CALGARY, June 28, 2019 /CNW/ - Paramount Resources Ltd. (ʺParamountʺ or the ʺCompanyʺ) is pleased to announce that it has entered into an agreement with an affiliate of CSV Midstream Solutions Corp. (ʺCSV Midstreamʺ) for the sale of its Karr 6-18 natural gas facility and related midstream assets (the ʺ6-18 Facilityʺ) for total cash consideration of approximately $330 million plus a $140 million capital commitment to fund and complete the associated expansion of the facility (ʺD2ʺ), bringing the [Read more]
Headlines
B.C. to argue for injunction on Alberta’s turn-off-the-taps law in Calgary court
CALGARY - British Columbia's request for an injunction against Alberta's so-called turn-off-the-taps law is to be heard in a Calgary courtroom today. The legislation allows Alberta to crimp energy shipments to B.C. if it stands in the way of a major pipeline expansion to the west coast. B.C. filed a statement of claim in Alberta Court of Queen's Bench last month calling the law unconstitutional. The legislation was passed — but never used — by Alberta's former NDP government as a way to [Read more]
No pipeline fireworks as Western premiers emerge from annual meeting in Edmonton
EDMONTON - Canada's western and northern leaders pushed Thursday for reducing trade barriers and building trade corridors while avoiding a bunfight on the contentious Trans Mountain pipeline. Alberta Premier Jason Kenney and his B.C. counterpart John Horgan amicably agreed to continue to disagree on the pipeline expansion project that would carry Alberta oil to the West Coast. Horgan even made a joke about being the lone New Democrat at the table with Kenney, Saskatchewan's Scott Moe and [Read more]
Private Investor Acquires 19.96% of the Shares of Cequence Energy Ltd.
CALGARY, Alberta, June 27, 2019 (GLOBE NEWSWIRE) -- Mr. G.A. Cumming announces the acquisition of 7,737,108 common shares (“Common Shares”) of Cequence Energy Ltd. (“Cequence”) as part of a larger private placement of flow-through common shares of Cequence (the “Private Placement”) completed today. Under the Private Placement, Cequence issued a total of 17,230,769 common shares, all on a flow-through basis in accordance with to the Income Tax Act (Canada), at a subscription price of $0.65 per [Read more]
Cequence Energy Ltd. Announces the Completion of Its Private Placement, Debt Transaction and Results of Its Annual General and Special Meeting of Shareholders
CALGARY, Alberta, June 27, 2019 (GLOBE NEWSWIRE) -- Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce the successful completion today of its previously announced private placement of common shares (the “Private Placement”), $10 million principal repayment on its $60 million term loan, as well as the results of its Annual General and Special meeting of shareholders. Private Placement Under the Private Placement, Cequence issued a total of 17,230,769 [Read more]
Devon Energy Completes Sale of Canadian Business
OKLAHOMA CITY, June 27, 2019 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced that it has completed the sale of its Canadian business to Canadian Natural Resources Limited for CAD $3.8 billion, or USD $2.8 billion. Devon received net proceeds of USD $2.5 billion, after adjusting for purchase price adjustments and estimated taxes associated with the sale. The company plans to repatriate the net sales proceeds along with Canadian cash balances of approximately USD $500 million to [Read more]
Canadian Natural Resources Limited Completes the Acquisition of Substantially All of the Assets of Devon Canada Corporation
CALGARY, Alberta, June 27, 2019 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces that the agreement to acquire substantially all of the assets of Devon Canada Corporation ("Devon") has been completed. Canadian Natural welcomes approximately 720 high caliber Devon employees to its thermal in situ, primary heavy oil and Calgary head office teams. The acquired production, infrastructure and land will add to Canadian Natural’s existing thermal [Read more]
Alberta seeks to offload crude by rail program by fall
Alberta Energy Minister Sonya Savage said on Thursday the Canadian province hoped to divest the government's crude by rail program to the private sector by fall, and has hired Canadian Imperial Bank of Commerce to oversee the move.The provincial government, led by Premier Jason Kenney, was sworn in in April and had said it did not support a plan by the previous government to lease trains to move crude in an effort to ease bottlenecks on pipelines. (Reporting by Rod Nickel in Winnipeg, [Read more]
Razor Energy Receives Funding for Geothermal Power Project
CALGARY, Alberta, June 27, 2019 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) (www.razor-energy.com) and its partners, the federal government, through Natural Resources Canada (“NRCan”) and Alberta Innovates, are pleased to announce the funding of a co-produced geothermal electricity project utilizing an active oil and gas operation in Alberta (the “Project”). A $5 million contribution from NRCan’s Clean Growth Program, and a $2 million contribution from Alberta [Read more]
Hemisphere Energy Announces Normal Course Issuer Bid
VANCOUVER, June 27, 2019 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has accepted the Company's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB") to purchase for cancellation, from time to time, as Hemisphere considers advisable, up to 8,016,731 common shares ("Common Shares") of the Company, representing approximately ten percent (10%) of the current public float of the [Read more]