SASKATOON - The Saskatchewan government has filed notice that it is taking its challenge of the federal carbon tax to the Supreme Court of Canada. Justice Minister Don Morgan says the province will ask the high court to rule on whether the tax is constitutional and whether Ottawa has the jurisdiction to impose it. Saskatchewan's Court of Appeal ruled in a split decision earlier this month that the tax is constitutional. It also said that establishing minimum national standards for a [Read more]
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Marksmen Announces Proposed Private Placement
CALGARY, Alberta, May 31, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSX Venture: MAH) (OTCQB: MKSEF) announces that it plans to complete a non-brokered private placement of up to 7,000,000 units (the “Units”) of Marksmen at a price of $0.05 per Unit for aggregate gross proceeds of up to a maximum of $350,000 (the “Offering”). There is no minimum Offering. The Units will be comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share [Read more]
Bellatrix Files Substantially Final Versions of New Note Indentures in Connection With Its Recapitalization Transaction
CALGARY, Alberta, May 31, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announced today that, in connection with its previously announced recapitalization transaction (the “Recapitalization Transaction”) to be implemented pursuant to Bellatrix’s court approved plan of arrangement under the Canada Business Corporations Act (the “Plan of Arrangement”), the Company has substantially finalized the following documents, each of which is to be finalized [Read more]
Canada Weekly Rig Count Up 7 to 85
Western Canada’s fleet of drilling rigs went up by 7 to 85 according to data collected by Baker Hughes for the week of May 31st. From last Friday, Alberta rig counts went from 53 to 56. Saskatchewan's rig count increased from 11 to 17. Oil drilling went from 38 to 44; natural gas rigs went from 40 to 41. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers cut oil rigs for sixth straight month-Baker Hughes
U.S. energy firms this week increased the number of oil rigs operating for the first time in four weeks but cut the rig count for the sixth straight month as most drillers cut spending plans. Companies added three oil rigs in the week to May 31, bringing the total count to 800, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That compares with 861 rigs operating during the same week a year ago. For the month, drillers cut the number [Read more]
Point Loma Resources Enters Into Debt Settlement Agreements
CALGARY, AB / ACCESSWIRE / May 31, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") announces that in order to preserve its cash on hand, it has entered into debt settlement agreements with certain arm's length parties to settle trade payables in the sum of $543,750 in consideration for the issuance of 3,020,835 settlement units where each unit is comprised of one common share in the capital of the Corporation (the "Common Shares") and one common share [Read more]
Enbridge offers 2024 finish for Great Lakes tunnel project
TRAVERSE CITY, Mich. - Enbridge Inc. said Thursday it could have a proposed oil pipeline tunnel built and operating beneath a crucial Great Lakes channel by early 2024, responding to demands from Michigan officials to expedite the shutdown of existing twin pipelines. The Canadian company said it had sent Gov. Gretchen Whitmer a revised timeline for drilling the $500 million tunnel through bedrock beneath the Straits of Mackinac, the 4-mile-wide (6.4-kilometre-wide) channel linking Lakes Huron [Read more]
Eagle Energy Inc. Announces Change of Chief Financial Officer
CALGARY, May 30, 2019 /CNW/ - (TSX: EGL): Eagle Energy Inc. ("Eagle") announced today that Brenda Galonski, Vice President, Finance and Controller of Eagle, will succeed Kelly Tomyn as Eagle's Chief Financial Officer, effective June 1, 2019. Wayne Wisniewski, President and Chief Executive Officer, commented, "On behalf of Eagle and its board of directors, I would like to thank Ms. Tomyn for her valuable contributions as Eagle's CFO since 2010 and wish her the very best in her future [Read more]
Alberta says July oil production limit will be 3.71 million bpd
The government of Canada's main crude-producing province Alberta said on Thursday companies will be limited to producing 3.71 million barrels per day of crude in July, keeping curtailments unchanged from June.Alberta introduced mandatory production curtailments, effective Jan. 1, to ease a glut of crude in storage that had pushed Canadian crude prices to record discounts versus U.S. barrels. (Reporting by Nia Williams; Editing by Cynthia Osterman) [Read more]
Enbridge Statement on Future of Line 5 in Michigan
CALGARY, May 30, 2019 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) today addressed statements made yesterday by the Michigan Attorney General and Governor about our joint efforts with the State on the proposed construction of an underground tunnel that would ultimately house a replacement of the existing Line 5 pipelines across the Straits of Mackinac, which have always operated safely. In recent meetings and in a letter to the Governor, Enbridge has [Read more]