstreamers are alike. They vary [Read more]
Eagle Energy Trust Announces the Acquisition of Maple Leaf Royalties Corp. and Conversion to a Dividend-Paying Corporation
CALGARY, ALBERTA--(Marketwired - Nov. 20, 2015) - Eagle Energy Trust (the "Trust" or "Eagle") (TSX:EGL.UN) is pleased to announce that it has entered into a binding agreement (the "Arrangement Agreement") to acquire Maple Leaf Royalties Corp., ("Maple Leaf") by way of a plan of arrangement (the "Arrangement"). Under the Arrangement, Eagle will acquire all the issued and outstanding shares of Maple Leaf and convert into a corporation ("New Eagle"). Maple Leaf holds oil [Read more]
Trans Mountain price tag rising on currency swings, project changes, delays
CALGARY - The Trans Mountain pipeline expansion is getting more expensive, but the company planning to build it says the economic case for the project is still strong.Kinder Morgan, the U.S. company behind the pipeline project, doesn't yet have a formal estimate of how the price tag has changed since its regulatory application was filed in December 2013.Back then, the company was expecting a cost of $5.4 billion and its estimates for the economic impacts of the project were based on that [Read more]
Marquee Energy Announces Changes to Board of Directors
CALGARY, AB--(Marketwired - November 19, 2015) - Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE: MQL) announces that following today's third quarter Board of Directors meeting, Mr. Jim Wilson has resigned his positions as Member of the Board of Directors and Chairman of the Audit Committee due to requirements associated with his recent acceptance of an executive position with another oil and gas company. The Company thanks Mr. Wilson for his efforts and service and wishes him [Read more]
Marquee Energy Ltd. Announces Operational Update and Third Quarter 2015 Financial Results
CALGARY, AB--(Marketwired - November 19, 2015) - Marquee Energy Ltd. ("Marquee" or the "Company") (TSX VENTURE: MQL) announces its third quarter operational results and financials for the three and nine months ended September 30, 2015. The Company's financial statements and Management's Discussion and Analysis ("MD&A") for the three months ended September 30, 2015 are available on SEDAR at www.sedar.com and on Marquee's website at www.marquee-energy.com.OPERATIONS UPDATEMarquee has completed its [Read more]