OTTAWA - The Bank of Canada stuck with its trendsetting interest rate Wednesday even though it believes the oil-price shock stalled the economy to the point it had zero growth over the first three months of 2015.The central bank's justification for keeping its key rate at 0.75 per cent hinged, in large part, on its positive outlook for the non-energy sector, which it expects to materialize as the economic pain from the oil slump fades. The bank predicted those improvements would show up in the [Read more]
Headlines
Freehold Royalties Ltd. Upsizes Public Offering From $297 Million to $324 Million
CALGARY, ALBERTA--(Marketwired - April 15, 2015) - Freehold Royalties Ltd. ("Freehold" or the "Company") (TSX:FRU) announced today that it has upsized its $18.00 per share bought deal equity financing being co-led by RBC Capital Markets and CIBC, on behalf of a syndicate of underwriters, announced April 14, 2015 from $297 million to $324 million (the "Public Offering"). Consequently, the over-allotment option will increase from 2,475,000 common shares to up to an additional 2,700,000 common [Read more]
Pengrowth Energy Announces Board Appointment
CALGARY, ALBERTA--(Marketwired - April 14, 2015) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) is pleased to announce the appointment of Jamie Sokalsky to its Board of Directors. Mr. Sokalsky brings over 30 years of senior executive experience in a wide range of areas including finance, capital markets, corporate strategy, project development, acquisitions and divestitures. Mr. Sokalsky's career centered primarily within the mining and resources sector, where he held various executive [Read more]
Dave Wizinsky, MEG Energy Board Director and co-founder of a Canadian energy success story retires after 16 years
CALGARY, ALBERTA--(Marketwired - April 14, 2015) - MEG Energy Corp. (TSX:MEG) reports that co-founder Dave Wizinsky will step down from the corporation's Board of Directors effective May 7, 2015, after serving for 16 years with the company. "Dave came in as a founding investment partner when oil was about $12 a barrel and MEG was just a vision," said Bill McCaffrey, founder, President and Chief Executive Officer. "As part of a larger team, he contributed to several landmark financings and the [Read more]
U.S. approaching historic switch to being a net exporter of energy: report
WASHINGTON - The United States is approaching a historic economic tipping point: in about a decade, the country will cease to be a net importer of energy, a government forecaster predicted Tuesday.Sometime around 2028, the U.S. will become a net energy exporter for the first time since the late 1950s, according to the annual long-term forecast released by the U.S. Energy Information Administration.It said lower consumption, more efficient vehicles, increased domestic production of oil and [Read more]
Penn West Announces $321 Million Sale of Royalties
CALGARY, April 14, 2015 /CNW/ - PENN WEST PETROLEUM LTD. (TSX: PWT) (NYSE: PWE) ("Penn West", "we", "our", "us" or the "Company") is pleased to announce that it has entered into definitive agreements with Freehold Royalties Ltd. (TSX:FRU) relating to the sale by Penn West of an 8.5 percent gross overriding royalty in its working interests in a portion of the Viking play located in the Dodsland area of Saskatchewan and certain of its existing royalties and mineral title lands located in Alberta, [Read more]
Freehold Royalties Ltd. Enters Into Agreements to Acquire Royalty Production and Mineral Title Lands for $321 Million and Launches Concurrent $330 Million Public Offering and Private Placement
CALGARY, ALBERTA--(Marketwired - April 14, 2015) - Freehold Royalties Ltd. ("Freehold" or the "Company") (TSX:FRU) announced today that it has entered into definitive agreements with Penn West Petroleum Ltd. ("Penn West") to acquire two royalty packages totalling an expected 1,400 barrels of oil equivalent ("boe") per day of 2015 average net production with expected annualized operating income of $29 million in 2015 under the pricing assumptions used in the Company's current guidance (US$60 per [Read more]
Oil spill 90 per cent cleared but slick reaches beaches north of city: officials
VANCOUVER - Depending on who you were listening to on Tuesday, the response to Vancouver's toxic fuel spill was either a fine example of speed and co-ordination or a chaotic event filled with miscommunication.Coast guard commissioner Jody Thomas called the agency's handling of the spill "excellent" while city manager Penny Ballem stopped short of outright criticizing its response in a report to council.The spill dumped at least 2,700 litres of bunker fuel into English Bay last week.Ballem [Read more]
Shoreline Energy Corp. Obtains Creditor Protection
CALGARY, ALBERTA--(Marketwired - April 14, 2015) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Company") announces today that it has obtained creditor protection under the Companies' Creditors Arrangement Act (Canada) (the "CCAA") pursuant to an Order granted on April 13, 2015 by the Court of Queen's Bench of Alberta, Judicial Centre of Calgary (the "Court"). The CCAA filing follows a review of Shoreline's strategic alternatives by its Board of Directors. Details of the CCAA filing [Read more]
Maple Leaf Royalties Corp. Announces Royalty Acquisition and Approval of Dividend Policy
CALGARY, ALBERTA--(Marketwired - April 14, 2015) - Maple Leaf Royalties Corp. (TSX VENTURE:MPL) ("Maple Leaf") is pleased to announce that it has entered into an agreement to acquire existing gross overriding royalty interests in southern Alberta, and that its board of directors has approved a dividend policy. Asset Acquisition Maple Leaf has executed purchase and sale agreements with two private oil and gas companies whereby Maple Leaf will acquire a 5-15% sliding scale gross overriding [Read more]