CALGARY, May 23, 2019 /CNW/ - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV) announces that it has elected not to proceed with its underwritten public offering of subscription receipts, which was previously disclosed in the Company's press release dated April 25, 2019 (the "Public Offering"). The Company has withdrawn its short form prospectus filed in connection with the Public Offering on May 2, 2019 with the securities regulatory authorities in all provinces of Canada [Read more]
Headlines
Toronto stock market has worst day of the year on trade angst and oil price drop
TORONTO - Canada's main stock index suffered its worst day of the year on Thursday as trade uncertainty and a big drop in oil prices weighed heavily on the energy sector. The S&P/TSX composite index closed down 162.74 points to 16,164.61, its lowest level in nearly two months. In New York, the Dow Jones industrial average was down 286.14 points at 25,490.47. The S&P 500 index was down 34.03 points at 2,822.24, while the Nasdaq composite was down 122.56 points at 7,628.28. North [Read more]
Pipestone Energy Corp. Implements Long Term Incentive Plan
CALGARY, Alberta, May 23, 2019 (GLOBE NEWSWIRE) -- (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report that the board of directors (the “Board”) of Pipestone Energy have approved a long term incentive plan for the Company (the “LTIP”) allowing for the issuance of stock options (“Options”) exercisable for up to 5,688,690 common shares of the Corporation (“Common Shares”), restricted share units (“RSUs”) exercisable for up to 5,688,690 Common Shares and [Read more]
Shell Quest carbon capture and storage project reaches milestone of 4M tonnes
CALGARY - Shell Canada says the Quest carbon capture and storage project north of Edmonton has reached the milestone of four million tonnes of stored carbon dioxide, equivalent to the annual emissions of about one million cars. It says the accomplishment is ahead of schedule and has been attained at a lower cost than expected. Quest opened in 2015 and cost about $1.35 billion, backed with $745 million from the Alberta government and $120 million from Ottawa. The project was sold to [Read more]
Imperial Oil Resources Ltd.: 2019 Harmattan Offering
Imperial Oil Resources Limited (“Imperial”), on behalf of ExxonMobil Canada Energy (“ExxonMobil”), has initiated a process for the disposition of the Harmattan asset consisting of operated and non-operated properties located in central Alberta as further outlined below. Virtual Data Room Available:05/23/2019 Effective Date: 07/01/2019 Non-Binding Proposals Due: 06/27/2019 Harmattan Area Over 85,000 Gross / 49,000 Net Hectares Additional 33,000 Gross / Net Hectares [Read more]
PrairieSky Royalty Appoints New Independent Director
CALGARY, Alberta, May 23, 2019 (GLOBE NEWSWIRE) -- James Estey, Chair of the Board of Directors of PrairieSky Royalty Ltd. (“PrairieSky”) (TSX: PSK) is pleased to announce the appointment of Ms. Jane Gavan to the company's Board of Directors. Ms. Gavan’s appointment is effective May 23, 2019. "On behalf of the Board, I am pleased to welcome Ms. Gavan as our newest independent director," said Mr. Estey. "Jane is an experienced business leader and is well known across the Canadian and [Read more]
Imperial Oil Resources Ltd.: 2019 Hussar Offering
Imperial Oil Resources Limited (“Imperial”), on behalf of ExxonMobil Canada Energy (“ExxonMobil”), has initiated a process for the disposition of its Hussar asset. The Hussar asset consists of operated and non-operated properties located in southern Alberta as further outlined below. Virtual Data Room Available: 05/13/2019 Effective Date: 06/01/2019 Non-Binding Proposals Due : 06/20/2019 Hussar Area ExxonMobil’s 2018 Average Production Gas production of 3.0 mmcf per [Read more]
Pipeline protester chimes in on prime minister’s fundraising speech
VANCOUVER - An Indigenous protester opposed to the Trans Mountain pipeline expansion interrupted a speech by Prime Minister Justin Trudeau at a Liberal fundraiser on Wednesday. Will George of the Tsleil-Waututh Nation in North Vancouver stood up and called Trudeau a liar and a weak leader. "Climate leaders don't build pipelines. So many of our elected leaders in B.C. oppose the pipeline. The mayor of Vancouver got arrested opposing this pipeline," he said, referring to Kennedy Stewart, who [Read more]
Alberta tabling bill to repeal carbon tax
Alberta will table a bill to repeal the provincial carbon tax on Wednesday, the new government said in a speech kicking off its first legislative session. Premier Jason Kenney's United Conservative Party swept to power in Alberta last month on a platform that promised to champion the province's beleaguered energy industry and stand up to the federal government in Ottawa. Scrapping Alberta's carbon tax, which was introduced by the previous government, was a major part of Kenney's campaign. [Read more]
Encana CEO says Canadian oilfield would produce more if regulated in the U.S.
CALGARY - Western Canada's Montney oil and gas region would be two to four times more productive if it was in the United States with its more efficient regulatory systems, says the CEO of Encana Corp. The enormous hydrocarbon-bearing formation that underlies the northern Alberta-B.C. border can compete with premier Texas shale oilfields, said Doug Suttles on Wednesday. But it's being held back by a "cumbersome" regulatory system, along with the inability of smaller Canadian producers to [Read more]